Big U.S. banks say that a proposed Federal Reserve rule on higher capital requirements would penalize them if the dollar remains strong against the euro, as it would make their dollar-denominated assets and operations look larger relative to their European peers, the Wall Street Journal reported.
North America
Puerto Rico set for tougher debt struggle after court ruling
Hopes of an orderly resolution to Puerto Rico's debt crisis suffered a heavy blow after a court voided the island's restructuring law, raising fears it may be heading for a longer, messier debt overhaul.
GM gets 57 more claims for faulty ignition switch compensation
General Motors Co (GM.N) received another 57 claims for compensation for ignition switch defects in its cars in the past week, bringing the total to 4,237, according to the administrator of the company's compensation program.
Oil rallies for third day after OPEC sees greater crude demand
Oil jumped for a third straight session on Monday as OPEC forecast greater demand for crude this year than previously thought and projected less supply from countries outside the producer group.
Wall St. ends down on Greece, China worries
U.S. stocks fell on Monday as investors worried about Greek debt negotiations and disappointing Chinese economic data on top of uncertainty about U.S. interest rates.
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First thing every morning Bill Hickey turns on the TV to see where the U.S. dollar is trading in the hope it has lost value against the euro and other currencies.
When a series of big U.S. companies last year moved to reincorporate abroad in inversion deals, some Republican lawmakers and tax policy critics blamed the high U.S. corporate tax rate. Lowering it, they said, would keep companies from fleeing the country.
The United Steelworkers union said on Saturday the strike by U.S. refinery workers is expanding to two more plants early on Sunday due to unfair labor practices by oil companies.
Several top investors in Twenty-First Century Fox Inc are pressing for the right to swap their voting shares for ordinary shares, which are trading at an unusual premium, even though the move could hand even more control of the company to Rupert Murdoch, according to people familiar with the matter.
Oil’s dramatic price fall since mid-2014 cannot be explained by changes in production and consumption alone, with hedging and energy firms' high debt levels also playing a part, the Bank for International Settlements (BIS) said on Saturday.
A rail line in eastern Iowa reopened on Saturday following a freight train derailment that sent three cars tumbling into the Mississippi River, spilling ethanol fuel in the water, Canadian Pacific Railway (CP) said.
Harris Corp (HRS.N) will buy Exelis Inc (XLS.N) in a deal valued at about $4.75 billion, combining two big suppliers to the U.S. military at a time when the government is squeezing spending on defense.
A blowout jobs report has changed the calculus for investors for what the Federal Reserve might do in coming months, resetting expectations for how markets might behave if the U.S. economy continues to strengthen even as global growth lags.
The number of rigs drilling for oil in the United States fell by 83 this week to 1,140 - the lowest since December 2011 - a survey showed on Friday, a clear sign of the pressure that tumbling crude prices have put on oil producers.
