Second-quarter GDP to slow sharply on tax burden
WASHINGTON (Reuters) – Economic growth probably slowed sharply in the second quarter, but its pace is unlikely to change views that the Federal Reserve will start trimming bond purchases later this year.
Hudson’s Bay CEO bets big on department stores with Saks buy
NEW YORK/TORONTO (Reuters) – Richard Baker is doubling down on his attempt to revive big-name department stores with a $2.4 billion bid to buy Saks Inc, bringing the New York retailer into Canada and under the same roof as Lord & Taylor and Canada’s Hudson’s Bay.
Wall St. declines as investors focus on Fed policy meeting
NEW YORK (Reuters) – U.S. stocks fell on Monday, pulling back before this week’s Federal Reserve meeting that could signal when the Fed is going to begin reducing its bond purchases aimed at helping the economic recovery.
Worker or contractor? U.S. businesses get it wrong: IRS watchdog
WASHINGTON (Reuters) – U.S. businesses are avoiding millions of dollars a year in federal tax payments by improperly listing employees as independent contractors, despite an Internal Revenue Service program designed to resolve the uncertainty, the agen…
IMF approves $2.3 billion aid for Greece
WASHINGTON (Reuters) – The International Monetary Fund on Monday approved a further 1.7 billion euros ($2.3 billion) in funds for Greece’s bailout program after completing the fourth review of the cash-strapped euro zone state.
Experts predict long antitrust road for Omnicom, Publicis
WASHINGTON/BRUSSELS (Reuters) – Publicis and Omnicom will most likely have to shed some assets in order for their mega deal to win approval from regulators in the United States, Europe and 40 other countries where they operate.
U.S., Japanese stocks boosts Loeb’s Third Point fund
NEW YORK (Reuters) – Bets on U.S. and Japanese stocks helped Daniel Loeb’s hedge fund, Third Point, gain 3.3 percent during the second quarter, even as equity and bond markets suffered rapid sell offs in June, the manager told his investors on Monday.
Boeing asks for beacon checks on up to 1,200 jets
PARIS/SINGAPORE (Reuters) – Boeing has asked airlines to inspect up to 1,200 aircraft across their fleets to gather data on Honeywell emergency beacons that have come under scrutiny following a fire on a parked 787 Dreamliner two weeks ago.
SEC fraud case against ex-Goldman trader Tourre in homestretch
NEW YORK (Reuters) – Testimony ended Monday in the civil fraud case of Fabrice Tourre, with lawyers for former Goldman Sachs trader not calling any witnesses before the U.S. Securities and Exchange Commission’s case goes to a Manhattan federal jury.
Exclusive: EU to clear US Airways, American $11 billion merger – sources
BRUSSELS (Reuters) – AMR Corp’s American Airlines and US Airways will win EU approval for their $11 billion merger to become the world’s largest carrier after agreeing to cede slots on a transatlantic route, three persons familiar with the matter said …
