SEC targets fake stock news on financial websites
(Reuters) – The U.S. Securities and Exchange Commission on Monday announced a crackdown on alleged stock promotion schemes in which writers were secretly paid to post hundreds of bullish articles about public companies on financial websites.
Tesla becomes most valuable U.S. car maker, edges out GM
SAN FRANCISCO (Reuters) – For the first time in the era of the modern automobile, the most valuable U.S. car maker is not based in Detroit.
Partial owner of Kushner’s New York flagship property willing to sell
NEW YORK (Reuters) – Efforts to breathe new life into an ageing Manhattan office building that is the flagship property of the family of President Donald Trump’s son-in-law has gained a green light after a partial owner of the building indicated a will…
AT&T bets on 5G with Straight Path Communications buy for $1.25 billion
(Reuters) – AT&T Inc said on Monday it would buy Straight Path Communications Inc , a holder of licenses to wireless spectrum, for $1.25 billion in an all-stock deal as it aims to accumulate the airwaves it needs for a next generation network.
Facebook’s Sandberg says number of monthly advertisers tops 5 million
SAN FRANCISCO (Reuters) – Facebook Inc plans to announce on Monday that more than 5 million businesses are advertising on the social network each month and that it is updating its suite of ad services to try to draw more small businesses onto its mobi…
European regulators offer Brexit sweeteners to investment banks
LONDON/MADRID (Reuters) – A gap in EU financial rules is allowing member countries to compete to host the trading operations of London-based investment banks after Brexit by offering looser regulatory standards.
Toyota makes $1.33 billion investment in Kentucky plant
(Reuters) – Japanese automaker Toyota Motor Corp said it is spending $1.33 billion in its Kentucky plant as part of a plan to invest $10 billion in the United States over the next five years.
‘Best banker in America’ blamed for Wells Fargo sales scandal
(Reuters) – An investigation by Wells Fargo & Co’s board laid blame for the company’s unauthorized accounts scandal on a high-pressure sales culture and a retail executive obsessed with stamping out negative views about her division.
Wall Street ends choppy session up slightly; energy helps
NEW YORK (Reuters) – U.S. stocks ended a choppy session slightly higher on Monday as gains in energy shares offset losses in financials ahead of quarterly corporate earnings later this week.
BHP rebuffs Elliott’s reform plan, says costs outweigh gains
SYDNEY/LONDON (Reuters) – BHP Billiton on Monday rejected a plan by activist shareholder Elliott Advisors to scrap the miner’s dual company structure, split off its oil business and return more cash to investors, saying the costs would outweigh any ben…
