Ferrari-Fueled Maserati at $65,600 Lures Bored BMW Buyers

Maserati, the Italian maker of exotic cars driven by the likes of U2 frontman Bono and designer Ralph Lauren, is shifting its focus from the elite to the merely wealthy with a mid-sized sedan called the Ghibli.
Read more: Bloomberg news

Corzine Faces Trading Ban as CFTC Sues Over MF Global

A U.S. regulator’s lawsuit against Jon Corzine could make him the first former leader of Goldman Sachs Group Inc. to be banned from trading, the industry he returned to after serving as a New Jersey senator and governor.
Read more: Bloomberg news

Europe Stocks Fall, U.S. Futures Pare Gain as Yen Drops

European stocks fell, trimming the biggest weekly rally in almost two months, and U.S. stock-index futures were little changed. Commodities gained before reports on American consumer sentiment and business activity while the yen weakened against all of its 16 major counterparts.
Read more: Bloomberg news

Fed Officials Intensify Effort to Curb Surge in Interest Rates

Federal Reserve officials intensified efforts to curb a growth-threatening rise in long- term interest rates, seeking to clarify comments by Chairman Ben S. Bernanke that triggered turmoil in global financial markets.
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Dirty Secret of French Restaurants Out as Food Origin Sought

Daniel Fasquelle wants the world to know the dirty secret in the kitchens of many French restaurants: they don’t cook their own food.
Read more: Bloomberg news

Stocks, Bonds Gain While Yen Weakens, Commodities Rebound

U.S. stocks rose for a third day and commodities rebounded following better-than-estimated data on American personal incomes and jobless claims. Italy and Spain led bonds higher as European Union finance chiefs struck an agreement on how to handle failing banks.
Read more: Bloomberg news

Defense of Marriage Act Provision Struck Down

A divided U.S. Supreme Court overturned the federal law that defines marriage as a heterosexual union, saying it violates the rights of married gay couples by denying them government benefits.
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Li’s Shock Treatment to China Lenders Evokes Ex-Reformer

The jolt Premier Li Keqiang delivered to China’s financial system emulates a playbook crafted by predecessor Zhu Rongji in the 1990s, inflicting short-term pain in the anticipation of long-term gain.
Read more: Bloomberg news

Citigroup Opens in Iraq to Tap $1 Trillion of Oil Spending

Citigroup Inc., the U.S. lender scaling back in some emerging markets, said it’s seeking to benefit from an estimated $1 trillion of infrastructure spending in Iraq as the country rebuilds roads and bridges after the war.
Read more: Bloomberg news

EU Resumes Battle Over Imposing Losses at Failing Lenders

European Union finance ministers descended on Brussels, aiming to break a deadlock on rules for assigning losses at failing banks that doomed overnight talks last week.
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Stocks Rebound as Commodities Advance on Economic Reports

Stocks rebounded from yesterday’s slide as a report showed U.S. durable-goods orders and home prices rose more than forecast in May. Metals advanced while Treasuries erased earlier gains to trade little changed.
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Emir Abdicates as Energy-Rich Qatar Set for New Era

Qatar’s Emir Sheikh Hamad Bin Khalifa Al Thani, who stripped his father of the title in a 1995 coup, today handed that power to his son, saying the moment for new leadership in the world’s richest country had arrived.
Read more: Bloomberg news

Carney’s Escape Velocity Aim Brings Canadian Halo to BOE

Mark Carney’s first six weeks as Bank of England governor will test his ability to turn activist rhetoric into policy reality as he seeks to accelerate the struggling U.K. economy to what he calls “escape velocity.”
Read more: Bloomberg news

Kerry Reproaches Russia as Ecuador Considers Snowden Asylum Bid

The U.S. lashed out at Russia for allowing former U.S. intelligence contractor Edward Snowden to transit through Moscow as Ecuador considered his bid for asylum.
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Stocks Fall With China in Bear Market as Bonds Decline

Stocks fell with Chinese equities entering a bear market on concern a cash crunch will hurt the economy. Bonds dropped around the world on mounting speculation the U.S. will begin curbing stimulus, while commodities declined and the dollar strengthened.
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Billionaire Daughter Leads Birla Into Microloans

Ananyashree Birla, the teenage daughter of Indian billionaire Kumar Mangalam Birla, is lending to the poor. Her experience may help her father’s quest for a banking permit.
Read more: Bloomberg news

