WASHINGTON (Reuters) – President Donald Trump’s personal attorney, Rudy Giuliani, was paid $500,000 for work he did for a company co-founded by the Ukrainian-American businessman arrested last week on campaign finance charges, Giuliani told Reuters on Monday. ... More »
MILAN (Reuters) – Mediobanca’s third-biggest investor Leonardo Del Vecchio called for it to get bigger through acquisition on Friday, stepping up his questioning of the Italian merchant bank’s strategy. The 84-year-old billionaire bought a 7% stake in Medioban... More »
(Reuters) – HSBC Holdings Plc (HSBA.L) is planning to cut up to 10,000 jobs, more than 4% of its workforce, as interim Chief Executive Officer Noel Quinn seeks to reduce costs across the banking group, the Financial Times reported on Sunday. The plan represent... More »
ZURICH/HONG KONG (Reuters) – The announcement by Julius Baer this week that it had hired five senior bankers from Credit Suisse underscores the challenge facing Chief Executive Tidjane Thiam as he seeks to reassure staff and investors in the wake of a spying s... More »
ZURICH (Reuters) – Credit Suisse (CSGN.S) cleared its CEO on Tuesday of snooping on a star wealth manager in an episode that saw suicide, scandal and espionage invade the secretive world of Swiss private banking. The spying on ex-wealth management chief Iqbal ... More »
NEW YORK (Reuters) – Morgan Stanley (MS.N) and Bank of America Corp (BAC.N) are expanding the employee-benefits services they offer, hoping to gain market share in the dull-but-reliable business of managing wealth for companies and employees. The banks, which ... More »
(Reuters) – Italy’s Tod’s appointed a former Google executive as chief digital and innovation officer to ramp up its ongoing digital transformation, the shoes and leather goods company said on Friday. Alessandra Domizi, previously the Industry Head – Fashion &... More »
SYDNEY (Reuters) – Australia’s AMP Ltd (AMP.AX) has lost at least one major pension contract while other companies are reviewing their relationship with the wealth manager, which has struggled to stem a client exodus following revelations of serious misconduct... More »
(Reuters) – Apple Inc (AAPL.O) said on Friday that Walt Disney Co (DIS.N) Chief Executive Officer Bob Iger had resigned from the company’s board of directors on Sept. 10 as the two companies prepare to compete head-to-head in the streaming television business.... More »
(Reuters) – Australia’s corporate regulator said on Wednesday it has been conducting long-term on-site monitoring at the offices of major banks and wealth manager AMP Ltd (AMP.AX) since October, after a probe into the sector revealed wide-ranging misconduct. T... More »
HANGZHOU, China (Reuters) – A tearful Jack Ma formally left Alibaba (BABA.N) on Tuesday, donning a guitar and a rock star wig at an event for thousands of employees of the e-commerce giant he founded 20 years ago in a small shared apartment in Hangzhou city in... More »
WEST ORANGE, N.J. (Reuters) – Megan Helsel, a kayaking wildlife specialist, has her dream job, and T’angelo Magee is making headway toward his, a commercial pilot. Both say work is central to their identity. Both are disabled. Americans with disabilities, phys... More »
BOSTON (Reuters) – Activist hedge fund Jana Partners on Friday disclosed a large new stake in Outback Steakhouse owner Bloomin’ Brands Inc , returning for the second time in nearly two years to push for fresh changes after reaching a settlement in 2018. Jana, ... More »
NEW YORK (Reuters) – The U.S. government on Thursday charged the founder of reverse mortgage provider Live Well Financial Inc with engineering a $140 million fraud by inflating the value of its bonds, in what he called a “self-generating money machine.” Michae... More »
ZURICH (Reuters) – UBS has least three candidates from inside the biggest Swiss bank who could eventually step into the CEO role, Chief Executive Sergio Ermotti said in a newspaper interview on Thursday on the heels of a big management reshuffle. “We have at l... More »
ZURICH (Reuters) – Swiss bank UBS will appoint former Credit Suisse banker Iqbal Khan as head of its wealth management business, Swiss newspaper TagesAnzeiger reported on Wednesday, citing unnamed UBS sources. Khan will join the executive board “shortly” the n... More »
(Reuters) – Papa John’s International Inc (PZZA.O) is set to name Rob Lynch as the pizza chain’s new chief executive officer, Bloomberg reported late on Monday, barely 19 months after Steve Ritchie took over as top executive following a bitter board dispute. L... More »
