Apple to boost China investments as demand slows
BEIJING (Reuters) – Apple Inc will boost its investment in China, one of its largest but increasingly challenging markets, and build its first Asia-Pacific research and development center in the country, Chief Executive Tim Cook said on Tuesday.
MetLife lays out strategy in ‘too big to fail’ court fight
WASHINGTON (Reuters) – MetLife Inc showed how it intends to fight federal regulators’ arguments that it is “too big to fail” in a court brief filed Monday and added a new issue to its contention they used a flawed process to determine the company could…
ValueAct stake in Morgan Stanley shows challenges in big bank activism
(Reuters) – ValueAct Capital Management’s newly acquired stake in Morgan Stanley underscores how tempting big bank stocks are for activist investors, but also how difficult it can be for them to move the needle in terms of performance.
Oil at five-week high as OPEC sources, Russia, talk of cooperation
NEW YORK (Reuters) – Oil settled up nearly 2 percent on Tuesday, hitting five-week highs for a second straight day as sources at OPEC spoke of Saudi Arabia’s desire for higher crude prices while Russia met the producer group to discuss the market.
U.S. inflation tame despite economy gaining momentum
WASHINGTON (Reuters) – U.S. consumer prices were unchanged in July but a rise in industrial output and home building suggested a pickup in economic activity that could allow the Federal Reserve to raise interest rates this year.
Hedge fund Tudor Investment lays off 15 percent of staff: source
BOSTON (Reuters) – Billionaire hedge fund manager Paul Tudor Jones on Tuesday laid off roughly five dozen employees, or about 15 percent of his workforce, a person familiar with the moves said on Tuesday, in the wake of poor returns and investor redemp…
U.S. senators quiz airlines on IT systems after Delta disruption
WASHINGTON (Reuters) – Two U.S. senators on Tuesday sent letters to 13 major airlines expressing concerns that their information technology systems are vulnerable to outages that can strand thousands of passengers similar to recent flight cancellations…
Two Fed rate hikes ‘conceivable’ in 2016, September in play: Lockhart
KNOXVILLE, Tenn. (Reuters) – The U.S. economy is likely strong enough for at least one interest rate increase before the end of 2016, with two hikes a possibility, Atlanta Federal Reserve Bank President Dennis Lockhart said on Tuesday.
Two Fed rate hikes ‘conceivable’ in 2016, September in play: Lockhart
KNOXVILLE, Tenn. (Reuters) – The U.S. Federal Reserve could still raise interest rates twice this year, with a move in September a possibility, Atlanta Fed President Dennis Lockhart said on Tuesday.
GE’s $250 million Doosan deal will boost revenue
NEW YORK (Reuters) – General Electric Co’s recent purchase of part of Doosan Engineering & Construction Co Ltd of Korea will sharply boost the U.S. manufacturer’s revenues from energy assets acquired last year from France’s Alstom SA , a senior GE executive said on Tuesday.