Historic Week Opens as High Court Saves Biggest Cases for Last

A historic week at the U.S. Supreme Court may transform the rights of racial minorities and gays, potentially cutting longstanding voting protections for blacks and Hispanics while allowing a new wave of same-sex marriages.
Read more: Bloomberg news

Saudi Arabia Changes Weekend to Friday, Saturday

Saudi Arabia will shift its weekend to Friday and Saturday starting next week, taking the biggest Arab economy a step closer to opening its $400 billion stock market to foreign investors.
Read more: Bloomberg news

Gold Wagers Slump as $55 Billion Erased From Funds: Commodities

Hedge funds cut bets on a gold rally by the most since February after the Federal Reserve laid out plans for reducing stimulus and this year’s drop in the value of exchange-traded products extended to $55 billion.
Read more: Bloomberg news

Two Large Meals a Day Tops Six Mini-Meals for Weight Loss

Eating two large meals a day yielded more weight loss than consuming six mini-meals with the same number of calories, according to a study that challenges the common wisdom on appetite control.
Read more: Bloomberg news

Smog at Hazardous as Singapore, Jakarta Spar Over Fires

Singapore remained blanketed in thick, smoky haze as Indonesia’s Air Force prepared to water- bomb forest fires raging on the island of Sumatra.
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Men Over 40 Should Think Twice Before Running Triathlons

For men competing in triathlons past the age of 40, the grueling slog to the finish line could be their last.
Read more: Bloomberg news

Bonds Tumble With Stocks as Gold Drops in Rout on Fed

Bonds and stocks fell around the world, with shares in emerging markets sinking the most in 20 months, after the Federal Reserve said it may phase out stimulus and China’s cash crunch worsened. Gold led commodities lower.
Read more: Bloomberg news

Gold Tumbles to 2 1/2 Year-Low After Fed as Silver Plummets

Gold fell below $1,300 an ounce to the lowest in more than 2 1/2 years in New York, exceeding April’s drop into a bear market, after Federal Reserve Chairman Ben S. Bernanke said stimulus may be reduced later this year as the economy recovers. Silver dropped to the lowest since 2010.
Read more: Bloomberg news

Bernanke Says Fed on Course to End Asset Buying in 2014

Federal Reserve Chairman Ben S. Bernanke said the central bank may start dialing down its unprecedented bond-buying program this year and end it entirely in mid-2014 if the economy finally achieves the sustainable growth the Fed has sought since the recession ended in 2009.
Read more: Bloomberg news

Yen Gains With Oil While Stocks Decline Before Fed

The yen strengthened for the first time in three days against the dollar and stocks declined before a Federal Reserve meeting that may clarify the outlook for U.S. monetary stimulus. Oil approached $100 a barrel for the first time since September.
Read more: Bloomberg news

Obama Says Bernanke Has Been at Fed ‘Longer Than He Wanted’

President Barack Obama said Federal Reserve Chairman Ben S. Bernanke has stayed in his post “longer than he wanted,” one of the clearest signals the central bank chief will leave when his current term expires next year.
Read more: Bloomberg news

U.S. Set for Taliban Talks as Afghan Military Takes Lead

The U.S. and the Taliban, deadly foes through 12 years of war in Afghanistan, executed a bit of choreographed diplomacy that sets the stage for initial peace negotiations to begin within days.
Read more: Bloomberg news

Obama Joins G-8 Allies Isolating Putin Over Assad

President Barack Obama and European allies moved to further isolate Russian president Vladimir Putin for supporting the regime in Syria even as the leaders sought a way to push both sides in that nation’s civil war into talks.
Read more: Bloomberg news

Voter Proof-of-Citizenship Law Voided by Supreme Court

The U.S. Supreme Court threw out an Arizona law requiring evidence of citizenship when people register to vote, in a victory for minority-rights advocates and the Obama administration.
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Yen Falls Second Day Versus Dollar Before Fed; Aussie Weakens

The yen weakened for a second day against the dollar before the Federal Reserve starts a two-day meeting today that may provide more information about when the central bank will start to reduce bond purchases.
Read more: Bloomberg news

Stocks Rise as Yen Falls Before FOMC; Natural Gas Soars

Stocks rose, while the yen weakened after its biggest weekly advance in four years, as investors weighed prospects for less economic stimulus before this week’s Federal Reserve meeting. Natural gas rebounded.
Read more: Bloomberg news

