Several U.S. states unprepared for a recession: S&P
NEW YORK (Reuters) – Several U.S. states studied by S&P Global Ratings are ill-equipped to deal with an economic recession, hampered by the slow rebound in U.S. economic growth after the damage wrought by the Great Recession.
Valeant looks to sell billions in assets to cut debt, stock soars
(Reuters) – Valeant Pharmaceuticals International Inc will sell billions of dollars of non-core assets and could accept offers for its main businesses, its chief executive said on Tuesday, as the drugmaker worked to restore investor trust after a yea…
Nasdaq hits record high, other indexes hover near highs
(Reuters) – The Nasdaq composite rose to a record high close on Tuesday while other major indexes hovered near their own recent all-time highs in a session with thin trading volume.
U.S. productivity falls for third consecutive quarter
WASHINGTON (Reuters) – U.S. worker productivity fell for the third straight quarter in the spring this year, suggesting that corporate profits may continue to decline and wage growth may remain sluggish.
Verizon eyes automotive technology market, could spur other deals
NEW YORK (Reuters) – Verizon Communications Inc’s recent purchases of two vehicle tracking firms could spark more deals as the No. 1 wireless provider and rival AT&T see fleet management as a source of growth, analysts said.
Lululemon director whose existence was questioned quits
VANCOUVER (Reuters) – One of Lululemon Athletica’s longest-serving board members, recently the source of online speculation over her identity and background, has stepped down, according to a company filing posted on Tuesday.
Hitachi Automotive to pay $55.48 million fine for role in U.S. price-fixing
WASHINGTON (Reuters) – Hitachi Automotive Systems Ltd agreed to plead guilty to fixing the price of shock absorbers installed in U.S. autos, and to pay a criminal fine of $55.48 million, the Justice Department said in a statement on Tuesday.
After resuming QE, Bank of England fails for first time to meet bond-purchase target
LONDON (Reuters) – The Bank of England fell 52 million pounds ($68 million) short of its target to buy more than a billion pounds of long-dated government debt on Tuesday, an early slip-up for one of its latest measures to stimulate Britain’s economy.
Valeant CEO receives unsolicited buyer interest for core assets
(Reuters) – Valeant Pharmaceuticals International Inc has received unsolicited interest for its core assets, although the company is not actively shopping them, Chief Executive Officer Joe Papa said on Tuesday.
U.S. wholesale inventories rise more than expected in June
WASHINGTON (Reuters) – U.S. wholesale inventories unexpectedly rose in June on gains in stocks of farm products and other nondurable goods, suggesting an upward revision to the second-quarter economic growth estimate.