NORMAN, Okla./BOSTON (Reuters) – An Oklahoma judge on Monday ordered Johnson & Johnson (JNJ.N) to pay $572.1 million to the state for its part in fueling an opioid epidemic by deceptively marketing addictive painkillers, a sum that was substantially less than ... More »
HONG KONG/SINGAPORE (Reuters) – Cathay Pacific (0293.HK) shares were choppy in opening trade on Monday after the shock exit of CEO Rupert Hogg, as the airline grapples with mounting Chinese scrutiny over the involvement of some of its staff in anti-government ... More »
VIENNA (Reuters) – An unnamed Novartis executive sold 925,400 Swiss francs ($946,000) worth of shares less than three weeks before the U.S. Food and Drug Administration (FDA) announced data from tests of its gene therapy Zolgensma had been manipulated. Novarti... More »
STOCKHOLM (Reuters) – U.S. rapper A$AP Rocky was convicted in Sweden on Wednesday of assault over a Stockholm street brawl, but spared time in jail after a high-profile trial that had led President Donald Trump to accuse Sweden of treating him unfairly. A$AP R... More »
BOSTON (Reuters) – Two new BlackRock Inc funds that exclude gun makers are off to slow starts as socially-minded investors embrace other products addressing a wide range of issues like environmental and governance concerns, according to flow data at the world’... More »
(Reuters) – Wells Fargo & Co said on Wednesday Julia Wellborn will become the head of Private Wealth Management, ending a months-long search for a leader following the retirement of Jay Welker last year. Wellborn joins Wells Fargo from Comerica Bank where she ... More »
LONDON (Reuters) – British retailer Sports Direct (SPD.L) has delayed publishing its annual results, warning problems integrating its purchase of House of Fraser stores and increased scrutiny of its accounts could affect the financial guidance it gave in Decem... More »
OSLO (Reuters) – Norwegian telecoms group Telenor (TEL.OL) said its second-quarter earnings would take a hit from “errors” discovered at Grameenphone GRAE.DH, its Bangladeshi telecoms division. “Grameenphone has discovered some erroneous omissions with regards... More »
BOSTON (Reuters) – Brothers Toby and Derek Rice are on course to win control of EQT Corp’s board of directors two years after having sold their own company, Rice Energy, to the natural gas producer, people familiar with the matter said on Tuesday. Enough votes... More »
ZURICH (Reuters) – Julius Baer (BAER.S) has appointed Philipp Rickenbacher as its new chief executive officer, the Swiss private bank said on Monday, opting for a company insider to drive the wealth manager’s future growth. His appointment is the latest leader... More »
LOS ANGELES (Reuters) – Theranos founder Elizabeth Holmes and her former second-in-command at the Silicon Valley blood-testing startup were ordered on Friday to stand trial next year on fraud charges stemming from their claims about the company’s technology, c... More »
WASHINGTON (Reuters) – The U.S. House of Representatives Ethics Committee said on Friday it will investigate Republican lawmaker Matt Gaetz after allegations he tried to threaten and influence the congressional testimony of President Donald Trump’s former lawy... More »
NEW YORK (Reuters) – A former executive of collapsed Dubai private equity firm Abraaj Capital Ltd on Friday pleaded guilty to U.S. fraud and conspiracy charges, admitting that he lied to investors about the firm’s financial health and track record. Former Abra... More »
NEW YORK (Reuters) – A federal judge in Manhattan on Friday threw out the 2013 insider trading guilty plea of a former trader at SAC Capital Advisors LP, the hedge fund once run by billionaire Steven A. Cohen, saying recent changes in the law meant there were ... More »
BOSTON (Reuters) – HomeStreet Inc defeated Roaring Blue Lion Capital Management’s campaign to unseat one director and install its own candidate, ending a two-year standoff between the financial services company and the activist investor, the company said on Th... More »
BEIJING/SHANGHAI (Reuters) – China’s Alibaba Group Holding Ltd on Tuesday unveiled its most significant business reshuffle since co-founder Jack Ma announced his pending retirement, as the e-commerce firm looks to bolster its investment focus in the face of sl... More »
