The Global Iron Ore Crisis: What's Next in Four Charts

Since the initial incident in Brazil in late January, the top producer has announced supply cuts of as much as 70 million tons, although it’s said it will try to offset some lost production. The mainland has a very substantial ore-mining industry, but production has been hurt in recent years as the content is lower-grade and higher-cost than foreign supplies, and Chinese producers have been the target of a strict environmental clampdown.

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The Global Iron Ore Crisis: What's Next in Four Charts

U.S. government agency sued over sale of ‘certified’ used cars

The Center for Auto Safety and five other groups filed a lawsuit against the Federal Trade Commission (FTC) on Monday for allowing used cars to be advertised as “certified” or safe despite being the target of an outstanding safety recall. The FTC reached an agreement in January 2016 with General Motors Co and two dealership companies, Jim Koons Management and Lithia Motors Inc , that allows them to advertise cars as “certified pre-owned vehicles” even though they might have an issue related to a safety recall that still needs to be fixed. The agency did require the companies to disclose any uncompleted safety recalls, and GM spokesman Jim Cain said the Detroit automaker does not allow dealers to advertise vehicles as “certified per-owned” unless recall repairs are made.

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U.S. government agency sued over sale of ‘certified’ used cars

Ex-Wall Street banker convicted for giving father insider tips

An ex-Wall Street investment banker was convicted on Wednesday of engaging in insider trading by tipping his father off to unannounced healthcare mergers, a victory for prosecutors after an appellate ruling made it harder to pursue such cases harder. Sean Stewart, who previously worked at Perella Weinberg Partners and JPMorgan Chase & Co , was found guilty by a federal jury in Manhattan on all nine counts he faced, including securities fraud. “I think it's fair to say this is a family tragedy,” said Carmela Raiti, one of the jurors.

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Ex-Wall Street banker convicted for giving father insider tips

Target cuts fiscal-year profit forecast; shares drop

Retail chain Target Corp cut its fiscal-year profit outlook on Wednesday after quarterly sales fell more than expected due to lower demand for electronics and a weak start to a revamp of its grocery business. Target's sales declined from the previous quarter as well as from a year earlier, indicating a “significant slowdown in trade,” said Neil Saunders, chief executive officer of research firm Conlumino. Sales at stores open at least one year fell 1.1 percent in the second quarter ended on July 30, which Saunders said was the first decline in two years.

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Target cuts fiscal-year profit forecast; shares drop

Ackman cheers as Fidelity funds unload more Herbalife shares

One of Herbalife Ltd's largest investors sold more of the company's stock, just weeks after the U.S. government told the protein shake maker to reorganize its business, according to a filing with the U.S. Securities and Exchange Commission. In an SEC filing on Wednesday, Fidelity Investments, the second largest investor in Herbalife , said it had cut its stake in the firm to 7.4 million shares, a 14 percent reduction from the 8.6 million shares it reported owning at the end of June. “The fact that Fidelity is selling is a good sign,” said Bill Ackman, the billionaire hedge fund manager who bet $1 billion that Herbalife's stock would collapse.

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Ackman cheers as Fidelity funds unload more Herbalife shares

Weak U.S. retail sales, inflation data dim prospect of Fed rate hike

By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales were unexpectedly flat in July as Americans cut back on discretionary spending, pointing to a moderation in consumption that could temper expectations of a sharp pickup in economic growth in the third quarter. Cooling consumer spending and tame inflation suggest the Federal Reserve will probably not raise interest rates anytime soon despite a robust labor market. “Fed members are afraid to come out from under their rocks until growth is sustainably solid and inflation in, near or at their target, and today's reports don't provide them with any comfort that will happen soon,” said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania.

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Weak U.S. retail sales, inflation data dim prospect of Fed rate hike

Can stocks stay at highs? That depends on earnings

After finally eclipsing year-old record highs, the U.S. stock market will be tested again next week, when the onslaught of company earnings could help investors assess the impact of Britain's vote to exit the European Union.

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Can stocks stay at highs? That depends on earnings

Criminal probe casts 2009 Ackman-Target boardroom brawl in new light

By Ross Kerber BOSTON (Reuters) – A widening criminal probe casts new light on a bitter defeat hedge fund activist Bill Ackman suffered in his 2009 bid for board seats at U.S. retailer Target Corp. Target for years has paid proxy solicitor Georgeson LLC to track the votes of its top investors. This week, five current and former Georgeson employees were charged with fraud for using bribes to get advance voting information on proxy battles. The same tactics cited in the criminal complaint were used to help Target defeat Ackman in 2009, according to a former Georgeson employee turned whistleblower.

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Criminal probe casts 2009 Ackman-Target boardroom brawl in new light

U.S., EU officials say they will not settle for limited trade deal

By David Lawder NEW YORK (Reuters) – U.S. and European Union trade officials said on Thursday they would not settle for a limited trans-Atlantic free trade deal that ignores deep divisions on agricultural products, services, public procurement and dispute resolution. In separate briefings during the latest negotiating round in New York, the U.S. and EU officials said they would push for a comprehensive Trans-Atlantic Trade and Investment Partnership, or T-TIP, before U.S. President Barack Obama leaves office in January. “We are not going to shoot for or accept a 'T-TIP light,' a U.S.

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U.S., EU officials say they will not settle for limited trade deal

U.S. economy stalls in first quarter as activity weakens broadly

U.S. economic growth braked sharply in the first quarter to its slowest pace in two years as consumer spending softened and a strong dollar continued to undercut exports, but a pick-up in activity is anticipated given a buoyant labor market.

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U.S. economy stalls in first quarter as activity weakens broadly