Boeing Bets on Jumbo Rebound While Some 747-8s in Desert

Boeing Co. said demand for the 747-8 jumbo jet, its largest and most-expensive model, will recover even as the company stashes some planes in desert storage and slows the production rate.
Read more: Bloomberg news

Airbus A380 Deal Starts Paris Show; 787-10X Lifts Boeing

Airbus SAS won a commitment from Doric Asset Finance Ltd. for 20 A380s worth $8.1 billion at list price, making the early running at the Paris Air Show with the biggest superjumbo deal for three years.
Read more: Bloomberg news

Friendships Die Hard for Hezbollah Angering Gulf Over Syria

Allegiances are proving costly for Islamic militant group Hezbollah as the war in Syria deepens the sectarian divide in the Middle East.
Read more: Bloomberg news

Czech Parties Seek PM After Spy Affair to Avoid Elections

The Czech Civic Democrats and their coalition partners are working to quickly replace Petr Necas as premier to keep the conservative government in power through 2014 and fend off Socialist attempts to force early elections.
Read more: Bloomberg news

Weyerhaeuser to Buy Longview Timber for $2.65 Billion

Weyerhaeuser Co., a U.S. real-estate investment trust that owns timberland, agreed to buy Longview Timber LLC for $2.65 billion including debt from affiliates of Brookfield Asset Management Inc. in the third-largest forestry acquisition in North America.
Read more: Bloomberg news

Central Banks’ Failure to Communicate Boosts Bond Yields

What central banks may have the world over is a failure to communicate.
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Shale Drillers Squeeze Costs as Era of Exploration Ends: Energy

The pioneers of America’s shale gas and oil revolution have done their work. Now it’s time for the factory crews to take over.
Read more: Bloomberg news

FX Rates Said to Face Global Regulation in Libor Review

Global regulators may start overseeing currency rates in a widening response to benchmark- rate setting scandals that began with revelations on the manipulation of Libor, according to two people familiar with the matter.
Read more: Bloomberg news

Rupert Murdoch Files for Divorce From Pie-Deflecting Wife

Rupert Murdoch, the 82-year-old billionaire chairman of News Corp., filed for divorce from his third wife, Wendi Deng Murdoch, who famously defended him from a pie-hurling assailant.
Read more: Bloomberg news

Gold Bears Return as ETP Rout Extends to 17th Week: Commodities

Gold traders turned bearish for the first time in a month as investors reduced holdings in exchange- traded products for an unprecedented 17th consecutive week and India, the biggest buyer, announced curbs on imports.
Read more: Bloomberg news

Global Stocks Slide on World Bank Outlook as Yen Rallies

Global stocks fell, sending the benchmark index to a seven-week low, and the yen strengthened after the World Bank cut its growth forecast. U.S. equities were little changed after reports showed retail sales rose more than forecast and jobless claims decreased.
Read more: Bloomberg news

Yen Surges Most Since 2008 on Nikkei Stock Bear Move, Flow Data

The yen surged, extending its largest three-day gain since 2008, as the Nikkei 225 Stock Average entered a bear market, spurring demand for less-risky assets.
Read more: Bloomberg news

Obama Quietly Raises 'Carbon Price' as Costs to Climate Increase

Buried in a little-noticed rule on microwave ovens is a change in the U.S. government’s accounting for carbon emissions that could have wide-ranging implications for everything from power plants to the Keystone XL pipeline.
Read more: Bloomberg news

Greece First Developed Market Cut to Emerging at MSCI

Greece became the first developed nation to be cut to emerging-market status by MSCI Inc. after the local stock index plunged 83 percent since 2007.
Read more: Bloomberg news

Turkish Police Retake Square Amid Clashes

Calm returned to central Istanbul this morning after a night of violence as police drove protesters out of Taksim Square.
Read more: Bloomberg news

Jiroemon Kimura, Oldest Man in Recorded History, Dies at 116

Japan’s Jiroemon Kimura, recognized by Guinness World Records as the oldest man in recorded history, has died at the age of 116.
Read more: Bloomberg news

Citigroup Facing $7 Billion Hit on Dollar Gain, Peabody Says

Citigroup Inc. could lose as much as $7 billion on currency swings if Charles Peabody is right, putting the analyst at odds with peers who say the stock will be the best performer among big U.S. banks in the year ahead.
Read more: Bloomberg news

