SEC official rips proposed brokerage fee limits as ‘nanny-statism’
WASHINGTON (Reuters) – A top U.S. securities regulator on Tuesday blasted a proposed Labor Department rule that aims to make it harder for brokers who offer retirement advice from steering clients into higher-fee products, calling the plan “rampant nan…
Citi ordered to pay $770 million over credit card practices
(Reuters) – Citigroup Inc’s consumer bank has been ordered to pay $700 million in relief to borrowers for illegal credit card practices, the U.S. Consumer Financial Protection Bureau said.
Deeper back-to-school discounts to hurt teen clothing retailers
(Reuters) – U.S. teenage apparel retailers face another tough back-to-school season as they are forced to discount more to lure customers who are flocking to trendier shops and embracing online shopping.
United Tech cuts outlook on aerospace, elevator pressures
(Reuters) – United Technologies Corp , which agreed on Monday to sell its Sikorsky helicopter business, cut its full-year profit outlook on Tuesday as it warned of pressures in its aerospace systems and Otis elevators businesses.
Verizon cuts revenue outlook as price war continues
(Reuters) – Verizon Communications Inc on Tuesday lowered its full-year revenue target as it fends promotions from its competitors.
Exclusive: Global regulators may soften rules for asset-backed financing
LONDON (Reuters) – Global regulators may ease restrictions on asset-backed or pooled-debt in a policy shift that banks and European policymakers say is needed if financial markets are to play a bigger role in funding economic growth, two financial indu…
German car makers close to clinching Nokia maps deal for $2.74-3.29 billion: sources
FRANKFURT/BERLIN (Reuters) – Germany’s premium car makers are close to a deal to buy Nokia’s HERE map business for between 2.5 billion and 3 billion euros ($2.74 billion to $3.29 billion), but a final agreement hinges on the question of who owns the pa…
Apple says App Store, other services resume after three hours
(Reuters) – Apple Inc said App Store, Apple Music, iTunes Store and some other services are back online, after a more than three hour outage.
Buffett says reports that he bought Greek island ‘a total fabrication’
NEW YORK (Reuters) – Billionaire investor Warren Buffett said on Tuesday that media reports that he and Italian real estate agent Alessandro Proto together purchased the island of St. Thomas, southwest of Athens, are “a total fabrication.”
Goldman bets on European stocks, steers clear of U.S.
LONDON (Reuters) – With market jitters over Greece receding, Goldman Sachs is advising clients to load up on European stocks at the expense of U.S. assets.
