Barclays to fight $453 million power fine in U.S. court
NEW YORK/LONDON (Reuters) – Barclays will contest a record $453 million fine imposed by a U.S. energy regulator against the British bank and four of its power traders, setting up a likely federal court battle.
Icahn renews call to defeat Dell buyout offer as vote looms
(Reuters) – Billionaire activist Carl Icahn renewed his call for Dell Inc stockholders to vote against a buyout offer from Michael Dell, amid reports that the company founder might not win enough support for his bid.
Judge lets U.S. pursue $5-billion fraud lawsuit against S&P
(Reuters) – The U.S. government may proceed with its $5 billion lawsuit accusing Standard & Poor’s of misleading investors by inflating its credit ratings, after a federal judge rejected the rating agency’s effort to dismiss the civil fraud case.
Mattel profit slumps as costs rise, Barbie’s appeal fades
(Reuters) – Mattel Inc , the world’s largest toymaker, reported a far weaker-than-expected 23 percent drop in profit as costs rose and Barbie sales fell for the fourth straight quarter.
China blocks GSK finance head from leaving country
LONDON (Reuters) – Beijing is preventing GlaxoSmithKline’s head of finance for China from leaving the country, as police accuse the British drugmaker of bribing officials and doctors, a spokesman for the drugmaker said on Wednesday.
Abbott profit beats forecast, nutritional products strong
(Reuters) – Abbott Laboratories reported better-than-expected second-quarter earnings on Wednesday as strong demand for nutritional products offset lower sales of medical devices and generic prescription drugs.
GSK says China stops finance head from leaving country
LONDON (Reuters) – Beijing is preventing GlaxoSmithKline’s head of finance for China from leaving the country, as police accuse the British drugmaker of bribing officials and doctors, a spokesman for the drugmaker said on Wednesday.
Anxious markets hoping for clear steer from G20 as dollar fears bite
LONDON (Reuters) – A well-orchestrated statement from G20 finance chiefs this week could go some way towards defusing the volatility of global markets surrounding the end of U.S. money printing, but probably not the markets’ direction.
US Airways, American offer EU concessions over merger deal
BRUSSELS (Reuters) – US Airways Group and AMR Corp’s American Airlines have offered concessions to European Union antitrust regulators to win approval for their planned $11 billion merger to create the world’s largest airline.
IMF says China needs reform package to keep growth success going
BEIJING (Reuters) – China needs another round of “decisive measures” to make sure it continues its successful economic growth as its margins of safety are falling amid growing domestic problems, the International Monetary Fund said in its latest report…
