China, Japan August factory surveys signal economic softness
BEIJING/TOKYO (Reuters) – China’s manufacturing activity hit a three-month low in August, raising the case for fresh policy steps to keep growth on track, while a Reuters poll showed Japan’s economic recovery is likely to be modest despite a small acce…
Exclusive: U.S. regulators step up warnings to banks for poor risk-spotting
NEW YORK (Reuters) – U.S. regulators are sending some of the biggest global banks verbal warnings as they crack down on the firms’ poor grasp of their own weaknesses, and push for rapid improvements in risk assessment, according to two sources familiar…
China economy fears deepen as August HSBC flash PMI at three-month low
BEIJING (Reuters) – Growth in China’s vast factory sector slowed to a three-month low in August as output and new orders moderated, a preliminary private survey showed on Thursday, heightening concerns about increasing softness in the economy.
Bosses of China’s state-owned firms face hefty pay cuts: paper
HONG KONG (Reuters) – Senior executives of China’s state-owned enterprises (SOEs) face pay cuts of up to 50 percent under a reform plan approved by President Xi Jinping, the South China Morning Post reported on Thursday, citing sources.
JPMorgan, BofA to raise junior banker pay by 20 percent: sources
NEW YORK (Reuters) – JPMorgan Chase & Co and Bank of America Corp are planning to hike salaries of junior employees by at least 20 percent, people familiar with the proceedings said.
Icahn reveals stake in Hertz, plans to push management
BOSTON (Reuters) – Billionaire investor Carl Icahn said on Wednesday that he owns an 8.5 percent stake in Hertz Global Holdings Inc and plans to pressure the rental car company’s management over accounting issues and operational failures.
KPMG says EU bank reforms should be shelved: Bloomberg
(Reuters) – Audit firm KPMG [KPMG.UL] has written to Europe’s largest lenders saying a European Commission plan to separate banks’ consumer and investment-banking arms should be shelved, Bloomberg reported on Thursday.
JPMorgan, BofA to raise junior banker pay by 20 percent: sources
NEW YORK (Reuters) – JPMorgan Chase & Co and Bank of America Corp are planning to hike salaries of junior employees by at least 20 percent, people familiar with the proceedings said.
Ex-Aeropostale exec gets eight years prison over kickbacks
NEW YORK (Reuters) – A former merchandising executive at teen apparel retailer Aeropostale Inc was sentenced to eight years in prison on Wednesday after being convicted of defrauding the company and taking more than $25 million in kickbacks from a key …
Hewlett-Packard posts surprise revenue gain after PC sales jump
SAN FRANCISCO (Reuters) – Hewlett-Packard Co posted a surprise increase in quarterly revenue after sales from its personal computer division climbed 12 percent, but a flat to declining performance from its other units underscored the company’s uphill b…
