Puerto Rico paid $1.9B in debts due today: Report

Puerto Rico, for the moment, avoids falling into further financial crisis as concerns linger that it cannot pay its obligations.

Puerto Rico paid $1.9B in debts due today: Report source: http://finance.yahoo.com/news/puerto-rico-paid-1-9b-205313627.html

Stocks climb on optimism over Greece situation, U.S. economy

U.S. stocks traded higher, as investors eyed better-than-expected data and the latest developments between Greece and its creditors.

Stocks climb on optimism over Greece situation, U.S. economy source: http://finance.yahoo.com/news/stocks-higher-amid-greece-hopes-165809056.html

U.S. probing whether airlines collude to keep airfares high

The U.S. Justice Department is investigating whether U.S. airlines are working together to keep ticket prices high, spokeswoman Emily Pierce said on Wednesday. News of the probe knocked down airlines shares ...

U.S. probing whether airlines collude to keep airfares high source: http://finance.yahoo.com/news/u-probing-whether-airlines-collude-184806035.html

Deloitte to pay $1 million to resolve SEC auditor independence rule charges

Deloitte & Touche LLP will pay more than $1 million to settle charges that it violated auditor independence rules, after its consulting arm maintained a relationship with a trustee who served on boards for funds Deloitte audited, U.S. regulators said. The Securities and Exchange Commission said the trustee, Andrew C. Boynton, and the funds' administrator ALPS Fund Services, also settled charges in the case. SEC rules require auditors to maintain a degree of independence from clients whose books they review.

Deloitte to pay $1 million to resolve SEC auditor independence rule charges source: http://finance.yahoo.com/news/deloitte-pay-1-million-resolve-183638558.html

DoJ lawyers oppose GE unit's sale to Electrolux: source

Electrolux declined to comment, and the DOJ and GE were not immediately available for a comment. Sweden's Electrolux agreed to buy GE's century-old appliance business in September. The deal would double Electrolux's U.S. sales, putting it on a par with larger rival Whirlpool Corp (WHR.N).

DoJ lawyers oppose GE unit's sale to Electrolux: source source: http://finance.yahoo.com/news/doj-lawyers-oppose-ge-units-183219392.html

Greece's Tsipras digs in against bailout

A defiant Prime Minister Alexis Tsipras urged Greeks on Wednesday to reject an international bailout deal, wrecking any prospect of repairing broken relations with EU partners before a referendum on Sunday that may decide Greece's future in Europe.

Greece's Tsipras digs in against bailout source: http://finance.yahoo.com/news/greece-defaults-imf-payment-despite-013431592.html

Fannie Mae and Freddie Mac hike pay for their CEOs

U.S. government-controlled mortgage finance companies Fannie Mae and Freddie Mac on Wednesday disclosed huge pay raises for their chief executive officers, part of a plan sanctioned by their regulator to attract and retain talent. Fannie Mae CEO Timothy Mayopoulos and his counterpart at Freddie Mac, Donald Layton, will each now earn $4 million a year, up from previous annual salaries of $600,000. The Federal Housing Finance Agency, an independent regulator, slashed executive pay at the two companies in 2012.

Fannie Mae and Freddie Mac hike pay for their CEOs source: http://finance.yahoo.com/news/fannie-mae-freddie-mac-hike-173710637.html

Employer headaches over labor quality point to stronger U.S. wages

America's employers say they are finding it harder to find high-quality workers, which could soon fuel a boost in wage growth and help convince the Federal Reserve to hike interest rates. The Labor Department's monthly jobs report due on Thursday will likely show June was another month of lackluster pay increases, a trend going back to the 2007-09 recession. Headaches over worker quality are already leading Garry Floeter's construction firm in Cookeville, Tennessee to offer more money to workers trained to install mechanical systems at hospitals and other commercial buildings.

Employer headaches over labor quality point to stronger U.S. wages source: http://finance.yahoo.com/news/employer-headaches-over-labor-quality-173415249.html

Gross gets co-manager as Janus acquires firm of Pimco alum

Bill Gross, who has been running the $1.5 billion Janus Global Unconstrained Bond Fund since leaving Pacific Investment Management Co. last year, is getting a co-manager. Janus Capital Group Inc. on Wednesday said that Kumar Palghat, who worked with Gross at Pacific Investment Management Co. for 10 years, will help run the fund, with Gross staying on as lead manager. Janus also bought a majority stake in Palghat’s firm, Kapstream Capital Pty Ltd, a global unconstrained fixed income manager with $6.6 billion in assets.

Gross gets co-manager as Janus acquires firm of Pimco alum source: http://finance.yahoo.com/news/gross-gets-co-manager-janus-143512873.html

U.S. small business hiring takes a breather in June: NFIB

The National Federation of Independent Business said its monthly survey of members found hiring was little changed last month. NFIB chief economist William Dunkelberg said that sets the stage for an increase in the unemployment rate. Fifty-two percent of small business owners reported hiring or trying to hire, with 44 percent of those reporting few or no qualified applicants for the positions they were trying to fill.

