Morgan Stanley to defer less of employees’ future bonuses
NEW YORK (Reuters) – Morgan Stanley said on Friday it will pay more of its bonuses to employees upfront and defer less, because the bank is on a better financial footing and can move its pay practices more in line with those of competitors.
Wall Street’s fear gauge dips on upbeat jobs report
NEW YORK (Reuters) – Wall Street’s fear gauge, the CBOE Volatility Index , dipped sharply on Friday after a surprisingly strong jobs report, and there was a surge in put activity in the index’s options.
GM’s recall of mid-sized pickups affects 2,432 vehicles in U.S., Canada
DETROIT (Reuters) – General Motors Co disclosed on Friday that it recalled more than 2,400 of its new mid-sized pickup trucks in the United States and Canada to fix a previously announced air bag issue.
Global oil prices slide, rout undeterred by U.S. jobs data
NEW YORK (Reuters) – Global oil prices slid further on Friday, with Brent on track for the first weekly close below $70 a barrel since 2010, as strong U.S. employment data did little to lift the oil market’s bearish mood a day after Saudi Arabia cut of…
Former ICAP trio plead not guilty to Libor fraud charges
LONDON (Reuters) – Three former ICAP brokers pleaded not guilty in London on Friday to criminal charges that they had sought to manipulate benchmark interest rates, setting the scene for a high profile trial next year.
Financials lead Wall St higher; utilities lag
NEW YORK (Reuters) – Bank shares led gains Friday on Wall Street after November payrolls data came in much stronger than anticipated, raising market expectations a rate hike from the Federal Reserve may materialize sooner than previously thought.
Bebe Stores confirms payment card security breach
(Reuters) – Bebe Stores Inc said it detected a hacking attack on its payment processing system that could have compromised data from cards swiped in its stores in the United States, Puerto Rico and U.S. Virgin Islands.
JPMorgan’s Dimon says ‘no evidence of cancer’
(Reuters) – JPMorgan Chase & Co Chief Executive Jamie Dimon said medical tests showed “no evidence of cancer in my body,” according to an internal memo seen by Reuters.
U.S. factory orders fall for third straight month
WASHINGTON (Reuters) – New orders for U.S. factory goods fell for a third straight month in October, pointing to a slowdown in manufacturing activity.
Court case comes back to cloud Bankia recovery plan
MADRID (Reuters) – A long-running court investigation into the flotation and bailout of Bankia , which could end with the Spanish bank having to pay 3 billion euros ($3.7 billion) to wiped-out shareholders, is coming back to cloud the lender’s future.
