Goldman wins dismissal of lawsuit over CDOs faulted by Senate
NEW YORK (Reuters) – Goldman Sachs Group Inc on Tuesday won the dismissal of a class-action lawsuit accusing it of defrauding investors in subprime mortgage offerings that some U.S. senators faulted after investigating causes of the 2008 financial cris…
Wall St. jumps 2 percent as China gains fuel global gains
(Reuters) – U.S. stocks rose more than 2 percent on Tuesday, bouncing after steep losses last week and a China-fueled rebound in global equities.
Macy’s to close 35-40 underperforming stores in early 2016
(Reuters) – Macy’s Inc said it would shut 35-40 underperforming stores, accounting for about 1 percent of the department store operator’s sales, as more and more customers shop online.
Costco sold counterfeit Tiffany engagement rings: U.S. judge
NEW YORK (Reuters) – Costco Wholesale Corp willfully infringed Tiffany & Co’s trademarks by selling counterfeit diamond engagement rings bearing the luxury retailer’s name and must face a jury trial to assess damages, a U.S. judge ruled on Tuesday.
Brent settles up 4 percent, riding equities rally; U.S. crude down
NEW YORK (Reuters) – Brent crude settled up 4 percent on Tuesday as strength in stock markets helped the global oil benchmark recoup the bulk of its losses from the previous session.
Fed should wait with raising rates: World Bank economist
WASHINGTON (Reuters) – The U.S. Federal Reserve should hold off on raising interest rates until the global economy is more stable, the World Bank’s chief economist said in an interview with the Financial Times published on Tuesday.
Lean manufacturing transforms Wisconsin maker of U.S. Navy warships
(This version of the September 6th story, in 17th paragraph, corrects to read 118-meter warships, not 118-foot)
Alibaba lowers second-quarter gross merchandise volume estimates
(Reuters) – Alibaba Group Holding Ltd said on Tuesday it expected second-quarter gross merchandise volume (GMV) to be lower than its initial estimates due to weaker consumer spending in China.
GE clears final hurdle to $14 billion Alstom deal
BRUSSELS (Reuters) – General Electric has won EU approval for its 12.4-billion-euro ($13.9 billion) acquisition of Alstom’s power business after agreeing to sell some of the French company’s turbine assets to Italian rival Ansaldo Energia.
Bankrate to pay $15 million to settle SEC fraud charges
NEW YORK (Reuters) – Bankrate Inc agreed to pay $15 million to settle U.S. Securities and Exchange Commission charges that it engaged in accounting fraud to ensure that its financial results met analyst expectations.
