'Flash crash' market manipulation case poses test for prosecutors

Charges against a high-frequency trader for helping to spark the 2010 "flash crash" present a test of U.S. prosecutors' ability to win a big market manipulation case and may make other traders nervous they may be next, lawyers said on Tuesday. The charges against Navinder Singh Sarao, 36, drew reactions of astonishment from securities lawyers interviewed by Reuters because criminal charges for market manipulation are so rare.

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At Harley and beyond, strong dollar offers competition discount edge

When iconic motorcycle maker Harley-Davidson Inc warned on Tuesday that discounting from foreign rivals would dent its profits, the message resonated beyond the motorcycle business. From cars to construction equipment, the impact of the strong dollar is a big problem for U.S. companies selling overseas. Harley's U.S. market share slipped nearly five percentage points in the first quarter to 51.3 percent as competitors offered discounts of up to $3,000 per bike and slashed suggested retail prices by up to 25 percent. Honda Motor Co Ltd and Suzuki Motor Corp both currently offer $1,000 cash back on selected models.

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Gold holds below $1,200 due to firmer dollar, equities

Gold remained below the key $1,200 level on Tuesday, adding to overnight losses, as a rally in global equities and a firmer dollar dented the metal's appeal as a safe haven. Spot gold was down 0.2 percent to $1,194 an ounce at 0657 GMT after losing 0.7 percent on Monday. "Precious markets declined, as market participants pared back safe-haven exposure in gold," said ANZ analyst Victor Thianpiriya. Athens is in negotiations with its eurozone partners and the International Monetary Fund over reforms required to unlock remaining bailout funds.

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Oil down as Saudis end Yemen bombing; traders eye crude build

Oil prices fell on Tuesday after Saudi Arabia announced the end of its military campaign in Yemen, easing tensions in the Middle East, and traders expected another weekly build in U.S. crude stockpiles. The Saudi-led coalition bombing Yemen said its three-week operation against Iran-allied Houthi rebels was over and it would focus now on security, counterterrorism, aid and a political solution for Yemen. "The market's gone up quite a bit lately and was due for a correction, so the Saudi announcement was a step in the right direction in the sense that it diffuses some of the tensions in the Middle East," said Joseph Posillico, senior vice president of energy futures at Jefferies in New York. On the stockpiles side, a Reuters survey showed that U.S. crude inventories likely rose for the 15th straight week, adding nearly 3 million barrels last week.

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Wall Street's two major indexes drop; oil falls

Major U.S. stock indexes lost ground on lacklustre earnings reports on Tuesday, while oil fell on concerns about U.S. crude stockpiles and Saudi Arabia's announcement that it ended its military campaign in Yemen. The Nasdaq composite index (.IXIC) was the brightest spot in U.S. stock markets. Teva Pharmaceutical Industries Ltd. (TEVA.N) made an unsolicited bid to buy smaller rival Mylan NV (MYL.O), sending the Nasdaq Biotechnology (.NBI) index up 1.8 percent.

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Japan shares climb to fresh multi-year highs

Japan's benchmark stock-market index was poised to close at its highest level since April 2000, while oil prices fell amid fears over an ongoing U.S. supply glut.

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Oil prices drop as Middle East tension ease

Oil prices extended declines on Wednesday as Middle East tension eased after Saudi Arabia ended a military campaign in Yemen, while industry data showed that a larger-than-expected build in U.S. oil inventories. Saudi Arabia announced on Tuesday it was ending a month-long campaign of air strikes against the Houthi rebels who seized large areas of Yemen, easing geopolitical tension in the key oil producing region. Oil prices have risen nearly $10 a barrel so far this month, on tension in the Middle East and concerns over slowing output growth in the United States. "We will probably see one more dip in the second quarter but prices probably won't go below this year's lows," Ian Taylor, head of the world's largest oil trader, Vitol (VITOLV.UL), said.

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Japan stocks hit 15-year high, oil down as Yemen bombing ends

Japanese shares hit a new 15-year high on Wednesday on expectations of positive corporate earnings, while oil sagged after Saudi Arabia ended its military campaign in Yemen, easing tensions in the energy-rich Middle East. Japan's Nikkei rose 0.7 percent to a high not seen since April 2000. South Korea's Kospi gained 0.4 percent, while Australian shares slipped. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2 percent after rising 0.8 percent the previous day.

