Italian banks’ situation ‘difficult but manageable’: minister
CERNOBBIO, Italy (Reuters) – Italian banks can deal over the next two to three years with a pile of bad loans that grew during a deep recession, the country’s economy minister said, adding that the situation of their balance sheets was “difficult but m…
Panama law firm says it hasn’t been approached by investigators yet
BERLIN (Reuters) – The founding partner of Mossack Fonseca, the Panamanian law firm hit by a huge leak of offshore financial data, told a German newspaper his company had not yet been approached by anyone as part of investigations.
Wells Fargo admits deception in $1.2 billion U.S. mortgage accord
(Reuters) – Wells Fargo & Co admitted to deceiving the U.S. government into insuring thousands of risky mortgages, as it formally reached a record $1.2 billion settlement of a U.S. Department of Justice lawsuit.
Shanghai wealth management firm comes crashing to earth as executives arrested
SHANGHAI (Reuters) – Zhongjin Capital Management made a splash in the past couple of years in Shanghai. The wealth management firm’s imposing branch office on Shanghai’s historic Bund pulled in many eager investors seeking the double-digit returns it promised on short-term financing products. It had a big profile, sponsoring popular Shanghai TV dating program “Saturday Date” and signed up domestic billiards star Pan Xiaoting as a spokesperson.
U.S. to continue appeal of iPhone data case in New York
(Reuters) – The U.S. Justice Department on Friday said it would keep fighting to force Apple Inc to open an iPhone in a New York drug case, continuing its controversial effort to require Apple and other tech companies to help law enforcement authoritie…
Another ignition-switch case against GM dismissed
(Reuters) – General Motors Co said on Friday that plaintiffs’ lawyers suing over a faulty ignition switch linked to nearly 400 injuries and deaths have chosen to dismiss what was scheduled to be the fourth in a series of six test trials over the defect…
Wall St. ends higher but indexes post weekly losses
(Reuters) – A sharp rally in crude oil and energy shares lifted U.S. stocks on Friday, but indexes registered losses for the week.
France, Germany halt Airbus export credit amid UK probe
PARIS/BERLIN (Reuters) – France and Germany have joined Britain in suspending export credit facilities for Airbus jet deliveries, expanding the fallout from a potential corruption probe in Britain, several people familiar with the matter said on Friday…
Yahoo extends deadline for bids by a week: Re/code
(Reuters) – Yahoo Inc has extended the deadline to bid for its businesses by a week to April 18, technology news website Re/code reported, citing people familiar with the matter.
Goldman Sachs pays CEO Blankfein $22.6 million for 2015
(Reuters) – Goldman Sachs Group Inc paid Chief Executive Lloyd Blankfein $22.6 million for 2015, according to a regulatory filing on Friday, marking his first pay decline in four years.
