Morgan Stanley to pay $13 million for overbilling clients: SEC
WASHINGTON (Reuters) – Morgan Stanley will pay $13 million to settle civil charges, after it overbilled some of its wealth management clients because of coding and other billing system errors, U.S. regulators said Friday.
Top U.S. bank executives optimistic heading into 2017
NEW YORK (Reuters) – Executives of big U.S. banks expressed optimism on Friday about the outlook for 2017 in their first public comments about quarterly earnings since the U.S. presidential election in November.
Exclusive: Pratt’s F135 engine chief, other employees leave after ethics issue – sources
BERLIN (Reuters) – Ten employees of United Technologies Corp’s Pratt & Whitney unit, including the head of its F135 engine program, have left the company after an internal audit uncovered an ethics issue linked to a visit by a South Korean delegation, sources familiar with the matter told Reuters.
Lockheed Martin CEO meets Trump, says deal to lower F-35 costs is close
NEW YORK (Reuters) – Lockheed Martin Corp is close to a deal to significantly lower the cost of its F-35 aircraft, Chief Executive Officer Marillyn Hewson said on Friday after meeting with U.S. President-elect Donald Trump.
Wells Fargo thinks it has paid back customers as required
(Reuters) – Wells Fargo & Co , the third-largest U.S. bank by assets, said on Friday it believes it has reimbursed the customers it needs to in order to comply with at least one of three settlements over a bogus-accounts scandal.
Trump, AT&T CEO discussed jobs, not Time Warner deal: Trump spokesman
WASHINGTON (Reuters) – U.S. President-elect Donald Trump’s meeting with AT&T Inc’s chief executive this week focused on job creation and government regulations, not the company’s planned merger with Time Warner Inc , Trump spokesman Sean Spicer told reporters on Friday.
Trump adviser: TPP ‘dead,’ will move quickly on bilateral trade deals
WASHINGTON (Reuters) – President-elect Donald Trump will not revive his predecessor’s stalled Trans-Pacific Partnership trade deal in any form, but will quickly pursue bilateral trade agreements, a Trump transition policy adviser said.
German regulator investigates pre-merger trading in Linde shares
FRANKFURT (Reuters) – Germany’s financial and markets regulator BaFin said it had begun a formal investigation into suspected insider trading in Linde shares in the run-up to the announcement of merger talks with U.S. rival Praxair in August.
Strong auto demand buoys retail sales; producer prices rise
WASHINGTON (Reuters) – U.S. retail sales rose in December amid strong demand for automobiles and furniture, providing further evidence that the economy ended the fourth quarter with momentum and is poised for stronger growth this year.
Deutsche Bank sees chance to set out future course after U.S. settlement
DUESSELDORF, Germany (Reuters) – Deutsche Bank plans to put its home German market and corporate customers at the center of its plans when it spells out more of its future strategy over the next few months, the lender’s finance chief said on Friday.
