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Goldman settles SEC charges over 2013 options trading incident
(Reuters) - Goldman Sachs Group Inc will pay $7 million to resolve U.S. Securities and Exchange Commission charges stemming from a trading incident in which the Wall Street bank flooded the stock options market with erroneous orders. The SEC said Goldman sent about 16,000 mispriced options orders to various exchanges on Aug. 20, 2013, leading to about 1.5 million options contracts, representing 150 million shares, being executed within minutes after the market opened. By lacking proper safeguards, Goldman violated the "market access" rule that requires brokers and dealers to have risk and supervisory procedures designed to prevent market disruptions.
Stocks tick up, Greece keeps trading volatile; euro off
Woman stands in front of display showing market indices at Tokyo Stock Exchange in TokyoBy Rodrigo Campos NEW YORK (Reuters) - Stocks ended slightly higher on Wall Street in volatile trade on Tuesday and a global equities gauge was flat, while the euro fell as Greece grappled with a looming deadline on a debt payment to the IMF. Markets held on to some chance of resolution even as German Chancellor Angela Merkel played down any hopes of a last-minute deal with Greece and said there will be no new negotiations before a vote planned for Sunday.
Virgin Atlantic to cut 500 jobs - WSJ
Crew members of Virgin Atlantic Airways handout flags while walking past large placard in Union Square in New York(Reuters) - Virgin Atlantic Airways Ltd [VA.UL], owned by its British billionaire founder Richard Branson, is cutting about 500 jobs as it seeks to reduce costs and improve its financial resilience, the Wall Street Journal reported.
China June factory, services surveys fuel hopes economy levelling out, no quick rebound seen
Employees work at a Shuangwei factory in Putian, Fujian province, ChinaBy Kevin Yao BEIJING (Reuters) - Activity in China's factory sector expanded slightly in June though not as much as expected, while growth in the services sector sped up, official surveys showed, offering some signs that the world's second-largest economy may be starting to slowly level out after a raft of support measures. Beijing has rolled out a flurry of steps since last year, including interest rate cuts and more infrastructure spending, but analysts remain wary about the outlook given the still-weak property market, erratic global demand for China's exports and fears of a collapse in its wild stock market.
China June factory, services surveys fuel hopes economy leveling out
Employees work at a walling material factory in JiaozuoActivity in China's factory sector expanded slightly in June though not as much as expected, while growth in the services sector sped up, official surveys showed, offering some signs that the world's second-largest economy may be starting to slowly level out after a raft of support measures. Beijing has rolled out a flurry of steps since last year, including interest rate cuts and more infrastructure spending, but analysts remain wary about the outlook given the still-weak property market, erratic global demand for China's exports and fears of a collapse in its wild stock market.

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World News

Episcopalians vote to allow gay marriage in churches

FILE - In this May 1, 2005, file photo, Bishop Gene Robinson addresses the congregation at Christ Church in Philadelphia, Sunday, May 1, 2005. Robinson, now retired, said he is breathless about how quickly the gay rights movement has progressed since he was getting daily death threats and forced to wear a bulletproof vest to his consecration 12 years ago. Episcopalians are set to vote Wednesday, July 1, 2015, on allowing religious weddings for same-sex couples, just days after the U.S. Supreme Court legalized gay marriage nationwide. (AP Photo/Coke Whitworth, File)Episcopalians overwhelmingly voted Wednesday to allow religious weddings for same-sex couples, solidifying the church's embrace of gay rights that began more than a decade ago with the pioneering election of the first openly gay bishop.


Obama: 'New chapter' begins as U.S., Cuba to open embassies

President Obama: 'New Chapter' Begins as US, Cuba Will Open EmbassiesPresident Obama announced the U.S. and Cuba are opening embassies in their respective capitals later this month and formally reestablished diplomatic relations between the two countries for the first time in more than 50 years. "More than 54 years ago at the height of the cold war, the United States closed its embassy in Havana. Today, I can announce that the United States has agreed to formally reestablish diplomatic relations with the republic of Cuba and re-open embassies in our respective countries," the president said in the Rose Garden today.


Man bitten by shark on NC Outer Banks is 7th this summer

People surround and attend to a 68-year-old man that was bit by a shark in waist-deep water off Ocracoke Island, N.C., Wednesday, July 1, 2015. The man suffered wounds to his ribcage, lower leg, hip and both hands as he tried to fight off the shark. (Laura I. Hefty via AP)RALEIGH, N.C. (AP) — A shark bit a 68-year-old man several times Wednesday in waist-deep water off North Carolina's Outer Banks, officials said, the seventh in a record-breaking year of shark attacks for the state's coastal waters.


What could happen if Greece leaves European Union?

Greece: What Could Happen If Country Leaves the European UnionIf Greece and its 11 million people left the European Union, it would be an unprecedented move within the monetary system that gave birth to the currency known as the euro.A referendum, which has already been criticized as confusing and illegal, scheduled on Sunday will help determine whether a "Grexit" -- Greek exit -- from the 19-nation currency bloc could become a reality. Earlier this week, the government issued a maximum cash withdrawal for Greek residents at 60 euros. But due to the shortage of 20-euro banknotes, people mostly have access to 50-euro banknotes. ...


Trump loses business deals over comments about Mexicans, but gains in polls

Donald Trump's comments about Mexican immigrants may be costing him a growing of number of business relationships, but they appear to have given him a bump in the polls.


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