Ex-Goldman VP Tourre loses bid to narrow SEC fraud case
NEW YORK (Reuters) – Former Goldman Sachs Group Inc Vice President Fabrice Tourre lost a bid to limit a U.S. Securities and Exchange Commission civil fraud case against him over a transaction that led to a $550 million settlement by the Wall Street ban…
IKEA founder steps further back, youngest son takes key role
STOCKHOLM (Reuters) – Ingvar Kamprad, creator of Swedish furniture retailer IKEA, is to take another step back from his company as the youngest of his three sons takes a key board role in a gradual handover of power.
Job gains seen lackluster, may temper Fed taper talk
WASHINGTON (Reuters) – Job growth probably picked up only slightly in May, suggesting the economy is still in a rut and not ready for the Federal Reserve to dial back its monetary support.
GM rejoins S&P 500 four years after U.S. bailout
DETROIT (Reuters) – General Motors Co will rejoin the S&P 500 index this week, marking a key milestone in the recovery of a company that needed billions of dollars to stay afloat during the financial crisis.
AMR can send restructuring plan to creditors for a vote: judge
NEW YORK (Reuters) – American Airlines’ bankrupt parent received court permission on Tuesday to send its restructuring plan to creditors for a vote, bringing its planned $11 billion merger with US Airways Group a step closer to reality.
Senators mull timetable for liquidating Fannie Mae, Freddie Mac
WASHINGTON (Reuters) – Mortgage financiers Fannie Mae and Freddie Mac would be liquidated within five years and replaced by an entity offering government reinsurance for mortgage-backed debt under draft legislation from a bipartisan group of U.S. senat…
Airlines push new booking platform, IT firms wary
CAPE TOWN (Reuters) – The airline industry is set to allow consumers to see more details of what they are booking using a new online reservation platform, a project that poses a threat to many travel technology firms working with older systems.
DoubleLine Floating Rate Fund opens to public on July 1
NEW YORK (Reuters) – DoubleLine Capital LP, the investment firm run by bond investor Jeffrey Gundlach, will open the DoubleLine Floating Rate Fund to the public on July 1, the firm said on Tuesday.
IMF’S Lagarde says U.S. facing self-inflicted wound on economy
WASHINGTON (Reuters) – The U.S. economy would be faring much better were it not for the “self-inflicted” wound of tighter fiscal policy, the head of the International Monetary Fund said on Tuesday.
HSBC sued by New York over foreclosure abuses
BUFFALO, N.Y./NEW YORK (Reuters) – New York state sued HSBC Holdings Plc for ignoring a law designed to protect struggling homeowners from being thrown into foreclosure without getting a chance to renegotiate their mortgages.
