'Flash crash' accused trader due back in court after failing to raise bail (Reuters)
Navinder Sarao, the British trader accused of helping provoke the 2010 Wall Street "flash crash", is due to appear in a London court on Wednesday after failing to raise the bail needed to secure his release from custody, a court official said.
Fed Seen Delaying Liftoff to September to Push Down Unemployment (Bloomberg)
Policy makers meeting on Tuesday and Wednesday in Washington will assess the impact of a harsh winter and a stronger dollar, which may have helped reduce the pace of economic growth to the lowest in a year, economists said. A hiring slowdown last month is adding to caution inside the Federal Open Market Committee, said Thomas Costerg at Standard Chartered Bank in New York.
Analyst Says Apple Will Go to $195, Watch Will Be Its Best-Selling New Product Ever (Bloomberg)
One of the analysts who is raising price targets is Brian White of Cantor Fitzgerald. White gives Apple a new target of $195 from a previous $180. The new price is currently the highest among analysts surveyed by Bloomberg and gives Apple a market cap of roughly $1.1 trillion.
Tsipras Says Greek People May Have to Rule on Final Deal (Bloomberg)
In a late-night interview on Star TV on Monday, Tsipras said his mandate is to negotiate an accord with euro-area member states and the International Monetary Fund “that won’t repeat the vicious circle of austerity, misery and pillage; a solution with prospects and within the European framework.” If the deal “exceeds that mandate,” then “Greek people will have to decide, obviously not through elections,” he said when asked about the possibility of a snap poll or a referendum.
Single Mom Fired Before First Day Over Facebook Post (DFW)
The 27-year-old was excited about working, but not necessarily as thrilled about the job. She posted on Facebook: “I start my new job today, but I absolutely hate working at day care.”
SEC Investigating Whether Bank of America Broke Customer-Protection Rules (WSJ)
The Securities and Exchange Commission is investigating whether Bank of America Corp. broke rules designed to safeguard client accounts, potentially putting retail-brokerage funds at risk in order to generate more profits, according to people familiar with the inquiry. For at least three years, the bank used large, complex trades and loans to save tens of millions of dollars a year in funding costs and to free up billions of dollars in cash and securities for trading that Bank of America otherwise would have needed to keep off-limits, these people said.
CIT Misses Profit, Sales Expectations (WSJ)
The New Jersey-based bank reported earnings of $103.7 million, down from $117.2 million a year earlier. On a per-share basis, CIT reported a profit of 59 cents, unchanged from the previous year’s first quarter due to a lower share count. Revenue increased 7.9% to $423.8 million. Analysts expected 73 cents in per-share profit and $456.7 million in revenue, according to Thomson Reuters.
Nepal Says Earthquake Rebuilding Cost to Exceed $10 Billion (Bloomberg)
Right now the government is struggling to save those who may still be trapped more than 72 hours after the 7.8 magnitude temblor struck the Himalayan nation. The death toll has already exceeded 4,300 and could climb beyond 6,000, Mahat said in an interview on Tuesday.
Barclays Center Prepares to Go Green (WSJ)
Hundreds of thousands of plants will be moved to the top of Barclays Center starting this week, the final stage in a plan to complete the largest green roof ever put on a sports arena in the U.S. Three acres of sedum, a flowering plant that is drought-tolerant and requires little maintenance, will be brought to the arena from Connecticut. The plants will cut down on noise from Barclays events and improve views for residents of apartment buildings that developer Forest City Ratner Cos. is planning for the area.
Iowa capitol building evacuated over burnt mac and cheese (UPI)
Iowa state government workers were forced to evacuate the Capitol building in Des Moines, Iowa, on Monday, after someone's lunch set off the smoke alarm. Alarms went off around 11 a.m., when an area near the Senate chamber started to smell of smoke. The odor was traced to a microwave and a burnt bowl of Kraft Easy Mac...Des Moines Register reporter William Petroski tweeted a photo of the bowl that prompted the smoke alarm. He said no one was injured.