U.S. banks gear up to fight Dodd-Frank Act’s Volcker rule
(Reuters) – Big U.S. banks are set on getting Congress this year to loosen or eliminate the Volcker rule against using depositors’ funds for speculative bets on the bank’s own account, a test case of whether Wall Street can flex its muscle in Washingto…
BlackRock’s U.S.-based active funds post record 2016 withdrawals: Morningstar
NEW YORK (Reuters) – Investors pulled $19.3 billion from BlackRock Inc’s U.S.-based actively managed mutual funds in 2016, Morningstar Inc estimates showed on Tuesday, a record high as the investment industry struggles to restrain an exodus to lower-c…
U.S. judge delays sentencing of VW employee aiding in emission probe
WASHINGTON (Reuters) – A federal judge on Tuesday delayed the sentencing a German man who is the only person to face U.S. criminal charges over Volkswagen’s diesel emission cheating scandal, as he cooperates with prosecutors still investigating the mat…
Wall Street extends rally in sharp New Year’s rise
(Reuters) – Wall Street rose sharply on Tuesday as a post-election rally extended into the new year, helped by gains in Verizon Communications and technology companies Alphabet and Facebook.
Chided by Trump, Ford scraps Mexico factory, adds Michigan jobs
FLAT ROCK, Mich./WASHINGTON (Reuters) – Ford Motor Co on Tuesday scrapped a planned Mexican car factory and added 700 jobs in Michigan following criticism by Donald Trump, as the U.S. president-elect turned his attention toward rival General Motors Co…
Tesla posts 9.4 percent fall in quarterly deliveries
(Reuters) – Tesla Motors Inc said on Tuesday fourth-quarter deliveries fell 9.4 percent due to short-term production hurdles from the transition to a new autopilot hardware.
Dollar hits 14-year highs after strong U.S. manufacturing data
NEW YORK (Reuters) – The U.S. dollar rose to its highest in 14 years against the euro and a basket of major currencies on Tuesday after data showed solid growth in U.S. manufacturing.
Twitter’s China boss Kathy Chen quits after eight months
NEW YORK/BEIJING (Reuters) – Twitter Inc executive Kathy Chen, brought in to run Greater China just over eight months ago, has quit, according to a tweet sent by her over the weekend.
British Airways’ cabin crew announce 48-hour strike for January 10
LONDON (Reuters) – British Airways cabin crew plan to hold a 48-hour strike starting on Jan. 10, after suspending previous plans to walk out over Christmas, trade union Unite said on Tuesday.
Ford scraps plan for $1.6 billion plant in Mexico after Trump criticism
FLAT ROCK, Mich./WASHINGTON (Reuters) – Ford Motor Co said Tuesday it will cancel a planned $1.6 billion factory in Mexico and invest $700 million at a Michigan factory, after President-elect Donald Trump had harshly criticized the Mexico investment p…
