Exclusive: GM says recalled cars safe, but has not tested for knee-bump danger
WASHINGTON (Reuters) – General Motors says that cars being recalled because of faulty ignition switches can be driven safely before repairs, based on more than 80 tests, but the automaker has not addressed a problem long known to potentially shut off t…
Ex-Goldman director Gupta starts prison term on June 17
NEW YORK (Reuters) – Former Goldman Sachs Group Inc director Rajat Gupta is expected to begin his two-year prison term on June 17 for insider trading.
Lululemon CEO looks beyond yoga wear for growth
TORONTO (Reuters) – Lululemon Athletica Inc , best known for its trendy yoga wear, hopes to drive growth in coming years by expanding its range of fitness-related apparel and accelerating international plans, its newly appointed chief executive said on…
China’s new breed of whistleblowers takes on big business
SHANGHAI (Reuters) – Chinese lawyer Hao Junbo wants to make you rich if you’re a whistleblower after a bounty. For big business in China he’s a headache, part of a small but fast-growing industry built around exposing corporate wrongdoing.
Singapore no home for luxury developers as cooling measures bite
SINGAPORE (Reuters) – Luxury property developers in Singapore are facing their worst sales outlook in six years as a raft of government measures to cool one of the world’s most expensive real estate markets bite.
Earnings lift S&P 500, Nasdaq; S&P’s best week since July
NEW YORK (Reuters) – Stocks ended a holiday-shortened week with mostly modest gains on Thursday, though the S&P 500 notched its biggest weekly advance since July as Morgan Stanley and General Electric rallied after strong results.
BlackRock’s quarterly profit climbs as investors pile into funds
NEW YORK (Reuters) – BlackRock Inc, the world’s largest money manager, said on Thursday first-quarter profit rose 20 percent, boosted by strong performance fees and strength in its retail business as investors poured money into long-term funds.
For Goldman Sachs and Morgan Stanley, boring is beautiful
(Reuters) – Investment banks Morgan Stanley and Goldman Sachs Group Inc posted better-than-expected quarterly earnings on Thursday, helped by gains in merger advisory and stock underwriting.
Jobless claims, factory data put some shine on economy
WASHINGTON (Reuters) – New claims for jobless benefits hovered near their pre-recession levels last week and manufacturing in the Mid-Atlantic region accelerated in April, suggesting an upswing in economic activity after a brutally cold winter.
Ex-BP employee settles SEC insider-trading oil spill case
WASHINGTON (Reuters) – A former 20-year veteran of BP plc who oversaw the company’s cleanup efforts from the Deepwater Horizon oil spill will pay more than $224,000 to settle civil charges alleging he used non-public information about the disaster to c…
