Pimco Total Return Fund adds Treasuries in tumultuous June
(Reuters) – The Pimco Total Return Fund, the world’s largest mutual fund, increased its holdings of Treasury securities and mortgages in June as performance fell to its lowest level since the financial crisis, data from the firm’s website showed on Mon…
Battery in Honeywell locator eyed in 787 fire probe: source
WASHINGTON (Reuters) – Investigators are looking into whether the fire on a Boeing 787 Dreamliner in London last week was caused by the battery of an emergency locator transmitter built by Honeywell International Inc , according to a source familiar wi…
Ultralife makes battery for beacon eyed in 787 probe: source
WASHINGTON (Reuters) – Ultralife Corp makes the lithium-manganese battery that powers the emergency transmitter that is being investigated as a possible cause of last week’s fire on a Boeing 787 in London, a source familiar with the investigation said …
S&P 500 gains for an 8th day, boosted by Citigroup
NEW YORK (Reuters) – Citigroup’s strong earnings helped the S&P 500 end higher on Monday for an eighth straight day, the longest such streak since mid-January, though weak retail sales limited gains in a session with the lowest volume of the year.
Trial of ex-Goldman trader about ‘Wall Street greed’: SEC
NEW YORK (Reuters) – The trial of former Goldman Sachs bond trader Fabrice Tourre was about “Wall Street greed,” a lawyer for the U.S. Securities and Exchange Commission said as the trial began on Monday.
Watchdog finds SEC did not properly vet contractors
WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission failed to properly investigate the possible criminal backgrounds of up to 70 contractors, including one who later assaulted his girlfriend, the agency’s watchdog found in a previously u…
Lawyer sentenced to prison for role in $2.4 billion fraud at Refco
NEW YORK (Reuters) – A former partner at the Mayer Brown law firm whose clients included Refco Inc was sentenced on Monday to one year and one day in federal prison for his role in a multibillion-dollar fraud at the now defunct commodities broker.
Citigroup profit jumps 42 percent on stronger markets
(Reuters) – Citigroup Inc posted a 42 percent jump in quarterly profit as bond trading revenue gained and stronger home prices helped the bad mortgages on its books, underscoring the bank’s recovery since the financial crisis.
Navistar avoids proxy battle by giving Icahn, Rachesky more say
(Reuters) – Navistar International Corp signed a new deal giving activist investors Carl Icahn and Mark Rachesky one more seat on its board, in a move that staves off a proxy contest and gives management more time to turn around the struggling truck an…
Former HealthSouth CEO Scrushy’s bribery conviction upheld
(Reuters) – A federal appeals court on Monday upheld the bribery conviction of HealthSouth Corp founder and former Chief Executive Richard Scrushy, rejecting his argument that new evidence of possible juror and judicial bias warranted a new trial.
