California insurance commissioner urges U.S. to block Anthem-Cigna deal
(Reuters) – California’s insurance commissioner on Thursday urged the U.S. Department of Justice to block health insurer Anthem Inc’s acquisition of Cigna Corp , saying he is concerned it will raise premiums in the state.
HSBC to pay $1.575 billion, ending Household International class action
(Reuters) – A unit of HSBC Holdings Plc said on Thursday it will pay $1.575 billion to end a 14-year-old shareholder class action lawsuit stemming from the Household International consumer finance business that the British bank bought in 2003.
U.S. SEC charges former SAP America executive with insider trading
(Reuters) – The U.S. Securities and Exchange Commission on Thursday accused a former SAP SE executive and three others of insider trading based on a tip he supplied about an impending merger.
Dow Chemical first foreign company to get Saudi Arabia trading license
(Reuters) – Dow Chemical Co said it became the first foreign company to receive a trading license from Saudi Arabia as the kingdom plans to diversify its economy and free its dependence on oil exports amid a slump in global oil prices.
Pimco plans to cut about 3 percent of global workforce: memo
NEW YORK (Reuters) – Pacific Investment Management Co plans to cut about 3 percent of its workforce in the wake of a drop in assets under management since the 2014 departure of co-founder Bill Gross, according to an internal document obtained by Reuter…
Siemens to pay $1 billion to Gamesa in wind units’ merger: Bloomberg
(Reuters) – Siemens AG will pay about $1 billion to Spain’s Gamesa in a deal to merge of the companies’ wind energy businesses, Bloomberg reported, citing sources.
Guess who’s shopping at dollar stores? Well-to-do millennials
(Reuters) – Victoria Marin, a 35-year old author and educator, used to spend hundreds of dollars at large party-goods retailers on supplies that ended up in the trash can.
Rising rents, healthcare costs support U.S. underlying inflation
WASHINGTON (Reuters) – U.S. consumer prices moderated in May, but sustained increases in housing and healthcare costs kept underlying inflation supported, which could still allow a cautious Federal Reserve to raise interest rates this year.
Zuckerberg’s philanthropy project makes first major investment
(Reuters) – Facebook Inc founder Mark Zuckerberg’s philanthropy venture has made its first major investment, leading a funding round in a startup that trains and recruits software developers in Africa.
Oil slides 3 percent, hits one-month low as dollar jumps
NEW YORK (Reuters) – Oil prices slumped about 3 percent to hit one-month lows on Thursday, down a sixth straight day, as the dollar’s rally on fears of Britain’s exit from the European Union hammered commodities priced in the currency.
