IRS Data Breach Draws Capitol Hill Scrutiny

TODAY: May 28, 2015 PUB DATE: May 28, 2015

By John D. McKinnon Lawmakers are stepping up their scrutiny of computer security at the Internal Revenue Service in the wake of a serious data breach affecting at least 100,000 households. Sen. Orrin Hatch (R., Utah), the chairman of the ...

EU Officials Play Down Greek Talk of Deal Soon

TODAY: May 28, 2015 PUB DATE: May 28, 2015

ATHENS—Officials in Athens suggested that talks with Greece's creditors over fresh bailout funds had reached a final stage, though European Union officials said negotiators still had much work to do before sealing a deal. Teams from Greece and its international ...

Swiss April Exports Slip As Franc Hits Demand

TODAY: May 28, 2015 PUB DATE: May 28, 2015

By Neil MacLucas ZURICH--Switzerland's exports declined in April as the strength of the Swiss franc curbed demand in the European Union and the U.S. for its chemicals, pharmaceuticals and watches. Exports in April fell 1.3% from a year earlier, in ...

Brazil's Senate Clears Second Austerity Bill

TODAY: May 28, 2015 PUB DATE: May 28, 2015

By Paulo Trevisani And Djania Savoldi BRASÍLIA--The Brazilian Senate on Wednesday approved a controversial bill meant to save taxpayer money by reducing pension payments to widows. The measure is part of a broader effort to reduce the government's high debt ...

Australian Businesses Scale Back Investment Plans, A$ Slumps

TODAY: May 28, 2015 PUB DATE: May 28, 2015

By James Glynn SYDNEY--Australian firms sharply scaled back planned investment over the coming year, as the downturn in mining accelerates and creates a stiff headwind for growth. The Australian dollar shed close to half a U.S. cent as the government ...

Brazil's Senate Clears Second Austerity Bill -- Update

TODAY: May 28, 2015 PUB DATE: May 28, 2015

By Paulo Trevisani And Djania Savoldi BRASÍLIA--The Brazilian Senate on Wednesday approved a controversial bill meant to save taxpayer money by reducing pension payments to widows. The measure is part of a broader effort to reduce the government's high debt ...

Oil Rangebound Ahead of Weekly U.S. Inventory Data

TODAY: May 28, 2015 PUB DATE: May 28, 2015

By Eric Yep Crude-oil futures stabilized in Asian trade Thursday after another round of overnight losses, and investors will be looking to weekly U.S. oil inventory data due today for more cues. On the New York Mercantile Exchange, light, sweet ...

ICTSI Buys Mexican Port Developer For $54.5 Million

TODAY: May 28, 2015 PUB DATE: May 28, 2015

By Cris Larano MANILA--Philippine-based port operator International Container Terminal Services Inc. (ICT.PH) said Thursday it acquired all the shares in Terminal Maritima de Tuxpan, S.A. de C.V. for $54.5 million. Terminal Maritima has a concession to build and operate a ...

Bids Fly as GE Unit Auction Nears an End -- 2nd Update

TODAY: May 28, 2015 PUB DATE: May 28, 2015

By Ryan Dezember And Gillian Tan Several private-equity firms are vying to buy General Electric Co.'s unit that funds leveraged buyouts, in a sale process that could fetch more than $17 billion for GE and be the largest U.S. finance ...

Costco Wholesale Posts Higher Profit, Revenue

TODAY: May 28, 2015 PUB DATE: May 28, 2015

By Maria Armental Costco Wholesale Corp's third-quarter profit rose as the company continues to benefit from low gas prices, strong store sales and membership fees. The second-largest retailer in the U.S. behind Wal-Mart Stores Inc. and one of the largest ...

Chevron Raises Over $59 Million From Refining New Zealand Stake Sale

TODAY: May 28, 2015 PUB DATE: May 28, 2015

By Rebecca Howard WELLINGTON, New Zealand-- Chevron Corp.--the second-biggest U.S. oil producer by market value after Exxon Mobil Corp--has further reshaped its Asia-Pacific footprint by selling a stake in the operator of New Zealand's sole refinery. Chevron raised more than ...

Japan Retail Sales Regain Ground

TODAY: May 28, 2015 PUB DATE: May 28, 2015

TOKYO—Japanese retail sales jumped 5.0% from a year earlier in April, government data showed Thursday, regaining some ground after a tax-induced lull last year. But spending was almost flat from a month earlier, indicating that the effects of spring wage ...

Sovereign Demand Continues to Grow

Sovereign Demand Continues to Grow

TODAY: May 28, 2015 PUB DATE: May 28, 2015

Mukhtar Hussain, Deputy Chairman & CEO of HSBC Bank Malaysia Berhad There is no lack of demand for shariah-compliant financing, according to Mukhtar Hussain, deputy chairman and CEO of HSBC Bank Malaysia Berhad. Hussain recently took part in an international ...

Tax Identity Theft Victims Cite Woes With IRS

TODAY: May 28, 2015 PUB DATE: May 28, 2015

By Laura Saunders The Internal Revenue Service's announcement Tuesday of a data breach affecting more than 100,000 households has prompted fresh complaints from victims of tax identity theft about delayed refunds, red tape, cumbersome IRS procedures and continued effects on ...

Nationalist Party Leader to Become Finland's Foreign Minister

TODAY: May 28, 2015 PUB DATE: May 28, 2015

HELSINKI—The euroskeptic leader of Finland's nationalist party, the Finns Party, will become foreign minister in a three-way coalition cabinet that has vowed to repair the country's recession-choked economy through deep spending cuts. The Finns Party leader, Timo Soini, will serve ...

Sunac Drops Kaisa Takeover Plan--Update

TODAY: May 28, 2015 PUB DATE: May 28, 2015

By Esther Fung SHANGHAI-- Sunac China Holdings Ltd. terminated its $1.19 billion deal to acquire Kaisa Group Holdings Ltd., ending a struggle for control of a property developer that had defaulted on its loans and bond payments earlier this year. ...

Sunac Drops Kaisa Takeover Plan

TODAY: May 28, 2015 PUB DATE: May 28, 2015

SHANGHAI—Chinese property developer Sunac China Holdings Ltd. said Thursday it is terminating its takeover attempt of Shenzhen-based Kaisa Group Holdings Ltd., a struggling property developer that defaulted on its loans and bond payments earlier this year. "After careful consideration of ...

CURRENCIES: Dollar Taps A 12-year High Against Yen

TODAY: May 28, 2015 PUB DATE: May 28, 2015

By Hiroyuki Kachi Analysts on the lookout for uneasy U.S., Japan officials The dollar hit its highest level in more than 12 years against the yen in Asia Thursday, with the U.S. currency's rapid pace of gains putting market participants ...