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How Rusal escaped the noose of U.S. sanctions

How Rusal escaped the noose of U.S. sanctions

They were supposed to be the toughest sanctions the United States had ever imposed on a Russian oligarch. Seventeen days later, Washington watered them down. On April 23, the U.S. Treasury eased restrictions on billionaire Oleg Deripaska's aluminum company Rusal. Instead of barring Rusal from international markets, which is what the United States originally intended to do, the Treasury suggested it might lift the sanctions altogether.

Retail, tech stocks boost Wall Street; Russell 2000 hits record

NEW YORK (Reuters) - Retail and technology stocks led Wall Street higher on Wednesday as the small-cap Russell 2000 hit a record peak, even as U.S. bond yields touched near a seven-year high and investors fretted over geopolitics.

Toys 'R' Us demise could spur merger boom in U.S. toy market

(Reuters) - The U.S. toy industry looks set for a flurry of mergers and acquisitions between smaller toy makers in the aftermath of the Toys 'R' Us bankruptcy, as they seek more scope and negotiating power with big box retailers Target and Walmart .

Lachlan Murdoch to replace brother James as Fox CEO after Disney deal

(Reuters) - Twenty First Century Fox's Chief Executive Officer James Murdoch will leave the company and be succeeded by brother Lachlan once the company sells off its TV and film assets to Walt Disney Co .

Cisco quarterly revenue rises 4.4 percent

(Reuters) - Network gear maker Cisco Systems Inc reported a 4.4 percent rise in quarterly revenue on Wednesday, its second straight quarterly rise, driven by strong growth in its newer businesses such as cyber security.

Square's bitcoin move has caused internal disagreement: CEO Dorsey

NEW YORK (Reuters) - Square Inc's decision to allow users of its mobile app to buy and sell bitcoin this year was a "pretty contentious move within the company" and remains a source of internal tension, the payment processor's CEO Jack Dorsey said on Wednesday.

Industrial production rises strongly; homebuilding tumbles

WASHINGTON (Reuters) - U.S. industrial production increased solidly in April amid an acceleration in manufacturing and mining output, the latest indication that the economy was gathering momentum early in the second quarter.

Amazon cuts Whole Foods prices for Prime members in new grocery showdown

(Reuters) - Amazon.com Inc and Whole Foods Market are making a surgical strike in the already brutal grocery price war.

Macy's lifts forecast, says 'every week was good' in first quarter

(Reuters) - Macy's Inc raised its full-year profit forecast on Wednesday and reported better-than-expected quarterly and same-store sales, helped by strong international tourism spending, a new loyalty program and a greater assortment of products offered in stores.

Redstone family moves to cement control over CBS

(Reuters) - The Redstone family sought on Wednesday to amend CBS Corp's bylaws to prevent its board of directors from issuing a special stock dividend that would eliminate much of its voting power, as a court room showdown between them loomed.

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