FTC opens oil pricing probe, following EU: Bloomberg
NEW YORK (Reuters) – The U.S. Federal Trade Commission has followed the European Union in opening a formal probe into how crude oil and refined fuel prices are set, Bloomberg News reported on Monday.
New York City to audit Navigant billing practices
(Reuters) – New York City Comptroller John Liu said he would audit the billing practices of consulting firm Navigant Consulting Inc, after a state commission found evidence of questionable billing practices and a “revolving door” relationship with stat…
Major law firm Weil to lay off staff, cut partner pay
NEW YORK (Reuters) – Weil Gotshal & Manges, one of the world’s most prominent law firms, said on Monday it would lay off 60 associate lawyers and 110 support staff, a sign that the financial challenges buffeting the law industry continue unabated.
Jefferies sets pricing on $5.2 billion loan for Icahn’s Dell bid
(Reuters) – Jefferies & Co outlined price guidance on the $5.2 billion in term loans backing Carl Icahn’s bid for computer manufacturer Dell Inc, sources said.
Irish opposition calls for bank inquiry after tapes leak
DUBLIN (Reuters) – Ireland’s opposition called for a full inquiry into the collapse of Ireland’s financial system on Monday, after a newspaper published recordings of talks between Anglo Irish Bank executives about a bailout.
Banks a priority for new UK competition watchdog
LONDON (Reuters) – Britain’s banking sector will be a top focus for the country’s new competition watchdog, its chairman said on Monday, following a second call from lawmakers for wider customer choice.
Ford, UAW launch two-year pilot to cut blue-collar medical costs
DEARBORN, Michigan (Reuters) – Ford Motor Co is launching a two-year pilot program with the United Auto Workers and a UAW-affiliated retiree healthcare trust aimed at lowering medical costs for the second-largest U.S. automaker’s active and retired hou…
Fed’s Kocherlakota: markets wrong if think Fed now more hawkish
WASHINGTON (Reuters) – Financial markets are wrong to view the Federal Reserve as having become more hawkish in its views on the need to tighten monetary policy, Minneapolis Federal Reserve President Narayana Kocherlakota said on Monday.
U.S. appeals court upholds conviction of Galleon’s Rajaratnam
(Reuters) – A federal appeals court on Monday upheld the insider trading conviction of Galleon Group hedge fund founder Raj Rajaratnam, rejecting his argument that wiretap evidence was used improperly to convict him.
EU ministers seek resolution on who pays if banks fail
BRUSSELS (Reuters) – European Union finance ministers are under pressure to agree who pays for failing banks after failing to reach a deal last week, with Germany and France at odds on how to distribute the costs.
