Ackman may struggle to raise $1 billion in less than 10 days
BOSTON (Reuters) – Hedge fund manager William Ackman’s strong returns have made him into one of Wall Street’s biggest managers, but even he may struggle to raise $1 billion in the next week for a single stock fund whose target he won’t identify, say in…
Pentagon chief says draconian steps would be needed to meet cuts
WASHINGTON (Reuters) – U.S. Defense Secretary Chuck Hagel warned on Wednesday the Pentagon would have to take draconian steps next fiscal year, including hiring freezes and cuts in weapons purchases, unless Congress acts to stop $52 billion in spending…
Ford cuts price of 2014 electric Focus by 10 percent
DETROIT (Reuters) – Ford Motor Co. will reduce the price of its 2014 Focus Electric compact car by 10 percent, the latest in a series of price cuts by major automakers on their battery-powered cars.
Fed wants more job gains before slowing bond buys: minutes
WASHINGTON (Reuters) – Even as consensus built within the Federal Reserve in June about the likely need to begin pulling back on economic stimulus measures soon, many officials wanted more reassurance the employment recovery was on solid ground before …
China to hand over documents for U.S. accounting probes
SHANGHAI/NEW YORK (Reuters) – China’s securities watchdog said it is ready to turn over audit documents of a Chinese company listed in the United States to U.S. regulators, signaling the latest breakthrough in a two-year international dispute over acco…
UnitedHealthcare sees doubling of accountable care business
(Reuters) – UnitedHealth Group Inc on Wednesday said it expects its accountable care contracts to double to $50 billion by 2017, reimbursing far more doctors and patients according to how well and how economically medical care is delivered.
Europe, not emerging markets, seen driving Q2 earnings
LONDON (Reuters) – Europe’s food, drink, technology and financial companies are set to be the stars of the second-quarter earnings season thanks to a nascent regional recovery, while those selling to emerging markets may disappoint.
Zurich CEO urges world capital standards for insurers: paper
FRANKFURT (Reuters) – The insurance industry needs worldwide definitions for the capital underpinning its business just as the Basel III capital rules have set standards for the banking sector, the chief executive of Zurich Insurance told a German dail…
Wholesale inventories fall, likely drag on GDP growth
WASHINGTON (Reuters) – U.S. wholesale inventories fell in May by the most in a year and a half, the second straight monthly decline and a sign that restocking by businesses could weigh against economic growth in the second quarter.
Fairholme Funds sues U.S. over Fannie, Freddie bailout agreement
WASHINGTON (Reuters) – Bruce Berkowitz’s Fairholme Funds Inc sued the U.S. government, claiming that changes to the bailout terms set for mortgage financiers Fannie Mae and Freddie Mac unlawfully impair shareholder value.