India’s Rate-Cut Room Dented as Rupee Drops to Record: Economy

The slump in the rupee to a record low has narrowed the Reserve Bank of India’s scope to cut interest rates next week for a fourth straight meeting.
Read more: Bloomberg news

Yen Rallies After BOJ Keeps Policy Unchanged; Aussie Weakens

The yen rose more than 1 percent against all 16 of its major peers after the Bank of Japan refrained from introducing additional stimulus measures that tend to weaken a currency.
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Casino Dubai’s Rebound Pitch Ignored by Global Investors

Dubai is back with the big plans. What it doesn’t have are the biggest property investors.
Read more: Bloomberg news

London’s Forced Renters Fuel Apartment Investing Boom

Londoners are increasingly becoming renters whether they like it or not after the U.K. capital’s average home price passed 500,000 pounds ($778,000) last month.
Read more: Bloomberg news

Ex-CIA Employee Named as Source of Leaked NSA Reports

Edward Snowden, the ex-CIA worker who revealed a secret U.S. electronic surveillance program, says he likes Hong Kong’s independence and free speech. He may be about to learn about its extradition deal with the U.S.
Read more: Bloomberg news

Gold Bull Bets Reach Seven-Week High Before Retreat: Commodities

Hedge funds increased wagers on a gold rally to the highest in seven weeks before a report showing the U.S. added more jobs than forecast spurred the biggest retreat in prices since April.
Read more: Bloomberg news

No Inflation as Yields Jump Belies Point of No Return View

For the first time since 2009, U.S. bond yields are rising at the same time inflation is slowing, providing a cushion for investors in Treasuries whether or not the Federal Reserve slows the pace of its debt purchases.
Read more: Bloomberg news

Turkish Leader Defends Police Crackdown on Protesters

Turkish Prime Minister Recep Tayyip Erdogan brought his supporters onto the streets as he staged rallies in several cities including the capital Ankara, where police moved against protesters in the city center.
Read more: Bloomberg news

Apple Said to Start IPhone Trade-In Program in Stores

Apple Inc. is starting an iPhone trade-in program this month aimed at getting users to upgrade to the iPhone 5 and turn in older models, people with knowledge of the plans said.
Read more: Bloomberg news

Gold Traders Most Bullish Since Bear Market Began: Commodities

Gold traders are the most bullish since before the bear market began two months ago after a retreat in equities from an almost five-year high and a weakening dollar spurred demand for bullion.
Read more: Bloomberg news

Fed Seen Reducing Asset Buying by Smaller Amount

Economists cut their estimates for how much the Federal Reserve will reduce the amount of its monthly asset purchases, a Bloomberg survey shows.
Read more: Bloomberg news

Erdogan Defies Turkish Protesters in Show of Mass Backing

Prime Minister Recep Tayyip Erdogan returned to Turkey early today with a message of defiance for demonstrators gathered in the country’s two biggest cities, saying the government won’t turn a blind eye to “vandalism and illegality.”
Read more: Bloomberg news

BMW to Mercedes Skip Summer Breaks to Keep Plants Rolling

Daimler AG will skip traditional summer breaks at most of its car factories with models like the revamped Mercedes-Benz E-Class keeping assembly lines busy even as European auto demand slides to a 20-year low.
Read more: Bloomberg news

Euro Rises to Four-Week High as Draghi Says Economy Will Recover

The euro strengthened to a four-week high against the dollar as European Central Bank President Mario Draghi said the region’s economy should recover this year.
Read more: Bloomberg news

Global Stocks Tumble as Treasuries Rally, Yen Strengthens

Stocks tumbled, sending U.S. benchmark indexes to one-month lows, while Treasuries rallied as investors weighed weaker-than-forecast employment growth and prospects for Federal Reserve stimulus plans. The yen strengthened and shares plunged in Japan.
Read more: Bloomberg news

Apple Import Ban on Old IPhones Stokes Samsung Patent War

Apple Inc.’s first loss against Samsung Electronics Co. in a U.S. patent case could mean a ban on imports of some older devices including the iPhone 4 while lessening prospects of the largest smartphone makers ending their legal battles.
Read more: Bloomberg news

