Stocks dip, yields inch up on Fed rate hike talk
NEW YORK Global stock markets edged lower while short-dated U.S. Treasury yields held near two-month highs on Monday as investors weighed the possibility that U.S. interest rates could soon rise.Commodities were mostly lower. Oil prices fell for a fourth session in a row as investors worried about global supply, while gold declined to a 3-1/2-week low.In the United States, an imminent rise in interest rates was looking more probable. The Federal Reserve will likely tighten policy a bit more qu..>> view originalHow the Dow Jones industrial average fared on Monday
By Associated Press May 23 at 4:43 PM NEW YORK — Stocks ended a quiet day slightly lower on Monday as investors sat on the sidelines waiting for more clues about whether the Federal Reserve might raise interest rates next month. Energy stocks fell along with the price of crude oil. On Monday: The Dow Jones industrial average fell 8.01 points, less than 0.1 percent, to 17,492.93. The Standard & Poor’s 500 index fell 4.28 points, or 0.2 percent, to 2,048.04. The Nasdaq composite lost 3.78 poin..>> view originalBanks Must Defend Libor Lawsuits After Judges Warn of Impact
Sixteen of the world’s largest banks including JPMorgan Chase & Co. and Citigroup Inc. must face antitrust lawsuits accusing them of hurting investors who bought securities tied to Libor by rigging an interest-rate benchmark, a ruling that an appeals court warned could devastate them.The appellate judges reversed a lower-court ruling on one issue -- whether the investors had adequately claimed in their complaints to have been harmed -- while sending the cases back for the judge to consider anot..>> view originalLendingClub's Unlikely Knight
LendingClub finally got the vote of confidence it sorely needed.For all the speculation that a bank or a peer in the brave new world of online lending who would swoop in and buy the beaten-down company whole, so far the biggest bet has come from someone who made his fortune in a different corner of the Internet: video games. A tangle of four companies affiliated with Shanda Group of Singapore, run by video-game entrepreneur Tianqiao Chen, disclosed that they hold 29 million shares of LendingClu..>> view originalTribune's Unlikely Ally: Health-Care Billionaire Patrick Soon-Shiong
Newspaper company Tribune Publishing Co. has found an unlikely ally as it fights against an unsolicited takeover bid from Gannett Co.: a doctor who has made billions in the health-care industry. Patrick Soon-Shiong is an entrepreneur, biotech investor, physician and scientist. And he is widely known as one of the richest men in Los Angeles because of his innovations in the health-care sector, from pioneering treatments for multiple forms of cancer to technological advancements in artificial int..>> view originalSports Authority shutting down with giant going-out-of-business sale
Sports Authority announced it will close or sell 140 stores. It's rumored Dick's Sporting Goods could buy some of those locations. Video provided by Newsy NewslookSports Authority which filed for Chapter 11 protection in March is now shutting all of its stores.(Photo: Joe Raedle, Getty Images)Sports Authority, in planning to close all of its stores,is set to launch its going-out-of-business sales this week, according to court documents.In shutting down, the 463-store chain becomes the..>> view originalDeal! American Capital Sells to Ares Capital
Ares Capital Corporation (NASDAQ:ARCC) proved again that it is the preferred acquirer in its industry, announcing its intention to acquire American Capital (NASDAQ:ACAS) in a deal worth $3.4 billion. This marks Ares Capital's second multibillion-dollar acquisition of a business development company. The merger will be paid for in cash and Ares Capital stock, helped by a side deal in which American Capital Agency (NASDAQ:AGNC) will buy its external manager from American Capital's asset managemen..>> view originalGas Prices Jump Another 8 Cents in Massachusetts
By Charlene Arsenault (Patch Staff)CHELMSFORD, MA—With one of the biggest traveling weekends upon us, motorists won't be psyched to hear that gas prices have jumped again.In Massachusetts, gasoline prices are up eight cents this week, according to AAA Northeast.A May 23 AAA survey of prices in the state finds self-serve, regular unleaded averaging $2.25 per gallon, eight cents higher than last week. The Massachusetts price is three cents below the national average for regular unleaded. A year ag..>> view originalBayer Makes $62 Billion Bid for Monsanto -- 4th Update
Shutterstock photo By Christopher Alessi FRANKFURT--German pharmaceutical and chemicals giant Bayer AG on Monday said it made an all-cash offer to acquire Monsanto Co. for $62 billion, valuing the U.S. company at a substantial premium in a deal that would create the world's largest agrochemicals company. Bayer, which confirmed last week that it had approached Monsanto about a takeover, said the $122-a-share bid values Monsanto at 37% over its closing share price of $89.03 on May 9, t..>> view originalMemorial Day travel expected to be busiest since 2005
With gasoline prices more than $1 cheaper than at this time last year, the number of Southern Californians traveling for the Memorial Day weekend is expected to be the highest since 2005.The Auto Club of Southern California expects 2.89 million Southern Californians and 4.67 million people statewide to travel during the upcoming holiday weekend, a 2.5% increase over the number of travelers a year earlier. This year's numbers are the highest since 2005, when a record 3.2 million Southern Califor..>> view original
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