Wall Street edges lower as energy weighs
(Reuters) – U.S. stocks edged lower on Wednesday following comments from Federal Reserve Chair Janet Yellen, as a decline in energy shares outweighed gains in the financial sector in the latter stages of trading.
Yellen stands by Fed’s transparency as lawmakers turn up heat
WASHINGTON (Reuters) – Federal Reserve Chair Janet Yellen on Wednesday resisted calls for more congressional oversight, as members of a House of Representatives panel criticized the central bank’s policies and pressed it to be more accountable.
General Mills hopes natural ingredients will boost U.S. cereal sales
NEW YORK (Reuters) – By removing artificial colors and flavors and selling gluten-free cereals, General Mills Inc Chief Executive Officer Ken Powell is betting his company can buck a broader decline in U.S. cereal sales.
Delta Air beats second-quarter profit estimates, expects unit revenue drop
(Reuters) – Delta Air Lines Inc on Wednesday reported that second-quarter profit jumped 85 percent, topping expectations, but forecast a third-quarter drop in unit revenue as the carrier continued to see weaker demand abroad due to the strong U.S. doll…
U.S. producer inflation firming; industrial output rises
WASHINGTON (Reuters) – U.S. producer prices increased more than expected in June as the cost of gasoline and a range of other goods rose, indicating the recent oil-driven downward spiral in prices was abating.
Reluctant Tsipras fights to pass reforms in Greek parliament
ATHENS (Reuters) – Prime Minister Alexis Tsipras fought to contain a backlash from his own leftwing party on Wednesday as parliament prepared to vote on a sweeping austerity package European partners have demanded for a new bailout to keep Greece in th…
Ex-Libor trader says made mistakes in interviews with investigators
LONDON (Reuters) – Tom Hayes, a former trader on trial on Libor manipulation charges, told a London court on Wednesday he had made mistakes and “educated guesses” during interviews with investigators while he was cooperating with Britain’s Serious Frau…
Traders pounce as doubts grow about Halliburton-Baker Hughes deal
(Reuters) – Growing doubts that regulators may not approve Halliburton Co’s $35-billion takeover of fellow oilfield services company Baker Hughes Inc this year has thrown up a high-reward opportunity for investors with an appetite for risk.
Yum sticks to growth forecast despite slow China recovery
(Reuters) – KFC and Pizza Hut owner Yum Brands Inc stuck to its profit growth target for the year despite a slower-than-expected recovery in its Chinese business, which was hit by allegations of a supplier using expired meat last year.
Analysis: IMF threat to pull out of Greek bailout challenges Germany
BRUSSELS (Reuters) – The International Monetary Fund’s threat to pull out of bailouts for Greece unless European partners grant Athens massive debt relief poses a stark challenge to Germany, the biggest creditor, which insists on IMF involvement in any…