U.S. small business hiring takes a breather in June: NFIB source: http://finance.yahoo.com/news/u-small-business-hiring-takes-172804685.html

Saudi Prince Alwaleed pledges $32 bn fortune to charity

Saudi tycoon Prince Alwaleed bin Talal on Wednesday promised his entire $32 billion (28.8 billion euro) fortune to charitable projects in coming years, in one of the biggest ever such pledges. The pledge is "maybe... the first such big announcement" of its kind in the region, and is modelled on a charity established by Microsoft founder Bill Gates in the United States, the prince told reporters. Alwaleed said he would head a board of trustees tasked with spending the funds, which would still be used after his death "for humanitarian projects and initiatives".

Saudi Prince Alwaleed pledges $32 bn fortune to charity source: http://finance.yahoo.com/news/saudi-prince-alwaleed-pledges-entire-32-bn-fortune-105948149.html

Aero-engine makers seek boost from major Airbus China deal

After Airbus's success (AIR.PA) it was the turn of engine makers to seek a boost from China's spending power on Tuesday as a major plane order generates lucrative follow-on opportunities. China placed a order for 45 A330 wide-body passenger jets on Tuesday, with plans for a possible further 30 aircraft in a deal worth between $11 billion and $18 billion. The order has now unleashed a battle between engine makers to win contracts with Chinese airlines who may ultimately benefit from the government-managed aircraft purchase, industry sources said on Wednesday.

Aero-engine makers seek boost from major Airbus China deal source: http://finance.yahoo.com/news/aero-engine-makers-seek-boost-170059667.html

Hillary Clinton raises record $45 million in first quarter of campaign

Hillary Clinton's presidential campaign raised at least $45 million during its first quarter, her campaign told Bloomberg on Wednesday. Clinton's haul from her campaign's launch in mid-April through June 30 is a record for primary money raised in a candidate's first quarter. President Barack Obama held the previous record for a campaign's first quarter, raising $41.9 million after launching his re-election bid.

Hillary Clinton raises record $45 million in first quarter of campaign source: http://finance.yahoo.com/news/hillary-clinton-raises-record-45-150100909.html

Want a national day? Check a website in North Dakota

To most Americans, July 4 is Independence Day. But on Marlo Anderson's calendar, it's also Caesar Salad Day and Barbecued Spareribs Day. Anderson is the mastermind of the National Day Calendar, an online ...

Want a national day? Check a website in North Dakota source: http://finance.yahoo.com/news/want-national-day-check-website-151351042.html

Greece proceeds with vote plan as creditors rebuff overture

Greece's government pressed ahead Wednesday with its plan to put austerity measures to voters after European creditors rebuffed its latest proposal for a new aid program. But finance ministers were still ...

Greece proceeds with vote plan as creditors rebuff overture source: http://finance.yahoo.com/news/greece-proceeds-vote-plan-creditors-153449399.html

Big U.S. investors expect Greeks to vote in favor of bailout: Reuters Poll

Reuters spoke to large U.S. money managers across several asset classes, and 15 of 21 said they expected Greek voters to answer yes to a question whether Athens should accept the proposal submitted by the European Commission, the European Central Bank and the International Monetary Fund on June 25. “The Greek people must be very scared at this stage,” said David Kelly, chief global strategist at JPMorgan Funds, which manages $800 billion in assets. "The arguments in favor of a 'yes' vote grow every minute the ATM machines don’t dispense money," said David Kotok, chief investment officer at Cumberland Advisors in Sarasota, Florida.

Big U.S. investors expect Greeks to vote in favor of bailout: Reuters Poll source: http://finance.yahoo.com/news/big-u-investors-expect-greeks-160830766.html

Tesla's charging troubles, Bill Gross gets a partner and Twitter's CEO shuffle

Yahoo Finance's Midday Movers is live each weekday at 12pm ET, covering all the latest news on the markets, the economy and the biggest stories of the day.

Tesla's charging troubles, Bill Gross gets a partner and Twitter's CEO shuffle source: http://finance.yahoo.com/news/tesla-s-charging-troubles--bill-gross-gets-a-partner-and-twitter-s-ceo-shuffle-145217392.html

About that 36% effective tax rate for Jeb Bush

About that 36% effective tax rate for Jeb Bush

About that 36% effective tax rate for Jeb Bush source: http://finance.yahoo.com/news/about-that-36--effective-tax-rate-for-jeb-bush-142200893.html

Lufthansa eyes sale of Luxair stake

LUXEMBOURG/BERLIN (Reuters) - Lufthansa (LHAG.DE) is considering selling its 13 percent stake in Luxair and has been in touch with other shareholders, including the Luxembourg government, to discuss the matter. Lufthansa, which has held a 13 percent stake in flag carrier Luxair since 1993, sounded out the possibility of a sale of its stake with the other shareholders as part of a regular portfolio review, a spokesman for the German airline said on Wednesday. Luxembourg infrastructure minister Francois Bausch said in a public session of parliament he had received a letter from Lufthansa stating the company's intention to sell, confirming comments he made in an interview with paper Luxemburger Wort.

Lufthansa eyes sale of Luxair stake source: http://finance.yahoo.com/news/lufthansa-eyes-sale-luxair-stake-153115306.html

Macy's dumps Trump clothing line in response to comments

Macy's is the latest company to end its relationship with Donald Trump as the fallout from the real estate mogul's remarks about Mexican immigrants continues. Companies have been cutting ties with Trump ...

