The Traderszone Network

The U.S. economy is growing moderately after a winter swoon and likely strong enough to support an interest rate increase by the end of the year, but concerns remain over the recovery of the labor market, U.S. Federal Reserve officials said on Wednesday. With the economy still on track to grow as much as 2 percent for the year, the central bank’s latest policy statement keeps it on track for at least one and perhaps a second rate increase later this year.

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U.S. hedge fund Elliott ramped up its campaign against a proposed $8 billion merger of two Samsung Group [SAGR.UL] firms, creating a website to lay out its case and saying it wants corporate governance improvements rather than an unfair deal. The deal is a key step in Samsung Group’s ongoing efforts to ensure a stable leadership transfer for the founding Lee family.

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Wal-Mart, the world’s largest retailer, has assets worth at least $76 billion through shell companies domiciled in Luxembourg and the Netherlands, the report said. The report says Wal-Mart does not list these subsidiaries in its annual filings and called on the U.S. Securities and Exchange Commission to require disclosure to make the tax practices transparent to investors. Wal-Mart spokesman Randy Hargrove said the report contained erroneous information designed to mislead readers.

Among the shares expected to see active trade in Thursday’s session are those of Rite Aid, Red Hat and Smith & Wesson.
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Fitbit, the maker of wearable fitness-tracking devices, prices its initial public offering at $20 a share, above already raised expectations, according to a person familiar with the offering.
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Chinese buyers have surpassed Canadian snowbirds as the dominant foreign buyers of homes in the U.S., according to the National Association of Realtors.
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For the first time in more than a century, a woman’s face will appear on an American bill.