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U.S. new home sales drop from eight-year high

New U.S. single-family home sales fell in May from a more than eight-year high amid weakness in three regions, but the overall housing market remains intact. The Commerce Department said on Thursday new home sales dropped 6.0 percent to a seasonally adjusted annual rate of 551,000 units. Economists polled by Reuters had forecast new home sales, which account for about 9.1 percent

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U.S. new home sales drop from eight-year high

Merrill Lynch to pay $415 million for misusing customer cash: SEC

An SEC investigation found that Merrill Lynch violated the an SEC rule in place for protecting customers' assets by misusing customer cash that should have been deposited in a reserve account, the agency said. The maneuver freed up billions of dollars per week from 2009 to 2012 that Merrill Lynch used to finance its own trading activities, the SEC said. The case is the largest customer protection settlement in SEC history, Andrew Ceresney, direction of the SEC's Division of Enforcement, said in a call with reporters.

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Merrill Lynch to pay $415 million for misusing customer cash: SEC

Behind Tesla carnage, signs of support for Musk’s SolarCity deal

“It’s a natural evolution of their mission to transform transportation into a sustainable business,” said Joe Dennison, a portfolio manager of Zevenbergen Capital Investments, which has about 600,000 Tesla shares, or about 0.4 percent of shares outstanding.

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Behind Tesla carnage, signs of support for Musk’s SolarCity deal

EU regulators to rule on $130 billion Dow, DuPont deal by July 28

EU antitrust authorities will decide by July 28 whether to allow the $130 billion merger of U.S. chemical company Dow Chemical Co and its rival DuPont , one of several large agribusiness deals. The companies requested approval on Wednesday

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EU regulators to rule on $130 billion Dow, DuPont deal by July 28

U.S. jobless claims near 43-year low; new home sales decline

The number of Americans filing for unemployment benefits fell last week to near a 43-year low, suggesting labor market resilience even though hiring slowed sharply in May. The drop in jobless claims could give Federal Reserve officials more confidence that job growth will pick up. “Overall labor market conditions are not as bad as one might assume based on May's non-farm payroll print alone,” said Jim Baird, chief investment officer at Plante Moran Financial Advisors in Kalamazoo, Michigan.

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U.S. jobless claims near 43-year low; new home sales decline

Samsung takes fight to Apple with mobile wallet strategy

By Matt Siegel and Se Young Lee SYDNEY/SEOUL (Reuters) – Smartphone leader Samsung Electronics has for years been a spectator as Apple built a services “ecosystem” supporting its products. For

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Samsung takes fight to Apple with mobile wallet strategy

Allegiant Travel strikes tentative deal with Allegiant Air pilots

The deal comes after years of unsuccessful contract talks and allegations made by the pilots union that Allegiant failed to abide by a July 2014 federal court injunction that directed the low-cost carrier to restore the pilots' benefits and work rule protections to levels negotiated previously. The tentative agreement must be voted on and ratified by Allegiant Air pilots, who were represented by the International Brotherhood of Teamsters, and the results are expected in late July, the company said. Last year, the air pilots threatened to go on a strike…

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Allegiant Travel strikes tentative deal with Allegiant Air pilots

U.S. banks tell trading clients to brace for UK vote

U.S. banks including Bank of America Corp and Morgan Stanley are warning clients about the potential for extreme price moves as Britain prepares to vote on its membership of …

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U.S. banks tell trading clients to brace for UK vote

Tesla offers $2.8 billion for SolarCity in ‘no brainer’ deal for Musk

By Nichola Groom and Paul Lienert LOS ANGELES/DETROIT (Reuters) – Elon Musk on Tuesday sought to build a clean energy powerhouse as his electric car maker, Tesla Motors Inc , made an offer to buy his solar installation firm SolarCity Corp in a stock deal worth as much as $2.8 billion. Tesla shares plunged more than 13 percent to $189.99 in extended trading – amounting to a loss in value of about $4.3 billion, or more than the value of the offer for the other company. Shares of SolarCity rose about 18 percent …

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Tesla offers $2.8 billion for SolarCity in ‘no brainer’ deal for Musk

Fed cautious on rates due to Brexit, U.S. hiring slowdown: Yellen

The Federal Reserve's ability to raise interest rates this year may hinge on a rebound in hiring that would convince policymakers the U.S. economy is not faltering, Fed Chair Janet Yellen told lawmakers on Tuesday. …

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Fed cautious on rates due to Brexit, U.S. hiring slowdown: Yellen

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