SYDNEY (Reuters) – Australia’s banking watchdog on Friday said it had imposed stricter licensing conditions on AMP Ltd’s pension fund units following concerns regarding its compliance with superannuation laws, sending its shares down more than 4%. The move com... More »
PARIS/TOKYO (Reuters) – Renault has signaled it will block alliance partner Nissan from adopting planned governance reforms unless the French automaker gets more say in the new system, a demand which Nissan said was “most regrettable” and which one source deri... More »
PARIS (Reuters) – Fiat Chrysler Automobiles NV and Renault SA are looking for ways to resuscitate their collapsed merger plan and secure the approval of the French carmaker’s alliance partner Nissan Motor Co Ltd , according to several sources close to the comp... More »
PARIS (Reuters) – Nissan Motor Co believes that attempts by Renault SA to place one of its directors on Nissan’s planned governance reform committees may lead to a conflict of interest, a source with knowledge of the issue told Reuters on Monday. Renault, whic... More »
WASHINGTON (Reuters) – U.S. President Donald Trump announced on Saturday that a member of his legal team, Emmet Flood, will leave his post later this month after helping him handle the investigation into Russian interference in the 2016 election campaign. “Emm... More »
FRANKFURT (Reuters) – Uniper’s chairman on Sunday said talks with major shareholder Fortum to resolve a dispute between the two companies were on hold after two of the German utility’s board members resigned. Fortum and Uniper have been at loggerheads since th... More »
WASHINGTON (Reuters) – Deutsche Bank AG and Capital One Financial Corp will not have to immediately hand over the financial records of U.S. President Donald Trump, three of his children and the Trump Organization, according to a court filing on Saturday. The f... More »
(Reuters) – Amazon.com Inc shareholders overwhelmingly rejected a proposal that the company stop selling facial recognition technology to government agencies, while a resolution to audit the service drew more support, a regulatory filing on Friday showed. Some... More »
SAN FRANCISCO (Reuters) – Uber’s first employee and one-time chief executive Ryan Graves will step down from the company’s board of directors, Uber said on Friday. Graves this week informed the company of his intention to resign from the board, beginning Monda... More »
(Reuters) – Purplebricks Group Plc named Phil Felice as the interim boss of its U.S. operations on Monday to oversee the online estate agent’s review of the business and said it was optimistic about the future of the business. Purplebricks had said earlier thi... More »
(Reuters) – Huawei Technologies’ founder and chief executive Ren Zhengfei said on Saturday the growth of the Chinese tech giant “may slow, but only slightly” due to recent U.S. restrictions. In remarks to the Japanese press and reported s.nikkei.com/2VMJSaT by... More »
(Reuters) – Some of the biggest, highest-profile U.S. hedge fund investors and money managers fell back in love with FAANGs in the first quarter, according to regulatory filings released on Wednesday. After dumping shares of Facebook Inc, Apple Inc, Amazon.com... More »
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc said it owned $860.6 million of Amazon.com Inc shares at the end of March, after the billionaire admitted to underestimating the online retailer and its Chief Executive Jeff Bezos. The size of the investment ... More »
NEW YORK (Reuters) – Nelson Peltzs’ Trian Fund Management LP may push Legg Mason Inc. to implement changes to boost returns, a person familiar with the matter said on Tuesday, the second time in 10 years that Trian has targeted the mutual fund company. The two... More »
TOKYO (Reuters) – Japan Display Inc said on Monday that a planned investment of up to 80 billion yen ($729.33 million) from a Chinese-Taiwanese group will be delayed as the investor group wants to reassess the ailing display maker’s business. The investment is... More »
PARIS (Reuters) – Eyewear group EssilorLuxottica said it had resolved a dispute between its feuding French and Italian partners, and would push on in its search for a new chief executive and its aims to centralize various new corporate functions. The resolutio... More »
(Reuters) – Huawei Technologies Co Ltd lawyer James Cole’s prior work at the U.S. Department of Justice created conflicts of interest that should disqualify him from defending the Chinese company in a case of alleged bank fraud and sanctions violations, U.S. p... More »
