BlackRock’s Fink tells S&P 500 firms to think long-term
NEW YORK (Reuters) – BlackRock Inc chief Larry Fink has asked the top executives of the 500 largest publicly listed U.S. companies urging them to take a long-term approach to create value for shareholders or risk losing his firm’s support.
Four Fed banks call for discount rate hike: minutes
WASHINGTON (Reuters) – Four regional Federal Reserve banks pushed to convince the central bank to raise the rate it charges commercial banks for emergency loans, meeting minutes released on Tuesday showed.
Exclusive: Wary of natural disaster, NY Fed bulks up in Chicago
NEW YORK (Reuters) – The New York branch of the U.S. Federal Reserve, wary that a natural disaster or other eventuality could shut down its market operations as it approaches an interest rate hike, has added staff and bulked up its satellite office in …
Nokia in talks to buy Alcatel-Lucent; France backs deal
HELSINKI/PARIS (Reuters) – Nokia Oyj is in talks to buy smaller telecom equipment maker Alcatel-Lucent , a deal combining the industry’s two weakest players that is backed by the French government but could pose challenges in cutting costs.
Exclusive: U.S. Senate Banking panel launches new investigative team
WASHINGTON (Reuters) – The U.S. Senate Banking Committee has set up an investigative team in recent weeks that will probe issues ranging from financial regulation to insurance fraud, part of a drive by its new chairman to beef up the panel’s oversight …
Avon exploring sale of North America business: WSJ
(Reuters) – Avon Products Inc , a direct seller of cosmetics, is exploring strategic alternatives, which could include a sale of its North America business, the Wall Street Journal reported on Tuesday.
J.C. Penney says executive inadvertently disclosed same-store sales
(Reuters) – Department store chain J.C. Penney Co Inc said on Tuesday that a senior executive inadvertently disclosed its same-store sales for the first quarter so far to an analyst.
Exclusive: Ford plans $2.5 billion investment in Mexico – sources
(Reuters) – Ford Motor Co on Friday will announce an investment of about $2.5 billion in Mexico, industry sources said, the latest multibillion-dollar outlay in the country’s booming auto sector.
Retail sales rebound signals thaw in economic activity
WASHINGTON (Reuters) – Retail sales rose in March for the first time since November as consumers stepped up purchases of automobiles and other goods, suggesting a sharp slowdown in economic growth in the first quarter was temporary.
Wells Fargo profit falls as employee costs rise
(Reuters) – Wells Fargo & Co , the largest U.S. mortgage lender, reported a drop in quarterly profit for the first time in five years as employee costs rose at a time margins are under pressure from low interest rates.
