Merck says still plans to buy Cubist, despite patent setback
(Reuters) – Merck & Co Inc said on Tuesday it will proceed with its planned $8.4 billion purchase of Cubist Pharmaceuticals Inc and still expects the deal to boost its long-term earnings, despite a court ruling that could speed the arrival of generic forms of Cubist’s top-selling product.
Citigroup to post $2.7 billion in added legal costs in fourth quarter: CEO
(Reuters) – Citigroup Inc will record $2.7 billion in litigation expenses and another $800 million in repositioning charges, leaving the third-largest U.S. bank “marginally profitable” in the fourth quarter, its chief executive officer said on Tuesday….
U.S. extends scrutiny of Standard Chartered on sanctions compliance
(Reuters) – Standard Chartered will face another three years of scrutiny by U.S. prosecutors for compliance with government sanctions against certain countries, according to documents filed on Tuesday that also noted another probe of the bank is underw…
UBS wants ‘super-teams’ to draw more assets from the very wealthy
NEW YORK (Reuters) – UBS AG aims to triple the assets that its U.S. wealth management clients keep in fee-based accounts within seven to 10 years, a top executive said on Tuesday.
Five ex-Madoff aides face up to 20 years in prison
NEW YORK (Reuters) – (This report published on December 07, 2014 has been updated to correct the spelling of Bonventre’s name)
Ex-Madoff manager, computer programmer get prison terms
NEW YORK (Reuters) – A former manager and a former computer programmer at Bernard Madoff’s firm were sentenced to prison on Tuesday for helping the convicted fraudster run a multi-billion dollar Ponzi scheme.
Oil up after five-year low in Brent; traders wary of more downside
NEW YORK (Reuters) – Brent prices ended higher on Tuesday after a 5-year low and five straight days of losses and U.S. crude also rose as players sought a sustainable price for oil in a market haunted by oversupply concerns.
UAW wants works council with ‘Tennessee flavor’ at VW plant
(Reuters) – The United Auto Workers union said on Tuesday it will train workers at Volkswagen AG’s plant in Chattanooga, Tennessee, in an effort to form a U.S. version of a German-style works council, while continuing to push for collective bargaining …
U.S. employers are posting a lot more job openings
WASHINGTON (Reuters) – The number of job openings in the United States rose to a near 13-year high in October, a hopeful sign for the U.S. economy and labor market.
Boeing to cut 747-8 output starting Sept 2015 amid slow cargo market
NEW YORK (Reuters) – Boeing Co said on Tuesday it will cut production of its iconic 747-8 jumbo jet to 1.3 planes per month from 1.5 per month, starting September 2015.
