Apple options volume soars on Icahn investment
NEW YORK (Reuters) – Trading in Apple Inc options surged on Tuesday after activist investor Carl Icahn revealed via Twitter a large stake in the tech company, which he believes to be undervalued.
Wall Street rises on economic data, Apple rallies
NEW YORK (Reuters) – Stocks rose on Tuesday after strong economic data including retail sales, while Apple boosted the Nasdaq after billionaire investor Carl Icahn revealed a long position in the stock.
Ackman quits J.C.Penney board, removing distraction
(Reuters) – Hedge fund billionaire Bill Ackman’s two-year campaign to transform department store J.C. Penney came to an abrupt end on Tuesday with his decision to step down from the board, after a weeklong public spat with fellow board members.
Fed could begin reducing bond buys in September: Lockhart
ATLANTA (Reuters) – The Federal Reserve could begin reducing its bond-buying stimulus as early as its September meeting despite inflation being below target, Atlanta Fed President Dennis Lockhart said on Tuesday.
Former JPMorgan executive says he expects to be cleared in ‘Whale’ probe
(Reuters) – Lawyers for Javier Martin-Artajo, a former JPMorgan Chase & Co employee who is expected to face U.S. criminal charges for his role in a trading scandal that cost the bank $6.2 billion, said on Tuesday he expects to be cleared of wrongdoing and has cooperated with regulators.
BP sues U.S. government over contract suspensions after oil spill
NEW YORK (Reuters) – BP Plc is suing the U.S. government for barring the British oil giant from obtaining new federal contracts after the company pleaded guilty to charges related to the 2010 rig explosion in the Gulf of Mexico.
Heinz to cut 600 jobs in North America after sale of company
PITTSBURGH (Reuters) – H.J. Heinz Co, the world’s largest ketchup maker, said on Tuesday it plans to eliminate 600 jobs across North America.
U.S. retail sales data points to improving economy
WASHINGTON (Reuters) – U.S. retail sales rose in July, pointing to an acceleration in consumer spending that could bolster the case at the U.S. Federal Reserve for winding down a major economic stimulus program.
SEC wins dismissal of lawsuit over handling of $7 billion Stanford fraud
(Reuters) – A federal judge in Florida has thrown out a lawsuit accusing the U.S. Securities and Exchange Commission of negligence for failing to report that the now-imprisoned swindler Allen Stanford was running a $7.2 billion Ponzi scheme.
Nasdaq to take on greater policing role on its stock exchange
NEW YORK (Reuters) – Nasdaq OMX Group Inc plans to assume a greater role in the policing of its U.S. stock exchange, according to a regulatory filing, in a move that follows calls by Wall Street for an end to the self-regulatory status of exchanges.
