China services growth modest, adds to economy concerns
BEIJING (Reuters) – Activity in China’s services sector expanded in May but at a pace little changed from the month before, the latest sign that the world’s No. 2 economy is struggling to regain momentum.
Tesla CEO fights for new electric-car sales model in U.S.
DETROIT/AUSTIN, Texas (Reuters) – Elon Musk, the chief executive of electric carmaker Tesla Motors Inc, criticized the traditional way of selling cars in the United States and indicated the model would hamper the 10-year-old U.S. automaker’s growth pro…
U.S. agency: Apple infringes Samsung patent on older iPhones, iPads
WASHINGTON (Reuters) – Samsung Electronics scored a victory over rival Apple Inc in their long-running dispute over mobile device patents after a U.S. trade agency issued an order banning older but still-popular Apple products from the U.S. market.
Fed poised to evaluate bond buys, ‘fine tune’ tactics: Fisher
TORONTO (Reuters) – The Federal Reserve is poised to evaluate and potentially make changes to its massive monetary stimulus, a top Fed official who is critical of the Fed’s bond-buying program said on Tuesday.
China plans to cut red tape to boost foreign investment: paper
SHANGHAI (Reuters) – China plans to gradually begin easing applications and approval procedures for foreign investors, the official China Securities Journal reported on Wednesday, citing remarks by a senior official from the Ministry of Commerce at a c…
AIG argues against $8.5 billion settlement with BofA
NEW YORK (Reuters) – American International Group Inc argued on Tuesday that a proposed $8.5 billion settlement between Bank of America Corp and investors in Countrywide Financial Corp mortgage-backed securities was not big enough.
Argentine court lifts Chevron asset freeze
BUENOS AIRES (Reuters) – Argentina’s Supreme Court on Tuesday lifted a freeze that had been placed on Chevron Corp assets in the country, clearing the way for the U.S. oil giant to go ahead with a shale oil venture with Argentina’s YPF .
MF Global ends bankruptcy as trustee Freeh steps down
NEW YORK (Reuters) – Collapsed brokerage MF Global Holdings Ltd on Tuesday effectively ended its bankruptcy, saying court-appointed trustee Louis Freeh will step down and hand the estate’s remaining wind-down duties to a new three-member board.
Glass Lewis tells investors to hold off on Sprint-SoftBank vote
NEW YORK (Reuters) – Sprint Nextel Corp shareholders should not vote on SoftBank Corp’s takeover bid on June 12 as Dish Network’s rival $25.5 billion offer was still being reviewed, proxy advisory firm Glass Lewis said on Tuesday.
Penguin CEO takes stand in Apple e-books antitrust case
NEW YORK (Reuters) – The chief executive of U.S. publisher Penguin testified Tuesday that a provision in its e-books contract with Apple Inc played a role in a decision to change its contracts with other retailers, such as Amazon.com Inc.