BP’s Oil Spill Deal Sours as Claims Add Billions to Cost

BP Plc’s $8 billion settlement with victims of the 2010 Gulf of Mexico spill may have hurt Europe’s second-largest oil company more than it helped.
Read more: Bloomberg news

How Michael Douglas Helps the Fight Against HPV

Michael Douglas may have done more for awareness about human papillomavirus than all the education programs health advocates have ever sponsored. The actor revealed this week that his throat cancer was caused by an HPV infection, the result of his having oral sex with an HPV- infected woman.
Read more: Bloomberg news

Spain’s Crisis Fades as Exports Transform Country

Victor Alberola Salcedo was shocked when the construction of a suburban Madrid train line was halted in 2010, terminating a contract for his 17-person company. It brought home the reality of the worst economy in his country’s more than 30 years of democracy.
Read more: Bloomberg news

Surprise Factory Downturn Holds Back U.S. Growth: Economy

Manufacturing in the U.S. unexpectedly shrank in May at the fastest pace in four years, showing slowdowns in business and government spending are holding back the world’s largest economy.
Read more: Bloomberg news

Bass Pro Billionaire Building Megastores With Boats, Guns

The Bass Pro Shops store in Rancho Cucamonga, California, is little more than an hour’s drive from Santa Monica, a West Coast enclave known for its anti-gun rallies and vegetarian cafes.
Read more: Bloomberg news

Michael Douglas Oral Sex Cancer Claim Spurs Vaccine Calls

Michael Douglas’s claim that oral sex led to his throat cancer is spurring calls to vaccinate more boys as well as girls against the human papilloma virus that causes the malignancy.
Read more: Bloomberg news

Senators Near Plan to Abolish Fannie Mae, Shrink U.S. Backstop

A bipartisan group of U.S. senators is putting the final touches on a plan to liquidate Fannie Mae and Freddie Mac and replace them with a government reinsurer of mortgage securities behind private capital.
Read more: Bloomberg news

U.S. Futures Rise as Swiss Franc, Turkish Shares Slides

U.S. stock-index futures advanced and Treasuries fell before a U.S. manufacturing report, while the the Swiss franc weakened and metals gained. Turkish shares tumbled and bond yields jumped amid anti-government protests.
Read more: Bloomberg news

China Nuclear Stockpile Grows as India Matches Pakistan Rise

China, which has the world’s second- largest military budget behind the U.S., expanded its nuclear- weapons arsenal last year, with India and Pakistan also bolstering their stockpiles, a research institute said.
Read more: Bloomberg news

Disputed Banksy Mural Sells for More Than $1.1 Million

A mural by Banksy which divided the art world after being removed from a London street sold last night at a private event in London for more than 750,000 pounds ($1.1 million).
Read more: Bloomberg news

Infosys Jumps Most Since January as Billionaire Murthy Returns

Infosys Ltd. surged the most in nearly five months after co-founder N.R. Narayana Murthy returned as chairman to spur growth that analysts project at half the pace compared with Tata Consultancy Services Ltd.
Read more: Bloomberg news

Japan Carriers Resume Dreamliner Flights as 747 Era Ends

ANA Holdings Inc. and Japan Airlines Co., the world’s two largest operators of Boeing Co. 787s, are counting on the Dreamliner to boost profits as the carriers dump their fleets of 747s that they relied on for decades.
Read more: Bloomberg news

Detroit Citizens Protect Themselves After Police Force Decimated

As crime hobbles Detroit’s attempts to revive itself, the city is bolstering its police department by having unarmed citizens patrol the streets in a program that costs less than annual salaries and benefits for three officers.
Read more: Bloomberg news

NYC Pension Chief Seeks $500,000 Managers to Cut Out Wall Street

New York City’s $140 billion retirement system pays Wall Street money managers about $360 million a year, the only one of the 11 biggest U.S. public- worker pensions that refuses to manage any assets internally. Larry Schloss, the city’s chief investment officer, says the practice must end.
Read more: Bloomberg news

Gates Widens Lead Over Slim as Richest Lose $27 Billion

The 200 richest people on the planet erased $26.6 billion from their collective net worth this week as Microsoft Corp. co-founder Bill Gates, 57, extended his lead over Mexico’s Carlos Slim as the world’s richest person to $4.3 billion, according to the Bloomberg Billionaires Index.
Read more: Bloomberg news