Royal Bank of Scotland to shut 44 branches
(Reuters) – Part-nationalized Royal Bank of Scotland said on Wednesday it will close 44 branches, of which 14 are classed as “Last Banks in Town”, in the UK and Scotland.
U.S. senator accuses GM of ‘culture of cover-up’ in recalls
WASHINGTON (Reuters) – General Motors Co CEO Mary Barra came under withering attack for her company’s decade-long failure to deal with defective parts linked to fatal crashes, in a hearing where U.S. Senators accused the company of “criminal” behavior …
Amid rate-hike debate, Fed officials eye crystal ball
ST. LOUIS/MIAMI (Reuters) – Two top policymakers said on Wednesday the Federal Reserve was in no rush to raise interest rates and would have to see improvements in the U.S. economy to do so.
Alibaba’s IPO architect lays out blueprint for e-commerce empire
HONG KONG/BEIJING (Reuters) – Alibaba, the world’s biggest e-commerce company, changed how China shops. Now the man driving its blockbuster U.S. stock sale wants to transform the rest of the country’s services industry, adding new users to the giant’s …
Apocalypse Now? China ‘bears’ hope for their ‘told you so’ moment
SINGAPORE (Reuters) – “It’s like a horror movie. People like to watch, but don’t want to be in it,” quips economist Andy Xie about his popular lectures where he predicts a collapse in China’s property and stock markets.
U.S. gives foreign banks more time on anti-tax dodge law
WASHINGTON (Reuters) – The U.S. Treasury Department on Wednesday gave foreign financial institutions 10 extra days to register with the U.S. government, under a new law to combat offshore tax dodging by Americans that goes into effect on July 1.
Commodity chief Blythe Masters to leave JPMorgan
NEW YORK (Reuters) – Blythe Masters, one of Wall Street’s most powerful women, is leaving JPMorgan Chase & Co. after a 27-year career that began with an internship in London and concludes with the sale of the multibillion-dollar commodities business she built.
U.S. Treasury says pay will not increase for Ally Financial CEO
WASHINGTON (Reuters) – The Obama administration is holding the total compensation unchanged this year for the head of bailed-out auto lender Ally Financial , the Treasury Department said on Wednesday.
U.S. judge approves SEC settlement on insider trading of Heinz
NEW YORK (Reuters) – A federal judge has approved the U.S. Securities and Exchange Commission’s $4.8 million settlement with two Brazilian brothers it accused of insider trading in H.J. Heinz Co, after earlier having questioned why the accord did not i…
China rating agencies see Chaori default as only a hiccup
BEIJING (Reuters) – China’s rating agencies are likely to keep a long-held assumption of government bailouts built into most ratings despite the country’s first domestic bond defaults and warnings from Beijing that there is no blanket guarantee of supp…
