Barclays to pick former JPMorgan banker as new CEO
NEW YORK/LONDON (Reuters) – British bank Barclays PLC is close to naming former JPMorgan Chase banker Jes Staley as chief executive, signaling a renewed focus on an investment banking division that has been pared back over the past three years.
Global shares fall as Chinese data dims economic outlook
LONDON (Reuters) – World share prices fell on Tuesday, snapping their longest winning streak since February after Chinese trade data gave a further sign the world’s economic growth engine is sputtering and a big fall in oil prices triggered profit-taki…
China to put growth before reform ambitions amid slowdown fear
BEIJING (Reuters) – Chinese leaders will signal that growth is their priority over reform for the world’s second-biggest economy by setting a growth target of around 7 percent in their next long-term plan even as the economy loses momentum, policy insi…
Former Anglo Irish Bank CEO to face extradition hearing in Boston
BOSTON (Reuters) – The former chief executive of Anglo Irish Bank is due in federal court in Boston on Tuesday for an extradition hearing as Irish authorities reportedly are preparing to charge him for his role in the collapse of that bank.
Citi dials down risky block trading amid market turmoil
NEW YORK (Reuters) – Over the summer, as the U.S. stock market wobbled and then plunged 4 percent in a day, Citigroup made a tough choice: to dial down risk-taking in the bank’s capital markets group.
Toyota: new Prius to get mileage of 40 km per liter in Japan versus 32.6 km per liter now
TOKYO (Reuters) – Toyota Motor Corp said on Tuesday the fourth-generation Prius hybrid model would have listed mileage of 40 km per liter (94 mpg) in Japan, improving fuel economy by more than a fifth from the current version’s 32.6 km/l.
Investment firm Fortress to shutter its macro hedge fund
BOSTON/NEW YORK (Reuters) – Fortress Investment Group is planning to close its global macro hedge fund after suffering heavy losses and Michael Novogratz, the fund’s portfolio manager, is expected to leave the hedge fund and private equity company, two…
VW began selling cars in UK with cheat software in 2008: boss
LONDON (Reuters) – Volkswagen first sold cars in Britain equipped with software that could cheat emissions tests in 2008, its UK boss said on Monday, but he shed little light on the root cause of the scandal.
Barclays set to name ex-JPMorgan banker Staley as new CEO
(Reuters) – Britain’s third largest bank Barclays PLC is close to naming former JPMorgan Chase banker Jes Staley as its new chief executive, a person with knowledge of the situation said on Monday.
CalPERS officers propose lower investment targets: WSJ
(Reuters) – The officers who run the California Public Employees’ Retirement System (CalPERS) are proposing to lower investment targets, a move that could lead to higher contributions for government workers across California, The Wall Street Journal re…
