Wal-Mart heirs again top Forbes list of 25 richest U.S. families
(Reuters) – The Walton family, which owns roughly a 50 percent stake in retailer Wal-Mart Stores Inc , was named the richest family in the United States for a third consecutive year on Wednesday, according to Forbes.
With Amazon in mind, Wal-Mart to offer free shipping for 30 days
(Reuters) – Wal-Mart Stores Inc on Wednesday launched a free 30-day trial of ShippingPass, its two-day shipping program for shoppers in the United States, as the world’s largest retailer looks to take on Amazon.com Inc’s Prime subscription service.
GE’s finance unit sheds its ‘too big to fail’ designation
(Reuters) – General Electric Co.’s slimmed down financing arm shed its “too big to fail” designation on Wednesday, no longer deemed by the U.S. government “systemically important” and so liable to wreck the economy in the event it runs into distress.
EU commissioner urges Volkswagen to compensate drivers for diesel scandal
BRUSSELS/BERLIN (Reuters) – Europe’s Industry Commissioner Elzbieta Bienkowska has called on Volkswagen to also compensate European drivers after the company agreed to pay out up to $15.3 billion in the United States to settle claims over the diesel e…
U.S. consumer spending rises, Brexit casts shadow on outlook
WASHINGTON (Reuters) – U.S. consumer spending rose for a second straight month in May on increased demand for automobiles and other goods, but there are fears Britain’s vote to leave the European Union could hurt confidence and prompt households to cut…
Investors use Viacom battle to campaign against special voting stock
NEW YORK (Reuters) – Investor groups are using the high-profile battle for control of Viacom Inc to rally support for their campaigns against dual-class share structures which give founders and insiders outsized voting rights.
IKEA recalls 36 million chests and dressers after six deaths
WASHINGTON (Reuters) – Swedish furniture company IKEA Group [IKEA.UL] is recalling almost 36 million chests and dressers in the United States and Canada but said the products linked to the deaths of six children are safe when anchored to walls as instr…
Canada’s CIBC to pay $3.8 billion for PrivateBancorp, expand in U.S.
TORONTO (Reuters) – Canadian Imperial Bank of Commerce said it will buy Chicago-based PrivateBancorp Inc in a $3.8 billion cash-and-share deal, its biggest ever acquisition and a long-awaited expansion in U.S wealth management.
Daimler’s pension fund gets 1.8-billion-euro Renault Nissan stake
FRANKFURT (Reuters) – Carmaker Daimler on Wednesday topped up its German pension scheme by transferring a stake in Renault SA and Nissan Motor Co worth about 1.8 billion euros ($2 billion) to the fund.
Under Armour leads Olympic marketing shake-up after ‘rule 40’ changes
(Reuters) – Against a backdrop of the iconic five rings, legendary swimmer Michael Phelps sat on a United States Olympic Committee stage at a March media event in Los Angeles, telling reporters why he had arrived fashionably late.
