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Updated: 12 hours 37 min ago

Facebook beats Wall Street targets, stock hits record high

Thu, 24/07/2014 - 02:06
SAN FRANCISCO (Reuters) - Facebook Inc's fast-growing mobile advertising business helped drive a 61 percent increase in revenue during the second quarter, beating Wall Street's financial targets and sending shares to a record-high in after-hours trading on Wednesday.

Standard Chartered dismisses media rumours on succession plans

Thu, 24/07/2014 - 01:26
(Reuters) - Standard Chartered Plc dismissed media rumours that its chairman was working on a succession plan amid shareholder pressure.

Poll shows UK homeowner confidence stalls for first time in 18 months - YouGov

Thu, 24/07/2014 - 00:05
LONDON (Reuters) - One measure of consumer confidence in Britain stalled for the first time since December 2012 this month as fewer people expect house prices to rise, a survey by polling company YouGov showed on Thursday.

UK car production boosted by new models in first half of 2014

Thu, 24/07/2014 - 00:04
LONDON (Reuters) - British car production showed annual growth of more than 3 percent in the first six months of 2014 thanks to new models and further expansion is expected, an automotive industry body said on Thursday.

Facebook beats Wall Street targets, stock hits record high

Wed, 23/07/2014 - 23:16
SAN FRANCISCO (Reuters) - Facebook Inc's fast-growing mobile advertising business helped drive a 61 percent increase in revenue during the second quarter, beating Wall Street's financial targets and sending shares to a record-high in after-hours trading on Wednesday.

GM recalls 717,950 vehicles in U.S., not for ignition switches

Wed, 23/07/2014 - 22:17
DETROIT (Reuters) - General Motors Co on Wednesday announced six recalls covering 717,950 vehicles in the United States for varying reasons, although none were related to ignition switch issues.

UBS says bail in French tax evasion probe set at $1.48 billion

Wed, 23/07/2014 - 22:13
ZURICH/PARIS (Reuters) - Swiss bank UBS said it had been ordered by French officials on Wednesday to pay 1.1 billion euros (869 million pounds) in bail after being put under formal investigation over allegations it laundered the proceeds of tax evasion.

British regulator, banks near forex-rigging settlement - Bloomberg

Wed, 23/07/2014 - 19:55
(Reuters) - Britain’s markets regulator and a group of global banks are in talks to reach a first settlement in a currency-rigging probe, with a deal possible this year, Bloomberg reported.

Yum China cuts ties to owner of plant in meat scandal after arrests

Wed, 23/07/2014 - 19:10
SHANGHAI/LANGFANG China (Reuters) - Yum Brands Inc's China division severed ties to OSI China after Shanghai police detained five people from that supplier's meat processing factory at the centre of a food safety scare that has ensnared several major Western brands.

EU approves UK capacity market, renewable support scheme

Wed, 23/07/2014 - 17:37
LONDON (Reuters) - The European Commission gave the go-ahead to Britain's proposed energy capacity market and a scheme to support renewable energy generation on Wednesday, paving the way for sweeping reform of the country's electricity market.

Tanker charge tarnishes Boeing's 2nd-quarter profit

Wed, 23/07/2014 - 17:33
(Reuters) - Boeing Co reported a 52 percent jump in quarterly profit, helped by higher commercial plane deliveries and one-time tax gains, but investors were spooked by rising costs in its military tanker programme.

British fraud prosecutor signals possible forex charges next year

Wed, 23/07/2014 - 17:32
LONDON (Reuters) - British prosecutors could charge the first individuals in connection with a global investigation into alleged manipulation of currency markets as soon as next year, the head of the country's Serious Fraud Office (SFO) said on Wednesday.

GSK clips wings of UK's FTSE after warning

Wed, 23/07/2014 - 16:56
LONDON (Reuters) - A profit warning by heavyweight drugs firm GlaxoSmithKline took the shine of Britain's top equity index on Wednesday, offsetting gains in outsourcing group Capita and miner BHP Billiton.

Alstom says record first-quarter transport orders offset low power sales

Wed, 23/07/2014 - 06:24
PARIS (Reuters) - French engineering group Alstom achieved record quarterly orders for rail equipment that offset a drop in sales at its power arm, most of which General Electric recently agreed to buy for 12.4 billion euros (9.7 billion pounds).

Shanghai police detain five in McDonald's, Yum-linked China food safety probe

Wed, 23/07/2014 - 06:18
SHANGHAI (Reuters) - Shanghai police said they have detained five people in an investigation into a Chinese-based supplier of foreign brands including KFC-parent Yum Brands Inc, McDonald's Corp and coffee chain Starbucks Corp over allegations the firm supplied its clients with stale meat.

StubHub was victim of cyber fraud ring; arrests to be announced

Wed, 23/07/2014 - 05:48
SEATTLE/BOSTON (Reuters) - eBay Inc's StubHub online ticket resale service said it was the victim of a massive international cyber fraud ring, the details of which authorities plan to disclose on Wednesday as they announce arrests in the case.

BOJ Deputy Governor Nakaso says end of deflation in sight

Wed, 23/07/2014 - 04:14
SHIZUOKA Japan (Reuters) - Bank of Japan Deputy Governor Hiroshi Nakaso said the country was eyeing an end to deflation as rising wages and inflation expectations allow companies to increase prices of their goods, signalling confidence over a sustained economic recovery.

RBS 'wilfully obtuse' in turnaround unit evidence - UK lawmaker

Wed, 23/07/2014 - 03:56
LONDON (Reuters) - Royal Bank of Scotland was "wilfully obtuse" when giving evidence to lawmakers examining whether its corporate turnaround division had been used to make money out of small businesses, the chairman of a British parliamentary committee said.

Asia stocks rise as risk aversion wanes, Aussie spikes

Wed, 23/07/2014 - 03:56
TOKYO (Reuters) - Asian stocks edged up on Wednesday as risk aversion triggered by recent geopolitical tensions continued to ebb, while the Australian dollar spiked on stronger-than-expected inflation data.

Paul Fisher says Bank of England delivered recovery - The Independent

Wed, 23/07/2014 - 03:20
(Reuters) - Bank of England economist Paul Fisher credited quantitative easing and the bank's Funding for Lending Scheme for the recovery that kicked in last year in an interview on Wednesday with the Independent.