Valeant names interim CEO; timing of Pearson’s return unknown
(Reuters) – Valeant Pharmaceuticals International Inc on Wednesday named board member and former Chief Financial Officer Howard Schiller as interim chief executive officer to replace Michael Pearson, who has been in the hospital with severe pneumonia s…
Strong U.S. private payrolls data point to economy’s resilience
WASHINGTON (Reuters) – U.S. private companies added workers at a brisk clip in December, pointing to underlying strength in the economy despite signs that growth slowed sharply in the fourth quarter.
Monsanto trims outlook, reports smaller-than-expected loss
(Reuters) – Monsanto Co, the world’s largest seed company, said it expects 2016 earnings to be in the lower half of its previous forecast but reported a smaller-than-expected quarterly loss as soybean sales rose in Brazil.
JPMorgan’s Dimon, others defeat Madoff fraud appeal
NEW YORK (Reuters) – JPMorgan Chase & Co shareholders cannot pursue a lawsuit to force Chief Executive Jamie Dimon and other officials to pay damages to the largest U.S. bank for their alleged ignorance of red flags signaling Bernard Madoff’s Ponzi scheme, a federal appeals court ruled on Wednesday.
AutoNation CEO warns automakers not to push sales by incentives
LAS VEGAS (Reuters) – The head of the largest U.S. auto dealer group warned on Wednesday that automakers and dealers must avoid the problems in the years immediately following 2000, when lofty incentives kept sales volume high but cut profits.
JPMorgan to pay $4 million for false statements about broker pay: SEC
(Reuters) – JP Morgan Chase & Co’s brokerage unit will pay $4 million to settle allegations it misled customers about the form of compensation it paid to brokers, the U.S. Securities and Exchange Commission said on Wednesday.
Volkswagen repositioning may take two-three years: CEO in Wirtschaftswoche
BERLIN (Reuters) – Volkswagen is facing a time-consuming overhaul as the carmaker adopts a new company structure and adjusts the strategy of its brands in the wake of an emissions scandal, German magazine Wirtschaftswoche quoted Chief Executive Matthia…
Fed’s Fischer says four rate hikes in 2016 ‘in the ballpark’
WASHINGTON (Reuters) – Federal Reserve Vice Chairman Stanley Fischer said on Wednesday that four rate hikes by the U.S. central bank this year is close to his expectations, but added that global uncertainty could still veer this path off course.
Why I can’t buy Minion toys with Chinese yuan
BASILDON, England (Reuters) – British businessman Tony Brown is ready to pay in Chinese yuan for the cuddly toys and other funfair stall prizes he buys from a handful of Chinese factories. But they just don’t want it.
Shuttered up: As China slows, Hong Kong company closures hit record
HONG KONG (Reuters) – A record number of Hong Kong firms shut up shop last year as China, the mainstay of the city’s economy, trundled to its slowest economic growth in a quarter of a century and spending by mainland visitors dried up.
