JPMorgan creates joint venture for retail, internet banking: memo
(Reuters) – Merger and acquisition dealmakers make their livings advising companies on mergers, sales and spinoffs. But this time, investment bankers at JPMorgan Chase & Co are working on an internal deal of their own.
Disney’s profit warning drags down media stocks
(Reuters) – Walt Disney Co Chief Executive Bob Iger said on Thursday the company’s earnings per share for this year will roughly be in line with a year ago, dragging down shares of media stocks.
Apple’s new iPhone could face supply shortfalls after launch: WSJ
(Reuters) – Apple Inc’s new iPhone had hit production glitches early in its manufacturing process and could lead to supply shortfalls and shipping delays following its launch next week, the Wall Street Journal reported on Thursday.
Wells Fargo whistleblower lawsuit is revived by U.S. appeals court
NEW YORK (Reuters) – Wells Fargo & Co faces a new legal worry after a federal appeals court on Thursday revived a whistleblower lawsuit by two former employees who said they were fired for trying to report misconduct by lenders that the bank later absorbed.
Lilly to lay off 8 percent of employees in bid to cut costs
(Reuters) – Eli Lilly and Co said on Thursday it would lay off about 8 percent of its employees as the drugmaker, which has suffered setbacks over the past year in the development of two potential blockbuster drugs, works to cut costs.
Spotify, Hulu target students with discounted bundle
(Reuters) – U.S. college students can buy Spotify Premium music streaming and Hulu TV streaming for a combined, deeply discounted $4.99 per month, in a new student subscription bundle the companies announced on Thursday to lure younger consumers.
Euro burns past $1.20 as ECB signals stimulus slowdown
LONDON (Reuters) – The euro climbed past $1.2050 despite a verbal warning on its strength from ECB head Mario Draghi on Thursday, as the central bank flagged it was preparing to scale back its 2.3 trillion euro ($2.75 trillion) stimulus program.
Former CIA director Petraeus joins KKR backed security firm
SAN FRANCISCO (Reuters) – Former United States CIA Director David Petraeus said Thursday he has joined the board of a large cybersecurity company controlled by investment firm Kohlberg Kravis Roberts (KKR & Co. LP), taking his most prominent role in the private sector.
Lilly to cut 8 percent of jobs in bid to cut costs
(Reuters) – Eli Lilly and Co said on Thursday it would lay off about 8 percent of its employees as the drugmaker, which has suffered setbacks over the past year in the development of two potential blockbuster drugs, works to cut costs.
Supplements retailer GNC seeks China partner to aid turnaround: sources
HONG KONG/SHANGHAI (Reuters) – U.S. nutritional supplements retailer GNC Holdings is seeking a partner to boost sales in China as it battles weak revenues and a sliding share price, people with knowledge of the matter said.
