General Motors escapes some claims from 2014 recalls
NEW YORK (Reuters) – A U.S. judge on Friday dismissed some claims brought against General Motors by customers seeking compensation for a drop in vehicle resale values after a rash of safety recalls in 2014, including one for a faulty ignition switch.
Wall Street ends flat but futures slip after Turkey coup reports
NEW YORK (Reuters) – The Dow industrials ended at a record high on Friday and major indexes closed a third consecutive week of gains as upbeat economic data and the start of earnings season gave investors confidence.
Herbalife settles pyramid scheme case with regulator, in blow to Pershing’s Ackman
WASHINGTON/NEW YORK (Reuters) – Herbalife Ltd agreed to pay $200 million and change the way it does business to avoid being labeled a pyramid scheme by regulators, a blow to hedge fund manager Bill Ackman who for years has been betting against the diet…
Criminal probe casts 2009 Ackman-Target boardroom brawl in new light
BOSTON (Reuters) – A widening criminal probe casts new light on a bitter defeat hedge fund activist Bill Ackman suffered in his 2009 bid for board seats at U.S. retailer Target Corp.
Paramount stake sale could hamper deal for Viacom: National Amusements
(Reuters) – Sumner Redstone’s privately held movie theater company said on Friday it opposes the sale of a minority stake in Viacom Inc’s Paramount Pictures, because such a transaction could hurt the chances of a deal involving all of Viacom.
U.S. Fed awards $41.16 billion in reverse repos
NEW YORK (Reuters) – The U.S. Federal Reserve on Friday awarded $41.16 billion of three-day, fixed-rate reverse repurchase agreements to 29 bidders at an interest rate of 0.25 percent, the New York Fed said on its website.
Citi beats expectations, bets on consumers amid low rates
(Reuters) – Citigroup is betting on U.S. consumers and multi-national corporate clients to navigate lower interest rates after a rebound in trading helped it beat Wall Street’s subdued expectations for the second quarter.
FCC says 62 bidders advance in spectrum auction
WASHINGTON (Reuters) – The U.S. Federal Communications Commission said on Friday that 62 bidders have made upfront payments in a forthcoming wireless spectrum auction including AT&T Inc, Verizon Communications Inc, Dish Network, T-Mobile US and Comcast Corp.
Wells Fargo management prodded on expenses after profit decline
(Reuters) – Top Wells Fargo & Co executives were grilled by analysts on Friday about whether they’re doing enough to control expenses after the bank reported a drop in second-quarter profit.
U.S. retail sales, industrial output data suggest strong Q2 GDP growth
WASHINGTON (Reuters) – U.S. retail sales rose more than expected in June as Americans bought motor vehicles and a variety of other goods, bolstering views that economic growth picked up in the second quarter.
