MONEY (MSM)
The move underscores the growth prospects of Hostess as well as its quick turnaround. In 2013 the Kansas City, Missouri-based company was picked up from bankruptcy by private equity firm Apollo Global Management LLC (APO.N) and consumer industry investor C. Dean Metropoulos for $410 million. Hostess, which launched a process to sell itself earlier this year, snubbed offers in recent weeks from other companies and private equity firms that valued
The American Toyota executive who was arrested in Japan last month on suspicion of drug law violations is expected to be released Wednesday without being prosecuted, according to Japan’s Kyodo News service. …
The U.S. trade deficit widened in May, fueled by a drop in exports that could heighten concerns over weak overseas demand and a strong U.S. dollar. The Commerce Department reported on Tuesday that the trade gap grew $1.2 billion to $41.9 billion.
Greek Prime Minister Alexis Tsipras had a final chance to present credible reform proposals to an emergency euro zone summit on Tuesday to persuade skeptical creditors to reopen aid talks before his country’s banks run out of money. With Greek lenders down to their last few days of cash and the European Central Bank tightening the noose on their funding, Tsipras must convince the bloc’s other 18 leaders, many of
Greece is at the last chance saloon, thirsty and out of credit, and its next stop could be the badlands of euro exit.
The Greek economy may face more trouble after voters delivered a defiant no to the terms of a bailout, but tourists remain undeterred and the prospect of rock-bottom prices may even be increasing interest. Travel associations in Britain, Germany and France report no cancellations so far and say bookings have been strong. In fact, searches for flights to Greece from Britain and Spain are up in recent days, says travel
Italian, Spanish and Portuguese bond yields each rose 10 to 20 basis points on Monday after an overwhelming Greek vote against EU-prescribed austerity measures that could set Athens on a path out of the euro zone. The moves were modest, within the trading ranges of the past three weeks, as investor faith in the European Central Bank’s firewalls protected the weaker euro zone economies. The resignation of Greece’s combative Finance
Amid the country’s worst stock slump since 1992, President Xi Jinping’s government is dusting off its Communist Party playbook and unleashing all manner of state interventions to halt the slide in share prices. For now, though, the visible hand is back, with stabilizing equity markets as priority one. The Shanghai Composite Index has fallen 27 percent since its June 12 peak, posing policy makers with a dilemma: How to maintain
Growth at U.S. service industries picked up in June from a more than one-year low, signaling steady improvement in the biggest part of the economy. Homebuilders such as KB Home are optimistic that business will pick up alongside a strengthening recovery.
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