Greek Leaders Say Deal Is Within Reach Amid (Bloomberg)
Greek leaders expressed optimism a deal to unlock bailout funds is within reach, in the face of continuing warnings by creditors that the country has yet to comply with the terms of its emergency loans. “We are very close” to an agreement, Finance Minister Yanis Varoufakis said in an interview late Monday with Greece’s Star TV Channel. “I’d say it is a matter of one week.”
Europe Is Struggling to Foster a Startup Culture (WSJ)
As Internet firms push farther into the terrain of mainstream industries, from publishing to telecoms, policy makers in Europe are increasingly concerned about the lack of home-grown rivals to compete against dominant U.S. players like Google Inc. and Facebook Inc. Their solution: knit the region’s 28 national ecosystems together into a vast digital market that could become a breeding ground for the Web giants of the future.
Years of Overlooked Red Flags Catch Up to Stockbroker (Dealbook)
In most professions, it would take only one or two acts of egregious conduct before troubled employees were shown the door. In the case of one stockbroker who has repeatedly had complaints from investors, it took 69 customer disputes filed over the last 13 years before he was barred from the business...Last month, the F.B.I. charged Mr. Cicolani with selling unregistered securities to 39 investors who lost $7 million. (Mr. Cicolani pocketed $5 million in commissions, authorities say). On May 1, he pleaded guilty to two criminal counts, including one count of selling unregistered securities, in United States District Court for the Northern District of Ohio.
Many on Wall Street Say It Remains Untamed (Dealbook)
In the study, to be released Tuesday, about a third of the people who said they made more than $500,000 annually contend that they “have witnessed or have firsthand knowledge of wrongdoing in the workplace.” Just as bad: “Nearly one in five respondents feel financial service professionals must sometimes engage in unethical or illegal activity to be successful in the current financial environment.” One in 10 said they had directly felt pressure “to compromise ethical standards or violate the law.” And nearly half of the high-income earners say law enforcement and regulatory authorities in their country are ineffective “in detecting, investigating and prosecuting securities violations.”
MBTA oral sex suspects on the loose (Metro)
An alarmed MBTA passenger snapped a photograph Friday of what appears to be two people engaging in oral sex on a T platform and sent to it transit police on social media demanding action. "Dear MBTA, I understand you are having financial problems and it is difficult to maintain a broken system, however my tax dollars should be going to pay your police force because I shouldn't have to stand next to a man receiving oral sex," wrote the irate passenger. The incident allegedly happened around 7:30 p.m. at State Street station, according to authorities. Transit Police Lt. Richard Sullivan said the agency shares the woman's disgust, and that investigators will exhaust all resources to identify, locate and arrest the suspects. "We're not going to tolerate this," Sullivan said. "In my 20 years on the job I’ve very rarely encountered something as brazen as this."
U.S. economy isn't as weak as estimates suggest, Fed paper says (Reuters)
A government report late last month put first-quarter growth at a mere 0.2 percent, far below economists' expectations and uncomfortably close to an outright contraction like that experienced in the first quarter of 2014. But by running a series of statistical corrections for the way the government accounts for seasonal variations in output, the paper's authors found "a good chance that underlying economic growth so far this year was substantially stronger than reported." A chart in the paper suggested first-quarter growth may have been closer to 1.8 percent. That's still below the economy's potential but not dramatically so.
US Bank, Bank of America win dismissal of mortgage claims (Reuters)
U.S. Bancorp and Bank of America Corp won a dismissal of claims in lawsuits accusing them of breaching their duties as trustees for residential mortgage-backed securities that suffered losses tied to the global financial crisis. The dismissals came in three decisions late Monday by U.S. District Judge Katherine Forrest in Manhattan.
Bacon Is So Cheap, Even Veggie Burgers Get Two Strips (Bloomberg)
Bacon is having its moment. It’s always been popular, but now, driven by reduced cost, innovative concoctions, the protein-rich Paleo Diet and a worldly younger generation willing to try anything once, twice if they like it, that popularity has exploded. Last year, a piglet-killing virus shrank U.S. hog herds, sending futures prices to all-time highs, and farmers scrambled to capture those profits.
Big Rig Carrying Sour Cream Overturns on Ore. Highway (AP)
When a tractor-trailer rig loaded with 80,000 pounds of dairy products overturned on an Oregon highway southeast of Eugene, the main problem did not seem to be spilled milk but sour cream — lots and lots of sour cream. The Register-Guard of Eugene reports that Oregon State Police spokesman Bill Fugate says the truck driver apparently failed to negotiate a curve Monday morning on Oregon Highway 58 and rolled the rig onto its side. The driver was unhurt. The crash near Oakridge didn't block the highway but the fuel tanks needed to be pumped and the cargo removed before the truck could be pulled upright and removed. Oregon highway officials first thought the primary product was cheese but later determined it was mostly sour cream. They were trying to salvage as much as possible for nonprofit agencies.