Wal-Mart, General Motors reaffirm jobs long planned, Trump says thanks
(Reuters) – Wal-Mart Stores Inc and General Motors Co on Tuesday became the latest companies to win praise from President-elect Donald Trump for adding U.S. jobs and investment, even though much of their plans were previously announced.
Wall Street falls with financials, other post-election gainers
NEW YORK (Reuters) – U.S. stocks fell on Tuesday, with financials, transports and other big post-election gainers losing ground as earnings season kicked into gear.
Allergan to pay $15 million over failing to disclose merger talks
WASHINGTON (Reuters) – A unit of Botox maker Allergan Plc will pay a $15 million penalty and admit to wrongdoing, after U.S. regulators on Tuesday accused the unit of failing to disclose 2014 merger talks with Actavis, the U.S. Securities and Exchange…
CSX profit dips but meets Wall Street expectations
DETROIT (Reuters) – No. 3 U.S. railroad CSX Corp on Tuesday reported a slight dip in quarterly net profit, in results that met Wall Street analyst expectations, and said conditions for its business were improving after taking a hit from low commodity …
Morgan Stanley’s profit doubles on bond-trading surge
(Reuters) – Morgan Stanley’s profit doubled in the fourth quarter as trading activity surged across Wall Street, and the bank said it was on track to reach a number of financial goals set out by Chief Executive James Gorman.
Scaramucci’s fund struggles to bring top returns to the masses
BOSTON (Reuters) – One of President-elect Donald Trump’s top liaisons to Wall Street’s business elite launched a mutual fund three years ago for mom-and-pop investors that lags most of its peers.
U.S. antitrust agency sues Qualcomm over patent licensing
WASHINGTON (Reuters) – The U.S. Federal Trade Commission filed a lawsuit against Qualcomm Inc on Tuesday, accusing the company of antitrust violations in its patent licensing business.
Deutsche Bank CEO apologizes for conduct in toxic mortgages case
FRANKFURT (Reuters) – Deutsche Bank’s chief executive apologized on Tuesday for the bank’s selling and pooling of toxic mortgage securities in the run-up to the 2008 financial crisis, which prompted a $7.2 billion settlement with the United States.
Caesars wraps up $18 billion bankruptcy case, eyes future
CHICAGO (Reuters) – Caesars Entertainment Corp has wrapped up the $18 billion bankruptcy of its main operating unit, allowing the casino company to focus on restoring the tarnished Harrah’s, Caesars and Horseshoe brands after two years of Chapter 11 p…
Pershing Square, nine others hit with SEC ‘pay to play’ violations
WASHINGTON (Reuters) – Billionaire investor Bill Ackman’s hedge fund paid $75,000 to settle civil “pay-to-play” charges with the Securities and Exchange Commission after running afoul of campaign contribution and money management rules.
