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  • Wall St. extends rise, investors see no change in Fed policy
    By Ryan Vlastelica NEW YORK (Reuters) - Stocks advanced for a second straight day on Tuesday as investors bet the Federal Reserve would temper statements which were interpreted to mean a sooner-than-expected winding down of stimulus efforts. Strong market breadth showed an increased appetite for equities, but trading volume was light, a sign that many market participants were taking a wait-and-see attitude. The Fed's two-day policy meeting started Tuesday, and traders are trying to guess its timeline for scaling back purchases of $85 billion per month of bonds. ...
  • Inflation data points to firming economy
    By Jason Lange WASHINGTON (Reuters) - Inflation showed signs of stabilizing in May after a long decline, a potential comfort to Federal Reserve policymakers who want to avoid any chance of a debilitating bout of deflation. The Labor Department said on Tuesday the consumer price index edged 0.1 percent higher last month after two straight months of declines, while the so-called core index, which excludes food and energy costs, rose 0.2 percent, just above the pace clocked in April. The core index, which the U.S. ...
  • Adobe Systems profit beats as Creative Cloud subscriptions grow
    (Reuters) - Adobe Systems Inc, which makes the Photoshop and Acrobat software, reported a higher-than-expected adjusted quarterly profit as demand rose for the subscription-based version of its flagship software package. Shares of the company rose 4.4 percent in after-market trading. Net income fell to $76.5 million, or 15 cents per share, in the second quarter, from $223.9 million, or 45 cents per share, a year earlier. Excluding items, earnings were 36 cents per share. Revenue fell 10 percent to $1.01 billion. Analysts on average had expected earnings of 33 cents per share on revenue of $1. ...
  • Google asks U.S. surveillance court permission to publish request data
    SEATTLE (Reuters) - Google Inc said on Tuesday it has asked the Foreign Intelligence Surveillance Court to allow the Internet company to publish aggregate numbers of national security requests, including disclosures under the Foreign Intelligence Surveillance Act (FISA), separately from criminal requests. Google's move comes after other tech companies, including Microsoft Corp, Facebook Inc and Apple Inc released limited information about the number of surveillance requests they receive under an agreement they struck with the U.S. government last week. ...
  • Icahn seeks Dell share buyback, buys Southeastern stock
    (Reuters) - Billionaire investor Carl Icahn on Tuesday laid out a new proposal for Dell Inc, calling on the No. 3 PC maker to buy back 1.1 billion shares and allowing the activist to become a larger stakeholder. Icahn said in an open letter to Dell shareholders that he and Southeastern Asset Management would still seek to stop founder Michael Dell's buyout offer for the company, and if successful, elect new directors to the board at a shareholder meeting scheduled for July 18. Those directors in turn would implement a $14 per share tender offer, he said in the letter. ...
  • Exclusive: Facebook reaches 1 million active advertisers
    By Jennifer Saba (Reuters) - Facebook Inc said on Tuesday it now has 1 million active advertisers globally who used the platform in the last 28 days, a milestone for the company that is seeking to revive its revenue growth. A vast majority of those advertisers are small business owners who have flocked to the world's No. 1 social network. Facebook executives are hoping to net even more small advertisers since 16 million local businesses, ranging from jewelry sellers to clothing stores, set up free pages on the network. ...
  • Huawei says has no plans to buy Nokia
    NEW YORK (Reuters) - Chinese network equipment and cellphone maker Huawei Technologies Co said it "has no plans to acquire Nokia", responding to a Financial Times report that it would consider buying the Finish phone maker. The denial came from Huawei's vice president for external affairs, Bill Plummer. The story on the FT website on Tuesday had quoted the head of Huawei's consumer business, Richard Yu, as saying: "We are considering these sorts of acquisitions; maybe the combination has some synergies but depends on the willingness of Nokia. We are open-minded." Nokia declined comment. ...
  • G8 pledges action on tax evasion, few concrete measures
    By William Schomberg and Jeff Mason ENNISKILLEN, Northern Ireland (Reuters) - The world's rich economies said they would take a tougher stance on fighting money laundering and tax evasion but promised little in the way of specific new action at the end of a two-day summit on Tuesday. The Group of Eight leaders signed up for a string of aims including improved transparency about who owns shell companies and more information-sharing between tax authorities. ...
  • Deloitte to pay $10 million to settle misconduct accusations
    By Karen Freifeld NEW YORK (Reuters) - A financial advisory unit of Deloitte LLP has agreed to pay $10 million and accept other New York state penalties to settle accusations of misconduct related to an investigation of money laundering at Standard Chartered Bank. Deloitte Financial Advisory Services also agreed to a one-year ban on doing consulting work for financial institutions regulated by New York state, and to reforms designed to address conflicts of interest, the state Department of Financial Services said on Tuesday. ...
  • UK charges ex-UBS trader Hayes in Libor investigation
    By Kirstin Ridley LONDON (Reuters) - Britain's fraud prosecutor on Tuesday charged former UBS and Citigroup trader Tom Hayes with eight counts of conspiracy to defraud as it laid the groundwork for what could be the first Libor trial. Hayes, 33, was arrested by London police and the Serious Fraud Office (SFO) last December as part of a global investigation, spanning North America, Europe and Japan, into the manipulation of benchmark interest rates. Libor, the London interbank offered rate, is a crucial benchmark affecting hundreds of trillions of dollars of mortgages and other loans worldwide. ...

