Blackstone explores $4.5 billion La Quinta sale: source
NEW YORK (Reuters) – Blackstone Group LP is exploring a sale of La Quinta Inns & Suites, a budget hotel chain it values at around $4.5 billion, a person familiar with the matter said on Tuesday.
Fed could taper in September but doesn’t have to: Lockhart
WASHINGTON (Reuters) – The Federal Reserve could begin reducing the size of its bond-buying stimulus program as early as September but might wait longer if economic growth fails to pick up in the second half of the year, a top Fed official said on Tues…
Wall Street watchdog says scammers going retro with phone calls
NEW YORK (Reuters) – Wall Street’s industry-funded watchdog on Tuesday warned that scammers are turning to a rather old-fashioned strategy for defrauding investors – the phone call.
UBS to pay $49.8 million to settle SEC fraud charges over CDO
(Reuters) – UBS AG agreed to pay $49.8 million to settle U.S. Securities and Exchange Commission charges it misled investors about a mortgage bond transaction it structured prior to the 2008 financial crisis, the regulator said on Tuesday.
Price swings in microcap stocks trip circuit breaker on Nasdaq
NEW YORK (Reuters) – Four microcap companies which trade on the Nasdaq were halted earlier on Tuesday after triggering the exchange’s circuit breaker pause due to large price swings.
TravelCenters of America profit drops 46 percent; shares fall
(Reuters) – TravelCenters of America LLC , one of the largest truck-stop operators in the United States by number of locations, reported a 46 percent drop in quarterly profit due to lower margins on fuel sales and higher depreciation and amortization c…
Fossil profit beats Street as it sells more in Europe, Asia
(Reuters) – Fashion accessory maker and retailer Fossil Group Inc reported a better-than-expected quarterly profit as it sold more watches and jewelry in Europe and Asia, sending its shares up as much as 22 percent.
Detroit property owners can file tax appeals, judge says
DETROIT (Reuters) – The judge overseeing Detroit’s bankruptcy filing will allow Detroit property owners to file tax appeals despite a stay preventing all legal action against the city while it is in bankruptcy court.
Ratio of U.S. job seekers to openings drops to four-year low
WASHINGTON (Reuters) – The ratio of unemployed Americans to every job opening fell in June to its lowest level in over four years, a positive sign for wages and the broader economy.
Spirit AeroSystems delays earnings, to shed Oklahoma unit
(Reuters) – Spirit AeroSystems Holdings , a supplier of parts to Boeing Co and Airbus , on Tuesday said it plans to divest its Oklahoma operations, including sites in Tulsa and McAlester, in a bid to improve operations and drive down costs.
