Business & Finance News
NEW YORK (Reuters) – Morgan Stanley Chief Executive Officer James Gorman called the bank’s fixed-income group its “most attractive business” on Tuesday at a conference the Wall Street firm held in New York.
(Reuters) – Tesla Inc is cutting about 9 percent of jobs across the company, billionaire Chief Executive Elon Musk said on Tuesday, as it seeks to reduce costs without endangering the critical ramp up of production of its Model 3 sedan.
(Reuters) – Tesla Inc is planning to cut about 9 percent of jobs across the company, Bloomberg reported on Tuesday.
(Reuters) – A labor-backed group is stepping up pressure on Wells Fargo & Co to add an employee to a council that has the ear of the bank’s board and management, arguing workers deserve a voice as Wells Fargo works to get past a damaging scandal over sales practices.
(Reuters) – U.S. stocks edged higher on Tuesday, with help from Twitter and media stocks, as investors looked past a historic U.S.-North Korea summit and focused on the Federal Reserve’s policy meeting.
NEW YORK (Reuters) – After a decade of focusing on the so-called millennial generation, some U.S. companies are starting to look ahead to what’s next.
NEW YORK (Reuters) – New York’s highest court on Tuesday curbed the state attorney general’s ability to fight fraud on Wall Street, awarding a victory to Credit Suisse Group AG as it tries to end an $11 billion lawsuit over risky mortgage securities.
PARIS (Reuters) – L’Oreal , maker of brands like Lancome and Maybelline, said on Tuesday it would seek to appeal a British court ruling favoring a U.S. start-up that accuses the French cosmetics giant of infringing its patent on a haircare product.
(Reuters) – U.S. stocks posted small gains on Tuesday as investors focused on the Federal Reserve’s policy meeting, while looking past President Donald Trump’s historic summit with North Korean leader Kim Jong Un.
WASHINGTON (Reuters) – The Securities and Exchange Commission on Tuesday said Bank of America subsidiary Merrill Lynch, Pierce, Fenner & Smith Inc. will pay $15 million to settle charges that staff misled clients into overpaying for Residential Mortgage Backed Securities (RMBS).
HONG KONG (Reuters) – ZTE Corp said trading in its shares would resume on Wednesday, ending a two-month suspension, after the Chinese telecommunications giant agreed to pay up to $1.4 billion in penalties to the U.S. government and radically overhaul its management.
HAMBURG/BERLIN (Reuters) – Volkswagen’s supervisory board will on Monday discuss German prosecutors’ investigation into the head of its Audi brand, as the carmaker weighs up how to tackle the latest fallout from its 2015 emissions scandal, sources said.
NEW YORK (Reuters) – New York State’s highest court on Tuesday narrowed the reach of a powerful law used by the state’s attorney general to fight financial fraud, handing a partial victory to Credit Suisse Group AG in an $11 billion lawsuit over defective mortgage securities.
(Reuters) – Bank of America Corp’s co-head of consumer and business banking said on Tuesday he expects the consumer banking unit’s efficiency ratio to remain flat or improve further as it cuts more costs tied to moving physical checks and cash.
(Reuters) – Wall Street’s main indexes posted small gains on Tuesday as bank shares gained in anticipation of an interest rate hike by the Federal Reserve at its two-day policy meeting.
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