BNP CEO: French banks should pay only two thirds of bailout contribution
PARIS (Reuters) – French banks should pay only 10 billion euros ($12.5 billion) of the 16 billion they are being asked to contribute to a proposed EU bailout fund, BNP Paribas chief executive Jean-Laurent Bonnafé said in an interview in Le Figaro on Saturday.
German pilots won’t strike during negotiations with Lufthansa: Focus
FRANKFURT (Reuters) – German pilots’ union Vereinigung Cockpit (VC) will abstain from industrial action during negotiations with airline Lufthansa over pay and early retirement benefits, Germany’s Focus magazine reported.
China’s October factory growth unexpectedly hits five-month low: official PMI
BEIJING (Reuters) – China’s factory activity unexpectedly fell to a five-month low in October as firms fought slowing orders and rising costs in the cooling economy, reinforcing views that the country’s growth outlook is hazy at best.
J.P. Morgan found hackers through breach of corporate event website: media
(Reuters) – J.P. Morgan Chase & Co learned about hackers who stole the bank’s contact information for 76 million households and 7 million small businesses through a corporate event that it sponsors, the New York Times and Wall Street Journal reported, citing people familiar with the matter.
Herbalife to pay $15 million to settle class action lawsuit
(Reuters) – Herbalife Ltd would pay $15 million to settle an 18-month battle over a class action lawsuit brought by a former distributor claiming that the nutrition and supplements company is running an alleged pyramid scheme, according to a U.S. court…
Takata must rev up air bag replacement effort: U.S. safety officials
DETROIT (Reuters) – U.S. auto safety officials on Friday told Japan’s Takata Corp to work harder to meet demand for replacement parts for air bags that could prove defective in millions of U.S. cars.
Unknown election outcome is stocks’ big fear
NEW YORK (Reuters) – A handful of toss-up U.S. Senate races next week could hold the key to whether the stock market glides through the year-end in a typical post-midterm election rally or gets hit with a fresh bout of volatility.
Exclusive: U.S. probing Standard Chartered over Dubai banking – sources
NEW YORK (Reuters) – U.S. authorities are investigating London-based Standard Chartered Plc for potential U.S. sanctions violations connected to its banking for Iranian-controlled entities in Dubai, according to people familiar with the probe.
Dow, S&P 500 end at record highs; BoJ move adds fuel to rally
NEW YORK (Reuters) – The Dow and S&P 500 ended at record highs on Friday and other indexes posted strong gains for a second week after the Bank of Japan’s surprise move to ramp up its stimulus program.
Canada willing to take action against U.S. over meat labeling
TORONTO (Reuters) – Canada will pursue “any and all remedies” to pressure the United States to drop regulations on meat labeling that Canada considers discriminatory, the country’s trade minister said on Friday.