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Iran wants OPEC to pave way for its extra oil production when sanctions lifted

Members of the Organization of the Petroleum Exporting Countries (OPEC) should prepare for extra Iranian crude production when Western sanctions on Tehran are lifted, Iran's oil minister was quoted on Tuesday by state news agency IRNA as saying. "We expect the members of OPEC to pave the ground for (an) increase of Iran's oil production that will reach global markets when sanctions are lifted," Bijan Namdar Zanganeh said during a meeting with his Venezuelan counterpart Asdrubal Chavez in Tehran, the agency reported.

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BP CEO: Oil prices will stay 'lower for longer'

BP CEO Bob Dudley said oil companies need to adjust to new realities, including a cheap crude environment and tougher regulations.

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Hewlett-Packard to Sell Snapfish Operation to District Photo

Hewlett-Packard Co. said it would sell its Snapfish photo-sharing site to District Photo, part of the computer maker’s plan to refocus operations as it splits in two. Snapfish works with retailers to help consumers store, share and print photos online. District Photo, which is based in Beltsville, Maryland, handles digital printing for business and other customers. Meg Whitman, Hewlett-Packard’s chief executive officer, told shareholders last month that the Palo Alto, California-based company was on track to divide around Nov. 1 to become more responsive to corporate customers.

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Yahoo's profit, revenue miss Street forecasts as costs rise

Investors have been urging Mayer to cash in the stake, after Yahoo announced plans to spin off its position in Chinese internet retailer Alibaba Group Holding. The moves follow unsuccessful efforts by Mayer to revive meaningful revenue growth with a string of acquisitions and product revamps. For the first quarter, Yahoo said display advertising revenue rose 2.3 percent to $463.7 million, accounting for roughly 40 percent of its total revenue. Search business revenue was up 19.5 percent year-on-year to $531.7 million.

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Biotech buyout? Teva's $40 billion bid

Teva is offering $40 billion to buy Mylan. Barbara Ryan, Clemont Partners, and CNBC's Meg Tirrell, provide perspective on the potential consolidation.

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KFC parent Yum reveals Q1 profit beat, shares climb

The Louisville, Kentucky-based company said it had profit of 81 cents per share. Earnings, adjusted for non-recurring gains, came to 80 cents per share. The results exceeded Wall Street expectations. The ...

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Yum's China restaurant sales drop less than expected

Same-restaurant sales in China, Yum's No. 1 market for revenue and profit, declined 12 percent for the latest quarter on continued fallout from allegations that a former supplier used expired meat. Analysts polled by Consensus Metrix had expected a drop of 14.4 percent. Yum China's same-restaurant sales fell 16 percent for the fourth quarter and were down 14 percent in the third quarter.

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Yahoo Q1 results miss expectations on both lines

Yahoo logged first-quarter profits and sales Tuesday that fell short of analysts' expectations.

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Yahoo's quarterly revenue drops 4 percent

Yahoo Inc's first-quarter revenue fell 4 percent as the internet company struggles to rev up its core online advertising business. Net income attributable to Yahoo fell to $21.2 million, or 2 cents per ...

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Study links swarm of quakes in Texas to natural gas drilling

With real-time monitors, scientists have linked a swarm of small earthquakes west of Fort Worth, Texas, to nearby natural gas wells and wastewater injection. In 84 days from November 2013 to January 2014, ...

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U.K. trader charged with role in sparking 2010 U.S. 'flash crash'

A high-frequency trader in the United Kingdom has been criminally charged with manipulating the futures market and helping spark the infamous May 2010 "flash crash," the Justice Department said. Navinder Singh Sarao, 37, of Hounslow, United Kingdom, was arrested on Tuesday in the United Kingdom on charges of wire fraud, commodities fraud and manipulation.

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Ferrero facing no succession problem, not interested in selling

Italian confectionery group Ferrero is facing no succession problem after the death of its owner, Michele Ferrero, and the family owners of the Nutella empire are not interested in selling, Chairman Francesco ...

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HBO gets serious about Game of Thrones piracy

Here's why one small Williamsburg bar is getting in trouble for showing Game of Thrones.

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Despite MS blowout; small banks may outperform

For years, investors have wondered if banks would ever again execute at pre-crisis levels. They got their answer with Morgan Stanley earnings, released earlier this week.

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Wrong to help Iran but not US oil producers: Hamm

There's "something wrong" with considering lifting oil sanctions on Iran, but not the U.S. ban on exporting domestic crude, oilman Harold Hamm says.

