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Explainer: How does extradition to the U.S. work?

(Reuters) – The arrest in Canada of a top Chinese technology executive for possible extradition to the United States has roiled markets and cast doubt on a recent U.S.-China trade truce. Huawei Technologies Co Ltd Chief Financial Officer Meng Wanzhou, who is a... More »

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Ex-FBI head Comey drops challenge to House panel subpoena

WASHINGTON (Reuters) – Former FBI Director James Comey on Sunday withdrew his bid to quash a congressional subpoena compelling him to testify in secret about the bureau’s decisions on investigations ahead of the 2016 presidential election, his lawyer said. Com... More »

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Fiat Chrysler loses another executive after Marchionne illness

MILAN (Reuters) – Fiat Chrysler’s (FCHA.MI) European boss has quit, adding to the problems facing new CEO Mike Manley who must deliver on promises to boost production of SUVs and catch up with rivals in electric cars. Jeep division head Manley was named on Sat... More »

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BlackRock replaces Americas corporate governance leader

BOSTON (Reuters) – Top asset manager BlackRock Inc (BLK.N) has hired Ray Cameron as head of the Americas within its investment stewardship arm, according to a memo seen by Reuters on Thursday, turning to an outsider to fill the role left vacant since last year... More »

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Fuji Xerox chief sees no breakup of Fujifilm-Xerox JV

TOKYO (Reuters) – The head of Fuji Xerox Co Ltd, the joint venture between Fujifilm Holdings Corp (4901.T) and Xerox Corp (XRX.N), on Tuesday said an escalating dispute between the partners will not lead to the venture’s dissolution. “I’m confident a breakup w... More »

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Former Goldman Sachs banker in 1MDB plea talks with U.S.: WSJ

SINGAPORE (Reuters) – A former Goldman Sachs Group Inc. (GS.N) banker is in talks with U.S. prosecutors to potentially plead guilty to criminal charges stemming from an alleged scheme to steal billions of dollars from a Malaysian state investment fund, the Wal... More »

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Trump focused on Kavanaugh, Kethledge for Supreme Court: source

WASHINGTON (Reuters) – Conservative federal appeals court judges Brett Kavanaugh and Raymond Kethledge are the two most serious contenders being considered by President Donald Trump for the U.S. Supreme Court, a source familiar with the process said on Thursda... More »

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Loeb pressures Nestle for more sales, restructuring

BOSTON (Reuters) – Billionaire investor Daniel Loeb on Sunday stepped up pressure on food group Nestle SA (NESN.S), in a letter that urged its board to be “sharper,” “bolder” and “faster” in spinning off businesses and untangling its complex management structu... More »

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Manafort assistant gave FBI access to storage locker: testimony

ALEXANDRIA, Va. (Reuters) – A personal assistant to Paul Manafort granted the FBI access to a storage locker, allowing the government to secure evidence that President Donald Trump’s former campaign manager is trying to suppress, according to testimony on Frid... More »

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Hedge fund Voce’s nominees elected to Natus board

(This version of the June 22 story corrects paragraph 3 to say Weiss was a nominee and had not previously served on Natus’ board) (Reuters) – Natus Medical Inc said on Friday its stockholders had elected hedge fund Voce Capital Management’s nominees to the com... More »

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Former State Street executive faces U.S. fraud trial

BOSTON (Reuters) – A former executive at State Street Corp (STT.N) is set to face trial on U.S. charges that he participated in a scheme to defraud the bank’s clients by charging them secret commissions on billions of dollars in trades. Jury selection is sched... More »

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Big Tesla investors look like firewall for Elon Musk

(Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk faces votes at Tuesday’s shareholder meeting that will challenge his grip on the electric carmaker, but he may be able to count on some powerful friends: big fund managers likely to be fans. These stockp... More »

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Jay-Z defeats copyright claims over ‘Big Pimpin”

(Reuters) – A federal appeals court on Thursday awarded a victory to Jay-Z in a copyright infringement lawsuit claiming that the rapper sampled without permission from an Egyptian composer’s song for his 1999 hit “Big Pimpin’.” The 9th U.S. Circuit Court of Ap... More »

