Job growth stalls as unemployment sticks at 8.2 percent
The June labor report shows 80 000 new jobs and an 8.2 percent unemployment rate, well under forecasts of 100 000 plus. Economists warn the weak trend average 76 000 monthly gains over three months signals a rough second half and potential drag on Obama’s re election bid.
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AutoChina Faces U S Probes Amid Chinese Corporate Scrutiny
The AutoChina auto dealer, founded by Li Yonghui and based in Shijiazhuang, is among Chinese firms with U S listed shares targeted by short sellers and regulators for suspected financial abuses. The SEC sued 11 investors and a director for fraudulent trades, while AutoChina trades on the OTC Bulletin Board after a Nasdaq delisting.
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U.S
Li Yonghui
AutoChina
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SEC
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Barclays faces criminal probe over LIBOR manipulation
The Serious Fraud Office opened a criminal inquiry into LIBOR rate rigging tied to Barclays. The bank faced a 435 million dollar penalty last week for submitting false borrowing costs from 2005 to 2009. Regulators eye similar actions at other banks while Barclays negotiates leadership changes.
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Serious Fraud Office
Barclays
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Retailers sue Pfizer over Lipitor generics delay
Walgreen Co Kroger Co and three other retailers sue Pfizer and Ranbaxy in Trenton New Jersey alleging patent fraud and illegal anti competitive conduct to delay generic Lipitor sales The suit cites an extended monopoly and deals with prescription benefit managers to curb generic competition.
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N.J
Pfizer Inc
U.S
Walgreen Co
Kroger Co
U.S. District Court
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Ranbaxy Laboratories
India
Ranbaxy
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