Canada’s RBC confirms to release files linked to ‘Panama Papers’ firm
TORONTO (Reuters) – Canada’s biggest bank is handing over to the government names of clients with “relationships or connections” to a Panamanian law firm at the center of a massive leak of offshore financial data, the lender confirmed on Thursday.
Panama-based Balboa Bank & Trust seized following U.S. probe
PANAMA CITY (Reuters) – The U.S. Treasury on Thursday blacklisted an extensive Panama-based money laundering operation that allegedly helped multiple drug trafficking groups hide the source of their illicit gains through various companies, including Balboa Bank & Trust.
Time to raise inflation target? No, Fed officials say
PALO ALTO, Calif. (Reuters) – Global central bankers are having a hard time boosting economic growth and inflation to healthier levels, but raising inflation targets, as some analysts have suggested, is not the answer, Federal Reserve officials said on…
U.S. issues rule requiring banks to identify shell company owners
WASHINGTON/NEW YORK (Reuters) – The Obama administration is issuing a long-delayed rule requiring the financial industry to identify the real owners of companies and proposing a bill that would require companies to report the identities of their owners…
Herbalife in advanced talks to settle FTC probe, issues remain
(Reuters) – Herbalife Ltd, which has been accused by billionaire investor William Ackman of being a fraud, said it was in advanced talks with the U.S. Federal Trade Commission to settle a probe into whether it runs a pyramid scheme.
Delayed Karma: GoPro pushes drone launch to winter
(Reuters) – Wearable action camera GoPro Inc said on Thursday it would delay the launch of its drone, Karma, until the holiday shopping season.
Leapfrogging the IPO gridlock: Chinese companies get a taste for reverse takeovers
HONG KONG (Reuters) – Chinese firms looking to jump a massive queue of companies seeking to do initial public offerings (IPOs) and start trading their shares on the Shanghai or Shenzhen markets are increasingly going through the backdoor by taking cont…
Wall Street flat before April jobs report; retailers slip
(Reuters) – U.S. stocks gave up early gains to end flat on Thursday as consumer discretionary shares fell and investors showed caution ahead of the April jobs report.
DoubleLine’s Gundlach worrying about junk bonds, not recession
NEW YORK (Reuters) – Jeffrey Gundlach, the chief executive of DoubleLine Capital, on Thursday said he is worried that junk bond investors could recover exceptionally low amounts of principal when their debt goes into default.
Striking union workers protest at Verizon shareholder meeting
NEW YORK (Reuters) – Dozens of Verizon Communications Inc landline workers, on strike since mid-April after contract talks hit an impasse, marched on the company’s annual shareholder meeting in Albuquerque, New Mexico, on Thursday.
