After pulling billions, former Pimco investors may not be better off
NEW YORK (Reuters) – When Bill Gross bolted Pimco in late September after months of mediocre performance in his Total Return Fund, clients including Wells Fargo & Co. WFC.N and Charles Schwab Corp SCHW.N pulled over $61 billion from the Newport Beach, California-based money manager. Where the money landed may be no better than where it left.
RadioShack to stop matching for 401(k) retirement plans: Bloomberg
(Reuters) – Electronics retailer RadioShack Corp will stop matching employees’ retirement-fund contributions and review health benefits to help cut costs, Bloomberg reported on Thursday, citing an internal memo.
JPMorgan continues run as top ranked investment bank
LONDON (Reuters) – U.S. bank JPMorgan retained its crown as the top performing investment bank in the first nine months of the year, having made revenue of $17.1 billion in the year-to-date, new data showed on Friday.
Barnes & Noble, Microsoft end Nook Media pact
(Reuters) – Barnes & Noble Inc struck a deal to buy Microsoft Corp’s stake in Nook Media LLC, ending a two-year partnership and clearing the way for the bookseller to spin off its loss-making e-reader and digital content division.
After pulling billions, former Pimco investors may not be better off
NEW YORK (Reuters) – When Bill Gross bolted Pimco in late September after months of mediocre performance in his Total Return Fund, clients including Wells Fargo & Co. WFC.N and Charles Schwab Corp SCHW.N pulled over $61 billion from the Newport Beach, California-based money manager. Where the money landed may be no better than where it left.
Mazda expands recall for U.S. cars with Takata passenger air bags
DETROIT (Reuters) – Mazda Motor Corp said on Thursday it will expand to additional states its recall of vehicles with Takata Corp passenger-side air bags after U.S. regulators requested it.
Wall Street ends with slight losses, energy weighs again
NEW YORK (Reuters) – U.S. stocks ended slightly lower on Thursday after European Central Bank President Mario Draghi brushed off pressure for more immediate monetary policy action but said the issue would be addressed early next year.
SEC’s Stein says Bank of America waiver policy is ‘breakthrough’
WASHINGTON (Reuters) – A top U.S. regulator praised the structure of a regulatory waiver granted last month to Bank of America Corp, saying the tougher conditions imposed on the bank may help deter repeat offenses.
BMW tries to succeed where Daimler failed with London car-share scheme
LONDON (Reuters) – BMW launched its car-sharing service in London on Thursday, barely six months after fellow German carmaker Daimler said it was shutting its equivalent initiative in Britain.
Draghi says will not allow dissenters to block possible ECB action
FRANKFURT/BERLIN (Reuters) – The European Central Bank will decide early next year whether to take further action to revive the euro zone’s economy, its president said on Thursday, signalling that he would not allow opposition from Germany or anyone el…
