Federal Reserve official on Monday suggested that farmers consider a path toward internationally accepted standards for genetically modified crops, following rejections of U.S. corn shipments by China.» Read More
July 31- RBS is in late-stage talks with regulators at the Bank of England to appoint Ross McEwan as its new chief executive, replacing Stephen Hester who stepped down last month, the Financial Times reported.
July 31- Sony Corp's board is expected to reject a proposal from activist investor Daniel Loeb, whose fund is the company's largest shareholder, to spin-off part of its entertainment division, the Nikkei newspaper reported.
*Facebook falls after trading above IPO price of $38. NEW YORK, July 31- U.S. stocks advanced in volatile trading on Wednesday, pushing the S&P 500 to within a few points of 1,700, after the Federal Reserve gave no hint that a reduction in the pace of its bond-buying program is imminent. About 2:19 p.m., though, the Dow briefly turned negative and then rebounded.
The most common complaints filed with state and local consumer protection agencies once again focused on automotive sales and service, home improvement contractors and credit-related problems, according to the annual survey published by the Consumer Federation of America and the North American Consumer Protection Investigators, a professional group of government investigators.
*Navy had planned contract award next year. Officials at AgustaWestland, a unit of Italy's Finmeccanica SpA, and Boeing Co, which had considered proposing its V-22 tiltrotor plane or H-47 Chinook helicopters, said Wednesday they do not plan to submit bids. The Navy had planned to award a contract in the third quarter of fiscal 2014..
NEW YORK/ GENEVA/ SAO PAULO, July 31- Brazil's Grupo BTG Pactual SA, Latin America's largest independent investment bank, is making a bold push into the global commodity markets just as other banks bow out, betting it can avoid the regulatory pressure rattling rivals.
*Treasury announces $72 billion August refunding package. NEW YORK, July 31- Prices for U.S. There were no big changes in the policy stance of the Fed, "said Michael Moran, chief economist of Daiwa Securities America in New York.
Defense Secretary Chuck Hagel on Wednesday pledged to cut the Pentagon's overhead by almost $40 billion over the next decade and chart out ways to cut compensation by $50 billion, regardless of the depth of further cuts in military spending.
DETROIT, July 31- Long Island car dealer Gary Brown is enjoying the summer heat brought on by U.S. consumers' increasing demand for new cars and trucks, and like the rest of the industry, expects sales in July will continue the trend. "We're still on fire," the owner of Brown's Jeep Chrysler in Patchogue, New York, said. "
*Visa, MasterCard shares fall after ruling. WASHINGTON, July 31- A U.S. judge has sided with retailers seeking a lower cap on the fees charged by banks for debit card transactions, in a key ruling that sent down shares of card companies Visa Inc and MasterCard Inc..
*Fed keeps stimulus on track. NEW YORK, July 31- Wall Street stocks rallied while the dollar surrendered some gains on Wednesday after the U.S. The Fed said it will continue to buy $85 billion in mortgage and Treasury securities per month in its ongoing effort to bolster an economy still challenged by federal budget-tightening and weak growth overseas.
July 31- Credit Suisse Group AG is in advanced talks to sell a private equity business to Grosvenor Capital Management LP as the bank adapts to stricter rules for managing capital and risk, a person familiar with the matter said on Wednesday.
But in the hospital space, where gaining scale is crucial to survival, Community Health Systems is not letting Health Management Associates' legal woes hamper a buyout.
*Fed statement seen as dovish, silent on bond tapering. WASHINGTON, July 31- The U.S. The central bank said after a two-day meeting that it would keep buying $85 billion in mortgage and Treasury securities per month in its effort to strengthen an economy that it said was still challenged by federal budget-tightening.
NEW YORK- Michael Dell's and Silver Lake's $24.4 billion bid to take Dell Inc private suffers a blow when the company's special committee rejects their request to change the voting rules in exchange for a $150 million increase in their bid.
NEW YORK, July 31- U.S. stocks were little changed in choppy trading on Wednesday after the Dow industrials briefly turned negative on a Federal Reserve statement vowing to continue to support the economy's recover.
WASHINGTON, July 31- President Barack Obama's recent comments on the Keystone XL oil pipeline, downplaying jobs that would be created, jeopardize the project by adding to its uncertainty, Republican lawmakers said in a letter to the president on Wednesday.
BOSTON, July 31- Fidelity Contrafund manager Will Danoff cut his stake in Apple Inc 28 percent during the first half of the year, citing the iPhone maker's "slowing growth profile." Danoff remains Apple's largest active shareholder, only passive index and exchange-traded funds have larger stakes.
LONDON/ CANNES, France, July 31- Mukhtar Ablyazov, a Kazakh businessman accused of embezzling $6 billion from his former bank BTA, has been arrested near Cannes in southern France and is being held by police, sources familiar with the situation said. A police source said Ablyazov was arrested in the village of Mouans-Sartoux, located about 8 km north of Cannes.
BRASILIA, July 31- President Dilma Rousseff moved quickly on Wednesday to improve bus services in Brazil's largest city, Sao Paulo, where protests over a fare increase in June triggered an outburst of national discontent that battered her popularity.