Hong Kong court sets April date for Elliott case against BEA
HONG KONG (Reuters) – Elliott Management Corp’s legal proceedings against Bank of East Asia (BEA) and some of the bank’s directors and shareholders moved forward on Monday, with a Hong Kong court setting an April date to decide whether the case will g…
Yield targeting an innovative move but legal can of worms for ECB
FRANKFURT (Reuters) – Long-term yield targeting, an innovative move now adopted by the Bank of Japan, would solve many of the European Central Bank’s own problems but would probably raise even more, making the policy difficult to emulate.
U.S. carrier Verizon starts taking orders for new Samsung Note 7 phones
SEOUL (Reuters) – U.S. carrier Verizon Communications Inc has begun taking orders for Samsung Electronics Co Ltd’s new Galaxy Note 7 smartphones, after having stopped sales of the device earlier due to fire-prone batteries.
Oil prices rise on reported U.S. crude stock draw, Norway strike
SINGAPORE (Reuters) – Oil prices jumped over 1 percent on Wednesday, pushed by a reported draw in U.S. crude inventories and an oil service worker strike in Norway which may impact output.
Senate Republicans seek probe of Mylan EpiPen oversight
NEW YORK (Reuters) – Mylan NV faced new scrutiny over price hikes for its anti-allergy EpiPen on Tuesday, with U.S. lawmakers calling for a probe of oversight of the company’s rebates to government healthcare plans, while West Virginia said it was investigating whether Mylan defrauded its Medicaid department.
Salary of BHP CEO cut in half after Brazil mine disaster
SYDNEY (Reuters) – BHP Billiton Chief Executive Andrew Mackenzie’s annual salary was cut in half following the Samarco dam disaster in Brazil that claimed 19 lives and caused widespread environmental damage, the global miner said.
Senators push Wells Fargo CEO on pay clawbacks after bogus accounts
(Reuters) – U.S. Senate lawmakers excoriated Wells Fargo & Co’s chief on Tuesday for his oversight of the bank as it opened 2 million bogus customer accounts, potentially laying the groundwork for new rules and reviving questions of whether banks are “too big to fail.”
U.S. consumer protection agency fields nearly one million complaints
WASHINGTON (Reuters) – A leading consumer protection agency has fielded nearly 1 million complaints in a database that helped investigate client abuse at Wells Fargo, the head of the agency told lawmakers on Tuesday.
Full Hanjin ship can’t dock without plan to leave
(Reuters) – Failed South Korean cargo line Hanjin Shipping Co Ltd found the money to unload a full container ship waiting outside a New York-area port. But before the vessel was allowed to dock, it faced another problem: a plan to get back out to sea.
U.S. judge narrows currency rigging lawsuit against seven banks
NEW YORK (Reuters) – The U.S. judge overseeing litigation accusing 16 banks of rigging prices in the $5.3 trillion-a-day foreign exchange market on Tuesday narrowed but refused to dismiss lawsuits against Deutsche Bank , Morgan Stanley and five other …
