JPMorgan to pay $264 million to resolve China hiring probe: SEC, DoJ
WASHINGTON (Reuters) – JPMorgan Chase & Co has agreed to pay U.S. authorities $264 million to resolve allegations it hired the relatives of Chinese officials in order to win banking deals, the U.S. Securities and Exchange Commission and the Justice Department said in statements Thursday.
Carmakers show their caution on electric cars at Los Angeles Auto Show
LOS ANGELES (Reuters) – Electric cars are taking a back seat to more profitable trucks and sport utility vehicles at this year’s Los Angeles Auto Show, a venue that recently has been a showcase for green cars.
Volkswagen to hold press conference on VW brand overhaul on Friday
FRANKFURT (Reuters) – Volkswagen will hold a press conference on Friday attended by Chief Executive Matthias Mueller, among others, to discuss the revamp of its core VW brand, the German carmaker said on Thursday.
Sweden says euro zone should stick to budget rules, wants soft Brexit
STOCKHOLM (Reuters) – Loosening euro zone budget rules and spending more to boost growth and jobs would put the bloc’s recovery at risk, Sweden’s finance minister said on Thursday.
German minister says Facebook should be treated as a media company
BERLIN (Reuters) – Germany’s Justice Minister says he believes Facebook Inc. should be treated like a media company rather than a technology platform, suggesting he favors moves to make social media groups criminally liable for failing to remove hate …
U.S. inflation, labor market data bolster Fed December rate hike
WASHINGTON (Reuters) – U.S. consumer prices recorded their biggest increase in six months in October on rising gasoline costs and rents, suggesting a pickup in inflation that potentially clears the way for the Federal Reserve to raise interest rates in…
Top British American Tobacco investor Woodford says backs Reynolds deal
LONDON (Reuters) – Leading British investor Neil Woodford’s fund firm said on Thursday it backed a takeover of Reynolds American by British American Tobacco , calling the tie-up “inevitable”.
Wells Fargo account openings slow in October after scandal
(Reuters) – Wells Fargo & Co’s account openings slowed in October following a sales scandal that shattered the bank’s folksy image, triggered federal and state investigations, and cost the bank’s chief executive his job.
Falling food prices, warm weather hurt Wal-Mart sales
CHICAGO (Reuters) – Wal-Mart Stores Inc on Thursday reported lower-than-expected quarterly sales at established U.S. stores, hurt by declining food prices and warm weather that reduced demand for winter clothes and other seasonal items.
AOL to cut 500 jobs, mostly in corporate units: source
(Reuters) – Verizon Communications Inc’s AOL digital media unit will lay off 5 percent of its workforce, or about 500 people, to consolidate operations after recent acquisitions, a person familiar with the situation said on Thursday.
