Ben Lichtenstein, president at TradersAudio.com, says investors should focus on "long-sided opportunities" as the U.S. equity market continues to be "on a tear to the upside".» Read More
GOODLETTSVILLE, Tenn.— Dollar General is boosting its bid for rival Family Dollar to approximately $9.1 billion and says it's now willing to more than double the number of stores it would shed to avoid trouble with regulators. The newest bid from Dollar General is worth $80 per share, up from $78.50.
WASHINGTON— The Commerce Department reports on U.S. construction spending in July. The report will be issued Tuesday at 10 a.m. Eastern. It was the biggest one-month decline in more than three years, since a 2.8 percent fall in January 2011.
WASHINGTON— The Institute for Supply Management reports on U.S. manufacturing, orders and other activity in August. The ISM, a trade group of purchasing managers, will release its manufacturing index Tuesday at 10 a.m. Eastern time. SLIGHT GAIN: Economists forecast that the index ticked up to 57.3 in August, from 57.1 in July, according to a survey by FactSet.
BERLIN— A court has issued an injunction barring ridesharing service Uber from operating in Germany, the latest shot in the company's fight with taxi drivers. Frankfurt state court spokesman Arne Hasse said Tuesday the decision that Uber can't offer its services without a specific permit under German transport laws applies nationwide.
The American Chamber of Commerce in China is the latest business lobby to air its grievances over a series of investigations scrutinizing at least 30 foreign firms, as China seeks to enforce a 2008 anti-monopoly law.
HAVANA, Sept 2- Cuba's experiment with free-market reforms has unintentionally widened the communist-led island's racial divide and allowed white Cubans to regain some of the economic advantages built up over centuries.
Former U.S. House Majority Leader Eric Cantor will join investment bank Moelis & Co as vice chairman and managing director, the company said.
ATLANTIC CITY, N.J.— Revel Casino Hotel opened with a bang a little more than two years ago amid high hopes of turning around Atlantic City's struggling casino market. Revel became the second Atlantic City casino to shut down over Labor Day weekend, joining the Showboat, which closed its doors Sunday afternoon.
After some delays, the start of the trial Tuesday in U.S. District Court comes just over 13 months after Detroit became the largest U.S. city to file for bankruptcy. Detroit expects to cut $12 billion in unsecured debt to about $5 billion, which is "more manageable," according to Bill Nowling, a spokesman for the city's state-appointed emergency manager Kevyn Orr.
Sept 2- Former U.S. House Majority Leader Eric Cantor will join investment bank Moelis& Co as vice chairman and managing director, the company said, adding that Cantor will also be elected to its board.
DETROIT, Sept 2 Reuters)- Detroit's plan to recover from bankruptcy includes several blueprints for a new future. "What Detroit needed to start with was a reinvestment program," said James Spiotto, managing director of Chapman Strategic Advisors, a municipal finance consultancy.
LONDON, Sept. 2- Burger King may have taken a lot of flack in the past week for a deal that should curb its U.S. tax bill but in many ways it is consistent with the burger chain's aggressive tax-reduction strategies in recent years. They say it will allow Burger King to avoid paying some U.S. taxes.
NEW YORK, Sept 2- U.S. judges are imposing increasingly long prison terms for insider trading, a Reuters analysis shows. In 2011, former billionaire and Galleon Group hedge fund founder Raj Rajaratnam received an 11- year sentence for an insider trading scheme that netted him $63.8 million in illicit profits.
Yves Carcelle, the charismatic executive who transformed Louis Vuitton, died on Sunday in Paris. He was 66, the NYT reports.
LONDON- UK Treasury Chief Secretary Danny Alexander delivers speech setting out' his vision for Scotland to remain as an integral and full member of the United Kingdom' at Chatham House. MADRID- Central Bank of Peru Governor Julio Velarde speaks about monetary policy and macroeconomic stability at an event devoted to promoting investment in the country.
NEW YORK— McDonald's, Wendy's and other fast-food restaurants are expected to be targeted with acts of civil disobedience that could lead to arrests Thursday as labor organizers escalate their campaign to unionize the industry's workers.
Congressman from Texas has come out in full support of the United States lifting the 40- year old ban on crude oil exports, putting him at odds with fellow House Republicans wary of weighing in on the controversial issue.
WASHINGTON/ SEOUL, Sept 1- Washington is facing growing international pressure to ease its long standing ban on crude oil exports, with South Korea and Mexico joining the European Union in pressing the case for U.S. oil shipments overseas.
CHICAGO— Americans' eating habits have improved— except among the poor, evidence of a widening wealth gap when it comes to diet. Yet even among wealthier adults, food choices remain far from ideal, a 12- year study found. Frank Hu of the Harvard School of Public Health.
BINGHAMTON, N.Y.— A new invasive insect has devastated northeastern berry crops, and growers are working with Cornell University plant experts to develop strategies to fight it. Statewide, Cornell University estimated the damage to commercial berry growers at $7 million in 2012..