U.S. banks see higher net income, fewer unprofitable lenders: FDIC
WASHINGTON (Reuters) – U.S. banks’ net income increased by $5.2 billion, or 12.9 percent, compared to the third quarter of last year as the number of struggling lenders fell, the Federal Deposit Insurance Corporation said.
Demergers and destruction: activists press Europe conglomerates
AMSTERDAM (Reuters) – The days of the European conglomerate may be numbered, as activist shareholders are pressing diversified groups to spin off secondary businesses and focus on doing one thing well.
Uber defends business model, wants to avert strict EU rules
LUXEMBOURG (Reuters) – Uber [UBER.UL] defended its business model in Europe’s highest court on Tuesday, saying its service had made it easier for people to get around and cut pollution as it fights a case which could leave app-based startups facing tou…
Jeweler Tiffany posts first sales rise in eight quarters
(Reuters) – Tiffany & Co reported its first rise in sales in eight quarters as more people shopped in its stores in Japan and China, and the upscale jeweler said sales in the United States declined at their slowest quarterly pace this year.
Exclusive: Arrested Russian minister wanted state to cede control over Rosneft – sources
MOSCOW (Reuters) – Russia’s former Economy Minister Alexei Ulyukayev privately argued to colleagues in government that the state should give up control over oil giant Rosneft, before he was arrested two weeks ago in a sting inside the company’s offices…
UniCredit invites 10 banks for cash call consortium: sources
MILAN (Reuters) – Italian lender UniCredit has sent invitation letters to 10 banks to form the consortium for its planned multi-billion euro capital increase that should be launched in February, two sources closed to the matter said on Tuesday.
Euro chief Dijsselbloem sees London losing EU finance dominance
BRUSSELS (Reuters) – The European Union cannot let London remain the main financial center for the euro zone after Brexit if Britain does not want to be bound by EU financial rules, Eurogroup President Jeroen Dijsselbloem said on Tuesday.
OPEC experts end meeting, no agreement on detail
VIENNA (Reuters) – OPEC experts ended their meeting on Monday without agreeing on concrete details of a planned reduction in oil output by individual countries that will be presented to an OPEC ministerial gathering on Nov. 30, an OPEC source told Reut…
Warren slams Wells Fargo over arbitration position
NEW YORK (Reuters) – Massachusetts Democratic Senator Elizabeth Warren on Monday criticized Wells Fargo & Co’s decision to require customers affected by its unauthorized accounts scandal to go through arbitration rather than allowing them to sue.
Australian regulator set to oppose collective bank bargaining on Apple Pay
SYDNEY (Reuters) – Australia’s antitrust regulator said on Tuesday it is likely to deny four local banks permission to collectively bargain with Apple Inc in relation to its mobile digital payments system.
