Dow, S&P 500 end at record highs after data
NEW YORK (Reuters) – The Dow and the S&P 500 edged up to end at record highs on Friday, wrapping up four straight months of gains, after mixed economic data gave investors little reason to rush into stocks.
Men’s Wearhouse gets FTC nod to sew up Jos. A. Bank deal
WASHINGTON (Reuters) – U.S. antitrust officials on Friday gave the green light for the proposed merger of Men’s Wearhouse Inc and Jos. A. Bank Clothiers Inc to move ahead, citing ample competition in the market for men’s suits and tuxedo rentals.
ECB and BoE plan to revive EU securitization, boost investment
LONDON/FRANKFURT (Reuters) – The European Central Bank and the Bank of England set out proposals on Friday to resurrect the European Union’s market for asset-backed securities and help the flow of credit to smaller businesses.
Siemens CEO tries to calm furore over job cuts
BERLIN/MUNICH (Reuters) – The chief executive of German conglomerate Siemens SIEGn.DE tried to calm a brewing storm over job cuts on Friday after he let slip at an investor conference in New York that his plan to restructure the company could put up to…
Fed’s Mester stresses stable prices, inflation research
CLEVELAND (Reuters) – The Federal Reserve cannot achieve full U.S. employment over the longer term without stabilizing prices, incoming Fed policymaker Loretta Mester said on Friday, stressing that clear communication will be key as the central bank re…
U.S. consumer spending dips; inflation creeps up
WASHINGTON (Reuters) – U.S. consumer spending fell for the first time in a year in April after two months of solid gains, but the decline is likely temporary given a strengthening jobs market.
Ex-Goldman director Gupta loses bid to stay out of prison
NEW YORK (Reuters) – Former Goldman Sachs Group Inc director Rajat Gupta will begin serving a two-year prison term on June 17 after a U.S. federal appeals court rejected his bid to stay free while he appeals his insider trading conviction.
Capital concerns hit BNP Paribas on report of $10 billion U.S. fine
PARIS/LONDON (Reuters) – Fears that a looming U.S. fine on BNP Paribas BNPP.PA could be big enough to force it to raise capital and restrict its dividends hit France’s biggest bank on Friday, driving its shares sharply lower.
Swiss banks risk bigger than expected fines in U.S. tax case
ZURICH/WASHINGTON (Reuters) – Swiss banks under investigation for allegedly aiding U.S. tax evasion face the prospect of bigger fines than they bargained for that could dent their capital and force some to cut dividends.
U.S. house price gains seen moderating over next few years: poll
WASHINGTON (Reuters) – U.S. house price rises will likely slow further over the next two years, curbed by tight lending standards, slow wage growth and a lack of first time buyers, a Reuters poll found.