DUBAI (Reuters) – U.S. private equity firm TPG said on Thursday it has signed a definitive agreement to takeover the management of a healthcare fund, previously managed by collapsed private equity firm Abraaj. The fund will be renamed Evercare Health Fund, it ... More »
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc on Wednesday said a $377 million charge it incurred recently was tied to a solar generation company that U.S. authorities have linked to fraud. Berkshire said in its first-quarter report on Saturday it had in... More »
SYDNEY (Reuters) – Australia’s Treasury Wine Estates Ltd, the world’s largest standalone winemaker, said on Monday it had won a lawsuit against a “copycat” it had accused of imitating its prestigious Penfolds brand in China. China is Australia’s largest wine e... More »
NEW YORK (Reuters) – Two committees of the Democrat-controlled U.S. House of Representatives on Friday asked to intervene in a lawsuit filed by President Donald Trump, his three oldest children and the Trump Organization seeking to block House subpoenas seekin... More »
(Reuters) – A panel of three federal judges on Friday ruled that Ohio’s Republican-drawn congressional map is an unconstitutional partisan gerrymander and ordered the state to revamp it before the 2020 presidential election. The ruling comes a week after anoth... More »
BEVERLY HILLS, Calif. (Reuters) – An activist hedge fund on Tuesday nominated five directors and urged insurance company Argo Group International Holdings Ltd to cut $100 million in expenses, including corporate jets and housing for its chief executive. Voce C... More »
TOKYO (Reuters) – Japanese prosecutors indicted former Nissan Motor Co Chairman Carlos Ghosn on Monday on a charge of aggravated breach of trust, a Tokyo court said, bringing a fourth charge against him on the day his detention period was set to expire. Ghosn’... More »
TOKYO (Reuters) – Carlos Ghosn on Monday applied for bail following his latest indictment over aggravated breach of trust, as the former Nissan Motor Co chairman fights his fourth indictment over financial misconduct. Ghosn’s defense team filed the bail reques... More »
LONDON (Reuters) – The new managers of Columna Commodities Fund, a Luxembourg hedge fund which went into liquidation in early 2017, have said they are suing its former managers Alter Domus for $56 million in lost assets and fees. Columna, launched in 2013, was... More »
LONDON (Reuters) – Mike Lynch, once hailed as Britain’s answer to Bill Gates, faces Hewlett-Packard (HP) in London’s High Court on Monday in a multi-billion dollar showdown over the U.S. technology company’s 2011 purchase of the Autonomy software business he f... More »
(Reuters) – U.S. prosecutors on Friday added three new criminal charges to their indictment against British entrepreneur Mike Lynch related to the $11.1 billion sale of his software company Autonomy to Hewlett-Packard in 2011. Lynch faces a new charge of secur... More »
PARIS (Reuters) – The board of French oil and gas major Total has proposed total 2018 compensation for Chief Executive Patrick Pouyanne of 3.1 million euros ($3.55 million), compared with 3.8 million in 2017, company documents showed on Wednesday. The total pa... More »
NEW YORK (Reuters) – The figure at the center of the U.S. college cheating scandal spoke twice in the past decade at events hosted by Pacific Investment Management Co (Pimco), one of the world’s largest asset managers whose former chief executive is ensnared i... More »
(Reuters) – Advantage Lithium Corp said on Thursday it has temporarily replaced Chief Executive David Sidoo as he battles U.S. fraud charges connected to a sweeping college admissions scandal. The company has named board member Callum Grant, an engineer by tra... More »
NEW YORK (Reuters) – TPG Capital senior executive Bill McGlashan on Thursday left the private equity firm after he was charged in connection with a U.S. college fraud scheme that has ensnared Hollywood celebrities and corporate elite. It is the latest fallout ... More »
TOKYO (Reuters) – A Tokyo court on Monday denied ousted Nissan boss Carlos Ghosn’s request to attend a board meeting this week, broadcaster NHK reported, blocking what would have been a dramatic face off with the colleagues he has accused of fomenting a coup. ... More »
TOKYO (Reuters) – A Tokyo court denied former Nissan Motor boss Carlos Ghosn’s request to attend the automaker’s board meeting this week, days after he was released from detention on a $9 million bail, national broadcaster NHK reported on Monday. Ghosn, who wa... More »
