Tesla to cut 9 percent of jobs: Bloomberg
(Reuters) – Tesla Inc is planning to cut about 9 percent of jobs across the company, Bloomberg reported on Tuesday.
Wells Fargo workers push for more board access, so far in vain
(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.
Wall Street edges higher with focus on Fed
(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 top court narrows Martin Act in $11 billion Credit Suisse case
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.
L’Oreal to appeal after UK setback in haircare patent row
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.
Wall Street edges higher as focus shifts to Fed
(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.
U.S. SEC charges Bank of America subsidiary $15 million for RMBS trader lapses
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).
China’s ZTE to resume trading after $1.4 billion U.S. settlement
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 overhau…
VW board to discuss prosecutors’ probe into Audi CEO on Monday
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 sai…
New York’s top court narrows Martin Act in $11 billion Credit Suisse case
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 defec…
