What’s in a name? Islamic banking rebrands in attempt to go mainstream
(Reuters) – Islamic banking is based on core principles of the religion. So it is striking that some banks are removing the word “Islam” from their names – a sign of both the potential of Islamic finance to grow, and the obstacles to it becoming mainst…
Global investors pare risky bond holdings, brace for sell-off
NEW YORK (Reuters) – Some of the biggest global investors have started to pull back from riskier fixed-income assets even as the Federal Reserve keeps on a green light for risk.
Lenovo expects IBM, Mobility deals to be completed by year end
HONG KONG (Reuters) – Proposed purchases by China’s Lenovo Group Ltd of IBM Corp’s low-end server unit and Google Inc’s Motorola Mobility business should be completed by year-end, Lenovo Chief Executive Officer Yang Yuanqing said on Wednesday.
JPMorgan’s Dimon has throat cancer, to begin treatment shortly
NEW YORK (Reuters) – JPMorgan Chase & Co Chief Executive Officer Jamie Dimon said he has been diagnosed with throat cancer but that the ailment is curable and he plans to remain actively involved in the largest U.S. bank’s business.
JPMorgan CEO Dimon says has curable throat cancer
NEW YORK (Reuters) – JPMorgan Chase & Co Chief Executive Jamie Dimon told the bank’s employees and shareholders on Tuesday that he has been diagnosed with curable throat cancer.
Ousted American Apparel CEO Charney reports 43 percent stake
(Reuters) – Dov Charney, ousted as American Apparel Inc’s APP.A chairman and chief executive two weeks ago, said he has increased his stake in the apparel retailer to 43 percent, as he fights to regain control of the company he founded.
Hyundai Motor recalls 58,000 Elantra Touring cars in North America
DETROIT (Reuters) – Hyundai Motor Co is recalling 58,000 Elantra Touring cars in the United States and Canada from model years 2010 to 2012 because a support bracket to the car’s headliner may become displaced during a side curtain air bag deployment, …
U.S. factory, auto sales data bolster growth outlook
WASHINGTON (Reuters) – U.S. manufacturing activity rose at a steady clip in June and automobile sales raced to their highest level in almost eight years, pointing to momentum in the economy after a turbulent start to the year.
Two counts tossed in Rajaratnam brother’s insider trading trial
NEW YORK (Reuters) – A U.S. judge on Tuesday dismissed two securities fraud counts against Rengan Rajaratnam, the younger brother of Galleon Group founder Raj Rajaratnam, in a surprise development in the federal criminal insider trading case.
U.S. imposes record fine on BNP in sanctions warning to banks
NEW YORK/WASHINGTON/PARIS (Reuters) – French bank BNP Paribas BNPP.PA has pleaded guilty to two criminal charges and agreed to pay almost $9 billion to resolve accusations it violated U.S. sanctions against Sudan, Cuba and Iran, a severe punishment aim…
