Wall Street rebounds with financials; biotechs drop
(Reuters) – U.S. stocks ended higher on Monday, rebounding from losses late last week with help from Apple and financial shares, but a drop in biotech shares limited the advance.
Ex-Morgan Stanley adviser pleads guilty in connection with data breach
NEW YORK (Reuters) – A former Morgan Stanley financial adviser who was fired in connection with a major breach of client information pleaded guilty on Monday to taking confidential data for hundreds of thousands of customer accounts from a bank compute…
Time Warner Cable shareholders approve deal with Charter
(Reuters) – Time Warner Cable Inc’s shareholders approved the company’s $56 billion takeover by Charter Communications Inc, according to preliminary votes at a special shareholder meeting.
Apple targets shipping date for electric car for 2019: WSJ
(Reuters) – Apple Inc has designated building an electric car as a “committed project” and has set a target shipping date for 2019, the Wall Street Journal reported on Monday.
U.S. crude up 4 percent on lower stockpile bets; Brent spread narrows
NEW YORK (Reuters) – Oil prices rallied on Monday, with U.S crude surging more than 4 percent on signs of declining stockpiles, less drilling that could reduce future output and a jump in gasoline futures that boosted the overall petroleum complex.
Rates, weak forex cut into trading revenue at U.S. banks: OCC
(Reuters) – Insured U.S. commercial banks earned 28.1 percent less in trading revenue in the second quarter compared with first quarter, squeezed by low interest rates and weak currency trading, the Office of the Comptroller of the Currency said.
To gauge inflation outlook, don’t look to markets, Fed paper says
SAN FRANCISCO (Reuters) – Market-based measures of the outlook for inflation are poor predictors for actual inflation, research published Monday by the San Francisco Federal Reserve Bank shows.
October might be ‘tight’ to set aside global concerns: Fed’s Lockhart
ATLANTA (Reuters) – Atlanta Federal Reserve President Dennis Lockhart said on Monday the six weeks until the Fed’s next meeting in October may not be enough time to quell concerns about the global economy and possible risks to the U.S. recovery.
Fed’s Lockhart says risks of delaying rate hike not significant
ATLANTA (Reuters) – Atlanta Federal Reserve President Dennis Lockhart said on Monday the risks of the Fed waiting to raise interest rates were not significant, another reason he felt it wise to delay a hike until it was clear that global economic uncer…
GE’s Immelt rules out India nuclear investment under current law
NEW DELHI (Reuters) – General Electric Co will not invest in atomic energy in India until accident liability laws are brought in line with global rules, Chairman Jeff Immelt said on Monday, in a setback for top-level efforts to get U.S. firms to build …
