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WASHINGTON - The International Monetary Fund stepped up its warnings Monday on risks to the global economy, especially coming from Europe, as it trimmed its growth forecast for the rest of the year.
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India’s headline inflation slowed to its lowest level in five months in June, helped by slower increases in fuel prices, adding to pressure on the central bank from business leaders to cut interest rates to help revive the lacklustre economy.
Gold traded little changed on Monday as investors stayed on the sidelines ahead of a presentation by the US Federal Reserve chief later in the week that will be scoured for clues on the central bank’s attitude to another round of quantitative easing.
Samsung Electronics Co Ltd increased its lead over Apple Inc and Nokia Oyj in the global cellphone market in the second quarter, helped by strong demand and large marketing campaigns for its latest flagship model, the Galaxy S III, according to a Reuters poll.
Asian shares edged higher Monday on the back of a strong Wall Street rally, but Chinese stocks plunged to a new three-year low after growth in the world’s second-largest economy slowed.
Financial markets were subdued Monday ahead of a raft of US corporate earnings statements that should shed more light on the state of the US economic recovery, while the euro fell to a fresh two-year low against the dollar amid ongoing concerns over Europe’s debt crisis.
Automobile major Tata Motors Group Monday reported an increase of six percent in its June global sales including healthy sales growth of Jaguar Land Rover brand.
Ford Motor Co. is recalling 8,266 redesigned 2013 Escape SUVs in the US to fix carpet padding that could get in the way of braking.
NEW YORK — Visa, MasterCard and major banks agreed to pay retailers at least $6 billion to settle a long-running lawsuit that alleged the card issuers conspired to fix the fees that stores pay to accept credit cards. As part of the settlement, stores from Rite Aid to Kroger will be allowed to charge customers more if they pay using a credit card.
NEW YORK — Visa, MasterCard and major banks agreed to pay retailers at least $6 billion to settle a long-running lawsuit that alleged the card issuers conspired to fix the fees that stores pay to accept credit cards. As part of the settlement, stores from Rite Aid to Kroger will be allowed to charge customers more if they pay using a credit card.
