UK speed trader arrested over role in 2010 ‘flash crash’
WASHINGTON (Reuters) – A high-frequency trader was arrested in London over his alleged role in the May 2010 “flash crash” that briefly wiped out nearly $1 trillion in market value, the first time authorities have blamed manipulation for the turbulence….
Earnings cloud drags down Dow; Nasdaq gains on biotech M&A
(Reuters) – U.S. stocks were a mixed bag on Tuesday, with the Dow ending lower after a handful of uninspiring earnings reports while the Nasdaq closed near a record high following a proposed biotech merger.
Yahoo’s profit, revenue miss Street forecasts as costs rise
(Reuters) – Yahoo Inc missed Wall Street’s revenue and profit forecasts as slight growth in its online advertising businesses was outweighed by higher payments to partners and websites which send readers to Yahoo.
Generic drugmaker Teva makes $40 billion offer for rival Mylan
TEL AVIV/NEW YORK (Reuters) – Teva Pharmaceutical Industries Ltd on Tuesday made an unsolicited $40 billion offer for smaller rival Mylan NV, a bold bid for growth as its lucrative Copaxone drug faces generic competition.
Yum CEO says China business mending, sees strong year-end finish
(Reuters) – Yum Brands Inc, owner of KFC and Pizza Hut chains, on Tuesday said business in its biggest market China is recovering from a meat scare at one of its minor suppliers and the division would finish the year strong.
At Harley and beyond, strong dollar offers competition discount edge
CHICAGO (Reuters) – When iconic motorcycle maker Harley-Davidson Inc warned on Tuesday that discounting from foreign rivals would dent its profits, the message resonated beyond the motorcycle business.
Wary of brinkmanship, euro zone steers away from new deadlines for Greece, official says
BRUSSELS (Reuters) – Euro zone finance ministers will not set any deadline for Greece to come up with reforms to get more funding because such time limits lead to brinkmanship in negotiations, a senior euro zone official said on Tuesday.
Ferrero facing no succession problem, not interested in selling
MILAN (Reuters) – Italian confectionery group Ferrero is facing no succession problem after the death of its owner, Michele Ferrero, and the family owners of the Nutella empire are not interested in selling, Chairman Francesco Paolo Fulci said on Tuesd…
U.S., UK aim for Deutsche Bank Libor settlement on Thursday: sources
FRANKFURT (Reuters) – U.S. and British officials are preparing to announce a settlement with Deutsche Bank AG as soon as Thursday over allegations it tried to rig benchmark interest rates such as Libor, two sources with knowledge of the matter said.
Banks’ first-quarter trading revenue prompts cautious optimism
LONDON (Reuters) – Trading revenue from the world’s biggest banks showed signs of recovery in the first quarter as financial market volatility boosted dealing room profits after years of attrition.
