FedEx Profit Tops Estimates, Sees Modest Recovery

Germany backs IMF bail-out for Greece

Berlin decides that Athens will have to turn to the International Monetary Fund if it needs financial assistance to back its austerity programme, rather than to fellow members of the eurozone

Greek worries return to unsettle investors

Concerns about Greek indebtedness return, dragging the euro down and knocking equity markets from their recent highs

FedEx profits surge in third quarter

Package giant beats expectations and upgrades earnings outlook after ‘modest’ economic recovery fuels shipment growth

JPMorgan loses dispute over advisory fees

An Australian court has dismissed the investment bank’s claim for A$50.8m in fees from Consolidated Minerals, following a three-way takeover battle that drove up the miner’s market value

Greek worries rattle euro, world stocks dip

LONDON (Reuters) – World stocks slipped back from recent closing highs on Thursday and the euro fell half a percent against the dollar on worries about Greece not receiving European Union aid.


U.S. tells China yuan issue is of "real concern"

BEIJING (Reuters) – The United States kept up pressure on China on Thursday to let the yuan climb as Beijing disclosed it was sounding out exporters on whether they could cope with a stronger exchange rate.


Asia stocks near 2-month high, outlook positive

HONG KONG (Reuters) – Asian stocks hovered near a two-month high on Thursday, with expectations for continued low global interest rates and modest inflation expected to support equity markets in the near term.


Bernanke defends Fed small bank supervision role

WASHINGTON (Reuters) – Top central bankers present and past on Wednesday joined forces against a plan to strip the Fed of its oversight of smaller banks, saying the knowledge it gains from that role is vital to monetary policy.


Fed chief defends role as watchdog

Ben Bernanke, chairman of the Federal Reserve, warned that US monetary policy and financial stability would be damaged if Congress limits the Fed’s regulatory powers

Oil groups urge Indian wealth fund

India is facing demands from the local state-owned oil industry to create its first sovereign wealth fund to compete with China in the race to secure global energy assets

Beijing warned of business damage from text crackdown

Chinese internet company says crackdown on mobile text messaging is starting to hurt its business

Four banks face trial over derivatives deals

UBS, JPMorgan Chase, Deutsche Bank and Depfa were charged with fraud for their roles in a €1.7bn financing package for the Italian city of Milan in a case that will fuel debate about the use of complex derivatives

Dow hits 17-month high on energy, financials

NEW YORK (Reuters) – Stocks gained on Wednesday, pushing the Dow to a 17-month high, after a benign February inflation reading supported the Federal Reserve’s renewed pledge of low interest rates.


Producer prices fall on lower energy costs

WASHINGTON (Reuters) – U.S. producer prices in February posted their biggest fall in seven months as energy costs tumbled, validating the Federal Reserve’s decision to hold interest rates very low on evidence of tame inflation.


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