Labor group files complaint against Anbang Insurance
(Reuters) – A U.S. labor union group has filed a complaint against Anbang Insurance Group [ANBANG.UL] and three of its hotel operators, saying the China-based insurer failed to provide information about its ownership and sources of financing.
UK fraud office expects decision on GSK, Rolls-Royce cases next year
LONDON (Reuters) – The UK Serious Fraud Office (SFO) said on Thursday it expects to decide next year whether it will file criminal charges in bribery investigations related to drugs giant GlaxoSmithKline and aero engine company Rolls-Royce .
Can a small-town Virginia banker fix Wells Fargo’s board?
(Reuters) – Wells Fargo & Co will likely turn to a former community banker and Fed official to head its board as the scandal-ridden bank tries to restore its former reputation as a solid, plain-vanilla lender, people familiar with the matter told Reuters.
ADP CEO slams Ackman’s research and ‘spoiled brat’ antics
NEW YORK (Reuters) – The CEO of Automatic Data Processing Inc ADP.O slammed investor William Ackman on Thursday, likening the hedge fund manager to a “spoiled brat,” and skewering the billionaire’s research efforts into the payroll processor.
Citi stock to double in 4-5 years, says Mike Mayo
(Reuters) – Citigroup Inc’s stock price is likely to double in the next four to five years, banking analyst Mike Mayo wrote in his first note after joining Wells Fargo Securities.
Ford says it is cooperating in German diesel investigation
BERLIN (Reuters) – Ford said German motor authorities were investigating a diesel-engined model of its mid-sized Mondeo car, adding that none of its cars was equipped with illegal emissions cheating software.
S&P falls 1.4 percent in safety flight on North Korea tensions
NEW YORK (Reuters) – The S&P 500 index had its biggest one-day drop in almost three months on Thursday as investors fled riskier assets, with technology stocks leading the charge, in response to an increasingly aggressive exchange of threats between the United States and North Korea.
Barclays names ex-Citi banker Barry Rodrigues as head of Barclaycard
LONDON (Reuters) – Barclays has named former Citigroup banker Barry Rodrigues as the head of its Barclaycard International credit card division, the British bank said on Thursday.
U.S. producer prices record biggest drop in 11 months
WASHINGTON (Reuters) – U.S. producer prices unexpectedly fell in July, recording their biggest drop in nearly a year and pointing to a further moderation in inflation that could delay a Federal Reserve interest rate hike.
MetLife seeks changes to protect interest payments, dividends
(Reuters) – MetLife Inc is asking some bond investors and shareholders to approve changes that are necessary for the insurer to make interest payments as usual, and continue returning capital to common shareholders, following its recent Brighthouse Fi…
