StanChart picks ex-JPMorgan exec Winters as CEO in major overhaul
LONDON/HONG KONG (Reuters) – Standard Chartered said former JPMorgan investment bank boss Bill Winters will take over as chief executive in June, replacing Peter Sands in a major management overhaul following two years of problems.
Global equities hit new record as cheap money reigns
LONDON (Reuters) – Global equities set a new record high and bond yields sank to fresh lows on Thursday as investors positioned for an extended era of cheap money ahead of the European Central Bank’s looming bond-buying scheme.
Tougher Internet rules to hit cable, telecoms companies
WASHINGTON (Reuters) – U.S. regulators are poised to impose the toughest rules yet on Internet service providers, aiming to ensure fair treatment of all web traffic through their networks.
Allianz earnings and dividend disappoint, shares down
MUNICH (Reuters) – German insurer Allianz raised its dividend by less than expected after earnings in its core property and casualty insurance businesses lagged and asset management stalled following client defections at its U.S. unit Pimco.
Euro zone lending shows sign of turnaround as morale improves
FRANKFURT (Reuters) – Bank lending in the euro zone fell slightly in January but at a slower pace than a month earlier, suggesting the economy may be turning a corner as consumer morale picks up in the bloc’s largest economies.
Samsung Elec to freeze salaries in South Korea for first time since 2009
SEOUL (Reuters) – Samsung Electronics will freeze wages in 2015 for employees in South Korea for the first time in six years, after the world’s biggest smartphone maker saw profits fall in the face of rising competition.
Spain’s Iberdrola to buy UIL Holdings for about $3 billion
(Reuters) – Spanish utility Iberdrola SA will buy UIL Holdings Corp for about $3 billion to create a new listed power and gas company and expand in the United States, where it hopes to offset falling profits at home.
GM cuts capacity, jobs in Indonesia, where Japanese dominate
BEIJING (Reuters) – General Motors is to stop making cars in Indonesia, a battleground for global automakers in emerging Southeast Asia, closing an assembly plant, axing some 500 jobs and shifting its branding focus to sport utility vehicles (SUVs).
Exclusive: China drops leading tech brands for state purchases
BEIJING (Reuters) – China has dropped some of the world’s leading technology brands from its approved state purchase lists, while approving thousands more locally made products, in what some say is a response to revelations of widespread Western cybers…
Boeing, FedEx battle back vs U.S. airlines on Gulf competition
(Reuters) – A push by three U.S. airlines to curb competition from Gulf state carriers has triggered a sharp response from other powerful U.S. aviation companies including Boeing Co and FedEx Corp , potentially complicating the airlines’ campaign for Obama administration support.