Macy's dumps Trump clothing line in response to comments source: http://finance.yahoo.com/news/macys-dumps-trump-clothing-line-144911055.html

Global regulators propose tighter credit risk rules for banks

Global banking regulators have proposed a more comprehensive set of rules for banks to set aside capital to cover losses from their exposures to other lenders and limit fallout in a crisis. During the financial crisis some banks suffered big losses on their derivatives contracts due to weaker creditworthiness at banks on the other side of their trades. Since then capital requirements to cover such "credit valuation adjustments" (CVA) have been beefed up but the Basel Committee of banking supervisors wants to extend them to "reduce the incentive banks currently have to leave some of their risks unhedged".

Global regulators propose tighter credit risk rules for banks source: http://finance.yahoo.com/news/global-regulators-propose-tighter-credit-152906424.html

Global factory growth eases on weak Asia, Europe: PMI

Global manufacturing growth slowed last month as most Asian economies remained weak while Greek debt talks that dominated debate in Europe kept the euro zone in check, a business survey showed on Wednesday. JPMorgan's Global Manufacturing Purchasing Managers' Index (PMI), produced with Markit, nudged down to 51.0 in June, matching April's near two-year low. "The growth of manufacturing output remained subdued during the second quarter, with the rates of increase in new business and output slipping to their lowest since the first half of 2013," said David Hensley, a director at JPMorgan.

Global factory growth eases on weak Asia, Europe: PMI source: http://finance.yahoo.com/news/global-factory-growth-eases-weak-152005861.html

Macy's cuts ties with Donald Trump after Mexico insults

Department store Macy's Inc said on Wednesday that it would end its business relationship with real estate developer and TV personality Donald Trump after his comments insulting Mexicans, including phasing ...

Macy's cuts ties with Donald Trump after Mexico insults source: http://finance.yahoo.com/news/macys-cuts-ties-donald-trump-145459611.html

U.S. construction spending rises to 6-1/2-year-high

Construction spending increased 0.8 percent to an annual rate of $1.04 trillion, the highest level since October 2008, the Commerce Department said on Wednesday. Economists polled by Reuters had forecast construction spending rising 0.5 percent in May. The government revised construction spending data going back to January 2013. The economy was hit by bad weather, port disruptions, a strong dollar and spending cuts in the energy sector at the start of the year.

U.S. construction spending rises to 6-1/2-year-high source: http://finance.yahoo.com/news/u-construction-spending-rises-6-140726338.html

LVMH's Donna Karan quits as designer of own name brand

Donna Karan has resigned as chief designer of the fashion brand she founded and sold to French luxury goods owner LVMH (LVMH.PA) as the group opts to concentrate on its more accessible DKNY line. Parent company Donna Karan International (DKI) said it planned to suspend fashion shows and designer collections "for a period of time" but would continue to support its significant license business for products such as watches and eyewear. "DKI will also reorganize its teams and restructure in order to substantially increase its focus on the DKNY brand," it said in a statement on Wednesday.

LVMH's Donna Karan quits as designer of own name brand source: http://finance.yahoo.com/news/lvmhs-donna-karan-quits-designer-141315324.html

Robert Shiller: Stocks pricey-here's what to do

Nobel Prize-winning economist Robert Shiller tells CNBC that his key valuation indicator is flashing warning signs. He also offers advice.

Robert Shiller: Stocks pricey-here's what to do source: http://finance.yahoo.com/news/robert-shiller-stocks-pricey-heres-134833084.html

U.S. factory activity eases; slowest pace since October 2013: Markit

Growth in the U.S. manufacturing sector eased in June, hitting its slowest pace since October 2013, according to an industry report released on Wednesday. Financial data firm Markit said its final U.S. Manufacturing Purchasing Managers' Index declined to 53.6 in June, its lowest since October 2013, from 54.0 in May. The June reading was up slightly from a preliminary reading of 53.4. "Purchasing managers are reporting the slowest rate of manufacturing expansion for over a year and a half, suggesting that the economy is slowing again," said Chris Williamson, chief economist at Markit.

U.S. factory activity eases; slowest pace since October 2013: Markit source: http://finance.yahoo.com/news/u-factory-activity-eases-slowest-134847865.html

UPDATE 1-U.S. auto sales on pace for gain over year ago, led by SUVs

U.S. June auto sales remained strong in June as sport utility vehicles and trucks again outpaced cars amid moderately low gasoline prices, automakers reported on Wednesday. While Ford Motor Co's sales rose only 2 percent, it showed the largest increase in the market in the average price of its vehicles, industry consultant Kelley Blue Book said. Ford's SUV sales rose 10 percent but car sales fell 3.5 percent.

UPDATE 1-U.S. auto sales on pace for gain over year ago, led by SUVs source: http://finance.yahoo.com/news/u-auto-sales-pace-gain-133421077.html

U.S. auto sales on pace for gain over year ago, led by SUVs

U.S. June auto sales remained strong in June as sport utility vehicles and trucks again outpaced cars amid moderately low gasoline prices, automakers reported on Wednesday. While Ford Motor Co's sales ...

