Fed adopts tough capital rules for foreign banks
WASHINGTON (Reuters) – The Federal Reserve on Tuesday adopted tight new rules for foreign banks to shield the U.S. taxpayer from costly bailouts, ceding only minor concessions despite pressure from abroad to weaken the rule.
AIG holding BofA $8.5 billion settlement ‘hostage,’ investors say
NEW YORK (Reuters) – American International Group is holding “hostage” an $8.5 billion deal to compensate investors who bought Bank of America Corp mortgage securities, supporters of the deal said in court filings ahead of a hearing on Wednesday.
Deadline looms as Panama Canal, consortium seek end to cost dispute
PANAMA CITY/MADRID (Reuters) – The Panama Canal and a Spanish-led construction consortium expanding the major global waterway discussed options on Tuesday to keep the multibillion-dollar project afloat amid a dispute over costs, but any deal seemed unl…
Deal action pushes S&P higher; Nasdaq extends winning streak
NEW YORK (Reuters) – The S&P 500 and Nasdaq rose on Tuesday, following Wall Street’s biggest weekly gain of the year, as merger activity increased confidence that there is value in the stock market even as the benchmark index nears a record high.
General Electric Co seeks $658 million U.S. tax refund: court filing
WASHINGTON (Reuters) – General Electric Co is suing the Internal Revenue Service for a $658 million tax refund related to a tax loss the company claimed as it exited the reinsurance market more than a decade ago.
Candy Crush Saga maker King plans U.S. stock market debut
STOCKHOLM (Reuters) – King, the company behind the hit mobile phone game “Candy Crush Saga,” is planning a U.S. stock market debut that some analysts think could value it at more than $5 billion and herald a flurry of technology company listings this y…
Exclusive: France’s Snecma targeted by hackers – researcher
BOSTON (Reuters) – French aerospace engine maker Snecma, a unit of Safran, was attacked by hackers who exploited a vulnerability in Microsoft Corp’s Internet Explorer, according to a computer security researcher.
Actavis to buy Forest for $25 billion; windfall for investor Icahn
(Reuters) – Generic drugmaker Actavis Plc said on Tuesday it would buy Forest Laboratories Inc for about $25 billion in cash and stock, giving it a major focus on higher-margin, branded treatments for Alzheimer’s, hypertension and other disorders.
Dongfeng deal buys time and new blood for Peugeot
PARIS (Reuters) – PSA Peugeot Citroen and China’s Dongfeng have agreed a 3 billion euro ($4.1 billion) capital tie-up that brings the troubled French carmaker new leadership, more time to turn its business around and an end to two centuries of family c…
CBO sees job losses, rising incomes with minimum wage increase
WASHINGTON (Reuters) – Raising the federal minimum wage to $10.10, as President Barack Obama and Democrats in Congress are proposing, could result in about 500,000 jobs being lost by late 2016, the Congressional Budget Office (CBO) estimated on Tuesday…
