Bank of NY Mellon sued by U.S. regulator over $2 billion in soured mortgages
NEW YORK (Reuters) – A U.S. regulator sued Bank of New York Mellon Corp on Wednesday over $2.06 billion in residential mortgage-backed securities purchased by a failed Texas bank, and accused it of breaching its duties as bond trustee to protect invest…
Strong jobs, weak inflation data muddy Fed rate debate: minutes
WASHINGTON (Reuters) – U.S. Federal Reserve officials widely agreed last month the economy was nearing the point where interest rates should move higher, but worried lagging inflation and a weak global economy posed too big a risk to commit to “liftoff…
Wall St. falls in volatile trading after Fed minutes
(Reuters) – U.S. stocks fell in choppy trading on Wednesday as minutes from the latest Federal Reserve meeting highlighted concern over the state of the global economy, driving markets to question the likelihood that the Fed will raise rates next month…
U.S. consumer prices up slightly, airfare weighs
WASHINGTON (Reuters) – U.S. consumer prices rose only slightly in July as airline fares recorded their biggest drop since 1995, but tame inflation pressures will probably not discourage the Federal Reserve from raising interest rates this year.
Germany backs Greek bailout as Tsipras mulls early polls
BERLIN/ATHENS (Reuters) – The German parliament approved a third bailout for Greece on Wednesday after Finance Minister Wolfgang Schaeuble said the country should get “a new start”, while in Athens the government agonized over whether to call a snap el…
Lowe’s sales beat on demand for appliances, outdoor equipment
(Reuters) – Lowe’s Cos Inc , the No.2 U.S. home improvement chain, reported stronger-than-expected growth in quarterly same-store sales as customers bought more expensive items in categories such as appliances and outdoor power equipment.
Target’s quarterly sales outlook disappoints; shares dip
CHICAGO (Reuters) – Target Corp forecast disappointing sales for this quarter and said it expected consumer demand to remain choppy, causing its shares to give up early gains.
FINRA probes Merrill over anti-money laundering compliance: source
WASHINGTON (Reuters) – Wall Street’s self-regulatory body has been probing Bank of America Merrill Lynch over its failure to detect the activities of a former financial adviser, who pleaded guilty to helping a client cover up an insider-trading scheme …
JPMorgan, Goldman Sachs, Morgan Stanley to form data company: WSJ
(Reuters) – JPMorgan Chase & Co , Goldman Sachs Group Inc and Morgan Stanley are working to create a company that will pull together and clean reams of data used to determine pricing and transaction costs, the Wall Street Journal reported.
GM extends Oshawa assembly line operations until 2017
TORONTO (Reuters) – General Motors Co will keep an Oshawa, Ontario assembly line operating until 2017, the company’s Canadian unit said on Wednesday, extending the life of a line that has been repeatedly scheduled for closure over the last decade.