U.S. auto sales on pace for gain over year ago, led by SUVs source: http://finance.yahoo.com/news/u-auto-sales-pace-gain-134147854.html

France's Hollande - it's our duty to keep Greece in euro zone

French President Francois Hollande said it was the duty of other euro zone countries as well as Greece to keep the country in the single currency area, adding that now was not the time for vetoes or "intransigent statements" but for dialogue. "It is our duty to keep Greece in the euro zone.

France's Hollande - it's our duty to keep Greece in euro zone source: http://finance.yahoo.com/news/frances-hollande-duty-keep-greece-125616952.html

Fed's Brainard says Fed examining possible drop in market liquidity

The U.S. Federal Reserve has launched a study to see if U.S. Treasury markets are being hampered by a lack of liquidity, an issue some investors and others have cited as a potential risk to financial stability, Fed board member Lael Brainard said on Wednesday. Brainard, speaking at a financial conference in Austria, said events like the sharp swing in U.S. bond prices last October and earlier this year in the market for German bonds added to anecdotal evidence that markets for the world's safest assets are less deep and less liquid than they had been. If true, she said, that could cause trouble in times of financial stress if investors cannot freely buy and sell safe haven bonds at other than fire-sale prices.

Fed's Brainard says Fed examining possible drop in market liquidity source: http://finance.yahoo.com/news/feds-brainard-says-fed-examining-130604083.html

Bush likely earned less, paid higher tax rate than Clintons

In the first presidential race since Democrats cast the GOP nominee as an out-of-touch millionaire, Republican Jeb Bush is aggressively trying to flip the script. Bush released three decades of federal ...

Bush likely earned less, paid higher tax rate than Clintons source: http://finance.yahoo.com/news/bush-likely-earned-less-paid-122824655.html

Survey: US businesses step up hiring in June to 237,000

U.S. businesses added jobs at a robust pace in June, a private survey found, evidence that rising consumer spending and a healthy housing market are supporting more hiring. Payroll processor ADP said Wednesday ...

Survey: US businesses step up hiring in June to 237,000 source: http://finance.yahoo.com/news/survey-us-businesses-step-hiring-123403139.html

Special Report: How Greece went bust

The Greek Prime Minister Alexis Tsipras sat on one side, along with a translator and Angela Merkel, the German chancellor. In this modest Brussels setting last Friday morning, key players in the great Greek debt drama tried to avert a meltdown that could threaten the future of the euro and even the European Union (EU). Merkel and Hollande made a final offer of billions of euros in aid for bankrupt Greece – if Tsipras would sign up to economic reforms demanded by his country's creditors.

Special Report: How Greece went bust source: http://finance.yahoo.com/news/special-report-greece-went-bust-125035665.html

Red-hot fuel demand can't shore up the oil price alone

Sales of transport fuels have exceeded all expectations this year, making demand from reviving economies the mantra of bulls who say the oil price is well on the mend. Growing stocks, and early stress signals for some oil products, such as diesel, are throwing a cautionary signal to those who believe the shale oil-driven glut in physical crude markets will be absorbed by demand alone. Gasoline consumption has bounced far higher, with U.S. drivers joining those in India, Indonesia and China in driving more often, and in some cases in less fuel efficient cars.

Red-hot fuel demand can't shore up the oil price alone source: http://finance.yahoo.com/news/red-hot-fuel-demand-cant-125418483.html

At halftime, the 2015 stock market is still up for grabs

With one half of play in the books, the bulls and bears have played to a scoreless tie.

At halftime, the 2015 stock market is still up for grabs source: http://finance.yahoo.com/news/2015-u-s--market-half-time-report-114034393.html

Fiat Chrysler U.S. sales rise 8 percent on strong Jeep sales

Fiat Chrysler Automobiles (FCAU.N)(FCHA.MI) U.S. June auto sales rose 8 percent from a year ago, boosted by the continued strength of its Jeep SUV brand. Sales of Fiat Chrysler's Jeep brand jumped 25 percent in June, led by a 39 percent surge in mid-sized Cherokee sales, the company said on Wednesday. Chrysler 200 sedan sales rose 153 percent to 18,560 vehicles.

Fiat Chrysler U.S. sales rise 8 percent on strong Jeep sales source: http://finance.yahoo.com/news/fiat-chrysler-u-sales-rise-123419813.html

Live: Greece's white flag; Insurance mega merger; New Balance's new groove

Join Market Movers live now for the latest premarket headlines.

Live: Greece's white flag; Insurance mega merger; New Balance's new groove source: http://finance.yahoo.com/news/greece-s-white-flag--insurance-mega-merger--new-balance-s-new-groove-121449446.html

Ace buying Chubb in cash-and-stock deal valued at $28.3B

Insurer Ace is buying The Chubb Corp. in a cash-and-stock deal valued at about $28.3 billion that will boost its international presence. Chubb shareholders will receive $62.93 per share in cash and 0.6019 ...

Ace buying Chubb in cash-and-stock deal valued at $28.3B source: http://finance.yahoo.com/news/ace-buying-chubb-cash-stock-113706508.html

U.S. private sector adds 237,000 jobs in June: ADP

U.S. private employers added 237,000 jobs in June, the biggest gain since December, suggesting further improvement in the jobs market which may allow the Federal Reserve to raise interest rates later this year, a report by a payrolls processor showed on Wednesday. Economists surveyed by Reuters had forecast the ADP NationalEmployment Report would show a gain of 218,000 jobs. The ADP figures come ahead of the U.S. Labor Department's more comprehensive non-farm payrolls report on Thursday, which includes both public and private-sector employment.

