Twice-convicted ex-Jefferies trader faces prison after losing bail request
NEW YORK (Reuters) – A federal appeals court on Tuesday rejected former Jefferies Group mortgage bond trader Jesse Litvak’s request to stay out of prison while he appeals his second conviction and two-year sentence for defrauding customers on bond pric…
U.S. regulators propose delaying stricter rules for smaller banks
WASHINGTON (Reuters) – U.S. bank regulators proposed on Tuesday holding off on implementing stricter capital rules for smaller banks while the agencies review ways to simplify requirements for less complex institutions.
Berkshire Hathaway no longer faces risk of S&P downgrade
(Reuters) – Warren Buffett’s failure to clinch a $9 billion takeover of the Texas utility Oncor prompted S&P Global Ratings on Tuesday to say the billionaire’s Berkshire Hathaway Inc is no longer at risk of a credit rating downgrade.
U.S. targets Chinese, Russia entities for helping North Korea
WASHINGTON (Reuters) – The United States on Tuesday imposed new North Korea-related sanctions, targeting Chinese and Russian firms and individuals for supporting Pyongyang’s weapons programs, but stopped short of an anticipated focus on Chinese banks.
Blackstone explores IPO of Gates Global: sources
(Reuters) – Private equity firm Blackstone Group LP is exploring an initial public offering (IPO) of Gates Global LLC, three years after it acquired the U.S. auto parts and building products maker for $5.4 billion, people familiar with the matter said…
Fed banks unanimous in keeping discount rate unchanged in July: minutes
WASHINGTON (Reuters) – All of the Federal Reserve’s 12 regional banks wanted to hold steady the rate commercial banks are charged for emergency loans ahead of the U.S central bank’s last policy meeting, minutes from a discussion of the discount rate sh…
Chevron CEO Watson to step down, Wirth likely successor: source
HOUSTON (Reuters) – Chevron Corp Chief Executive John Watson will step down by the end of next month and likely be replaced by Vice Chairman Mike Wirth, a source familiar with the matter told Reuters on Tuesday.
Ryanair says would be interested in buying all of Air Berlin
BERLIN (Reuters) – Ryanair would be interested in making a bid for the whole of insolvent German carrier Air Berlin , but it needs access to more data on the airline’s finances, its chief executive told Reuters.
U.S. trade panel begins patent probe against Caterpillar
WASHINGTON (Reuters) – The U.S. International Trade Commission said on Tuesday it would begin a patent infringement probe of road milling equipment by Caterpiller and several subsidiaries after a complaint by Wirtgen America, the U.S. subsidiary of a …
Threat of price war clouds horizon for Maersk shipping business
COPENHAGEN (Reuters) – A.P. Moller-Maersk has been fortified by the $7.5 billion sale of its oil and gas business to France’s Total, but the company’s main sea freight business faces the threat of a new price war in a consolidating industry.