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Amazon’s new travel service enters lucrative online travel market

Hotels may offer rooms through Amazon Destinations in specific niches.

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These Charts Will Tell You Where the Housing Market Is Headed This Year

The Federal Reserve is preparing to raise its benchmark interest rate for the first time since 2006. Because policy makers have signaled they will raise their key rate slowly and incrementally, potential buyers are less likely to rush into the market ahead of the first rate hike, said Columbus, Ohio-based Nationwide Insurance Chief Economist David Berson. Besides, mortgage rates, while no longer at a record low, are still half their historical average in Freddie Mac data back to April 1971. Here are a few things analysts say we should be watching instead to determine how the housing market will perform this year.   1.

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As the Ruble Recovers, Putin Spins Economic Cheer

In one of his semi-annual choreographed question-and–answer sessions with the Russian people last week, President Vladimir Putin exuded confidence about the future of the Russian economy. The dramatic drop in oil prices over the past year and the plunging value of the ruble combined with international sanctions imposed after Russia’s invasion of Ukraine’s Crimean peninsula last year might look like a disaster, he said, but they will ultimately drive Russia to new economic heights. Also promising was the continued growth in the Russian ruble’s value against global benchmark currencies. All that said, the state of the Russian economy might best be compared to a patient who has been removed from the intensive care unit, but remains in critical condition, as more recent news revealed this week demonstrated.

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Banks' first-quarter trading revenue prompts cautious optimism

Earnings so far from the five leading U.S. banks and Credit Suisse in Europe show that revenue from fixed income, currencies and commodities (FICC) almost doubled from the previous quarter to $17.1 billion. Quarter-on-quarter improvement was to be expected, given that the first three months of the year are typically the strongest for investment banks as cash is put to work. Total revenue at the U.S. quintet and Credit Suisse from FICC, equities and investment banking fees was $34.98 billion, up a modest 5.9 percent from the same period last year, according to Christopher Wheeler, U.S. banks analyst at Atlantic Equities.

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Facebook, McDonald's and Google ready reports, China developer defaults

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.

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U.S. top court allows antitrust claims over natural gas prices

The U.S. Supreme Court on Tuesday ruled that a federal law governing the natural gas market does not shield energy companies from state antitrust claims made over the western U.S. energy crisis between 2000 and 2002. The ruling, on a 7-2 vote, was a loss for several energy companies, including American Electric Power Company Inc, Dynegy Inc and ONEOK Inc, which were accused of manipulating published price indexes that led to a spike in gas prices.

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Earnings lift stocks but Greek anxiety hits euro

Global stock markets rose on Tuesday, helped by upbeat European earnings and U.S. earnings that were not as bad as feared, but the euro fell on worries about possible Greek loan defaults. In Europe, Publicis (PUBP.PA), Sky (SKYB.L) and ARM Holdings (ARM.L) all rose more than 4 percent after reporting results, with the overall picture of a weaker euro and improving economic conditions driven by the European Central Bank's (ECB) bond-buying program drawing investment into equities. In the United States, Dow components Verizon (VZ.N), DuPont (DD.N) and United Technologies (UTX.N) beat expectations even as the strong dollar weighed on DuPont and UTX. The euro was down 0.45 percent at $1.0688 (EUR=) as Greece remained on investors' radar amid media reports that the ECB was considering upping the haircuts it applies to Greek assets used as collateral for its cheap funding.

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Horses vs. unicorns: Public companies at big disadvantage to hot startups

After an IPO, companies in fast-growing industries find it tough to compete with flush private competitors with huge valuations.

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U.S., UK aim for Deutsche Bank Libor settlement on Thursday: sources

U.S. and UK officials are preparing to announce a settlement with Deutsche Bank as soon as Thursday over allegations that it tried to rig benchmark interest rates like Libor, two sources with knowledge ...

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Burritos rise again as Taco Bell returns to Japan

Around 150 people waited in a line stretching out to the main street of Tokyo's busy Shibuya shopping district, with some said to have camped overnight to be the first to eat tacos. Taco Bell said it was making its second attempt to conquer the Japanese market as Mexican food was becoming increasingly popular among the younger Japanese. "Shibuya has so much energy, it's very youthful, and you know our brand is a very youthful brand," Melissa Lora, president of Taco Bell International, said. At 320 yen($2.67) for a taco and 500 yen ($4.2) for a burrito, prices are slightly higher than in the United States but in line with other fast-food menu prices in Japan.

