As IPO nears, Alibaba preps employees for $40 billion windfall
HONG KONG (Reuters) – As Alibaba prepares for what could be the biggest tech company IPO to date, the Chinese e-commerce giant has been counseling employees on how to deal with the roughly $41 billion they could unlock through a New York listing.
GM to release findings of internal probe of bad switch Thursday
DETROIT (Reuters) – General Motors Co will hold a news conference on Thursday at which it is expected to release the findings of the company’s internal probe into why it took so long to discover a defective ignition switch linked to at least 13 deaths….
U.S. appeals court voids judge’s rejection of SEC-Citigroup accord
NEW YORK/WASHINGTON (Reuters) – A federal appeals court on Wednesday handed the U.S. Securities and Exchange Commission a big victory by voiding a judge’s pathbreaking decision to reject the regulator’s $285 million fraud settlement with Citigroup Inc …
Walmart’s ‘Made in USA’ push exposes strains of manufacturing rebirth
(Reuters) – When Walmart pledged last year to buy an extra $250 billion in U.S.-made goods over the next decade, it appeared to be just what was needed to help move America’s putative manufacturing renaissance from rhetoric to reality.
Economy on solid ground despite cooler hiring
WASHINGTON (Reuters) – U.S. companies hired far fewer workers than expected in May, but an acceleration in services sector growth supported views the economy was regaining strength after sagging early this year.
Hollande to raise possible ‘disproportionate’ BNP fine with Obama
PARIS (Reuters) – French President Francois Hollande said on Wednesday he will raise concerns about a possible $10 billion-plus U.S. fine on BNP Paribas BNPP.PA that he considers “disproportionate” with his U.S. counterpart Barack Obama.
Fed may shun global risk rules banks spent billions to meet
NEW YORK/WASHINGTON (Reuters) – The Federal Reserve may scrap elements of international measures aimed at assessing bank health in favor of imposing its own rules, frustrating bankers who have spent billions of dollars retooling their books to meet glo…
U.S. services sector grows at fastest rate in more than two years: Markit
NEW YORK, (Reuters) – The U.S. services sector expanded in May at its fastest rate since March 2012, an industry report showed on Wednesday, though the pace was revised down from a preliminary read on the month.
Exclusive: India likely to ease restrictions for foreign online retailers in July
MUMBAI/NEW DELHI (Reuters) – India could allow global online retailers such as Amazon.com Inc to sell their own products as early as next month, removing restrictions that have held back competition in one of the world’s biggest, and most price-sensiti…
U.S. private sector adds 179,000 jobs in May: ADP
NEW YORK (Reuters) – U.S. companies hired 179,000 workers in May, marking the lowest monthly increase since January and missing market expectations, a report by a payrolls processor showed on Wednesday.
