Marc Rich, ‘King of Oil’, laid to rest in quiet Israel ceremony
KIBBUTZ EINAT, Israel (Reuters) – Billionaire Marc Rich, the pioneering oil trader who was also a fugitive from U.S. justice for tax evasion, racketeering and busting sanctions with Iran, was laid to rest in a quiet funeral outside Tel Aviv on Thursday…
Malone gauges options for Charter, Time Warner Cable deal: report
(Reuters) – John Malone, chairman of Liberty Media, is sounding out options for cable operator Charter Communications to acquire larger rival Time Warner Cable, according to a media report.
Navistar brings in GM executive as CFO
(Reuters) – Truck and engine maker Navistar International Corp , in the midst of a revamp after a disastrous engine redesign, brought in General Motors Co executive Walter Borst to replace departing Chief Financial Officer Andrew Cederoth.
U.S. Bank, partner to refund $6.5 million over auto lending
WASHINGTON (Reuters) – U.S. Bancorp’s U.S. Bank and a nonbank partner will refund about $6.5 million to U.S. military personnel over auto lending practices regulators said were deceptive, the Consumer Financial Protection Bureau said on Thursday.
Closing ranks, Fed officials push back on ‘out of sync’ markets
NEW YORK/WASHINGTON (Reuters) – In remarkably similar tones, two influential Federal Reserve policymakers on Thursday sought to dissuade investors that monetary accommodation was fading any time soon, each going so far as to say markets have misinterpr…
Fed to discuss final capital rules at meeting Tuesday
WASHINGTON (Reuters) – The Federal Reserve will discuss final rules to boost capital requirements for U.S. banks during an open meeting next Tuesday, the agency announced on Thursday.
Consumer spending, jobs data point to lukewarm growth
WASHINGTON (Reuters) – Consumer spending rebounded in May and new applications for unemployment benefits fell last week, suggesting the economy remained on a moderate growth path.
U.S. fines Macy’s over treatment of immigrant workers
(Reuters) – Macy’s Inc has agreed to pay a $175,000 civil fine and improve its practices to resolve a U.S. government probe that found the retailer had discriminated against immigrant employees when verifying their eligibility to continue to work.
U.S. lawmakers to examine Smithfield-Shuanghui deal
WASHINGTON (Reuters) – U.S. lawmakers will examine the proposed purchase of Smithfield Foods , the world’s largest pork processor, by Shuanghui International of China at a hearing in July, Debbie Stabenow, the head of the Senate Agriculture Committee, …
Rosneft offers to buy out small TNK-BP shareholders in cut-price deal
MOSCOW (Reuters) – Russian state oil major Rosneft on Thursday offered to buy out small shareholders in TNK-BP Holding but said it would pay less for the stock than the price at the time of the takeover in March.
