NY pension fund enters $2 billion investment venture with Goldman Sachs
NEW YORK (Reuters) – A New York state pension fund has given Goldman Sachs Group Inc $2 billion to invest with outside managers, Goldman and the fund said in a statement on Wednesday, a first for a fund that has traditionally picked managers itself.
Volkswagen global labor reps back UAW at Tennessee plant
FRANKFURT (Reuters) – Volkswagen AG’s global works council is backing renewed efforts by the United Auto Workers in the United States to represent workers at the German carmaker’s Tennessee plant.
Trump Entertainment begins race to save Atlantic City casino
WILMINGTON Del (Reuters) – Trump Entertainment Resorts received U.S. Bankruptcy Court approval on Wednesday for an agreement that gives it 30 days to craft a cost-cutting turnaround plan to save its Taj Mahal casino-hotel from liquidation.
RadioShack plunges after brokerage cuts price target to $0
(Reuters) – Troubled electronics retailer RadioShack Corp’s shares have lost nearly a third of their value since brokerage Wedbush Securities said on Tuesday the company could file for bankruptcy soon, making the stock worthless by the end of this year…
U.S. wholesale stocks barely rise; third-quarter growth estimates cut
WASHINGTON (Reuters) – U.S. wholesale inventories barely rose in July, suggesting a slower pace of stock accumulation at the start of the third quarter that prompted economists to trim growth estimates.
Dollar General goes hostile with Family Dollar bid
(Reuters) – Dollar General Corp took its $9.1 billion offer for Family Dollar Stores Inc hostile, directly approaching the shareholders of its smaller rival after being spurned twice by the company.
Venezuela in dilemma over hiking world’s cheapest fuel
CARACAS (Reuters) – President Nicolas Maduro is mulling a politically risky move to raise highly subsidized gasoline prices in Venezuela for the first time in 17 years, but may be put off for now by fears of a social backlash.
MasterCard’s cross-border card fees in the dock on Thursday
BRUSSELS (Reuters) – Europe’s top court will rule on Thursday whether MasterCard’s cross-border card fees, a lucrative revenue source for the financial industry and the subject of a decade-long battle with EU regulators, are anti-competitive.
U.S. NHTSA to probe engine stalls on 2007 Chrysler minivans
DETROIT (Reuters) – U.S. safety regulators are investigating about 160,000 Dodge Caravan minivans following reports of engine stalling.
Detroit bankruptcy trial delayed until Monday by U.S. judge
DETROIT (Reuters) – A federal judge on Wednesday put the landmark trial on Detroit’s plan to exit bankruptcy on hold until Monday as the city neared reaching a deal with one of its most formidable hold-out creditors.
