• Wednesday, July 1, 2015 - 10:02 US's Schumer Tries To Build Support For PR Bankruptcy Bill 0


    --Senior Senate Democrat Seeks Support
    --Senate GOP Aide: McConnell Likely To Defer To Committees

    WASHINGTON (MNI) - Chuck Schumer, the third ranking Senate Democrat, is trying to build congressional support for legislation that would allow Puerto Rico to declare Chapter 9 bankruptcy.

    Schumer said in a statement that he's working with Sen.

  • Wednesday, July 1, 2015 - 10:01 US SEC Releases Details of Exec Compensation Clawback Proposal 0


    WASHINGTON (MNI) - The following is a fact sheet released Wednesday by the Securities and Exchange Commission with details of the executive compensation clawback rules expected to be proposed for 60 days of comment shortly:

    Action

    The Commission will consider whether to propose rules directing national securities exchanges and associations to establish listing standards requiring companies to develop and implement policies to claw back incentive-based executive compensation that later is shown to have been awarded in error. The proposed rules are designed to improve the quality of financial reporting and benefit investors by providing enhanced accountability.

  • Wednesday, July 1, 2015 - 10:01 US NAR: Housing Will Pick Up in Second Half of the Year - Text 0


    WASHINGTON (MNI) - The following are excerpts from a forecast update for the housing industry and the general U.S. economy from the National Association of Realtors' Chief Economist Lawrence Yun, published Wednesday:

    The Economy

    - GDP growth was slightly negative in the first quarter but will pick up in the second half. For the year as whole, GDP will expand at 2.1 percent. Not bad but not great. A slow hum.

    - Consumer spending will open up because of lower gasoline prices. Personal consumption expenditure grew at 2.1 percent rate in the first quarter.

  • Wednesday, July 1, 2015 - 09:35 US Car Sales: General Motors Total Sales Down 3% - TEXT 0


    WASHINGTON (MNI) - General Motors released Wednesday the following statement about June sales:

    Chevrolet retail sales up 9 percent, surpassing Ford Division Chevrolet total pickup deliveries climb 33 percent; Silverado outsells F-Series on a retail basis Best June ever for Chevrolet crossovers GMC retail sales up 12 percent; total pickup sales up 37 percent Commercial deliveries up for 20th consecutive month

    DETROIT - Chevrolet, Buick, GMC and Cadillac dealers in the United States delivered 259,353 vehicles in June 2015. Retail deliveries climbed 7 percent year over year, and they were up more than the industry for the third month in a row. The drivers were stronger Cadillac sales, a 12 percent gain at GMC and a 9 percent...

  • Wednesday, July 1, 2015 - 08:55 Germany's Schaeuble Says Need Minimum Trust For Greek Talks 0


    -- Don't Even Know If There Will Be Referendum

    FRANKFURT (MNI) - Germany's Finance Minister Wolfgang Schaeuble said Wednesday that relations between Greece and Germany must improve before talks can begin again.

    "There needs to be a minimum amount of trust," Schaeuble said to Germany lawmakers in Berlin, noting that within a currency union you cannot work with a government that refuses to adhere to and implement agreements.

    "We do not even know if the Greek government will hold the referendum, if it is for or against it," Schaeuble said. The Greek government has to decide what it wants before new talks could start in earnest, he asserted....

  • Wednesday, July 1, 2015 - 08:15 Reality Check: June US Auto Sales Grind Higher, Dealers Say 0


    Repeats Story Initially Transmitted at 18:30 GMT Jun 30/14:30 EST Jun 30

    --Auto Dealers: Sales Still Vibrant But Growth Pace Moderating
    --Truck, SUV Sales Robust as Low Gas Prices Skew Sales Mix Larger
    --Consumer Confidence Improving

    NEW YORK (MNI) - Retail sales of new vehicles rose in June, but for most major brands, the rate of gains isn't quite as fierce as a year ago, according to auto dealers around the country.

    Dealers told MNI that following a brawny 2014, even incremental gains translate into lively commerce.