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India Uber president to head Asia Pacific operations

NEW DELHI (Reuters) – Uber’s India President Amit Jain has been promoted to head of the global ride-hailing firm’s Asia Pacific operations, which includes Australia, New Zealand, Japan, Hong Kong and India, the company said in an emailed statement. Jain will c... More »

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Deutsche Bank looks to cut 10,000 jobs to reduce costs: source

FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) plans to cut 10,000 jobs, or about a tenth of its global workforce, as part of efforts to reduce costs, a person with knowledge of the matter said on Wednesday. The German bank’s supervisory board met on Wednesday... More »

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Prosecutors dismiss criminal charge against Missouri governor

(Reuters) – St. Louis prosecutors on Monday dismissed the criminal invasion of privacy charge against Missouri Governor Eric Greitens before his trial got under way but said they would refile the case, which grew out of a sex scandal involving the governor. Th... More »

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Amazon adopts new policy to promote board diversity

(Reuters) – Amazon.com Inc on Monday said it is adopting a new policy to promote diversity in its board of directors, saying that women and minorities are to be among the company’s board nominees. “The Amazon Board of Directors has adopted a policy that the No... More »

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Majority of Sturm Ruger investors vote for gun-safety report

(Reuters) – (This May 9 story has been refiled to correct name of organization to “Catholic Health Initiatives” from “Catholic Health Services” in thirteenth paragraph.) A majority of Sturm Ruger & Co investors on Wednesday voted to support a call for the gun ... More »

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Wells Fargo trims expected hit from regulatory cap on assets

BOSTON (Reuters) – Wells Fargo & Co on Thursday said a cap on the bank’s growth imposed by regulators after sales practices scandals would hurt earnings less than it thought this year, and forecast 2019 expenses below Wall Street expectations. Analysts were up... More »

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Buffett craves more Apple shares, endorses its buybacks

OMAHA, Neb. (Reuters) – Billionaire Warren Buffett has been buying a boatload of Apple Inc shares and on Saturday suggested he would buy even more shares at the right price. At Berkshire Hathaway Inc’s annual shareholder meeting, Buffett credited Apple with de... More »

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Buffett targets CEO for Berkshire-Amazon-JPMorgan healthcare…

OMAHA, Neb. (Reuters) – Warren Buffett on Saturday said he hoped a chief executive would be found within a couple of months for the healthcare company being set up by Berkshire Hathaway Inc, Amazon.com Inc and JPMorgan Chase & Co. to lower patient costs. Speak... More »

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The wit and wisdom of Warren Buffett, ‘Oracle of Omaha’

NEW YORK (Reuters) – Billionaire investor Warren Buffett and Berkshire Hathaway Inc Vice Chairman Charlie Munger are answering five hours of questions from shareholders, journalists and analysts at Berkshire’s annual meeting in Omaha, Nebraska. The weekend kno... More »

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Berkshire Hathaway shareholders reject two proposals

(Reuters) – Berkshire Hathaway shareholders at annual meeting overwhelmingly reject shareholder proposal concerning methane emissions Berkshire Hathaway shareholders at annual meeting overwhelmingly reject shareholder proposal concerning sustainability report ... More »

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Buffett owns 5 percent of Apple. He’d like to own more

OMAHA, Neb. (Reuters) – Warren Buffett said he would be happy if his conglomerate Berkshire Hathaway Inc owned more than 5 percent of Apple Inc’s stock, including if the iPhone maker bought back more of its shares. Buffett made his assessment before tens of th... More »

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Foes of market data fee hikes encouraged by SEC scrutiny

NEW YORK (Reuters) – A recent move by U.S. securities regulators demanding stock exchanges do a better job justifying price changes for public market data feeds could lead to more transparency around data costs, the head of one of the world’s largest trading f... More »

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South Korean police seek arrest warrant for Korean Air daughter

