Fed still seen in lift-off mode as Yellen takes center stage
NEW YORK (Reuters) – The U.S. Federal Reserve is likely to stick with plans to raise interest rates later this year, with progress toward its employment and inflation goals helping allay concerns over the economy’s recent weakness, current and former F…
Detroit prosecutors join criminal probe of Takata over air bags
DETROIT (Reuters) – Prosecutors in Detroit have joined the U.S. federal probe into Takata Corp’s defective air bag inflators that are linked to at least six deaths globally.
Carl Icahn says underweight Apple bets will hurt funds’ performance
NEW YORK (Reuters) – Billionaire activist investor Carl Icahn said Thursday that mutual funds will increasingly realize that being underweight shares of Apple will hurt their performance as the technology giant continues to innovate.
S&P ends at all-time highs but traders eye weak volume
(Reuters) – The S&P 500 closed at a record high on Thursday after disappointing economic data bolstered expectations that an interest rate hike is likely to come only later in the year.
Orange chief denies wrongdoing after being put under investigation
PARIS (Reuters) – Orange Chief Executive Stephane Richard denied any wrongdoing on Thursday after he was placed under formal investigation over allegations of complicity in the misuse of public funds in a long-running legal case.
Best Buy profit beats on strong demand for TVs, smartphones
(Reuters) – Best Buy Co Inc , the largest U.S. consumer electronics chain, reported better-than-expected quarterly profit and sales, helped by strong demand for smartphones and large-screen TVs, sending its shares up over 8 percent.
U.S. economy tepid in early second quarter, but jobs market resilient
WASHINGTON (Reuters) – The U.S. economy was on a modest growth path early in the second quarter with home resales falling in April and manufacturing activity on the backfoot in May, although the labor market continued to tighten.
Lumber Liquidators’ troubles deepen as CEO abandons ship
(Reuters) – Lumber Liquidators Holdings Inc said Chief Executive Robert Lynch had unexpectedly resigned, nearly three months after a report alleged that the company sourced flooring laminates with harmful levels of a known carcinogen.
CVS to expand pharmacy business with $10.1 billion Omnicare buy
(Reuters) – Drugstore operator CVS Health Corp said Thursday it will spend $10.1 billion to buy Omnicare Inc , a company that supplies prescription medicines to nursing, assisted living and other healthcare facilities.
Ford sales growth mainly from Asia in next decade: exec
DEARBORN, Mich (Reuters) – Ford Motor Co sees most of its corporate sales growth over the next decade coming from the Asia Pacific region despite the recent slowdown in China auto demand, a top executive said Thursday.