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Hewlett-Packard to Sell Snapfish Operation to District Photo

Hewlett-Packard Co. said it would sell its Snapfish photo-sharing site to District Photo, part of the computer maker’s plan to refocus operations as it splits in two. Snapfish works with retailers to help consumers store, share and print photos online. District Photo, which is based in Beltsville, Maryland, handles digital printing for business and other customers. Meg Whitman, Hewlett-Packard’s chief executive officer, told shareholders last month that the Palo Alto, California-based company was on track to divide around Nov. 1 to become more responsive to corporate customers.

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White House adviser says 'Grexit' carries major risks

A Greek exit from the euro zone would carry significant risks for the global economy and no one should be under the impression that financial markets have fully priced in such an event, the chairman of the White House Council of Economic Advisers said. The comments by Jason Furman in an interview with Reuters in Berlin are among the strongest by a senior U.S. official and are at odds with those of German Finance Minister Wolfgang Schaeuble, who told an audience in New York last week that contagion risks from a so-called "Grexit" were limited. "A Greek exit would not just be bad for the Greek economy, it would be taking a very large and unnecessary risk with the global economy just when a lot of things are starting to go right," Furman said. Growing concerns that Greece could run out of cash, default on its debt and eventually leave the single currency bloc have hit Greek markets and weighed on the euro.

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New York won't settle with Barclays soon over forex algorithms

"There are two options: You can do a settlement in May with a carveout, or you can do a settlement later without a carveout," Benjamin Lawsky, superintendent of New York's Department of Financial Services said. Barclays is among a handful of banks expected to come to terms in the coming weeks with the U.S. Department of Justice and other authorities over the manipulation of foreign exchange rates.

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U.S. regulator wants better deposit data from big banks

The largest U.S. and foreign banks would need to keep track of deposits better under a plan launched by the Federal Deposit Insurance Corporation on Tuesday, as many lenders have grown and become more complex. It said the FDIC "has often found inconsistent and missing data" in the current records, which the banks need to provide because of an earlier rule that was issued in 2008. The FDIC's role is to step in when a bank is in trouble and it then has to decide rapidly which clients get their money back because they fall under the deposit guarantee scheme, a crucial measure to retain trust in the system. Smaller community banks, which have garnered substantial support in Congress, were exempt from the rule.

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Global stocks may not be the bargain they appear

American stocks currently look expensive. But those who attempt to find value by tapping into Europe and Japan may be getting an even worse deal.

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Wary of brinkmanship, euro zone won't set more deadlines for Greece: official

Euro zone finance ministers will not be setting any deadlines for Greece because they lead to brinkmanship in negotiations on what reforms Athens needs to do in exchange for more funding, a senior euro zone official said on Tuesday. Greece, which is quickly running out of cash, and the euro zone agreed in February that by the end of April Athens would agree with its euro zone creditors on a comprehensive list of reforms to get 7.2 billion euros remaining from its bailout. Euro zone officials had expected the list to be presented to euro zone finance ministers this Friday in Riga.

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Bove: The Fed won't dare hike rates this year

Expectations that the Fed will raise rates in September or even June are off the mark, says top bank analyst Dick Bove.

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Facebook, Google bulls getting reason to run?

This week, 19 information technology companies from the S&P 500 will release results. Two of the most closely watched this earnings season will be Facebook and Google.

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Teva offers to buy Mylan in $40.1B cash-and-stock deal

Teva has offered to buy Mylan in a cash-and-stock deal valued at about $40.1 billion. The potential combination would result in a powerhouse of a generic drug developer competing against rivals such as ...

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Time to get out of US stocks: Mobius

Investors should rotate out of the U.S. markets into better-performing emerging markets, says veteran investor Mark Mobius, warning that corporate earnings in the world's number one economy are poised to disappoint.

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Greek municipalities outraged by state move to use funds

Authorities from municipalities across Greece will hold an emergency meeting Tuesday after the government ordered reserves from state enterprises to be placed in a common account to help the country meet ...

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Earnings beats lift Wall St. at open

U.S. stock opened higher on Tuesday as a spate of companies beat lowered expectations, helping to ease fears of a disappointing earnings quarter. The Dow Jones industrial average rose 63.43 points, or ...

