Ex-Comverse CEO pleads guilty to fraud, a decade after fleeing to Africa
NEW YORK (Reuters) – The former chief executive officer of Comverse Technology Inc pleaded guilty to securities fraud on Wednesday and was ordered detained a decade after fleeing the United States for Namibia to avoid prosecution.
Puerto Rico cannot enforce a Wal-Mart tax: U.S. appeals court
NEW YORK (Reuters) – A U.S. appeals court on Wednesday said cash-strapped Puerto Rico cannot force Wal-Mart Stores Inc’s affiliate on the island to pay a special corporate tax that the retailer claimed was discriminatory and violated the U.S. Constitu…
Wall St. falls as healthcare, materials stumble
NEW YORK (Reuters) – Wall Street retreated on Wednesday, pulled lower by weakness in the materials and healthcare sectors as investors continued to weigh the possibility of an interest rate hike in the coming months.
U.S. crude down 3 percent after big stockpile build
NEW YORK (Reuters) – Oil prices tumbled on Wednesday, with U.S. crude settling about 3 percent lower, after an unexpectedly large inventory build in the world’s biggest oil consumer renewed worries about oversupply.
U.S. banking regulators focused on cyber security after SWIFT attacks
WASHINGTON (Reuters) – U.S. banking regulators said on Wednesday they are focused on cyber security risks and controls for U.S. financial institutions after attacks earlier this year involving the global financial network known as SWIFT.
Animal spirits: consumers’ devotion lifts pet-care stocks
NEW YORK (Reuters) – Americans’ attachment to their pets has fostered a $60 billion industry that is producing best-in-breed stock performance.
U.S. existing home sales decline, prices still strong
WASHINGTON (Reuters) – U.S. home resales fell more than expected in July after four straight months of strong gains, as a lack of inventory limited choice for buyers, but further price rises suggested the housing market remained on solid ground.
France denies it omitted elements in Renault emissions report
PARIS (Reuters) – France’s Environment Ministry on Wednesday denied it had omitted key elements concerning some Renault cars in a report on vehicle pollution it commissioned following the Volkswagen emissions scandal last year.
U.S. SEC charges 71 municipal bond issuers for misleading investors
(Reuters) – The U.S. Securities and Exchange Commission has charged 71 municipal bond issuers, including the states of Hawaii and Minnesota, as well as related entities, for using offering documents that misled investors, the agency said on Wednesday.
Iran, Ecuador discuss ways to strengthen oil prices
QUITO (Reuters) – Iran and Ecuador on Wednesday discussed ways that the two countries can strengthen oil prices as Iran signals it may support joint efforts by exporters to prop up flagging crude.