U.S. private sector adds 237,000 jobs in June: ADP source: http://finance.yahoo.com/news/u-private-sector-adds-237-122519478.html

General Mills profit halves due to $260 million impairment charge

An assessment of its Green Giant brand showed the business's market value was now lower than its carrying value, the company said in a statement on Wednesday. General Mills has put up Green Giant for sale, people familiar with the matter told Reuters in March. General Mills' revenue in the quarter missed analysts' average expectations, mainly due to a strong dollar, but cost cuts helped profit beat estimates in the quarter.

General Mills profit halves due to $260 million impairment charge source: http://finance.yahoo.com/news/general-mills-profit-halves-due-120241664.html

Credit Suisse needs discipline, strong balance sheet: new CEO

ZURICH/BRUSSELS (Reuters) - Credit Suisse's (CSGN.VX) new chief executive told staff in a memo on Wednesday that the Swiss bank needs a strong balance sheet to help it through rough times and the discipline to decide where it wants to invest. Tidjane Thiam, 52, started work as CEO of Credit Suisse on Wednesday and investors are optimistic he can bring about a major change of strategy at the bank, though many also expect him to tap the market for cash. "We will need a strong balance sheet that allows us to withstand adversity, while continuing to invest in the future," Thiam says in the memo, a copy of which was obtained by Reuters.

Credit Suisse needs discipline, strong balance sheet: new CEO source: http://finance.yahoo.com/news/credit-suisse-needs-discipline-strong-121021258.html

Greece makes concession but no deal seen before Sunday vote

Greece's government has made new concessions in talks with its creditors, though some European officials said they were still not good enough and that a deal was nevertheless impossible before a Greek referendum on Sunday.

Greece makes concession but no deal seen before Sunday vote source: http://finance.yahoo.com/news/greece-makes-concession-no-deal-111957547.html

Futures rise as Greece makes new bid for bailout deal

U.S. futures rose on Wednesday after Greek Prime Minister Alexis Tsipras signaled he was prepared to accept most of creditors' bailout terms with some modifications. * Greece on Tuesday defaulted on a ...

Futures rise as Greece makes new bid for bailout deal source: http://finance.yahoo.com/news/futures-rise-greece-makes-bid-113710973.html

Tsipras offers conditional okay to bailout, creditors sceptical

Greek Prime Minister Alexis Tsipras has written to international creditors saying Greece could accept a bailout offer published on June 28 if several conditions were changed, but Germany said the letter had come too late and did not go far enough.

Tsipras offers conditional okay to bailout, creditors sceptical source: http://finance.yahoo.com/news/greek-pm-willing-accept-creditors-101259107.html

The euro is only headed down: Goldman

Amid Greece's Sisyphean drama, the euro has been like a brick -- you can throw it, just not very far. But that's only temporary, Goldman Sachs says, sticking with its call for near-parity with the dollar.

The euro is only headed down: Goldman source: http://finance.yahoo.com/news/euro-only-headed-down-goldman-072354201.html

Toyota's top female executive resigns after arrest in Japan

Julie Hamp, Toyota's most senior female executive, has resigned following her arrest in Japan on suspicion of drug law violations, the automaker said Wednesday. Hamp tendered her resignation through her ...

Toyota's top female executive resigns after arrest in Japan source: http://finance.yahoo.com/news/toyotas-top-female-executive-resigns-092747465.html

Street sees S&P 500 scaling wall it hit in year's first half

One solace for bulls after the worst first half for U.S. stocks in five years: every strategist on Wall Street sees the Standard & Poor’s 500 Index rising. Prospects for higher interest rates and Greece’s travails have frozen a market that rose 47 percent between 2011 and 2013. Professional stock forecasters remain bullish, saying the economy is too strong for the second-longest U.S. rally since 1950 to end now.

Street sees S&P 500 scaling wall it hit in year's first half source: http://finance.yahoo.com/news/street-sees-p-500-scaling-040001218.html

Average Manhattan apartment approaches $2 million frontier

Manhattan apartment prices jumped to a record in the second quarter, pushed up by competition for a limited number of properties and strength in the luxury market. Resale apartments and units in new developments each set their own price records amid interest from both investors and buyers who intend to live in the homes. “Demand is being driven by a vibrant local economy and rising employment, and supply is relatively inelastic,” Jonathan Miller, president of New York-based Miller Samuel and a Bloomberg View contributor, said in an interview.

Average Manhattan apartment approaches $2 million frontier source: http://finance.yahoo.com/news/average-manhattan-apartment-approaches-2-040100921.html

U.K. Manufacturing Grows at Slowest Pace in Over Two Years

U.K. manufacturing growth unexpectedly slowed last month, posting its weakest performance in more than two years as demand in Europe faltered. A Purchasing Managers’ Index dropped to 51.4 from 51.9 in ...