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Generic drugmaker Teva makes $40 billion offer for rival Mylan

TEL AVIV/NEW YORK (Reuters) - Generic drugmaker Teva Pharmaceutical Industries Ltd. on Tuesday proposed buying smaller rival Mylan for $40 billion, saying it was a better deal than Mylan's alternate offer to buy Perrigo Co. The offer comes after weeks of speculation that Teva, the world's largest generic company, would make a bid for Mylan. Teva said the stock-and-cash offer of $82 a share represented a 48 percent premium to Mylan's stock price on March 10, which it said was the last day of trading prior to the widespread speculation. Shares of Mylan were up 8.8 percent at $74 in early trading.

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Lockheed Martin profit falls 6 pct on fewer jet deliveries

Lockheed Martin Corp , the Pentagon's No. 1 weapons supplier, reported a 6 percent fall in quarterly profit, partly due to fewer aircraft deliveries. Weapons makers, including Lockheed and Raytheon Co ...

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BlackBerry to buy WatchDox to bolster data security

BlackBerry Ltd (BBRY.O) (BB.TO) said on Tuesday it is acquiring privately-held U.S. tech company WatchDox, which makes software that secures files, in a bid to further bolster its security credentials. The WatchDox software, which is being used by some of the world's largest federal agencies, private equity firms, and a slew of major Hollywood studios, gives clients full visibility and control over how their files are edited, copied, printed or forwarded. Earlier this year, BlackBerry Chief Executive John Chen said he saw a part of the company's targeted software revenue growth in the current fiscal year coming from acquisitions of companies that will allow it to sell more value-added services. Waterloo, Ontario-based BlackBerry made a couple of strategic acquisitions last year that have allowed it to sell such value-added services.

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EU's Juncker wants greater Greek effort in debt talks

European Commission President Jean-Claude Juncker urged Greece on Tuesday to step up efforts to strike a deal with its international creditors, warning that talks had not reached a stage at which they could come to a quick positive end. There is urgent need for greater efforts on the Greek side to be able to conclude this matter in our mutual interests," he told reporters during a visit to Vienna.

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Safran faces AGM heat as revolt over French Florange law widens

Proxy advisory firms are threatening to block key financial resolutions at French aerospace group Safran (SAF.PA), opening a second front in a battle between the French government and institutional investors over a new corporate law. The so-called Florange law is already at the center of a fierce debate over moves to introduce double voting rights for long-term shareholders in French companies to encourage stability. Safran has been able to sidestep the row over "one share, one vote" at companies such as Renault (RENA.PA) because it already has a system of double-voting for long-term investors that operates smoothly. Proxies representing big investors say they will vote against resolutions granting share issuance authority at Safran's shareholder meeting on Thursday, because they fail to suspend board powers to issue shares whenever a bid is imminent.

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Gold holds below $1,200 due to firmer dollar, equities

Gold remained below the key $1,200 level on Tuesday, adding to overnight losses, as a rally in global equities and a firmer dollar dented the metal's appeal as a safe haven. Spot gold was down 0.2 percent to $1,194 an ounce at 0657 GMT after losing 0.7 percent on Monday. "Precious markets declined, as market participants pared back safe-haven exposure in gold," said ANZ analyst Victor Thianpiriya. Athens is in negotiations with its eurozone partners and the International Monetary Fund over reforms required to unlock remaining bailout funds.

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Oil prices dip as U.S. stockpiles seen rising

Oil prices fell on Tuesday on expectations of another rise in U.S. stockpiles and as Saudi Arabia keeps output near record highs, but prices remained near a 2015 peak reached last week. Crude prices have climbed around 16 percent since the start of April due to mounting concern over conflict in Yemen, with the U.S. navy saying on Monday it had sent an aircraft carrier and a guided-missile cruiser into waters near the country. Brent crude for June delivery was down 47 cents at $62.98 a barrel by 0706 GMT (8.06 a.m. BST), after settling flat on Monday. U.S. Senator Lisa Murkowski said on Monday she would introduce legislation this year to allow U.S. crude exports, saying the Obama administration should not dare lift sanctions on Iran before scrapping the U.S. crude export ban.

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Upbeat earnings lift stocks, Greek anxiety hits euro

World stocks climbed back towards all-time highs on Tuesday as upbeat European earnings reports and expectations of a sixth straight rise in German business confidence helped offset worries about a possible Greek default. Publicis (PUBP.PA), Sky (SKYB.L), ARM Holdings (ARM.L) were all up more than 4 percent after reporting results, with the overall picture of a weaker euro and improving economic conditions - driven by the European Central Bank's bond-buying stimulus plan - drawing investment flows into equity markets. Germany's closely-watched ZEW business confidence indicator, due at 0900 GMT, was expected to confirm the brighter picture in Europe's biggest economy, with its sentiment gauge seen rising to 55.3 from 54.8 and current conditions to 56.0 from 55.1 (ECONG7). "In macro terms at least, the worst of the crisis looks like it is over for the euro zone and certainly my own 'misery indices' are looking less bad," said Neil Williams, chief economist at fund manager Hermes in London.