SYDNEY (Reuters) – Australia’s corporate watchdog rebuked the biggest banks and financial services firms on Monday for delays in fixing internal systems that resulted in customers paying fees for services they had not received. The Australian Securities and In... More »
TOKYO (Reuters) – The lawyer for former Nissan Motor Chairman Carlos Ghosn on Monday said he was optimistic the ousted executive could win bail soon and said he would pursue a different defense strategy against charges of financial conduct. Junichiro Hironaka,... More »
TOKYO (Reuters) – The lawyer for former Nissan Motor Co Ltd Chairman Carlos Ghosn on Monday said he was optimistic the ousted executive could win bail in the near future, after being held in custody at a detention center in Japan for over three months. “I beli... More »
OTTAWA (Reuters) – The lawyers for Huawei Chief Financial Officer Meng Wanzhou are suing the Canadian government, its border agency and federal police, alleging their client was detained, searched and interrogated for three hours in violation of her constituti... More »
NEW YORK (Reuters) – PG&E Corp investor BlueMountain Capital Management LLC on Friday named 13 people it hopes to install as directors at the embattled power utility weeks after the company filed for bankruptcy in the wake of California’s catastrophic wildfire... More »
BOSTON (Reuters) – Top U.S. pension funds are asking electric utilities to accelerate efforts to cut carbon emissions but will not force the issue with proxy resolutions this spring, hoping market shifts and falling prices for renewable energy have already mad... More »
NEW YORK (Reuters) – Wells Fargo & Co is engaged in preliminary exploratory resolution discussions with the U.S. Department of Justice and the U.S. Securities and Exchange Commission about inquiries into its sales practices, the bank said on Wednesday. Wells F... More »
STOCKHOLM (Reuters) – Swedbank said on Tuesday it had hired external forensic auditors to investigate information in a media report linking the bank to a Baltic money laundering scandal, replacing recently appointed audit firm EY. Sweden’s public broadcaster a... More »
SAN FRANCISCO (Reuters) – The U.S. Securities and Exchange Commission (SEC) is pursuing a contempt order against Tesla Inc CEO Elon Musk, saying he violated a fraud settlement by tweeting material information without preapproval, sending the firm’s shares down... More »
(Reuters) – Warren Buffett said on Monday his Berkshire Hathaway Inc overpaid in the 2015 merger that created Kraft Heinz Co, but he had no plans to flee the struggling packaged foods company. Buffett spoke four days after Kraft Heinz took a $15.4 billion writ... More »
(Reuters) – The Oracle of Omaha, Warren Buffett, admitted on Monday he knew less than he thought about Oracle Corp, the company overseen by fellow billionaire Larry Ellison. Investors were flummoxed earlier this month when Buffett’s company, Berkshire Hathaway... More »
FRANKFURT (Reuters) – A key euro zone banking supervision role is set to go unfilled for an indefinite time after ECB chief Mario Draghi failed to pick a successor in an unprecedented impasse at the crucial euro zone institution, sources familiar with the matt... More »
FRANKFURT/SINGAPORE (Reuters) – Singapore police raided the premises of German payments company Wirecard in the city state on Friday following a series of investigative reports in the Financial Times alleging fraud and creative accounting. The raid intensified... More »
WASHINGTON (Reuters) – Acting U.S. Attorney General Matthew Whitaker has agreed to testify on Friday before the House Judiciary Committee, the Justice Department said on Thursday, after he threatened to not show up following the panel’s warning that it could s... More »
NEW YORK (Reuters) – Shares of Chipotle Mexican Grill have surged over 70 percent over the last 12 months, but some U.S. fund managers are waiting for Feb. 6 earnings results to confirm that the burrito-chain is truly back from its 2015 food safety crisis. The... More »
TOKYO (Reuters) – Nissan Motor Co Ltd on Monday said it was the target of a U.S. Securities and Exchange Commission (SEC) inquiry, as the Japanese automaker itself faces scrutiny in a financial scandal it has blamed on ousted chairman Carlos Ghosn. Nissan has ... More »