SEOUL (Reuters) – South Korean police are seeking an arrest warrant for the youngest daughter of Korean Air Lines’ chairman on suspicion of assault during a recent angry outburst, police said on Friday. Cho Hyun-min, the younger sister of the notorious “nut ra... More »

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U.S. SEC orders rapper Jay-Z to testify on clothing brand sale

WASHINGTON (Reuters) – Music mogul and businessman Jay-Z must explain details of the sale of his clothing line to determine whether it violated federal securities laws, the U.S. Securities and Exchange Commission (SEC) said on Thursday. The SEC said it wants t... More »

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Brazil gymnastics coach accused of sexual abuse

SAO PAULO (Reuters) – A sexual abuse scandal is engulfing Brazilian gymnastics this week as a former national coach has come under investigation for allegedly abusing dozens of boys. The scandal in Brazil follows the sentencing of former USA Gymnastics team do... More »

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WPP’s Read reviewing structure as results boost shares

LONDON (Reuters) – Mark Read, tasked with running WPP (WPP.L) after the sudden exit of founder Martin Sorrell, said he would look at restructuring the world’s biggest advertising group but ruled out a break up. Digital boss Read, appointed joint chief operatin... More »

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U.S. lawmaker Meehan resigns following sexual harassment claim

WASHINGTON (Reuters) – Republican U.S. Representative Patrick Meehan, who used taxpayer money to settle a former staffer’s sexual harassment claim, resigned on Friday from the House of Representatives and said he would repay the U.S. Treasury. Meehan announced... More »

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Tesla’s board against proposal to require independent chairman

(Reuters) – Tesla Inc’s board recommended on Thursday that shareholders vote against a proposal that would require the electric car maker’s chairman to be an independent director, ahead of its annual meeting. Elon Musk, chief executive of Tesla, is also the ch... More »

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Senate confirms first Trump picks for Federal Trade Commission

WASHINGTON (Reuters) – The U.S. Senate voted on Thursday to confirm five nominees for the Federal Trade Commission, the first commissioners chosen by President Donald Trump to be approved in the 15 months since his inauguration. The president has been slow to ... More »

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Caesars union wants private equity firms off board committee

BOSTON (Reuters) – A union of Caesars Entertainment Corp employees on Thursday asked its board to remove several private equity representatives from the compensation committee, citing high pay for top executives as Caesars’ operating unit emerged from bankrupt... More »

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China fund managers slash ZTE valuation after U.S. sanction

SHANGHAI (Reuters) – Chinese funds have slashed valuations of ZTE Corp after the United States banned American companies from selling components to the telecoms equipment maker for seven years, a move ZTE said threatened its very survival. The U.S. action last... More »

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ANZ to book $484 million charge on wealth business sales

(Reuters) – Australia and New Zealand Banking Group (ANZ) said it would book a loss of A$632 million ($484 million) on the divestment of two of its wealth businesses last year, which will be reflected in its half-year results. It sold its OnePath pensions and ... More »

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Firearms companies widely held in ETFs and funds: research firm

BOSTON (Reuters) – An estimated 24 percent of the world’s exchange-traded funds and 15 percent of mutual funds have holdings in firearms companies, researcher Sustainalytics said in a report on Thursday, levels it said might be “more pervasive than some invest... More »

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BlackRock wants regulators to address unequal voting rights

BOSTON (Reuters) – BlackRock Inc (BLK.N) on Thursday called on securities regulators to set international standards for shareholder voting rights, suggesting they resolve one of the thorniest debates in corporate governance. The world’s largest asset manager m... More »

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WPP embarks on new journey without Sorrell at the helm

LONDON (Reuters) – WPP (WPP.L), the world’s biggest advertising company, entered uncharted territory on Monday without its founder Martin Sorrell whose departure has left it rudderless at a time of swirling industry change. Shares in the group fell 4 percent a... More »

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Guggenheim says it is cooperating with SEC investigation

