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  • The U.S. Department of Justice charged former controller Kevyn Rakowski and former chief credit officer William North with three criminal counts of making false statements to the Federal Reserve, and one criminal count of making false statements to the Securities and Exchange Commission. The SEC brought related civil charges against both men, and also...

  • How the Dow Jones industrial average fared Wednesday Wednesday, 6 May 2015 | 5:21 PM ET

    U.S. stocks fell across industries on Wednesday as investors worried over stock valuations, economic growth and rising interest rates. Stocks rose at the start of trading, but quickly lost their gains. A comment from Federal Reserve Chair Janet Yellen suggesting that stocks are generally overvalued added to the selling pressure.

  • Speaking at the industry's trade show in Chicago, Federal Communications Commission Chairman Tom Wheeler drew a lukewarm reception as he pressed the companies to boost competition and embrace the Internet's power to shake up their business model. Cable and wireless industry trade groups are challenging in court the FCC's new Internet traffic...

  • Federal Reserve Chair Janet Yellen warned of high valuations, adding to anxiety about future interest rates and a global bond rout. Atlanta Federal Reserve bank president Dennis Lockhart said he still expects it will be appropriate to raise interest rates some time in the middle of the year, and that market expectations of a September increase were in "...

  • NEW YORK, May 6- Jeffrey Gundlach, chief executive of investment firm DoubleLine Capital, said Friday's report on U.S. nonfarm payrolls in April "feels to me that it's going to be weak." Gundlach was speaking at a private DoubleLine event in New York on Wednesday, a day after predicting the Federal Reserve would likely not raise interest rates this year.

  • NEW YORK, May 6- U.S. stocks ended lower on Wednesday after U.S. Federal Reserve Chair Janet Yellen warned of high valuations, adding to anxiety about future interest rates and a global bond rout. Based on the latest available data, the Dow Jones industrial average fell 86.02 points, or 0.48 percent, to 17,842.18, the S&P 500 lost 9.28 points, or 0.44 percent, to 2,080.18...

  • Federal Reserve Chair Janet Yellen warned of high valuations, adding to anxiety about future interest rates and a global bond rout. Atlanta Federal Reserve bank president Dennis Lockhart said he still expects it will be appropriate to raise interest rates some time in the middle of the year, and that market expectations of a September increase were in "...

  • The FAA has been under intense pressure from industry and Congress to allow beyond-line-of-sight operations. Reuters first reported last week that the FAA is in talks with drone manufacturers and operators about testing beyond-line-of-sight drone systems, and an announcement is expected as soon as this week. "We anticipate receiving valuable data from...

  • *Private employers add fewest jobs since Jan 2014. Federal Reserve Chair Janet Yellen warned of high valuations, adding to anxiety about a global bond rout and upcoming economic data. "Everyone is obsessed with the Fed," said Michael Church, president of Addison Capital Management in Philadelphia.

  • The FAA has been under intense pressure from industry and Congress to allow beyond-line-of-sight operations. The FAA is in talks with drone manufacturers and operators about testing beyond-line-of-sight drone systems, and an announcement is expected as soon as this week. "We anticipate receiving valuable data from each of these trials that could result in...

  • May 6- Sheila Bair, an outspoken critic of Wall Street during her time as chairman of the Federal Deposit Insurance Corp, has been named president of a liberal arts college near Baltimore. Appointed to lead the FDIC by President George W. Bush in 2006, Bair was one of the first officials to warn about a subprime mortgage crisis but clashed often with those who were...

  • *Euro hits roughly 10- week high of $1.13680. NEW YORK, May 6- The U.S. dollar hit its lowest level against the euro since late February on Wednesday after a rise in European yields drove demand for the euro and weak U.S. data supported expectations that the Federal Reserve will delay hiking interest rates. "Europeans feel more comfortable in their skin right now," said...

  • WASHINGTON, May 6- Federal Reserve Chair Janet Yellen on Wednesday said high equity valuations could pose potential dangers but that stability risks across the U.S. financial system remained in check. "I would highlight that equity market valuations at this point generally are quite high," Yellen said. Yellen's view on the run-up in stocks was an answer to...

  • NEW YORK— U.S. stocks fell across industries on Wednesday as investors worried over stock valuations, economic growth and rising interest rates. A comment from Federal Reserve Chair Janet Yellen suggesting that stocks are generally overvalued added to the selling pressure. "There are creeping worries that inflation, which was seen as non-existent, will soon...

  • WASHINGTON, May 6- Federal Reserve Chair Janet Yellen on Wednesday said the central bank is prepared to take further action to make the financial system safer, in a warning to the banking industry and non-bank lenders. In prepared remarks at the " Finance and Society" conference held at the International Monetary Fund, Yellen outlined the contributions of the...

  • Fed Chair Yellen says stock market prices 'quite high' Wednesday, 6 May 2015 | 9:16 AM ET

    WASHINGTON— Federal Reserve Chair Janet Yellen on Wednesday described stock market valuations as high and said the central bank was carefully monitoring their impact on financial stability. "I would highlight that equity market valuations at this point generally are quite high," Yellen said in conversation with Christine Lagarde, managing director of the...

  • WASHINGTON, May 6- Federal Reserve Chair Janet Yellen on Wednesday said the central bank is prepared to take further action to make the financial system safer. In prepared remarks at the International Monetary Fund, Yellen outlined the contributions of the banking system to society and the economy. But Yellen quickly turned her speech to the distorted system...

  • LONDON, May 6- Gold edged down on Wednesday, as the impact of stronger European shares and higher U.S. real yields counteracted the effects of a weaker dollar and prospects that the Federal Reserve will not raise interest rates at its meeting in June. Spot gold was down 0.2 percent at $1,190.53 an ounce by 1011 GMT, while U.S. gold futures for June delivery lost $3.20...

  • May 6- The U.S. Commodity Futures Trading Commission sued two gold futures traders from the United Arab Emirates, alleging they engaged in unlawful disruptive trading practices known as "spoofing" by placing bids and offers with the intent to cancel them before execution. CFTC alleges that between February and April 28, 2015, UAE residents Heet Khara and Nasim...

  • *Gold climbs for third straight session towards $1,200/ oz. SINGAPORE, May 6- Gold extended gains to a third session on Wednesday, boosted by weakness in the dollar and mixed U.S. economic data that increased speculation that the Federal Reserve will not raise interest rates anytime soon. Spot gold rose 0.3 percent to $1,196.36 an ounce by 0346 GMT, bringing it near...