Companies forced to rethink U.S. high court class action strategy
WASHINGTON (Reuters) – Lawyers for companies trying to fend off costly class action lawsuits are rethinking longstanding legal strategies after businesses lost two key U.S. Supreme Court cases as well as their staunchest supporter on the bench.
Petrobras raises $6.75 billion in return to global bond markets
SAO PAULO (Reuters) – State-controlled Petróleo Brasileiro SA raised $6.75 billion on Tuesday from a sale of five- and 10-year dollar-denominated bonds, in a closely watched return to global debt markets after the suspension of Brazilian President Dilma Rousseff.
Anti-trade rhetoric not denting U.S. trade chief’s hopes for TPP vote
LIMA (Reuters) – The top U.S. trade official is not losing hope for congressional approval of a sweeping pan-Pacific free trade agreement this year despite strong anti-trade rhetoric in the U.S. presidential campaign that may be influencing reluctant l…
U.S. banks scrutinize SWIFT security after hacks -reports
(Reuters) – Major U.S. banks are scrutinizing security of the SWIFT messaging network following cyber attacks in Bangladesh and Vietnam involving fraudulent transfer requests, according to media reports on Tuesday.
Wall Street sells off amid Fed rate hike jitters
(Reuters) – Wall Street sold off on Tuesday as investors boosted their bets on the Federal Reserve raising rates later this year, while Home Depot dragged on indexes following its quarterly report.
U.S. crude prices hits seven-month high as inventory drop seen
NEW YORK (Reuters) – Oil prices rose for a second straight day on Tuesday, with U.S. futures hitting seven-month highs, on expectations of a drawdown in U.S. crude stockpiles and a new wildfire threat on Canadian oil supplies.
S&P cuts Icahn Enterprises rating to junk, outlook stable
NEW YORK (Reuters) – U.S. ratings agency Standard & Poor’s on Tuesday cut the credit rating of billionaire investor Carl Icahn’s Icahn Enterprises to junk status after the portfolio absorbed declining investment values and higher leverage in the last few months.
Shell shareholders advised to oppose CEO’s pay
LONDON (Reuters) – Two investor advisory firms have recommended Royal Dutch Shell shareholders oppose the CEO’s 2015 remuneration, in the latest sign of rising discontent over pay amid falling oil prices.
Home Depot raises forecasts after strong start to the year
(Reuters) – Home Depot Inc boosted its sales and profit forecasts for the year on Tuesday after a stronger-than-expected first quarter, driven by a healthy housing market and favorable weather that encouraged Americans to spruce up their homes.
Novartis splits drugs business into two, pharma chief to leave
ZURICH/LONDON (Reuters) – Novartis is splitting its pharmaceuticals division into two business units, one focused on cancer and the second on other drugs, while switching out its current pharma head in the second high-profile management reshuffle this …
