GM SUV compensation program will cost about $100 million: source
WASHINGTON (Reuters) – General Motors Co said on Friday it will give debit cards or extended warranties to 146,000 North American owners of new sport utility vehicles to compensate them because the automaker overstated the vehicles’ fuel efficiency.
Little for U.S. stock investors to cheer on anniversary of S&P record high
NEW YORK (Reuters) – A year ago the U.S. stock market minted new all-time highs, but you could excuse investors for not celebrating the anniversary.
Exclusive: Citigroup declined to support Lending Club – memo
NEW YORK (IFR) – Citigroup told US regulators last week it was not willing to support troubled marketplace lender Lending Club after its CEO stepped down following a botched sale of loans.
Bayer’s Monsanto approach sparks shareholder uproar
LONDON/FRANKFURT (Reuters) – Bayer’s takeover approach for U.S. rival Monsanto triggered an investor backlash on Friday, with one of the German pesticides and drugs company’s major shareholders calling it “arrogant empire-building”.
Rules for ‘too big to fail’ insurance firms coming soon-Fed official
WASHINGTON (Reuters) – The Federal Reserve will soon take up rules for insurance companies deemed “too big to fail” intended to head off risks to U.S. financial stability, as well as requirements on how much capital firms across the industry should hol…
VW board tried to dilute Lower Saxony influence: Der Spiegel
FRANKFURT/HAMBURG (Reuters) – A power struggle erupted on Volkswagen’s supervisory board after the owning Porsche and Piech families joined representatives from Qatar in what proved to be a failed attempt to dilute the voting power of Lower Saxony, Ge…
NY Fed’s ‘nowcast’ estimate of second-quarter GDP rises to 1.7 percent
WASHINGTON (Reuters) – The U.S. economy is on track to expand at an annualized rate of 1.7 percent in the second quarter, half a percentage point higher than estimated a week earlier, the New York Federal Reserve said on Friday.
Exclusive: EU regulators to conditionally clear AB Inbev, SABMiller deal – sources
BRUSSELS/LONDON (Reuters) – Brewer Anheuser-Busch InBev is set to win conditional EU approval for its $100 billion-plus takeover of SABMiller after agreeing to substantial asset sales, three people familiar with the matter said on Friday.
U.S. existing home sales rise for second straight month, inventory still tight
WASHINGTON (Reuters) – U.S. home resales rose more than expected in April, suggesting the economy continues to gather pace during the second quarter.
Deutsche Bank investigates deal that may have profited staff
FRANKFURT (Reuters) – Deutsche Bank is investigating staff involvement in a transaction suspected of causing a conflict of interest and has suspended bonus payments of the staff while the probe is ongoing, the bank said on Friday.
