Hyundai’s top U.S. executive resigns in management shake-up
WASHINGTON/SEOUL (Reuters) – Hyundai Motor Co’s top U.S. executive Dave Zuchowski has resigned effective immediately, in the latest shake-up of the South Korean automaker’s management ranks as it tracks toward its fourth consecutive year of profit dec…
Trump weighs ‘half-blind’ trust option for businesses: Politico
WASHINGTON (Reuters) – U.S. President-elect Donald Trump’s transition team is considering the use of discretionary trusts to avoid conflicts of interest for Trump family members or administration officials, Politico reported on Wednesday.
FINRA fines Wells Fargo, others $14 million for records’ changeable format
NEW YORK (Reuters) – The Financial Industry Regulatory Authority said it fined several Wells Fargo & Co businesses, RBC Capital Markets, LPL Financial and others a combined $14.4 million on Wednesday for record-keeping problems that may have allowed company and customer documents to be altered.
Wall Street loses ground after Trump rally
(Reuters) – U.S. stocks fell on Wednesday, with healthcare and real estate shares losing ground a day after the Nasdaq Composite and the Dow Jones Industrial Average hit record highs.
Hershey names COO Michele Buck as chief executive
(Reuters) – U.S. chocolate maker Hershey Co named Chief Operating Officer Michele Buck as its chief executive and president, pinning its hopes on a company veteran to build on a recovery in demand in North America.
CalPERS votes to lower expected investment return rate to 7 percent by 2020
SAN FRANCISCO (Reuters) – The California Public Employees’ Retirement System board voted on Wednesday to lower the pension plan’s expected rate of return from investment to 7 percent by 2020, a decision that comes after the fund failed to meet its 7.5 …
U.S. existing home sales rise to near 10-year high
WASHINGTON (Reuters) – U.S. home resales unexpectedly rose in November, reaching their highest level in nearly 10 years, likely as buyers rushed into the market to lock in mortgage rates in anticipation of further increases in borrowing costs.
Viacom unit head overseeing MTV, Comedy Central to leave
SAN FRANCISCO/NEW YORK (Reuters) – Longtime Viacom Inc executive Doug Herzog, who oversees the networks Comedy Central and MTV, is leaving the company next month, according to a memo to employees sent Wednesday from chief executive Bob Bakish.
DuPont hit with $2 million verdict over Teflon-making chemical
(Reuters) – A U.S. jury in Ohio on Wednesday ordered DuPont to pay $2 million to a man who said he developed testicular cancer from exposure to a toxic chemical leaked from one of the company’s plants, according to the plaintiff’s lawyer Robert Bilott…
Actelion re-enters talks with J&J, sidelining Sanofi
ZURICH/FRANKFURT (Reuters) – Swiss biotech company Actelion has turned back to prospective bidder Johnson & Johnson for exclusive talks about a “strategic transaction”, in an about-turn that appears to sideline rival suitor Sanofi .
