Barclays Chairman McFarlane axes CEO
LONDON (Reuters) – Barclays Chairman John McFarlane has fired the British bank’s chief executive after he had lost the support of non-executive directors in a clash over style and the pace of the bank’s turnaround.
JPM to reform credit card collection in settlement with U.S., states
(Reuters) – JPMorgan Chase & Co will pay $136 million and reform its credit card debt collection practices as part of a joint state-federal settlement of a probe that found it had acted illegally, U.S. authorities said on Wednesday.
Former trader Hayes ignored 2009 warning, Libor trial hears
LONDON (Reuters) – Tom Hayes, the former trader on trial on Libor interest rate rigging charges, told a London court on Wednesday he ignored a 2009 warning to stop trying to influence rates in part because he was pre-occupied with moving jobs.
More data needed before Fed can hike, as Greek worries loom: Fed minutes
WASHINGTON/NEW YORK (Reuters) – Federal Reserve officials needed to see more signs of a strengthening U.S. economy before raising interest rates, according to minutes of a June Fed policy meeting, at which Greece’s debt crisis was cited as a serious co…
India, U.S. to sign tax pact Thursday: sources
NEW DELHI (Reuters) – India and the United States will sign a tax information sharing agreement on Thursday, under a new U.S. law meant to combat offshore tax dodging by Americans, two Indian government sources and a source at the U.S. embassy said.
Citibank seeks go-ahead to boost Vietnam presence
HANOI (Reuters) – Citibank NA, a unit of Citigroup Inc , said it will get the go-ahead soon from Vietnam’s central bank to set up a subsidiary in the country, which would make it the seventh wholly foreign-owned lender to operate in Vietnam.
Apple plans record initial production of new iPhones: WSJ
(Reuters) – Apple Inc is preparing for the largest initial production run for its next iPhones by the end of the year, the Wall Street journal reported.
Twitter rolls out suite of direct response ad products after struggles
SAN FRANCISCO (Reuters) – Twitter Inc rolled out three new products for its direct response advertising on Wednesday, two months after the company said weak demand for the product had lowered its revenue forecast for the year.
NYSE temporarily suspends trading of all securities
NEW YORK (Reuters) – (This version of the story was refiled to change day of week in first paragraph to Wednesday from Tuesday)
China stock market freezing up as sell-off gathers pace
SHANGHAI (Reuters) – China’s tumbling stock market showed signs of seizing up on Wednesday, as companies scrambled to escape the rout by having their shares suspended and indexes plunged after the securities regulator warned of “panic sentiment” grippi…
