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The president said the Fed has been hampered by a "horrendous lack of vision" and said it should institute 100 basis points worth of reductions in its benchmark rate.Marketsread more
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The U.S. Supreme Court on Thursday agreed to decide whether a lawsuit filed by the European Union accusing cigarette maker R.J. Reynolds of running a global money-laundering scheme involving narcotics smuggling into Europe can move forward.
The case could have broad implications because the court will decide whether plaintiffs can sue under U.S. federal civil racketeering laws for conduct that takes place overseas and, if so, under what circumstances.
The high court will review an April 2014 ruling by the 2nd U.S. Circuit Court of Appeals in New York in favor of the European Union and 26 member states. That ruling permitted the case to proceed i