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• Breaking News

  • Wall St. extends rise, investors see no change in Fed policy
    By Ryan Vlastelica NEW YORK (Reuters) - Stocks advanced for a second straight day on Tuesday as investors bet the Federal Reserve would temper statements which were interpreted to mean a sooner-than-expected winding down of stimulus efforts. Strong market breadth showed an increased appetite for equities, but trading volume was light, a sign that many market participants were taking a wait-and-see attitude. The Fed's two-day policy meeting started Tuesday, and traders are trying to guess its timeline for scaling back purchases of $85 billion per month of bonds. ...
  • Inflation data points to firming economy
    By Jason Lange WASHINGTON (Reuters) - Inflation showed signs of stabilizing in May after a long decline, a potential comfort to Federal Reserve policymakers who want to avoid any chance of a debilitating bout of deflation. The Labor Department said on Tuesday the consumer price index edged 0.1 percent higher last month after two straight months of declines, while the so-called core index, which excludes food and energy costs, rose 0.2 percent, just above the pace clocked in April. The core index, which the U.S. ...
  • Adobe Systems profit beats as Creative Cloud subscriptions grow
    (Reuters) - Adobe Systems Inc, which makes the Photoshop and Acrobat software, reported a higher-than-expected adjusted quarterly profit as demand rose for the subscription-based version of its flagship software package. Shares of the company rose 4.4 percent in after-market trading. Net income fell to $76.5 million, or 15 cents per share, in the second quarter, from $223.9 million, or 45 cents per share, a year earlier. Excluding items, earnings were 36 cents per share. Revenue fell 10 percent to $1.01 billion. Analysts on average had expected earnings of 33 cents per share on revenue of $1. ...
  • Google asks U.S. surveillance court permission to publish request data
    SEATTLE (Reuters) - Google Inc said on Tuesday it has asked the Foreign Intelligence Surveillance Court to allow the Internet company to publish aggregate numbers of national security requests, including disclosures under the Foreign Intelligence Surveillance Act (FISA), separately from criminal requests. Google's move comes after other tech companies, including Microsoft Corp, Facebook Inc and Apple Inc released limited information about the number of surveillance requests they receive under an agreement they struck with the U.S. government last week. ...
  • Icahn seeks Dell share buyback, buys Southeastern stock
    (Reuters) - Billionaire investor Carl Icahn on Tuesday laid out a new proposal for Dell Inc, calling on the No. 3 PC maker to buy back 1.1 billion shares and allowing the activist to become a larger stakeholder. Icahn said in an open letter to Dell shareholders that he and Southeastern Asset Management would still seek to stop founder Michael Dell's buyout offer for the company, and if successful, elect new directors to the board at a shareholder meeting scheduled for July 18. Those directors in turn would implement a $14 per share tender offer, he said in the letter. ...
  • Exclusive: Facebook reaches 1 million active advertisers
    By Jennifer Saba (Reuters) - Facebook Inc said on Tuesday it now has 1 million active advertisers globally who used the platform in the last 28 days, a milestone for the company that is seeking to revive its revenue growth. A vast majority of those advertisers are small business owners who have flocked to the world's No. 1 social network. Facebook executives are hoping to net even more small advertisers since 16 million local businesses, ranging from jewelry sellers to clothing stores, set up free pages on the network. ...
  • Huawei says has no plans to buy Nokia
    NEW YORK (Reuters) - Chinese network equipment and cellphone maker Huawei Technologies Co said it "has no plans to acquire Nokia", responding to a Financial Times report that it would consider buying the Finish phone maker. The denial came from Huawei's vice president for external affairs, Bill Plummer. The story on the FT website on Tuesday had quoted the head of Huawei's consumer business, Richard Yu, as saying: "We are considering these sorts of acquisitions; maybe the combination has some synergies but depends on the willingness of Nokia. We are open-minded." Nokia declined comment. ...
  • UK charges ex-UBS trader Hayes in Libor investigation
    By Kirstin Ridley LONDON (Reuters) - Britain's fraud prosecutor on Tuesday charged former UBS and Citigroup trader Tom Hayes with eight counts of conspiracy to defraud as it laid the groundwork for what could be the first Libor trial. Hayes, 33, was arrested by London police and the Serious Fraud Office (SFO) last December as part of a global investigation, spanning North America, Europe and Japan, into the manipulation of benchmark interest rates. Libor, the London interbank offered rate, is a crucial benchmark affecting hundreds of trillions of dollars of mortgages and other loans worldwide. ...
  • G8 pledges action on tax evasion, few concrete measures
    By William Schomberg and Jeff Mason ENNISKILLEN, Northern Ireland (Reuters) - The world's rich economies said they would take a tougher stance on fighting money laundering and tax evasion but promised little in the way of specific new action at the end of a two-day summit on Tuesday. The Group of Eight leaders signed up for a string of aims including improved transparency about who owns shell companies and more information-sharing between tax authorities. ...
  • Deloitte to pay $10 million to settle misconduct accusations
    By Karen Freifeld NEW YORK (Reuters) - A financial advisory unit of Deloitte LLP has agreed to pay $10 million and accept other New York state penalties to settle accusations of misconduct related to an investigation of money laundering at Standard Chartered Bank. Deloitte Financial Advisory Services also agreed to a one-year ban on doing consulting work for financial institutions regulated by New York state, and to reforms designed to address conflicts of interest, the state Department of Financial Services said on Tuesday. ...

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