Japan’s central bank shocks markets with more easing as inflation slows

Japan’s central bank shocks markets with more easing as inflation slows

By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) – The Bank of Japan shocked global financial markets on Friday by expanding its massive stimulus spending in a stark admission that economic growth and inflation have not picked up as much as expected after a sales tax hike in April. BOJ Governor Haruhiko Kuroda portrayed the [...]

Wal-Mart to expand discounts as retail price war heats up

Wal-Mart to expand discounts as retail price war heats up

(Reuters) – Wal-Mart Stores Inc said it will expand its offering of discounted products during the holiday season and may broaden a price-matching scheme to include online rivals, in the latest sign of an escalating price war among big U.S. retailers. Wal-Mart said it was bracing for competition to be as tough or tougher than [...]

Euro zone inflation edges up to dim chance of new ECB action

Euro zone inflation edges up to dim chance of new ECB action

By Robert-Jan Bartunek BRUSSELS (Reuters) – Inflation in the 18 countries sharing the euro edged up slightly in October, reinforcing the view that the European Central Bank will hold fire on any additional policy action at its meeting next week. A first estimate on Friday from the European Union’s statistics office showed consumer prices in [...]

Kurds’ battle for Kobani unites a people divided by borders

Kurds’ battle for Kobani unites a people divided by borders

By Isabel Coles ARBIL Iraq (Reuters) – Cloaked in Kurdish flags, thousands of people lined the roads to cheer on a military convoy headed for what was — until recently — an obscure Syrian border town, now the focus of a global war against the militants of Islamic State. The Iraqi Kurdish peshmerga were on [...]

Boeing exec says NASA crash underscores need for new U.S. engine

By Andrea Shalal WASHINGTON (Reuters) – The crash of an unmanned Orbital Sciences Antares rocket is a "wake-up call" to the U.S. space community about the need to develop a new U.S. rocket engine, the head of Boeing Co’s defense division said on Thursday. Chris Chadwick, chief executive of Boeing Defense, Space and Security, said [...]

Special Report: Tsunami evacuees caught in $30 billion Japan money trap

Special Report: Tsunami evacuees caught in $30 billion Japan money trap

By Taiga Uranaka and Antoni Slodkowski ISHINOMAKI Japan (Reuters) – Thirty billion dollars in funding for roads, bridges and thousands of new homes in areas devastated by the tsunami in Japan three and a half years ago is still languishing unspent in the bank. That means Keiko Abe is heading into a fourth winter of [...]

Suspect in Pennsylvania police ambush denied bail

Suspect in Pennsylvania police ambush denied bail

By Joe McDonald MILFORD Pa. (Reuters) – A bruised and gaunt Eric Frein, captured after a seven-week manhunt and wearing the handcuffs of the Pennsylvania trooper he is accused of killing, was held without bail on Friday after his first court appearance on first-degree murder and other charges. The 31-year-old survivalist, who prosecutors say will [...]

Citigroup sets aside $600 million more to cover legal costs

Citigroup sets aside $600 million more to cover legal costs

By David Henry and Ankur Banerjee (Reuters) – Citigroup Inc <C.N> said it was setting aside an extra $600 million to cover legal expenses in the third quarter due to "rapidly evolving regulatory inquiries," while also disclosing that it was subject to foreign exchange market probes. Citigroup is one of six major banks that are [...]

Starbucks Americas sales disappoint on softer traffic

Starbucks Americas sales disappoint on softer traffic

(Reuters) – Starbucks Corp’s early re-launch of its popular Pumpkin Spice latte drink failed to heat up business at its U.S. cafes, disappointing Wall Street and sending the company’s shares down almost 5 percent. The world’s biggest coffee chain said a 1 percent increase in traffic contributed to a 5 percent gain in sales for [...]

Stockton, California, workers relieved as judge ruling secures pensions

Stockton, California, workers relieved as judge ruling secures pensions

By Robin Respaut SACRAMENTO (Reuters) – Stockton, California, employees breathed a sigh of relief on Thursday as a judge ruled the city could exit bankruptcy, leaving benefits administered by public pension giant Calpers untouched. The ruling, however, left investors and analysts confused about how pension funds stacked up in terms of their priority of treatment [...]