Exclusive: Canada seen buying fighter jets from U.S., not Europe – source
OTTAWA/WASHINGTON (Reuters) – Canada is likely to choose between two major U.S. firms when it buys a new fleet of jet fighters, excluding two European competitors, according to a source with direct knowledge of the matter.
Fed’s Powell says alternative to Libor needed as soon as practical
WASHINGTON (Reuters) – The U.S. Federal Reserve will accelerate its search for a substitute to the Libor benchmark interest rate to stave off what would be “a horrible mess” if the current system collapses with no alternative, Fed Governor Jerome Powel…
BP ‘grossly negligent’ in 2010 U.S. spill, fines could be $18 billion
HOUSTON/NEW YORK (Reuters) – A U.S. judge has decided that BP Plc was “grossly negligent” and “reckless” in the Gulf of Mexico oil spill four years ago, a ruling that could add nearly $18 billion in fines to more than $42 billion in charges the company took for the worst offshore environmental disaster in U.S. history.
Silicon Valley builds up in Microsoft’s backyard
SEATTLE (Reuters) – In the last week of August, Twitter entertained dozens of potential young recruits at a chic studio, while Facebook served drinks and snacks to job-seekers at its own office. More than 175 showed up to a similar event at Google in J…
Exclusive: Fund payments to brokerages draw SEC scrutiny
NEW YORK (Reuters) – The tens of millions of dollars in annual fees that mutual fund companies pay to brokerages and their financial advisers to encourage sale of certain funds to retail investors are growing in size and variety, but the phenomenon is …
Wall Street ends down as energy shares decline, offset ECB
NEW YORK (Reuters) – U.S. stocks ended down on Thursday, retreating from intraday records for the S&P and Dow, as a decline in energy shares sapped an earlier rally following the European Central Bank’s new stimulus measures.
Big banks must face U.S. swaps price-fixing lawsuit
NEW YORK (Reuters) – A Manhattan federal judge said on Thursday that investors may pursue a lawsuit accusing 12 major banks of violating antitrust law by fixing prices and restraining competition in the roughly $21 trillion market for credit default sw…
Argentina Senate passes debt swap plan in defiance of U.S. courts
BUENOS AIRES (Reuters) – Argentina’s Senate on Thursday passed a bill aimed at circumventing U.S. court decisions regarding its defaulted debt by changing payment jurisdiction, sending the proposal to the lower house Chamber of Deputies for final appro…
Home Depot in contact with Secret Service over alleged breach: source
WASHINGTON (Reuters) – Home improvement retailer Home Depot Inc has been in contact with the U.S. Secret Service about an alleged major breach of customer and credit card data that came to light this week, a law enforcement source told Reuters on Thurs…
Fed survey highlights widening U.S. wealth, income gap
(Reuters) – The gap between the richest Americans and the rest of the nation widened after the Great Recession, a survey by the Federal Reserve showed on Thursday, suggesting deepening U.S. income inequality.
