Platinum Partners to liquidate two main funds amid government probes
NEW YORK (Reuters) – Platinum Partners has hired an independent monitor to oversee the liquidation of its two main hedge funds amid investigations by U.S. authorities, according to a letter sent to investors on Wednesday.
Daimler AG, Ferrari selling some new vehicles with faulty air bags: U.S. Senate report
WASHINGTON (Reuters) – Daimler AG’s Mercedes-Benz USA and Daimler Vans units and Ferrari NV are among a small group of automakers selling some new vehicles with faulty Takata airbags that will be subject to recalls by the end of 2018, a U.S. Senate rep…
Halliburton signals better demand for fracking equipment
(Reuters) – Halliburton Co indicated that demand for its fracking equipment was returning, despite the fewer number of rigs at work, as high-intensity shale drilling soaked up all the available capacity in the market.
Wal-Mart identifies eight chemicals to be removed from products
(Reuters) – Wal-Mart Stores Inc said on Wednesday it was pushing suppliers to remove eight hazardous chemicals from products including household cleaning, personal care and beauty items.
Pokemon Go seen making billions for Apple
(Reuters) – Apple Inc stands to rake in $3 billion in revenue from the Pokemon Go craze in the next one to two years as gamers buy “PokeCoins” from its app store, brokerage Needham & Co said.
U.S. Justice Department files lawsuits in connection with 1MDB probe
(Reuters) – The U.S. Department of Justice filed lawsuits on Wednesday seeking to seize dozens of properties tied to Malaysian state fund 1Malaysia Development Berhad (1MDB), saying that over $3.5 billion was misappropriated from the institution.
Exclusive: LVMH considers creative director change at Louis Vuitton – sources
PARIS (Reuters) – LVMH boss Bernard Arnault is considering a change of creative director at Louis Vuitton with the up-and-coming Jonathan Anderson, now at sister brand Loewe, viewed as the best candidate to replace Nicolas Ghesquiere, according to thre…
U.S. charges two HSBC executives over forex-related scheme
NEW YORK (Reuters) – A senior HSBC Holdings Plc manager has been arrested and charged alongside a former foreign exchange executive with engaging in a scheme to front-run a $3.5 billion transaction by one of the bank’s clients, U.S. prosecutors said o…
Brexit currency effect to have big impact on company results: report
NEW YORK (Reuters) – Currency market fluctuations following Britain’s vote to leave the European Union will hurt corporate results in the coming quarters, possibly resulting in a negative impact of as much as $35 billion to $40 billion, according to a …
Electronics retailers, seeing sales bump, tap into Pokemon Go frenzy
(Reuters) – Electronics and smart-phone retailers are seeing a jump in sales of mobile charging equipment since Pokemon GO was released in the United States two weeks ago and are now looking for more ways to drive potential customers into stores throug…
