U.S. oil fell by more than $1 per barrel, pressured by a drop in China's exports that stoked slowdown fears.» Read More
DETROIT, March 5- General Motors Co ratcheted up discounts in February on its full-size pickups, but it is telling Wall Street analysts that it intends to maintain premium pricing and margins on the trucks despite a drop in volume and market share.
LONDON, March 5- The Bank of England revealed on Wednesday that allegations of rigging of world currency markets had been flagged as far back as mid-2006 as it suspended a staff member as part of a probe into what it knew about the alleged manipulation.
Five banks involved in setting the London benchmark gold price have been accused in a lawsuit of price manipulation.
*Barclays CEO Jenkins could get 7.2 mln stg. *Barclays says 57 pct of its 1 mln stg club work in U.S. LONDON, March 5- Barclays paid almost 500 staff more than 1 million pounds last year, prompting criticism that pay is still too high and that banks have not changed their ways since the financial crisis.
LONDON, March 5- The Bank of England suspended a staff member on Wednesday as part of a probe into what it knew about alleged manipulation of world currency markets and revealed that rigging allegations had been flagged as far back as mid-2006.
LONDON, March 5- The Bank of England suspended a staff member on Wednesday as part of an internal investigation into what it knew about alleged manipulation of world currency markets. The central bank also released minutes that said allegations had been raised as long ago as July 2006 that manipulation was occurring in the so-called benchmark fixings.
*Societe Generale says lawsuit's claims unsubstantiated. In the filing with the U.S. District Court in Manhattan dated March 3, New York resident Kevin Maher, who says he bought and sold gold and gold futures and options, alleged the banks overseeing the benchmark- Societe Generale, Deutsche Bank, Barclays, Bank of Nova Scotia and HSBC- colluded to manipulate it.
*Default positive for rational risk pricing in China- analysts. The warning by Shanghai Chaori Solar Energy Science and Technology Co Ltd highlights rising credit risk in China, where a massive run-up in corporate debt since 2008- and overcapacity in sectors such as steel, coal and solar- have threatened the solvency of many borrowers.
SINGAPORE, March 5- Brent crude held steady above $109 a barrel on Wednesday after pulling back in the previous session from a two-month high as fears eased that tensions over Russia's incursion into Ukraine territory could lead to war.
SAN FRANCISCO, March 4- Apple Inc's Chief Financial Officer Peter Oppenheimer will retire and hand the reins to Luca Maestri in September, entrusting to the Italian-born executive a cash pile the size of Vietnam's economy and the difficult task of guiding Wall Street's expectations. The 50- year-old born in Rome is taking over with Apple at a crossroads.
SAN FRANCISCO, March 4- Apple Inc's Chief Financial Officer Peter Oppenheimer will retire and hand the reins to Luca Maestri in September, transferring financial stewardship of the world's largest technology company to the Italian-born corporate controller. Apple's shares were up 0.6 percent at $530.87.
As global stocks stage a big rebound, one market watcher says the initial plunge was a major pressure point for Russia's Vladimir Putin concerning Ukraine.
WASHINGTON, March 3- U.S. factory activity rebounded last month from an eight-month low and consumer spending increased more than expected in January, suggesting the economy was regaining some strength after abruptly slowing in recent months.
*GM, Ford, Chrysler, Nissan top sales expectations. *Toyota, Honda fall short of forecasts. While General Motors Co, Ford Motor Co and Chrysler Group all reported stronger-than-expected sales, the higher incentives raised concerns about industry profitability in the future.
*Toyota sales down 4 percent, missing expectations. *Chrysler, Nissan beat sales expectations. DETROIT, March 3- U.S. auto sales in February were slightly brisker than expected as hefty incentives lured customers into dealerships late in the month despite cold and snowy weather, raising concerns about industry profitability.
SYDNEY/ TOKYO, March 3- The Japanese yen gained broadly on Monday while investors sold risk currencies such as the Australian dollar after Ukraine's mobilisation to counter possible Russian invasion heightened geopolitical risks. The U.S. also threatened to isolate Russia economically in Moscow's biggest confrontation with the West since the Cold War.
LONDON, March 2- Take your pick of the most important economic event of the coming week- forward-looking global activity data, interest rate decisions in Europe or a spot-check on U.S. jobs after a month of particularly bad weather.
NEW YORK, Feb 28- Commodity revenues fell nearly 40 percent at Morgan Stanley and remained flat at Goldman Sachs Group Inc last year, according to filings from the two biggest Wall Street commodities players that face a changing regulatory landscape.
SHANGHAI, Feb 28- China's central bank delivered two major surprises to investors this week: it engineered a sharp decline in the yuan against the dollar and at the same time relaxed its tight grip on money markets that had kept interest rates firm.
*Cheung Kong, Sun Hung Kai best placed to benefit from mass-market demand. HONG KONG, Feb 28- When things get choppy at the top of the property ladder, it pays to have your feet planted on the middle rungs, which makes developers Cheung Kong and Sun Hung Kai Properties the best bets to weather the storm brewing in Hong Kong.