Ex-State Street executive cheated clients with secret fees: U.S. prosecutor
BOSTON (Reuters) – A former State Street Corp executive directed a fraudulent scheme to overcharge several of the bank’s clients, including Kuwait’s sovereign wealth fund, by applying secret commissions to billions of dollars’ worth of trades, a U.S. …
Two Allergan shareholders call for split of chairman-CEO position
(Reuters) – Two of Allergan Plc’s shareholders – hedge funds Appaloosa Management and Senator Investment Group – on Tuesday asked the drugmaker’s board to split the role of chief executive officer and chairman, and end its acquisition strategy.
Britain clears way for Murdoch to battle Comcast for Sky
LONDON (Reuters) – Rupert Murdoch faces a 22 billion pound ($29.3 billion) fight with U.S. cable company Comcast for European pay-TV company Sky after Britain cleared his bid providing he sells off its TV news business.
Hedge fund Appaloosa asks Allergan to split chairman-CEO position
(Reuters) – Billionaire investor David Tepper’s hedge fund Appaloosa Management and Senator Investment Group on Tuesday asked Allergan Plc’s board to split the office of the chief executive officer and chairman.
David Koch to retire from Koch Industries due to poor health: memo
(Reuters) – Conservative billionaire industrialist David Koch is retiring from his roles at Koch Industries and associated companies due to poor health, according to an internal memo seen by Reuters.
FAANG propels Nasdaq to record high, broader markets flat
(Reuters) – Strong gains in tech heavyweights lifted the Nasdaq to a record intra-day high on Tuesday, while declines in financial and energy stocks weighed on the S&P 500 and Dow. The so-called FAANG stocks — Facebook, Amazon, Apple, Netflix and Alphabet — rose between 0.5 percent and 1.7 percent, helping the S&P technology index rise 0.5 percent.
Short sellers and options traders bet on more Deutsche Bank pain
LONDON (Reuters) – Short sellers and derivatives traders are betting Deutsche Bank’s share price recovery will prove temporary, with data suggesting short interest in the German lender is the highest of any global bank.
Billionaire David Koch to retire from Koch Industries: CNBC
(Reuters) – Billionaire industrialist David Koch is retiring from his role at Koch Industries and associated companies due to health reasons, CNBC reported on Tuesday, citing an internal memo.
Britain clears Murdoch’s bid for Sky if it sells Sky News
LONDON (Reuters) – Rupert Murdoch will be allowed to buy Sky providing it follows through with a proposal to sell Sky News to Disney or another third party to allay concerns over the media mogul’s influence.
Tech gains help Nasdaq at open, broader markets flat
(Reuters) – The S&P and the Dow opened flat on Tuesday weighed down by declines in financial and energy stocks, while a surge in technology stocks drove gains on the Nasdaq.
