Facebook goes express to mega-cap status – now valued more than AT&T, Coke
NEW YORK (Reuters) – In the days after its infamously mishandled initial public offering in May 2012, it looked as if Facebook would struggle to become a must-own for fund managers.
GM, Ford hopeful of European rebound despite Ukraine, Russia
FRANKFURT/DETROIT (Reuters) – Ford Motor Co and General Motors Co said on Thursday the crisis in Ukraine has exacerbated a sales slowdown in Russia, but the carmakers said they were on track to turn around their European operations after years of econo…
U.S. judge won’t void five ex-Madoff employees’ convictions
NEW YORK (Reuters) – The federal judge who oversaw the trial of five associates of imprisoned swindler Bernard Madoff on Thursday refused to overturn their convictions for helping their former boss run one of the world’s biggest Ponzi schemes.
Lloyds expected to pay up to $509.5 million as LIBOR fine
(Reuters) – Lloyds Banking Group is expected to announce early next week that the British bank would pay between 200 million pounds and 300 million pounds ($509.52 million)to settle benchmark interest rate (LIBOR) fixing allegations, the Financial Time…
Stagnant wages leaves central banks fretting over fate of workers
WASHINGTON/FRANKFURT (Reuters) – After injecting trillions of dollars into the global financial system over the last six years, the world’s central bankers now face a vexing question: why is so little of it showing up in workers’ paychecks?
U.S. auto sales seen rising 9 percent in July: JD Power-LMC
DETROIT (Reuters) – U.S. auto sales in July will be the strongest for the month since 2006, and rise 9 percent from last year, automotive industry consultants J.D. Power and LMC Automotive predicted on Thursday.
Hershey warns of sticker shock from chocolate price hike
NEW YORK (Reuters) – Hershey Co, one of the world’s best known names in chocolate, expects its first price hike in three years to crimp short term sales, but over the long haul the popularity of chocolate will prevail, the company’s chief executive sai…
U.S. jobless claims hit more than eight-year low, but home sales tumble
WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits fell to the lowest level in nearly 8-1/2 years last week, suggesting the labor market recovery was gaining traction.
Barclays files to dismiss New York lawsuit against ‘dark pool’
NEW YORK/LONDON (Reuters) – Barclays Plc urged the dismissal on Thursday of a lawsuit from the New York attorney general alleging the bank lied to clients about its high-speed trading venue, saying the complaint had “fatal flaws” because Barclays’ cust…
Exclusive: Allegations of GSK corruption spread to Syria
LONDON (Reuters) – GlaxoSmithKline faces new allegations of corruption, this time in Syria, where the drugmaker and its distributor have been accused of paying bribes to secure business, according to a whistleblower’s email reviewed by Reuters.
