American Apparel investor Standard General sues Charney
(Reuters) – Hedge fund Standard General LP has sued American Apparel Inc’s ousted Chief Executive Dov Charney for the first time, the latest move in a bitter legal saga that began after he was fired in December.
GM to spend $1.4 billion to modernize Arlington SUV factory
ARLINGTON, Texas (Reuters) – General Motors Co is raising the stakes on its bet that sales of fuel-thirsty sport utility vehicles will keep driving its global profits as Chinese and other markets sag.
Short sellers curb Intel bets ahead of second quarter results; tone cautious
SAN FRANCISCO (Reuters) – Wall Street expects bad news when Intel Corp reports its second-quarter results on Wednesday although a few short sellers appear to believe the worst is over for the chipmaker’s recently sinking stock.
Hillary Clinton has no ‘beef’ with Uber, aide says
WASHINGTON (Reuters) – Democratic presidential contender Hillary Clinton does not have a problem with ride service company Uber, a top aide said on Tuesday, but the candidate does have questions about what it and its sharing-economy peers mean for work…
Honda’s U.S. auto finance arm to pay $24 million over loan pricing problems
WASHINGTON (Reuters) – A U.S. auto finance arm of Honda Motor Co will pay $24 million in restitution over allegations that its loan pricing practices caused minority customers to pay higher interest rates than white borrowers did, U.S. regulators said …
JPMorgan profit beats estimates as tax bill and expenses fall
(Reuters) – JPMorgan Chase & Co , kicking off the second-quarter earnings season for U.S. banks, reported a stronger-than-expected rise in profit on Tuesday, helped by a drop in legal and restructuring expenses and a smaller tax bill.
Wells Fargo profit drops for second straight quarter as costs rise
(Reuters) – Wells Fargo & Co, the largest U.S. mortgage lender, reported a drop in profit for the second straight quarter as employee costs and other expenses rose at a time when it is struggling with slow revenue growth.
Twitter confirms purported Bloomberg story is false
(Reuters) – A report claiming that Twitter Inc received an offer to be acquired for $31 billion attributed to Bloomberg LP is fake, Twitter and a spokesman for the news and financial data provider said on Tuesday.
Johnson & Johnson second-quarter sales wilt on strong dollar, weak device sales
(Reuters) – Johnson & Johnson on Tuesday reported sharply lower sales in the second quarter, and cited a stronger U.S. dollar, disappointing sales of its medical devices and plunging demand for a hepatitis C drug faced with strong competition.
U.S. consumer groups oppose Teva bid for generic drug rival Mylan
WASHINGTON (Reuters) – A proposed merger of the two largest U.S. generic drug makers drew fire on Tuesday from Consumers Union and seven other groups, who asked antitrust enforcers to stop Teva Pharmaceutical Industries Ltd’s proposal to purchase Mylan…
