U.S. securities regulator proposes new rules on use of derivatives in exchange traded funds
The U.S. securities regulator on Monday proposed new regulations for the use of derivatives by investment funds to introduce some safeguards for more risky products and increase competition.
Australia’s Westpac loses top two executives in money-laundering scandal
Australia’s Westpac Banking Corp said on Tuesday its CEO will step down and its chairman will bring forward his retirement as a money-laundering scandal rocks the country’s second-largest retail bank.
CBS ordered to disclose internal records on Viacom deal
A Delaware judge on Monday ordered broadcaster CBS Corp to turn over records regarding its plan to reunite with Viacom Inc to a shareholder who wants to investigate if the deal unfairly benefits Shari Redstone, who controls both companies.
Hewlett Packard Enterprise revenue misses estimates, shares fall
Hewlett Packard Enterprise Co missed Wall Street estimates for quarterly revenue on Monday, hit by lower demand for its servers and storage products, sending its shares down about 4% in trading after the bell.
AIG to sell 76.6% stake in Fortitude Re for $1.8 billion
U.S. insurer American International Group Inc said on Monday it would sell a major portion of its stake in reinsurer Fortitude Re to buyout fund Carlyle Group and Japanese insurer T&D Holdings for about $1.8 billion.
Texas, Nevada drop out of state AG group suing to block Sprint, T-Mobile merger
Texas’ attorney general settled with T-Mobile Inc and Sprint Corp and will drop his opposition to the $26.5 billion merger, leaving just Democratic attorneys general fighting the proposed combination.
Calvin Klein-owner PVH Corp raises FY profit outlook on strong demand in Europe
PVH Corp raised full-year adjusted profit forecast on Monday after its third-quarter results beat Wall Street expectations, powered by higher demand for its Calvin Klein and Tommy Hilfiger apparel in Europe.
Westpac CEO steps down as money-laundering scandal rocks second-biggest Australian bank
Westpac Banking Corp on Tuesday said Chief Executive Brian Hartzer will be stepping down, as Australia’s second-biggest bank faces the country’s biggest money-laundering scandal. Chief Financial Officer Peter King will be taking over as acting CEO,…
Wall Street sets records on trade progress optimism
Each of Wall Street’s three major averages kicked off the trading week with record closes on Monday as signs pointed to progress between the United States and China on a trade truce, while a round of merger deals also helped buoy sentiment.
How LVMH’s whirlwind courtship sealed $16 billion Tiffany deal
Tiffany was codenamed “Tea” and LVMH was “Latte” in the whirlwind talks that led to the U.S. jeweler being taken over by the French luxury group for more than $16 billion, in a homage to famed film “Breakfast at Tiffany’s”.