U.K. Manufacturing Grows at Slowest Pace in Over Two Years source: http://finance.yahoo.com/news/u-k-manufacturing-grows-slowest-083000023.html

China and Japan show hints of healing, rest of Asia still struggling

Growth in China's services sector picked up in June while big Japanese companies planned to ramp up spending at the fastest pace in a decade, offering hope that prospects are improving for Asia's largest economies despite sluggish factory growth. Wednesday's data fueled expectations that the wobbly global economy may start leveling out in the second half of the year, but the outlook remains murky, with fears that Greece's debt crisis could splinter the euro zone and worries about whether China can avoid a stock market crash keeping investors on edge. Activity in China's factory sector expanded slightly in June though not as much as expected, official surveys showed, suggesting the economy may be starting to slowly level out after a raft of support measures including interest rate cuts and more infrastructure spending.

China and Japan show hints of healing, rest of Asia still struggling source: http://finance.yahoo.com/news/china-japan-show-hints-healing-061606221.html

JPMorgan builds up apartment-loan leader from WaMu rubble

In September 2008, JPMorgan Chase & Co executives sifted through the rubble of Washington Mutual, the failed home loan bank that they had just won in a U.S. government auction. "It was an unexpected bonus," JPMorgan Chief Executive Jamie Dimon told Reuters in an interview, adding that the apartment lending business is the single most valuable asset that JPMorgan acquired in the auction. Washington Mutual's apartment lending business was the biggest of its kind in the United States and Dimon has made it even bigger.

JPMorgan builds up apartment-loan leader from WaMu rubble source: http://finance.yahoo.com/news/jpmorgan-builds-apartment-loan-leader-050419378.html

Petrobras history of failed plans raises doubt over new promises

Brazilian state-run oil company Petroleo Brasileiro SA's long history of failed spending and output plans may be the biggest obstacle to its efforts to convince investors it will reduce its massive debt. The company's $90 billion cut on Monday from planned investment over five years and 30 percent reduction to its 2020 oil and natural gas output forecast mark the first major retrenchment by Petrobras, as it is known, since the discovery of giant offshore oil reserves south of Rio de Janeiro was announced in late 2007. Petrobras, though, has not met an annual production target since 2003 when the Workers' Party government of Brazilian President Dilma Rousseff and her predecessor Luiz Inacio Lula da Silva took power.

Petrobras history of failed plans raises doubt over new promises source: http://finance.yahoo.com/news/petrobras-history-failed-plans-raises-050908717.html

Greece defaults on IMF payment despite last-minute overtures to creditors

Greece's last-minute overtures to international creditors for financial aid on Tuesday were not enough to save the country from becoming the first developed economy to default on a loan with the International Monetary Fund.

Greece defaults on IMF payment despite last-minute overtures to creditors source: http://finance.yahoo.com/news/greece-defaults-imf-payment-despite-013243561.html

Asia steadies, euro bears Greek burden

Calming after two days of wild swings, MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1 percent. Japan's Nikkei (.N225) firmed 0.2 percent, a second day of small gains as it stabilizes after Monday's steep fall. There was unexpectedly upbeat news from the Bank of Japan's latest survey of manufacturers which improved in the three months to June, supporting the bank's view that growth is gathering momentum.

Asia steadies, euro bears Greek burden source: http://finance.yahoo.com/news/asia-steadies-euro-bears-greek-010242891.html

Cramer: Vicious IPOs poisonous to your portfolio

Jim Cramer has seen a massive number of IPOs this month. Could these stocks be toxic to your portfolio?

Cramer: Vicious IPOs poisonous to your portfolio source: http://finance.yahoo.com/news/cramer-vicious-ipos-poisonous-portfolio-224258400.html

Euro burdened by Greece, uncertainty high

The euro remained on the defensive in Asia on Wednesday as Greece became the first developed economy to default on a loan with the IMF, setting the scene for another day of uneasy action in markets. Still, ...

Euro burdened by Greece, uncertainty high source: http://finance.yahoo.com/news/euro-burdened-greece-uncertainty-high-234216009.html

Greece misses $1.7 billion IMF loan repayment as crisis intensifies

Greece late Tuesday officially missed a roughly $1.7 billion loan repayment due to the International Monetary Fund -- a first for an advanced economy.

Greece misses $1.7 billion IMF loan repayment as crisis intensifies source: http://finance.yahoo.com/news/anti-austerity-protests-greece-bank-054624449.html

Greece misses $1.7 billion IMF loan repayment as crisis intensifies

Greece late Tuesday officially missed a roughly $1.7 billion loan repayment due to the International Monetary Fund -- a first for an advanced economy.

Greece misses $1.7 billion IMF loan repayment as crisis intensifies source: http://finance.yahoo.com/news/greece-becomes-first-advanced-economy-221834654.html

Nike Chairman Phil Knight to step down in 2016

(Reuters) - Nike Inc (NKE.N), the world's largest sports shoe company, said Chairman and co-founder Phil Knight would step down next year. Knight recommended that Chief Executive Mark Parker succeeds him ...

Nike Chairman Phil Knight to step down in 2016 source: http://finance.yahoo.com/news/nike-outlines-chairman-knights-succession-211944107.html

Here's why the Fed needs to hike rates: Gross

Bill Gross believes the Federal Reserve will raise interest rates once this year-but only because it needs to prove that it can.

