House Republicans propose Fed reforms, set hearing
WASHINGTON (Reuters) – Republicans in the U.S. House of Representatives on Monday introduced a bill that would require the Federal Reserve to disclose more information, and set a hearing to discuss reform at the U.S. central bank.
U.S. agribusiness ADM to acquire Wild Flavors for $3 billion
LONDON/FRANKFURT (Reuters) – U.S. agribusiness Archer Daniels Midland has agreed to buy Swiss-German natural ingredient company Wild Flavors for 2.3 billion euros ($3 billion) to enter the flavoring and the health-conscious food sectors.
Top banks face wait for detail of new buffer to protect against bailouts
LONDON (Reuters) – Details of a new buffer of bonds to shield taxpayers from having to rescue a big bank won’t become clear for at least a year or more, a global banking regulator said on Monday.
More U.S. companies doing deals to avoid U.S. taxes: Congress study
WASHINGTON (Reuters) – Seventy-six U.S. corporations have shifted their tax domiciles out of the United States to other countries since 1983 to avoid U.S. taxes, with a sharp increase recently in such deals, a policy research arm of Congress said on Mo…
Trial of Rajaratnam’s brother ends as defense says U.S. case flawed
NEW YORK (Reuters) – A lawyer for Rengan Rajaratnam on Monday compared the government’s insider trading case against the younger brother of Galleon Group founder Raj Rajaratnam to a jigsaw puzzle where the pieces had been wrongly jammed together.
Vatican bank to be scaled back, restructured: sources
VATICAN CITY (Reuters) – The Vatican bank will soon hive off its investment activities and transform itself into an institution dedicated mostly to payment services for the Roman Catholic Church, Vatican sources said on Monday.
Obama-era trade law survives Chinese appeal at WTO
GENEVA (Reuters) – China failed to overturn a U.S. law targeting unfair trade subsidies on Monday, when the World Trade Organization’s Appellate Body said it did not have enough information to uphold China’s appeal against an earlier WTO ruling.
Pershing Square offers slate for Allergan board
(Reuters) – William Ackman’s Pershing Square Capital Management proposed on Monday a slate of six directors for the board of Allergan Inc as the hedge fund presses forward with its $53 billion takeover bid with Valeant Pharmaceuticals International Inc…
American Apparel lender intensifies demand for repayment
(Reuters) – Lion Capital has ordered American Apparel to immediately repay a $10 million loan, after the retailer failed to do so by a July 4 deadline, a source close to the matter said on Monday.
U.S. arrests Russian in hacking of retail systems
WASHINGTON (Reuters) – U.S. authorities have arrested a Russian man accused of hacking into American retailers’ computer systems to steal credit card data from 2009 to 2011, officials said on Monday.
