U.S. public pension investments jump, costs surge too
WASHINGTON (Reuters) – Asset values at U.S. public pension funds rose 8.4 percent in the latest fiscal year to the highest level in more than 40 years, but their costs also rose, the U.S. Census reported on Monday.
Fed to push hard with stimulus now; can step back later this year: Dudley
NEW YORK/SAN ANTONIO (Reuters) – The Federal Reserve must for now continue to push hard against threats to the U.S. recovery, but should still be able to reduce its support for the economy later this year, an influential central bank policymaker said o…
GSK’s China sales may be down 30 percent on bribery scandal: analysts
LONDON (Reuters) – GlaxoSmithKline’s sales in China may have dropped 30 percent since authorities accused it of corruption, disrupting its ability to market medicines in the country, according to analyst estimates.
Air France-KLM defers decision on Alitalia, seeks more data
PARIS (Reuters) – Air France-KLM deferred a decision on whether to offer more help for struggling Alitalia on Monday, saying it needed more information from its Italian partner’s management.
ADM considering locations for new global headquarters
CHICAGO (Reuters) – Archer Daniels Midland Co said on Monday that it is considering locations for a new global headquarters.
Chrysler halts Cherokee production, idles second shift in Toledo
DETROIT (Reuters) – Chrysler Group LLC, the U.S. automaker majority-owned by Italian automaker Fiat SpA , said on Monday that it temporarily halted production of the 2014 Jeep Cherokee, and laid off 500 workers at a factory in Toledo, Ohio.
Canada government has no comment on private offer for BlackBerry
OTTAWA (Reuters) – Canadian Industry Minister James Moore on Monday declined to comment on a tentative deal to take struggling smartphone maker BlackBerry Ltd private.
Fed’s Fisher urged trimming $10 billion in Treasuries buying
SAN ANTONIO, Texas (Reuters) – Dallas Federal Reserve President Richard Fisher said on Monday he had urged his colleagues to support a $10 billion reduction in the Fed’s bond-buying program at the U.S. central bank’s policy meeting last week.
Bank of America goes to trial over U.S. mortgage fraud charges
NEW YORK (Reuters) – Bank of America Corp heads to trial this week over allegations its Countrywide unit approved deficient home loans in a process called “Hustle,” defrauding Fannie Mae and Freddie Mac, the U.S. government enterprises that underwrite …
SAC seeks to settle insider trading charges: Bloomberg Businessweek
NEW YORK (Reuters) – Lawyers for Steven A. Cohen’s embattled $14 billion hedge fund, SAC Capital Advisors, have reached out to U.S. prosecutors in Manhattan to try to settle insider trading charges, Bloomberg Businessweek reported on Monday.
