Sony to pay up to $8 million in ‘Interview’ hacking lawsuit
(Reuters) – Sony Pictures Entertainment Inc has agreed to pay up to $8 million to resolve a lawsuit by employees who claimed their personal data was stolen in a 2014 hacking tied to the studio’s release of a comedy set in North Korea, “The Interview.”
U.S. ends probe of Wal-Mart on ‘Made in USA’ logo
WASHINGTON (Reuters) – The Federal Trade Commission, which enforces U.S. laws against deceptive ads, said Tuesday that it had closed a probe of Wal-Mart Stores Inc after the company addressed the problem of products advertised as “Made in USA” when the…
Harley-Davidson third-quarter profit falls, stock hits two-year low
(Reuters) – Motorcycle manufacturer Harley-Davidson Inc. on Tuesday posted lower quarterly earnings, reduced profit guidance and said it planned to eliminate jobs, sending the company’s shares to a two-year low.
Asia private equity funds hurt Morgan Stanley’s third-quarter profit
HONG KONG (Reuters) – A dramatic fall in the value of Morgan Stanley’s Asian private equity funds hit the bank’s quarterly earnings, highlighting the risks of such investing at a time when rivals are scaling back to avoid losses and higher regulatory c…
Yum Brands to separate China unit amid activist pressure
(Reuters) – KFC owner Yum Brands Inc said it plans to spin off its dominant China business, which has been besieged by food scandals and marketing missteps, amid pressure from an activist shareholder who recently joined its board of directors.
Areva says to cut 2,700 jobs in France by 2017
PARIS (Reuters) – Areva plans to cut 2,700 jobs in France by 2017 as it restructures, the French nuclear group said in a statement on Tuesday following presentations to staff representatives.
BNY Mellon’s cost-cutting drive hit by software outage
BOSTON (Reuters) – Bank of New York Mellon Corp on Tuesday reported third-quarter results that beat expectations, but said its cost-cutting drive was interrupted by a summertime software outage that forced it to compensate clients.
IBM shares hit five-year low after disappointing results
(Reuters) – Shares of International Business Machines Corp hit a five-year low on Tuesday, a day after the company’s lackluster results and forecast showed that it would be a while before its focus on lucrative cloud computing business makes up for rev…
Hedge funds suffer biggest quarterly drop in assets since 2008: data
BOSTON (Reuters) – Hedge funds suffered their biggest quarterly loss in assets since the financial crisis during the three months that ended in September, data released on Tuesday showed, putting the industry on track for its worst year since 2008.
Airbus taps Siemens executive to run defense business
PARIS/FRANKFURT (Reuters) – Airbus Group has named Siemens executive Dirk Hoke as the next head of its Defence and Space division, recruiting an industrial high-flyer with no previous aerospace experience to regenerate its second-largest division.
