Key witness against SAC’s Steinberg finishes testimony
NEW YORK (Reuters) – The government’s star witness in its insider trading case against SAC Capital Advisors’ Michael Steinberg faced a final day of questioning on Wednesday, as lawyers sparred over whether he was a credible cooperator or a liar.
Microsoft says Xbox One global sales top 2 million
SAN FRANCISCO (Reuters) – Microsoft Corp has sold more than 2 million Xbox One video game consoles since its November 22 launch, catching up with rival Sony Corp’s PlayStation 4 released a week earlier.
Wall Street willing to offer Freedom Group more debt: sources
NEW YORK (Reuters) – Some creditors of Freedom Group Inc, maker of the Bushmaster rifle used in the Newtown, Connecticut, school massacre, are willing to offer the company more debt, despite the fact many of its private equity fund investors want out.
JPMorgan’s Dimon upbeat about budget deal, economy
(Reuters) – JPMorgan Chase & Co CEO Jamie Dimon said on Wednesday he was thankful congressional leaders had reached a budget deal and was “less worried” about the impact of an eventual scaling back of the Federal Reserve’s market-friendly stimulus measures.
Higher operating expenses pinch Costco profit
(Reuters) – Costco Wholesale Corp reported a first-quarter profit that fell short of analysts’ estimates, hurt by higher stock-based compensation expenses and spending on technology.
Germany seeking early start for EU rules hitting creditors of failed banks
BRUSSELS (Reuters) – Bondholders and large depositors in a failing bank could face losses as early as 2016 if Germany succeeds in accelerating tough new European rules to spare taxpayers from further bailouts.
U.S. budget deal lowers risk of damage to creditworthiness: Fitch
NEW YORK (Reuters) – Fitch Ratings said the bipartisan U.S. budget deal hashed out Tuesday still leaves U.S. sovereign credit vulnerable to a downgrade, but reduces the risk of damaging the economy or perceptions of U.S. creditworthiness.
Sustainable strategies win over skeptical emerging stock investors
LONDON (Reuters) – Cajoled by developed world governments and shocked by disasters such as the Bangladesh factory collapse, investors in emerging market companies are looking more closely at environmental, social or governance issues before they buy.
Etihad examines Alitalia’s books, mulls investment: sources
MILAN/ABU DHABI (Reuters) – Abu Dhabi’s Etihad Airways is examining Alitalia’s books and is expected to decide by Christmas whether to take a stake in the troubled Italian airline, two sources familiar with the matter said on Wednesday.
Advantage picks buyer, settles vehicle lease deal with Hertz
(Reuters) – Advantage Rent A Car said it picked Canadian private equity Catalyst Capital Group Inc to buy its assets in bankruptcy proceedings and reached a deal with Hertz Global Holdings Inc that allows Advantage to continue using a leased vehicle fl…
