Banks and tech drive Wall Street up over 1 percent
(Reuters) – Wall Street surged more than 1 percent on Tuesday and the Nasdaq had its strongest day in three months as investors made peace with the possibility that the U.S. Federal Reserve might soon raise interest rates.
SEC raises concerns about Valeant’s use of ‘Non-GAAP’ measures
(Reuters) – The Securities and Exchange Commission is concerned about the way Canadian drugmaker Valeant Pharmaceuticals International Inc has been disclosing its “non-GAAP” financial measures, regulatory filings showed on Tuesday.
Monsanto rejects Bayer bid, but open to more talks
(Reuters) – Monsanto Co , the world’s largest seed company, turned down Bayer AG’s $62 billion acquisition bid as “incomplete and financially inadequate” on Tuesday, but said it was open to engage further in negotiations.
Stung by loss of secrecy at home, Swiss banks run into trouble in Asia
ZURICH/SINGAPORE (Reuters) – Regulators’ closure of the Swiss BSI bank’s Asian outpost for failing in its duty to prevent money-laundering has highlighted the risks of hunting wealthy clients farther afield as Swiss banks’ traditional line in hiding mo…
EU regulators clear $100 billion-plus AB InBev, SABMiller deal
The world’s largest brewer Anheuser-Busch InBev gained EU antitrust approval on Tuesday for its $100 billion-plus acquisition of SABMiller on condition it sell almost the whole of SABMiller’s beer business in Europe.
Nasdaq rejects listing application by cannabis social network
NEW YORK (Reuters) – Stock exchange operator Nasdaq has rejected a listing application by MassRoots Inc on the grounds that it may aid in the use and dealing of an illegal substance, the cannabis social networking company said on Tuesday.
Bulgari aims to have up to six stores in Russia over 10 years
MOSCOW (Reuters) – Bulgari, the flagship jewelry brand of luxury group LVMH , plans to open up to four more stores in Russia over the next ten years, betting on the long-term prospects of its luxury market.
Red Bull deal gives GoPro wings
SAN FRANCISCO (Reuters) – Shares of GoPro Inc got a lift on Tuesday after the struggling action camera maker said it was partnering with extreme sports sponsor Red Bull in a marketing and promotion deal.
Apple rehires prominent security pro as encryption fight boils
SAN FRANCISCO (Reuters) – Apple Inc , which has resisted pressure from U.S. law enforcement to unlock encrypted iPhones, this month rehired a top expert in practical cryptography to bring more powerful security features to a wide range of consumer prod…
U.S. new homes sales hit eight-year high, point to firming economy
WASHINGTON (Reuters) – New U.S. single-family home sales recorded their biggest gain in 24 years in April, touching a more than eight-year high as purchases increased broadly, a sign of growing confidence in the economy’s prospects.
