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Wells Fargo fails test of community lending: bank

March 28, 2017 by  
Filed under News

WASHINGTON (Reuters) – A U.S. bank regulator has flunked Wells Fargo on a national scorecard for community lending, the bank said on Tuesday as it tries to repair its reputation after a phony-accounts scandal.


Source: Reuters Business News

Exclusive: ECB replaces Brussels head, annuls four hires after rule breach

March 28, 2017 by  
Filed under News

FRANKFURT (Reuters) – The European Central Bank has replaced the head of its Brussels office and annulled four more appointments after staff complaints about unlawful hirings and promotions, internal documents seen by Reuters show.


Source: Reuters Business News

Tesla deal boosts Chinese presence in U.S. auto tech

March 28, 2017 by  
Filed under News

DETROIT (Reuters) – China’s Tencent Holdings Ltd has bought a 5 percent stake in U.S. electric car maker Tesla Inc for $1.78 billion, the latest investment by a Chinese internet company in the potentially lucrative market for self-driving vehicles and related services.


Source: Reuters Business News

Financials drag on Wall Street as Trump agenda weighed

March 27, 2017 by  
Filed under News

(Reuters) – Wall Street fell on Monday, dragged down by financial shares, but rebounded from steeper initial losses as investors assessed how the defeat of President Donald Trump’s first major legislative action would impact the rest of his agenda.


Source: Reuters Business News

U.S. top court considers changing where patent cases may be filed

March 27, 2017 by  
Filed under News

WASHINGTON (Reuters) – The U.S. Supreme Court on Monday struggled over whether to upend nearly 30 years of law governing patent lawsuits that critics say allows often-baseless litigants to sue in friendly courts, giving them the upper hand over high-technology companies such as Apple Inc and Alphabet Inc’s Google.


Source: Reuters Business News

Bill Gross settles Pimco lawsuit for about $81 million: sources

March 27, 2017 by  
Filed under News

NEW YORK (Reuters) – Bill Gross has reached a roughly $81 million settlement of his lawsuit against Pacific Investment Management Co, ending a bitter 2-1/2-year drama over the departure of the star bond investor from one of the world’s biggest money managers.


Source: Reuters Business News

Asset sales plan secures EU backing for $130 billion Dow, DuPont merger

March 27, 2017 by  
Filed under News

(Reuters) – Dow Chemical and DuPont won the blessing of the European Union for their $130 billion merger on Monday by agreeing to sell substantial assets including key research and development activities.


Source: Reuters Business News

Snap surges after IPO banks give flurry of 'buy' ratings

March 27, 2017 by  
Filed under News

(Reuters) – Shares of Snap Inc jumped over 5 percent on Monday after several of the Snapchat owner’s IPO underwriters handed it badly-needed “buy” ratings.


Source: Reuters Business News

China Southern Airlines in talks over American Airlines cooperation deal

March 26, 2017 by  
Filed under News

SHANGHAI (Reuters) – China Southern Airlines is negotiating a potential strategic tie-up with American Airlines that could involve a share issue and other forms of business cooperation, it said on Sunday.


Source: Reuters Business News

OPEC, non-OPEC to look at extending oil-output cut by six months

March 26, 2017 by  
Filed under News

KUWAIT (Reuters) – A joint committee of ministers from OPEC and non-OPEC oil producers has agreed to review whether a global pact to limit supplies should be extended by six months, it said in a statement on Sunday.


Source: Reuters Business News

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