Infosys CEO Vishal Sikka resigns, cites recent ‘drumbeat of distractions’
(Reuters) – Infosys Ltd, in a surprise announcement, said Vishal Sikka has resigned as CEO citing a stream of distractions and disruptions in recent months, pushing down shares of the second-largest Indian IT services firm almost 8 percent on Friday.
Australia puts multinationals on notice after Chevron drops tax appeal
MELBOURNE (Reuters) – Chevron Corp has withdrawn an appeal to Australia’s High Court over a disputed A$340 million ($268 million) tax bill, leaving in place a landmark court ruling on related-party loans that could affect other multinational companies…
Investors flee stocks for bonds, gold as U.S. tax cut hopes fade
LONDON (Reuters) – World stocks were set for a second day of losses on Friday after an exodus of U.S. executives from presidential business councils dealt a fresh blow to hopes of tax reform, hammering Wall Street and filtering through to Asia and Euro…
Nestle accused of pilfering Atari ‘Breakout’ game for ‘Kit Kat’ ads
(Reuters) – A new lawsuit accuses Nestle SA of blatantly violating the rights of Atari by using without permission the classic 1970s video game “Breakout” in a new marketing campaign for its Kit Kat chocolate-covered wafers.
Despite legal victory, America Movil may face tough ride with regulator
MEXICO CITY (Reuters) – Despite a landmark Supreme Court ruling in his favor, Mexican mogul Carlos Slim shouldn’t break out the champagne just yet.
Deutsche Bank, Bank of America settle agency bond rigging lawsuits
NEW YORK (Reuters) – Deutsche Bank AG and Bank of America Corp agreed to pay a combined $65.5 million to settle investor litigation accusing large banks of rigging the roughly $9 trillion government agency bond market over a decade.
Auto groups side with Canada, Mexico on NAFTA origin rules
WASHINGTON (Reuters) – Auto industry groups from Canada, Mexico and the United States are pushing back against the Trump administration’s demand for higher U.S. automotive content in a modernized North American Free Trade Agreement.
Lockheed Martin awarded part of $499 million U.S. defense contract: Pentagon
WASHINGTON (Reuters) – Top U.S. defense contractor Lockheed Martin was named on Thursday as one of six companies that will share a $499 million contract for research into aerospace systems aimed at developing new technologies and capabilities, the Pent…
Gap shares rise as Old Navy again boosts results, forecast
(Reuters) – Clothing retailer Gap Inc reported better-than-expected second-quarter results and raised its full-year profit forecast, helped by strong demand for Old Navy products, fewer discounts and better managing inventory.
U.S. pension funds sue Goldman, JPMorgan, others over stock lending market
(Reuters) – Three U.S. pension funds sued six of the world’s largest banks on Thursday, including Goldman Sachs Group Inc and JP Morgan Chase & Co , accusing them of conspiring to stifle competition in the more than $1 trillion stock lending market.