NEW YORK (Reuters) – Guggenheim Partners on Sunday said it was “cooperating fully” with an investigation of its asset management subsidiary that is being conducted by the U.S. Securities and Exchange Commission. “We are cooperating fully with the SEC’s investi... More »

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Volkswagen open to alliances in areas like autonomous driving

WOLFSBURG, Germany (Reuters) – Volkswagen’s (VOWG_p.DE) new Chief Executive Herbert Diess on Friday said the car and truck maker is open to alliances in areas like self-driving cars. Speaking in Wolfsburg, Germany, at his first news conference since being appo... More »

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Embattled Abraaj frees private equity investors from capital…

FILE PHOTO – Arif Naqvi, Founder and Group Chief Executive of Abraaj Group attends the annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, January 17, 2017. REUTERS/Ruben Sprich NEW YORK/DUBAI (Reuters) – Embattled private equity firm Abraa... More »

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Deason sues Xerox to allow new board nominations

FILE PHOTO: The logo of Xerox company is seen on a building in Minsk, Belarus, March 21, 2016. REUTERS/Vasily Fedosenko/File Photo (Reuters) – Hedge fund manager Darwin Deason filed a new lawsuit against Xerox Corp (XRX.N) on Friday after it refused to allow h... More »

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Subaru to replace president after faulty inspections scandal

Subaru Corp. outgoing President and CEO Yasuyuki Yoshinaga (L) and next President Tomomi Nakamura, who is currently Corporate Executive Vice President, attend a news conference in Tokyo, Japan, March 2, 2018. REUTERS/Issei Kato TOKYO (Reuters) – Automaker Suba... More »

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Geely covets Daimler tech with $9 billion stake, shares surge

FILE PHOTO: Li Shufu, founder and chairman of Zhejiang Geely Holding Group, attends the Volvo’s S90 news conference in Shanghai, China November 2, 2016. REUTERS/Aly Song/File Photo HONG KONG/SHANGHAI (Reuters) – Geely Automobile Holdings Ltd’s (0175.HK) shares... More »

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GE nominates three new directors to board

FILE PHOTO: The General Electric logo is pictured on the General Electric offshore wind turbine plant in Montoir-de-Bretagne, near Saint-Nazaire, western France, November 21, 2016. REUTERS/Stephane Mahe/File Photo (Reuters) – General Electric Co (GE.N) on Mond... More »

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The Weinstein Company to file for bankruptcy

FILE PHOTO: Harvey Weinstein speaks at the UBS 40th Annual Global Media and Communications Conference in New York, NY, U.S. on December 5, 2012. REUTERS/Carlo Allegri/File Photo (Reuters) – The board of directors of The Weinstein Company said late Sunday the N... More »

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Buffett says Berkshire can handle $400 billion mega-catastrophe

FILE PHOTO: Berkshire Hathaway CEO Warren Buffett waits to play table tennis during the Berkshire Hathaway annual meeting weekend in Omaha, Nebraska, U.S. May 7, 2017. REUTERS/Rick Wilking/File Photo (Reuters) – A giant hurricane, earthquake or other conflagra... More »

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Trump tax cut fuels record profit for Buffett’s Berkshire

FILE PHOTO: Berkshire Hathaway CEO Warren Buffett talks to reporters prior to the Berkshire annual meeting in Omaha, Nebraska, U.S., May 2, 2015. REUTERS/Rick Wilking/File Photo (Reuters) – Warren Buffett’s Berkshire Hathaway Inc on Saturday reported a record ... More »

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As mining investors push caution, Glencore differs from rivals

FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters in Baar, Switzerland, November 20, 2012. REUTERS/Arnd Wiegmann/File Photo TORONTO/MELBOURNE (Reuters) – As shareholders push the world’s cash-rich miners to ... More »

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Bank lending in spotlight as Australian inquiry begins

FILE PHOTO: The logo for the Commonwealth Bank of Australia adorns their head office in central Sydney, Australia October 12, 2017. REUTERS/David Gray/File Photo SYDNEY (Reuters) – A government-backed inquiry into Australia’s finance sector on Monday said it w... More »