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ECB Is Studying Curbs on Greek Bank Support

The European Central Bank is studying measures to rein in Emergency Liquidity Assistance to Greek banks, as resistance to further aiding the country’s stricken lenders grows in the Governing Council, people with knowledge of the discussions said. ECB staff have produced a proposal to increase the haircuts banks take on the collateral they post when borrowing from the Bank of Greece, the people said, asking not to be named as the matter is private. While the measure hasn’t been formally discussed by the Governing Council, it may be considered if Greece’s leaders fail to quickly convince euro-area finance ministers they can reform their economy and secure bailout funds, one of the people said. Greek lenders are mostly locked out of regular ECB cash tenders while the country’s government, which holds talks with euro-area partners in Riga this week, tussles with its creditors over the much-needed aid payments.

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Why McDonald's is still a powerhouse, despite troubles

McDonald's sales have been sputtering for more than two years and the company seems trapped in a cycle of bad headlines that likely won't end soon. Its quarterly earnings results on Wednesday aren't expected ...

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US business group in China urges more transparency, access

The American Chamber of Commerce in China called Tuesday for more government transparency and fairness as the confidence of U.S. companies in the country's investment climate deteriorates. The chamber ...

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ECB staff have proposal to tighten Greek use of emergency funding: Bloomberg

European Central Bank staff have prepared a proposal to increase the haircut on the security that Greek banks offer in return for emergency liquidity, Bloomberg reported on Tuesday, citing people with ...

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Iran wants OPEC to pave way for its extra oil production when sanctions lifted

Members of the Organization of the Petroleum Exporting Countries (OPEC) should prepare for extra Iranian crude production when Western sanctions on Tehran are lifted, Iran's oil minister was quoted on Tuesday by state news agency IRNA as saying. "We expect the members of OPEC to pave the ground for (an) increase of Iran's oil production that will reach global markets when sanctions are lifted," Bijan Namdar Zanganeh said during a meeting with his Venezuelan counterpart Asdrubal Chavez in Tehran, the agency reported.

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Inflation goal may be too low, says Fed's Rosengren: FT

Rosengren said he wanted the Federal Open Market Committee to debate about whether the United States' inflation target of 2 per cent was too low, the FT reported. If inflation targets were set higher, it could mean a higher long-run policy rate, which would mean more room to cut interest rates before hitting the so-called "zero lower bound", Rosengren, who does not have a vote on the Fed's policy-setting committee this year, told FT.

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Morgan Stanley posts highest profit since financial crisis

The bank's trading business, like those of its main rivals, got a boost in the quarter after the Swiss central bank scrapped a cap on the franc, the European Central Bank announced its quantitative easing program and the U.S. Federal Reserve took steps toward tightening monetary policy. Morgan Stanley capped a mostly strong quarter for the big U.S. banks with its 60 percent rise in net profit, followed by Goldman Sachs Group Inc (GS.N), whose profit jumped 41 percent. Morgan Stanley is focusing less on bond markets and more on managing money for the rich as a way to free up capital and meet stricter regulatory rules imposed since the financial crisis.

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With a prince's backing, James Murdoch may soon ascend at Fox

    "James is a giant!" said Alwaleed, a Murdoch family ally and one of Fox’s top shareholders with a 6.6 percent voting stake, in an interview.     The billionaire prince's seal of approval - and increasing acceptance of James by other shareholders - may be laying the ground for Fox to give the 42-year-old day-to-day control of the company sooner rather than later.

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Boutique banks to suffer most if Comcast-Time Warner Cable deal vetoed

Boutique investment banks such as Allen & Company, Centerview Partners and Paul Taubman's PJT Partners have limited resources compared to their larger brethren, and they use them to win mandates on a few big deals. Yet it is megadeals such as the Comcast-Time Warner Cable buyout, that carry the most regulatory risk.

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Oil up on drop in U.S. crude stockpiles, Middle East tensions

Oil prices fell to under $63 a barrel on Monday after Saudi Arabian Oil Minister Ali al-Naimi said production in the world's biggest crude exporter would stay near record peaks.

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