The U.K. general elections will be a "close-fought battle" says William Hague, leader of the U.K. House of Commons, arguing that a Labour win would mean a "lurch back to all the deficits" of before.» Read More
LONDON, Oct 2- Bill Gross' exit from Pimco has seen billions of dollars leave the fund group and even more value wiped off the share price of its parent company, offering a warning both to firms who rely on star managers and the investors who chase them. Gross's flagship Pimco Total Return Fund lost money every month from May last year, totalling nearly $70 billion by...
LONDON, Oct 2- "Things are always unnoticed, until they're noticed," Tesco Chairman Richard Broadbent said when asked how Britain's biggest retailer had failed to spot a 250 million pound sized hole in its first-half profits. Whether conspiracy or cock-up, the scandal raises doubts over the management and financial oversight at Britain's largest private...
Treasury Secretary Jack Lew, U.S. Deputy Secretary Sarah Bloom Raskin participate in open meeting of the President's Advisory Council on Financial Capability for Young Americans in Washington- 1300 GMT. RICHMOND- Federal Reserve Bank of Richmond and the Kiel Institute for the World Economy hold two-day conference on "The Labor Market After the Great...
NEW YORK— A bottleneck is building in the global market for bonds. GM looks to new vehicles, China to boost profit. MILFORD, Mich.— General Motors CEO Mary Barra told investors Wednesday that GM plans a raft of new models and a big push to sell more cars in China to drive profits in coming years, as the biggest U.S. automaker tries to shift the spotlight from a mishandled...
BRUSSELS, Oct 1- The installation of a new executive team for the European Union hit a first major obstacle on Wednesday when EU lawmakers ordered Britain's Jonathan Hill to return next week to try again to convince them he could be trusted to oversee financial services in the bloc.
*Saudi Arabia cuts November oil price to Asia. NEW YORK, Oct 1- Oil prices fell toward $94 a barrel on Wednesday, continuing a three-month losing stretch as weak economic signals from China and Europe and ample global supply continued to weigh.
*US, Europe equity volatility: http://link.reuters.com/tyh69v. Investors have mostly held their nerve as headlines lurched from a new' Cold War' in eastern Europe to conflict and Western intervention in the Middle East, the threatened breakup of the United Kingdom and secessionist risks in Europe.
DUBAI/ KHOBAR, Oct 1- Saudi Aramco sharply cut official oil prices for Asian customers in November, the state-run company said on Wednesday in the clearest sign yet the world's largest exporter is trying to compete for crude market share.
MILAN, Oct 1- Italian prosecutors investigating state-backed firm Eni SpA over the purchase of a Nigerian oil field three years ago allege that at least half of the $1.1 billion paid was used to bribe local politicians, intermediaries and others, according to official documents and a person close to the investigation.
*Factory gauge slips in September as orders growth softens. WASHINGTON, Oct 1- Growth in U.S. factory activity slowed more than expected in September even as hiring in the private sector accelerated, signs of an uneven expansion in the U.S. economy.
NEW YORK, Oct 1- Brent oil bounced off a two-year low and headed toward $96 a barrel on Wednesday and U.S. crude also rose as crude stockpiles fell unexpectedly and Chinese factory data offered signs of hope for the slowing economy.
*China's PMI steadies at 51.1, just above forecast. LONDON, Oct 1- Oil rose from a more than two-year low to above $96 a barrel on Wednesday, supported by a slightly better-than-expected Chinese factory survey and a surprise drop in U.S. crude oil inventories.
WASHINGTON, Oct 1- Growth in U.S. factory activity slowed more than expected in September even as private sector job growth accelerated, signs of an uneven expansion in the U.S. economy. The Institute for Supply Management said on Wednesday its index of national factory activity dropped to 56.6 last month, its lowest level since June.
DUBAI, Oct 1- The International Cotton Association said it is introducing mediation services to help resolve disputes over reneged contracts that have blocked hundreds of blacklisted firms from doing business.
LONDON, Oct 1- ICAP, the world's biggest interdealer broker, will submit a proposal to the bullion market to replace the century-old global price benchmark for gold known as the "fix", the company told Reuters on Wednesday.
*Brent seen averaging $103.30, WTI $96.10 in 2015. Brent has averaged near $110 a barrel since 2011 but has fallen sharply since June as U.S. shale oil supplies outstripped expectations and Iraqi and Libyan production has risen despite violence and political unrest in the two OPEC members.
BRUSSELS, Oct 1- Britain's choice for the European Commission disarmed EU lawmakers with a combination of charm, grasp of financial regulation and a stated commitment to European integration at a hearing in the European Parliament on Wednesday.
LONDON, Oct 1- ICAP, the world's biggest interdealer broker, will submit a proposal to the bullion market to replace the century-old global price benchmark for gold known as the "fix," the company told Reuters on Wednesday.
NEW YORK, Oct 1- The dollar pulled back from six-year highs against the yen to trade little changed on Wednesday, weighed down by a drop in U.S. Investors also booked profits on long U.S. dollar positions ahead of key event risks- the European Central Bank's monetary policy meeting on Thursday and Friday's U.S. non-farm payrolls report.
*China's PMI steadies at 51.1, just above forecast. LONDON, Oct 1- Oil rose from a more than two-year low to over $95 a barrel on Wednesday as a slightly better-than-expected Chinese factory survey countered worries of an economic slowdown in the world's No. 2 oil consumer and ample supplies.