The Traderszone Network

Policymakers must ensure that financial industry creditors do not expect government bailouts and must be willing to let firms fail in order to restore market discipline, a top Federal Reserve official said on Tuesday. The remarks by Jeffrey Lacker, president of the Richmond Federal Reserve Bank, repeated much of what he has previously said about what regulators need to do to make the financial system safer. Lacker, a voting member this year on the Fed’s policy-setting committee, did not discuss monetary policy.

Swiss cement maker Holcim and French merger partner Lafarge said on Wednesday they had finalised the make-up of the future 10-member executive committee of the combined LafargeHolcim. The companies confirmed …

Automakers and safety regulators could take months to nail down why air bag inflators made by Takata Corp (7312.T) are exploding with too much force, meaning consumers cannot be certain replacement inflators installed under a sweeping recall are safe, industry officials involved in the process said. Replacement inflators that are currently being installed could eventually need to be replaced if it turns out that the real problem was not addressed before Takata began making parts to fix about 34 million vehicles covered by the expanded U.S.

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Former Federal Reserve Chairman Ben Bernanke said that China’s economic slowdown should not worry markets as there was no risk of a hard landing, and emphasized that a move to raise U.S. rates should be viewed as a positive sign for the world’s largest economy. Bernanke, who participated in an open interview at a private-sector forum in Seoul on Wednesday, said the expected U.S. rate hike would be “anticlimactic” when it happens and that there would only be minor negative impact on South Korea.

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ATHENS/BRUSSELS (Reuters) – Greece and its European creditors on Tuesday sought to play down fears that Athens would default on a payment to the International Monetary Fund next week. Running short of cash to pay public sector salaries, pensions and debt obligations, senior members of Prime Minister Alexis Tsipras’s government have said openly that Greece does not have the money to pay 300 million euros to the IMF on June 5. The comments drew a positive reaction in Germany, Greece’s biggest creditor and one of its toughest critics in long-running aid negotiations with its EU and IMF lenders.

BYD Co Ltd (1211.HK) plans to use funds raised in a potential private placement to boost battery production capacity and develop new models, said the Chinese automaker backed by billionaire Warren Buffett’s Berkshire Hathaway Inc (BRKa.N). On Tuesday, Thomson Reuters publication IFR reported that BYD was planning to raise up to 12 billion yuan ($1.9 billion) in the placement. BYD halted trading in both H- and A-shares on Monday, saying it was preparing for a potential private placement.

The U.S. Supreme Court on Tuesday ruled against Cisco Systems Inc(CSCO.O) over a patent infringement claim the tech giant is fighting. On a 6-2 vote, with Justice Stephen Breyer recused from the case, the court threw out a ruling by the U.S. Court of Appeals for the Federal Circuit in favor of Cisco. The case concerns a patent held by Commil USA LLC on a way to improve the implementation of a wireless network where multiple access points are needed.