  | | | Dimon says losses indefensible, still reform skeptic | | WASHINGTON (Reuters) - JPMorgan Chase & Co Chief Executive Jamie Dimon told lawmakers that he could not defend how a hedging strategy in a London office morphed into a multibillion-dollar trading loss, but he still took swipes at regulatory reforms that he said fail to make sense. | | | |  | | | Italy's Monti seeks political unity amid market turmoil | | ROME (Reuters) - Italian Prime Minister Mario Monti on Wednesday sought to shore up his political support ahead of a series of crucial international meetings where stemming the spread of the euro zone crisis will be the main objective. | | | | | GM's Opel, labor in talks to shut Bochum plant | | FRANKFURT/DETROIT (Reuters) - General Motors' European unit Opel is negotiating a deal with labor unions to close the Bochum plant after production of the Zafira Tourer van ends in exchange for guaranteeing German jobs through 2016. | | | |  | | | Dell to cut $2 billion costs, counts on acquisitions | | (Reuters) - Dell Inc plans to slash more than $2 billion in costs over the next three years, primarily from the supply chain and sales group, as it sharpens its focus on the technology needs of corporations. | | | | | Barnes & Noble's Riggio settles shareholder suit | | (Reuters) - Leonard Riggio, the founder and chairman of Barnes & Noble Inc , agreed on Wednesday to forgo $29 million from a sale of one of his companies to the book retailer in order to settle a shareholder lawsuit, according to court documents. | | | |  | | | Weak sales, inflation data favor Fed action | | WASHINGTON (Reuters) - Retail sales fell for a second straight month in May and wholesale prices dropped by the most in three years, raising chances of further action by the Federal Reserve to shore up the flagging recovery. | | | |  | | | Gupta trial defense asks: "Where's the beef?" | | NEW YORK (Reuters) - Evidence of insider trading against businessman Rajat Gupta is "overwhelming," a prosecutor told jurors at the trial's close on Wednesday, while a defense lawyer countered that the government had a weak, circumstantial case without direct proof. | | | | | Banks fail to peg bonuses to performance: G20 body | | LONDON (Reuters) - Banks are failing to comply with global rules requiring them to peg bonuses to long-term company performance, the regulatory task force of the Group of 20 leading economies said on Wednesday. | | | |  |  | | | A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today | | |  | |  | | | The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today | | | | | | » MORE NEWSLETTERS | |
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