(Reuters) – Hedge fund manager David Einhorn of Greenlight Capital told Reuters on Thursday that he “chatted yesterday” with Apple CEO Tim Cook who is receptive to his proposals on Apple’s capital allocation strategy. Einhorn said he suggested to Apple an init... More »
(Reuters) – Calling them “tax cheats” and their lawsuit a “travesty,” a U.S. appeals court threw out an effort by some American customers of UBS AG to recover damages over bank services that resulted in their having evaded U.S. taxes. The decision by the 7th U... More »
(Reuters) – Barclays Plc said on Thursday it added 16 new investment representatives to its wealth and investment management division as the British bank expands its presence in the United States. The new hires, spread across seven different offices in the Uni... More »
(This is part of a five-story package on retirement that will run Feb 5 – Feb 7) By Mark Miller CHICAGO (Reuters) – Susan Damour flunked retirement. She tried it at age 64 in 2008 along with her husband, Tim, who was 68. That lasted a year. Overseas travel, co... More »
NEW YORK (Reuters) – U.S. prosecutors are nearing a decision on whether to pursue criminal charges against SAC Capital Advisors portfolio manager Michael Steinberg related to an insider trading investigation involving shares of Dell Inc, according to two peopl... More »
(This is part of a five-part package on retirement that will run Feb 5 – Feb 7) By Lauren Young NEW YORK (Reuters) – Employers are getting smarter about how they run retirement plans. They are making some moves that are good for younger workers, including auto... More »
CHICAGO (Reuters) – The baby boom generation has broken the mold at every stage of life, and it looks like old age won’t be any different. Boomers aren’t heading quietly into retirement. They’re launching businesses, embracing digital technology and living abr... More »
(Reuters) – Jim O’Neill, a Goldman Sachs Group Inc executive who coined the term “BRIC” to refer to four fast-growing emerging markets, will retire later this year, according to an internal memo sent out on Tuesday. O’Neill, chairman of Goldman’s asset managem... More »
NEW YORK/CHARLOTTE, North Carolina (Reuters) – A group of mortgage-backed securities investors says Bank of America Corp failed to buy back more than $30 billion in loans from investors after the bank modified the mortgages to reduce borrowers’ payments. The a... More »
CHICAGO (Reuters) – Whenever the stock market breaches an old high – like when the Dow closed over 14,000 on Friday, the best mark since October, 2007 – it is time to look inward, not outward. You could be happy that your portfolio looks pretty good, or you co... More »
SAN FRANCISCO (Reuters) – Apple Inc and other online retailers did not break California law by requiring consumers to provide their address and phone numbers as a condition of accepting credit card payments, the state’s high court ruled on Monday. In a split d... More »
NEW YORK (Reuters) – New York State will get another $185.5 million in federal grants as it moves toward establishing a health insurance exchange as mandated under President Obama’s healthcare reforms, Governor Andrew Cuomo said in a statement on Monday. Cuomo... More »
NEW YORK (Reuters) – Roomy Khan, a one-time technology company executive who became a key FBI informant in the insider-trading case against hedge-fund manager Raj Rajaratnam, was sentenced to 12 months in prison on Thursday. Her defense lawyer had sought five ... More »
(Reuters) – Pension charges wiped out more than $20 billion in fourth-quarter earnings at major American companies, as persistently low interest rates leave some of those with the largest retiree burdens no choice but to assume they need more money now to cove... More »
CEDAR RAPIDS, Iowa (Reuters) – A judge on Thursday sentenced the founder of Peregrine Financial Group to 50 years in prison for looting hundreds of millions of dollars from the brokerage, saying his customers would probably never recover the money they lost. R... More »
LONDON (Reuters) – Shareholders must be hoping the removal of Aubrey McClendon as Chesapeake’s chief executive will end the corporate governance discount attached to the company’s share price and unlock superior returns. They are likely to be disappointed. Rem... More »
NEW YORK (Reuters) – The retreat by Republicans from threats to push the United States into a debt crisis has stayed the hand of at least one credit ratings agency, but that does not mean the United States is suddenly safe. The country has retained its top tri... More »
(Reuters) – Gregory Peters, Morgan Stanley’s chief global asset strategist, is leaving after 12 years with the investment bank and wealth manager to pursue opportunities on the buyside, people familiar with the matter said on Tuesday. Peters, 46, whose last da... More »
NEW YORK (Reuters) – When Andrew Winfield applied to become a U.S. citizen in 2011, he realized he owed taxes on accounts he had left behind in his native England. So he paid what he believed he owed — $2,800 in back taxes, plus the estimated interest and pena... More »
MILAN (Reuters) – Italy’s troubled Monte dei Paschi bank said on Monday it had no evidence of bribery in a 2007 takeover now under scrutiny over alleged corruption, but acknowledged accounting irregularities over derivatives deals under previous management. Fa... More »
SALZBURG, Austria (Reuters) – An Austrian provincial official accused of secret financial dealings more typical of hedge funds went public on Friday, saying her bosses knew all about the speculative investments and exotic currency trades. Monika Rathgeber, who... More »
NEW YORK (Reuters) – When Doug Haslam gets on his bike, it’s for personal as well as philanthropic reasons. Of course, the 44-year-old social media consultant from Newton, Massachusetts, derives intrinsic joy from riding his Specialized Allez Sport. But, havin... More »