Here's why the Fed needs to hike rates: Gross source: http://finance.yahoo.com/news/heres-why-fed-needs-hike-190210395.html

GE Capital CEO sees asset sale pace speeding up in third quarter

"We’re going to pick up the pace in the third quarter," GE Capital Chief Executive Keith Sherin told Reuters in an interview. GE, which is shedding $200 billion in finance assets to focus on industrial manufacturing, earlier on Tuesday announced the $2.2 billion sale of its European private equity financing business to Japan's Sumitomo Mitsui Banking Corp. A day earlier, GE said it had agreements to shed its fleet management arm. Analysts have said the finance asset sales have garnered high deal prices so far, but it remains to be seen if future sales will realize the same value and allow GE to reap more than the $35 billion in proceeds it has targeted for share buybacks.

GE Capital CEO sees asset sale pace speeding up in third quarter source: http://finance.yahoo.com/news/ge-capital-ceo-sees-asset-162954911.html

Virgin Atlantic to cut 500 jobs: WSJ report

Virgin Atlantic Airways Ltd , owned by its British billionaire founder Richard Branson, is cutting about 500 jobs as it seeks to reduce costs and improve its financial resilience, the Wall Street ...

Virgin Atlantic to cut 500 jobs: WSJ report source: http://finance.yahoo.com/news/virgin-atlantic-cut-500-jobs-205444454.html

Ex-BP engineer deserves new Gulf spill trial: U.S. appeals court

The 5th U.S. Circuit Court of Appeals in New Orleans agreed with a lower court judge's decision last June to throw out the defendant Kurt Mix's December 2013 conviction. U.S. District Judge Stanwood Duval acted after learning that the jury forewoman admitted to having heard in a courthouse elevator that other BP employees were being prosecuted over the spill, and told her deadlocked fellow jurors that this made her more confident that Mix was guilty. Tuesday's decision is a setback for the U.S. Department of Justice's effort to hold individuals criminally liable for the April 20, 2010 explosion of the Deepwater Horizon drilling rig and its aftermath.

Ex-BP engineer deserves new Gulf spill trial: U.S. appeals court source: http://finance.yahoo.com/news/ex-bp-engineer-deserves-gulf-201844459.html

S&P 500 barely budged in worst first half since 2010

The S&P 500 capped the first six months of the year up just 0.2%, the worst first-half performance for the broad-market indicator since 2010.

S&P 500 barely budged in worst first half since 2010 source: http://finance.yahoo.com/news/u-index-futures-signal-equities-091839232.html

Stocks rise in choppy action as Greece fears cool

U.S. stocks held in a narrow range, attempting recovery from the worst trading day of the year, as the deadline for Greece repayment approached.

Stocks rise in choppy action as Greece fears cool source: http://finance.yahoo.com/news/stocks-higher-amid-greece-talks-174100268.html

Greece says euro zone finance ministers to reconvene Wednesday

ATHENS (Reuters) - Euro zone finance ministers are expected to reconvene on Wednesday morning to discuss the Greek government's latest proposals to creditors on reforms, Greek officials said on Tuesday. ...

Greece says euro zone finance ministers to reconvene Wednesday source: http://finance.yahoo.com/news/greece-says-euro-zone-finance-184253268.html

Economy nearing full employment, bounced back in second quarter: Fed's Fischer

The U.S. economy probably bounced back to an annual growth rate of around 2.5 percent in the second quarter, and the labor market is approaching full employment, Federal Reserve vice chairman Stanley Fischer said on Tuesday.

Economy nearing full employment, bounced back in second quarter: Fed's Fischer source: http://finance.yahoo.com/news/u-economy-nearing-full-employment-181500276.html

Major Puerto Rico investor warns it stands ready to defend bonds

U.S. fund manager OppenheimerFunds, the largest holder of Puerto Rico debt among U.S. municipal bond funds, warned the island it stands ready to defend the terms of bonds it holds, a day after the governor said he wanted to restructure debt and postpone bond payments. Puerto Rico's Governor Alejandro Garcia Padilla could be heading toward a fight with creditors unwilling to take reduced payouts as he tries to restructure the island's $73 billion debt to relieve its fiscal problems. OppenheimerFunds, with about $4.5 billion exposure to Puerto Rico according to Morningstar, said it believed the island could repay bondholders while providing essential services to citizens and growing the economy.

Major Puerto Rico investor warns it stands ready to defend bonds source: http://finance.yahoo.com/news/major-puerto-rico-investor-warns-180801477.html

Goldman settles SEC charges over 2013 trading incident

The SEC said Goldman mistakenly sent about 16,000 mispriced options orders to various exchanges. The SEC said the problem was compounded when an employee in Goldman's "Mission Control" unit, which monitored the bank's trading systems, manually lifted circuit breakers designed to block errant orders, believing he had authority and because no one objected. Goldman was charged with violating the SEC's "market access" rule, which requires brokerages that provide customers with direct market access to have reasonable risk and supervisory controls designed to prevent disruptions.

