BofA ex-CFO agrees to settle N.Y. lawsuit over Merrill
(Reuters) – Bank of America Corp’s former finance chief, Joe Price, has agreed to pay $7.5 million to settle a New York lawsuit that accused the bank and its former executives of misleading investors during the lender’s acquisition of Merrill Lynch.
Tesla Motors says CEO Musk took $1 in salary last year
DETROIT (Reuters) – Tesla Motors Inc Chief Executive Elon Musk was paid about $70,000 in 2013 in salary and stock options, only a fragment of what he stands to eventually receive in company stock, Tesla said in a filing on Thursday with U.S. securities…
UAW Vice President Joe Ashton nominated to GM’s board
DETROIT (Reuters) – United Auto Workers Vice President Joe Ashton has been nominated to General Motors Co’s board as the representative for the healthcare trust for retired GM workers, the company said in a filing with the U.S. Securities and Exchange …
Barclays must face U.S. lawsuit over Libor, court rules
NEW YORK (Reuters) – A federal appeals court, reversing a lower court decision, said Barclays Plc shareholders may pursue a lawsuit accusing the British bank of causing them to lose money because it manipulated the interest rate known as Libor.
Investors eye Deutsche Bank capital ahead of quarterly earnings
FRANKFURT (Reuters) – An industry-wide slump in revenue from bond trading is expected to help push down Deutsche Bank’s pretax profit by 44 percent in the first quarter, adding fuel to talk Germany’s largest lender will need to raise equity capital.
Exclusive: Top UK investors to file $2 billion legal claims against RBS – sources
LONDON (Reuters) – Five of Britain’s biggest investors are set to file lawsuits against state-backed Royal Bank of Scotland next week, saying they were misled over its massive rights issue in 2008 and claiming more than 1 billion pounds back, sources s…
GE’s energy financing profits could double by 2020
NEW YORK (Reuters) – General Electric Co expects annual profit from energy investments to double to nearly $800 million by 2020, highlighting the conglomerate’s desire to remain a financing powerhouse for industry even as it slims its credit card portf…
U.S. consumer sentiment up more than expected in April
NEW YORK (Reuters) – U.S. consumer sentiment rose in April to a nine-month high as views on current and near-term conditions surged, a survey released on Friday showed.
GE in talks to buy Alstom’s power arm: sources
PARIS (Reuters) – U.S. industrial products giant General Electric is in talks to buy the global power turbines division of struggling French engineering group Alstom , according to two sources familiar with the discussions.
U.S. services sector expands at slower pace in April
NEW YORK (Reuters) – The U.S. services sector expanded in April at a slower rate than the previous month as employment creation decelerated, an industry report showed on Friday.
