Wall Street sells off on growth concerns; volatility picks up
NEW YORK (Reuters) – The S&P 500 on Thursday posted its largest percentage decline in six months on concerns about the strength of the global economy and its effect on corporate earnings.
Former Fed Chair Bernanke takes stand in AIG bailout trial
WASHINGTON (Reuters) – Former Federal Reserve Chairman Ben Bernanke took the stand on Thursday to defend the U.S. government’s bailout of American International Group in 2008, describing how policymakers sought to avoid giving AIG shareholders a “windf…
Online retailer Amazon set to open a physical store: WSJ
(Reuters) – Amazon.com Inc , the online juggernaut whose rapid expansion helped derail many a brick-and-mortar retail chain, may soon open its first physical store, at a prime site in Midtown Manhattan, according to The Wall Street Journal.
Fed has not ruled out asset sales if needed, Williams says
LAS VEGAS (Reuters) – A top Federal Reserve official said on Thursday that while the Fed does not expect its large balance sheet to ignite inflation, if its forecasts are wrong the U.S. central bank has the tools to keep inflation from rising out of co…
Bill Gross, in his ‘second life,’ says Janus role is simpler
NEW YORK (Reuters) – Bill Gross, in his first public appearance since his shocking departure from Pimco, said there will be more flexibility in managing less money at Janus Capital Group Inc , but said he was disappointed over being forced to leave Pim…
Oshkosh cuts jobs as U.S. defense spending falls
(Reuters) – Specialty truckmaker Oshkosh Corp said it would cut its defense segment workforce by about 250 to 300 hourly positions, due to lower U.S. defense spending and reductions in military production.
Drop in jobless claims points to labor market strength
WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits fell last week to nearly its lowest level since before the 2007-09 recession, a sign of growing steam in the U.S. labor market.
Exclusive: Sightseeing firm Big Bus Tours hires JPMorgan for sale – sources
LONDON/ABU DHABI (Reuters) – One of the world’s largest operators of open-top sightseeing tours, Big Bus Tours, has hired JPMorgan to find a buyer in a deal that could value the travel firm at close to 500 million pounds ($810 million), sources familia…
Morgan Stanley uses client cash to chase private equity profits
(Reuters) – Morgan Stanley is embracing the financial reforms intended to curb its animal spirits to generate bigger profits.
Venezuela must pay Exxon $1.6 billion for nationalizations: ICSID
CARACAS (Reuters) – A World Bank arbitration tribunal has determined Venezuela must pay Exxon Mobil Corp around $1.6 billion to compensate for a 2007 nationalization, the award posted on the ICSID website on Thursday showed.