Goldman settles SEC charges over 2013 trading incident source: http://finance.yahoo.com/news/goldman-settles-sec-charges-over-182809835.html

New Volkswagen brand boss faces challenge of taming Wolfsburg's high costs

BERLIN/FRANKFURT (Reuters) - When Herbert Diess takes over on Wednesday as head of Volkswagen's (VOWG_p.DE) namesake car brand, he will inherit one of the group's biggest problems: how to slash costs at the sprawling Wolfsburg complex. Diess summarized his views on Wolfsburg in a scathing internal report, telling superiors the plant's workforce of 50,000 is bloated with staff whose services are no longer needed but who haven't been fired, a BMW source said. The report was used by former VW Chairman Ferdinand Piech in his attack on the company's Chief Executive Martin Winterkorn this spring, the source added.

New Volkswagen brand boss faces challenge of taming Wolfsburg's high costs source: http://finance.yahoo.com/news/volkswagen-brand-boss-faces-challenge-174453854.html

Here’s where Chris Christie gets his campaign money

If his rich friends stick with him, Christie could be a powerful candidate.

Here’s where Chris Christie gets his campaign money source: http://finance.yahoo.com/news/here-s-where-chris-christie-gets-his-campaign-money-151317799.html

Uber's probably losing lots of money and that's fine

A leaked fundraising document hints that Uber's losses exceed its revenue, a perfectly okay state of affairs for a start-up trying to conquer a huge, new market.

Uber's probably losing lots of money and that's fine source: http://finance.yahoo.com/news/uber-s-probably-losing-lots-of-money-and-that-s-fine-152509813.html

China orders dozens of Airbus A3330 jets

China placed an order on Tuesday for dozens of Airbus (AIR.PA) A330 jets during a visit by Chinese Prime Minister Li Keqiang to France. Sources familiar with the discussions had told Reuters last week that China may purchase between 50-70 of the wide-body jets as part of a deal under which Airbus is expected to open a new industrial plant in the world's fastest-growing aviation market.

China orders dozens of Airbus A3330 jets source: http://finance.yahoo.com/news/china-orders-dozens-airbus-a3330-165123758.html

Greece in last-minute rescue appeal as default looms

The zero-hour appeal came amid a flurry of actions aimed at preventing a chaotic eurozone exit which could have untold repercussions on international markets and the European Union. The Greek premier's office said Athens has requested an agreement with the European Stability Mechanism "to fully cover its financing needs and the simultaneous restructuring of debt". Athens's proposal followed European Commission chief Jean-Claude Juncker's attempt to clinch a "last-minute" solution before the referendum.

Greece in last-minute rescue appeal as default looms source: http://finance.yahoo.com/news/greece-proposes-two-rescue-deal-eu-135337521.html

Emerson Electric to spin off network power business

The network power business, which makes power systems that help keep telecommunication systems, data networks and other critical business applications operating continuously, accounted for about 20 percent of total sales in 2014. Sales at the network power unit fell 18 percent in 2014 and 9 percent in the second quarter ended March 31, as global telecommunications companies cut spending.

Emerson Electric to spin off network power business source: http://finance.yahoo.com/news/emerson-electric-spin-off-network-160122812.html

Apple Music arrives, Obama's new overtime rules, Greek debt crowdsourcing

Yahoo Finance's Midday Movers is live each weekday at 12pm ET, covering all the latest news on the markets, the economy and the biggest stories of the day.

Apple Music arrives, Obama's new overtime rules, Greek debt crowdsourcing source: http://finance.yahoo.com/news/apple-music-arrives--obama-s-new-overtime-rules--greek-debt-crowdsourcing-145323393.html

Apple conspired to fix e-book prices - U.S. appeals court

A divided federal appeals court on Tuesday said Apple Inc orchestrated a conspiracy with five publishers to increase e-book prices, in a victory for the U.S. Justice Department. By a 2-1 vote, the 2nd U.S. Circuit Court of Appeals agreed with a lower court judge that the conspiracy violated federal antitrust law, and that the judge acted properly in imposing an injunction to prevent a recurrence. Writing for the majority, Circuit Judge Debra Ann Livingston said that by organizing the conspiracy, "Apple found an easy path to opening its iBookstore," while ensuring that marketwide prices rose to a level that Apple and the publishers wanted.

Apple conspired to fix e-book prices - U.S. appeals court source: http://finance.yahoo.com/news/apple-conspired-fix-e-book-144033147.html

Online retailer Amazon opens in Mexico

Online retail giant Amazon has opened its Mexico site for business, offering free delivery on orders of over 599 pesos ($38.25). A statement posted on the Amazon.com.mx site Tuesday said "we are launching ...

Online retailer Amazon opens in Mexico source: http://finance.yahoo.com/news/online-retailer-amazon-opens-mexico-144724035.html

"Huge uncertainties" over Greece, dollar will delay Fed rate hikes: Kotok

Fed officials keep talking about raising rates but the Greek debt drama is another mitigating factor likely to delay any move, possibly into 2016.

"Huge uncertainties" over Greece, dollar will delay Fed rate hikes: Kotok source: http://finance.yahoo.com/news/fed-greece-dollar-145800391.html

Europe lower as hopes of last-minute Greece deal raised

Greece looks set to default on a 1.6-billion-euro ($1.7 billion) debt payment due to the International Monetary Fund (IMF) later in the day.

Europe lower as hopes of last-minute Greece deal raised source: http://finance.yahoo.com/news/europe-trades-lower-hopes-last-102940589.html