WASHINGTON (Reuters) – U.S. President Donald Trump’s administration on Sunday lifted sanctions on aluminum giant Rusal and other Russian firms linked to oligarch Oleg Deripaska, defying a Democratic-led push in the U.S. Congress to maintain the restrictions. E... More »
(Reuters) – PG&E Corp shareholder BlueMountain Capital Management LLC said on Thursday it is preparing a challenge to the embattled utility owner’s board, arguing its plan to file for bankruptcy in the wake of catastrophic wildfires in California is harming in... More »
STOCKHOLM (Reuters) – The scandal-plagued Swedish body that awards the Nobel Prize for literature said on Friday that one of its members would leave after an investigation determined she had leaked the names of winners. The poet Katarina Frostenson and her pho... More »
(Reuters) – The chief executive officer of Myntra and Jabong, a unit of Walmart-owned Flipkart, Ananth Narayanan has left the company to pursue external opportunities, Myntra said on Monday. Narayanan is in talks to replace Ajith Mohan as the chief executive o... More »
(Reuters) – Investment bank Perella Weinberg Partners plans to name Peter Weinberg as its chief executive officer with current CEO Robert Steel set to become the company’s chairman, a person familiar with the matter told Reuters on Thursday. Weinberg founded t... More »
(Reuters) – Qualcomm Inc (QCOM.O) on Tuesday responded to comments Apple Inc (AAPL.O) Chief Executive Tim Cook made in an interview, in which he said there had been no recent settlement talks between the iPhone maker and chip supplier in their global legal bat... More »
WASHINGTON (Reuters) – Fiat Chrysler Automobiles NV (FCHA.MI) is nearing a settlement to resolve the U.S. Justice Department’s allegations that the Italian-American automaker used illegal software to allow 104,000 U.S. diesel vehicles to pollute beyond legal l... More »
ZURICH (Reuters) – Credit Suisse has settled a 2012 New York state lawsuit alleging misconduct over residential mortgage-backed securities (RMBS), with a source familiar with the deal saying the bank would pay much less than prosecutors had originally sought. ... More »
(Reuters) – Last March, a 103-year-old resident of a Sunrise Senior Living facility in Willowbrook, Illinois, went on a field trip to the movies. Ruth Smith, who used a walker, fell down two concrete steps in the theater and died about six weeks later. Now Smi... More »
KUALA LUMPUR (Reuters) – Malaysia is seeking $7.5 billion in reparations from Goldman Sachs Group Inc (GS.N) over its dealings with scandal-linked state fund 1MDB, the Financial Times (FT) reported on Friday, citing the finance minister. Separately, Bloomberg ... More »
CHICAGO (Reuters) – Campbell Soup Co (CPB.N) said on Friday that incoming Chief Executive Mark Clouse, a food industry veteran, could be paid as much as $7.4 million in compensation for fiscal 2019. Clouse, the former chief of frozen food maker Pinnacle Foods,... More »
NEW YORK (Reuters) – The U.S. Securities and Exchange Commission said on Friday it had settled charges with automated investment management providers Wealthfront Advisers LLC and Hedgeable Inc to resolve allegations that the companies had made false disclosure... More »
TOKYO (Reuters) – Tokyo prosecutors indicted ousted Nissan Motor (7201.T) chairman Carlos Ghosn for under-reporting his income and also officially charged the automaker, making the firm culpable for the financial misconduct scandal that has shocked the industr... More »
TORONTO/BEIJING (Reuters) – A top executive of Chinese tech giant Huawei Technologies is due back in a Canadian court on Monday where she’ll fight for her freedom with the help of pressure from Beijing against prosecutors’ claims she cannot be trusted. Huawei ... More »
NAIROBI (Reuters) – A Kenyan court on Monday charged senior officials from the state-run oil pipeline and others from the state health insurance fund for abuse of office and economic crimes that led to the loss of billions of shillings from the two institution... More »
TOKYO (Reuters) – The head of the state-backed $18 billion Japan Investment Corp (JIC), Masaaki Tanaka, said on Monday he and eight other board members would resign citing distrust of the trade ministry after a dispute over their pay. The resignations throw in... More »
TORONTO (Reuters) – A top executive of China’s Huawei Technologies Co Ltd [HWT.UL] argued that she should be let out on bail while awaiting an extradition hearing due to severe hypertension and fears for her health while incarcerated in Canada, court documents... More »
