Cyclical stocks eyed to extend the U.S. market’s rally
NEW YORK (Reuters) – Wall Street’s rally, fed primarily by defensive stocks embraced by worried investors, may be spreading to some of the growth companies that more typically lead a market forward.
U.S. SEC takes another step toward tighter swaps regulation
WASHINGTON (Reuters) – The top U.S. securities regulator on Wednesday took another step toward tightening its oversight of security-based swaps by proposing new reporting requirements for transactions, nearly six years after Congress directed it to bui…
Fed’s Kaplan urges ‘slow, gradual, careful’ approach on rates
HOUSTON (Reuters) – Global headwinds are undercutting the Federal Reserve’s efforts to boost the U.S. economy, making low interest rates not nearly as stimulative as they were when the rest of the world economy was growing faster, a top Fed official sa…
Teva says Allergan deal to close ‘any time’, expects U.S. antitrust clearance
NEW YORK/TEL AVIV (Reuters) – Teva Pharmaceutical Industries Ltd said on Wednesday it expected its $40 billion deal to buy Allergan Plc’s generics business to close “at any time,” even as the companies extended the deadline for completing the transac…
EU points to autumn decision in Apple tax probe: Irish finance minister
DUBLIN (Reuters) – The European Union’s antitrust chief has indicated that it will likely reach a decision in September or October on its two-year probe into Apple’s tax dealings with Ireland, Ireland’s finance minister said on Wednesday.
U.S. broker-dealers may soon have to post more information on routing orders
WASHINGTON (Reuters) – U.S. broker-dealers would have to, for the first time, post standardized information on how they route trading orders from large investors under a proposal that securities regulators unveiled on Wednesday.
VW may face shareholder calls to reclaim executive bonuses
HANOVER/BERLIN (Reuters) – Volkswagen managers may face calls to return their bonuses if the company is fined by German prosecutors over the profits it made from selling 11 million cars fitted with illicit engine software.
Sequoia Fund exits Valeant position after losses
(Reuters) – Ruane, Cunniff & Goldfarb Inc, the investment firm that runs the Sequoia Fund and once the largest shareholder of Valeant Pharmaceuticals International Inc , said it exited its position in the embattled Canadian drugmaker by mid-June.
Regulators seek to ease banking worries over money-laundering checks
LONDON (Reuters) – International regulators will write new banking rules for checking whether a potential customer poses money-laundering or terrorist financing risks.
Bank of England to cut rates on Thursday to ward off recession: Reuters poll
LONDON (Reuters) – Britain’s vote to leave the European Union means the Bank of England will take borrowing costs to a new low this week as it makes a pre-emptive strike to try to ward off a recession and to reassure markets, a Reuters poll found.
