Inflation data points to firming economy
WASHINGTON (Reuters) – A gauge of underlying inflation showed signs of stabilizing in May after a long decline, a potential comfort to Federal Reserve policymakers who want firmer prices.
Rebalance of Russell index to bring volume surge at quarter-end
NEW YORK (Reuters) – Investors accustomed to late market volatility at the end of the quarter should expect an extra jolt on June 28, when billions of dollars in stock trades will be executed in less than two seconds.
United Technologies told to pay $473 million to U.S. in lawsuit
(Reuters) – A federal judge has ordered United Technologies Corp to pay $473 million plus interest for manipulating costs to win U.S. Air Force jet engine contracts in the 1980s.
UK charges ex-UBS trader Hayes in Libor investigation
LONDON (Reuters) – Britain’s fraud prosecutor on Tuesday charged former UBS trader Tom Hayes with eight counts of conspiracy to defraud, as part of a global investigation into the manipulation of benchmark interest rates.
M&T Bank to fix anti-money laundering flaws, Fed says
WASHINGTON (Reuters) – M&T Bank Corp will put a comprehensive plan in place to fix problems with its anti-money laundering policies that had caused regulators to put a hold on its $3.7 billion bid to buy Hudson City Bancorp.
Obama says Bernanke has ‘stayed a lot longer’ than he wanted at Fed
WASHINGTON (Reuters) – President Barack Obama hinted in an interview aired on Monday that he may be looking for a new chief of the U.S. Federal Reserve Bank, saying Ben Bernanke has stayed a lot longer than the current chairman had originally planned.
More investors hold bullish U.S. bond bets before FOMC: survey
NEW YORK (Reuters) – More investors raised their positions in longer-dated U.S. Treasuries holdings in the latest week in advance of the Federal Reserve’s two-day policy meeting, according to a survey released on Tuesday.
Vodafone and Liberty face battle for Kabel Deutschland
LONDON (Reuters) – Vodafone faces a battle for Germany’s largest cable company, Kabel Deutschland, although rival bidder Liberty Global of the United States has bigger regulatory and funding hurdles to overcome.
GE to create Russian venture to build power plants
MOSCOW (Reuters) – U.S. conglomerate General Electric Co will create a joint venture with Russia’s state-funded private equity vehicle to build mini power plants across Russia, the parties said on Tuesday.
Pentagon, contractors take aim at F-35 operating costs
PARIS (Reuters) – With development and technology challenges on the Lockheed Martin Corp F-35 fighter increasingly under control, the company and the U.S. military are taking aim at a more vexing problem: the cost of flying and maintaining the new warp…