NEW YORK (Reuters) – Antitrust enforcers are increasingly scrutinizing the world’s major banks. The U.S. government’s investigation into a scheme to rig bids for investment contracts involving municipal bond proceeds has resulted in major monetary settlements ... More »
NEW YORK (Reuters) – Citigroup Inc has combined its U.S. leveraged finance and syndication teams to improve its coverage of clients and capitalize on synergies, the bank said in a memo to employees. The move follows the successful model the bank has implemente... More »
NEW YORK (Reuters) – California hedge fund manager Doug Whitman was sentenced on Thursday to two years in prison after he became the first defendant in a broad U.S. crackdown on insider trading to take the stand to convince jurors of his innocence. U.S. Distri... More »
MILAN (Reuters) – Italian Prime Minister Mario Monti weighed in on the scandal surrounding Banca Monte dei Paschi di Siena on Thursday, rejecting suggestions that the authorities had failed to spot large trading losses threatening the bank. Already in need of ... More »
NEW YORK (Reuters) – U.S. retail investors who have gone sour on Apple Inc after the drubbing the stock has been taking may want to think twice before trying to buy its main smartphone rival, Samsung Electronics Co Ltd, at least in American markets. Apple’s ma... More »
SAN FRANCISCO (Reuters) – San Francisco-based entrepreneur Garrett Johnson is usually too busy with his messaging start-up for much travel, but one issue has inspired him to cross the country: immigration reform. On February 5, he and a dozen other entrepreneu... More »
WASHINGTON (Reuters) – Fewer investors are taking corporate America to court for fraud. The number of new federal securities fraud lawsuits seeking class-action status fell to a 6-year low in 2012, according to a study by Stanford Law School and Cornerstone Re... More »
WASHINGTON (Reuters) – When Kellie and Michael May decided to refinance their home in the New York suburbs, they wanted to take advantage of historically low interest rates. But before landing a new 30-year fixed-rate mortgage, they had to get through a home a... More »
WASHINGTON (Reuters) – Top policymakers at the Federal Reserve felt for most of 2007 that problems in housing and banking were isolated and unlikely to tear down the U.S. economy as they ultimately did. Even as crisis signals started flashing red with the free... More »
WASHINGTON (Reuters) – More than two weeks after lawmakers reached a budget deal that preserved the tax exemption on the interest paid on municipal bonds, mayors from across the country remain worried the exemption could be at risk. Muni bonds are critical to ... More »
(Reuters) – If HBO cuts out on you in the middle of the latest “Girls” episode, and you have Charter Communications Inc as your cable provider, don’t try tweeting your dismay to their customer service department. Nobody will hear your lament. Charter, the four... More »
NEW YORK (Reuters) – Squabbling in Washington over the debt ceiling is again raising the specter that the United States may be forced to delay payments on its debt. While the stigma of a default would be damaging enough to investor sentiment, the chaos from a ... More »
WASHINGTON (Reuters) – The U.S. Consumer Financial Protection Bureau announced new rules for mortgage servicers on Thursday to help prevent the sloppy practices that aggravated the U.S. foreclosure crisis. Mortgage servicers collect monthly payments from borro... More »
(Reuters) – Bank of America Corp has named capital markets co-head Alastair Borthwick as its head of commercial banking, in a shuffling of veteran executives. Borthwick, a former Goldman Sachs Group Inc executive who joined the bank in 2005, replaces Laura Whi... More »
LONDON (Reuters) – Fears of a backlash from shareholders and regulators are preventing major European banks from copying Credit Suisse and paying bonuses in exotic instruments such as specially created derivatives. Many bankers will see a sharp fall in the siz... More »
(Reuters) – Mario Draghi has saved the euro, for the time being, but seems less inclined to help the economies in which it is used. After stepping in last summer to put the full faith and power of the European Central Bank behind the vulnerable euro zone commo... More »
CHICAGO (Reuters) – Like the middle children they are, mid-cap stocks are often outshined by their mega-cap brethren. The largest two constituents of the S&P 400 Mid-cap Index are Regeneron Pharmaceuticals Inc and Equinix Inc, an information technology firm. N... More »
WASHINGTON/BALTIMORE (Reuters) – The U.S. consumer watchdog on Thursday finalized new mortgage rules that are expected to have little short-term impact on the housing market but could prevent banks from returning to the pre-crisis practice of churning out risk... More »
(Reuters) – A unit of Wells Fargo Corp must pay $1.3 million to a California couple for losses tied to a strategy that included a $5 million loan and a risky type of exchange-traded fund, a securities arbitration panel has ruled. Wells Fargo Advisors LLC was f... More »
CHICAGO (Reuters) – When mother of three Angela Allyn takes to Facebook, it’s usually not to post pictures of her latest party, but to drum up business for her entrepreneurial teenage son, Alec. “Teenage boy available for schlepping, sitting and various cleanu... More »
HELSINKI/BRUSSELS (Reuters) – The European Union’s top economic official sought to rule out any write-off of Greece’s debt to governments on Thursday after a European Central Bank policymaker said for the first time that a “haircut” on part of it was probable.... More »
FRANKFURT (Reuters) – The euro zone economy shows little sign of recovering before the year-end despite easing financial market conditions, European Central Bank President Mario Draghi said on Thursday, leaving open the possibility of an interest rate cut in t... More »
BERLIN (Reuters) – German lawmakers look set to approve on Thursday Berlin’s contribution to a euro zone aid package for Spain’s ailing banks in a vote seen as a test of Chancellor Angela Merkel’s authority within her centre-right coalition. Merkel can count o... More »
