Wells Fargo extends credit card push in deal with Dillard’s
(Reuters) – Wells Fargo & Co said on Tuesday that it agreed to issue and service credit cards for retailer Dillard’s Inc , the latest move by the fourth-largest U.S. bank to boost its card business.
Pressure rises on Gross as investors pull $3.1 billion from Pimco’s flagship fund
NEW YORK (Reuters) – Investors pulled another $3.1 billion from Pimco’s flagship fund in March, the 11th straight month of outflows from the world’s largest bond fund, and its performance on the month lagged 95 percent of its peers due to a spate of wr…
CEO Barra calls GM’s actions on deadly defect ‘unacceptable’
WASHINGTON (Reuters) – General Motors Co CEO Mary Barra on Tuesday called her company’s slow response to at least 13 deaths linked to faulty ignition switches “unacceptable,” but could not give U.S. lawmakers many answers as to what went wrong as she p…
S&P 500 closes at record after manufacturing data
NEW YORK (Reuters) – U.S. stocks rose for a third straight session on Tuesday, with the S&P 500 ending at a record close, after positive data on factory activity indicated economic growth was gaining traction following a harsh winter.
SEC chair discusses probes into high-speed trading
WASHINGTON/NEW YORK (Reuters) – The U.S. Securities and Exchange Commission has several active investigations into possible wrongdoing by high-frequency stock traders and other equity market structure issues, SEC Chair Mary Jo White said Tuesday.
Brazil watchdog lifts suspension of Oi offer, paves way for merger
NEW YORK/SAO PAULO (Reuters) – Brazil’s securities industry watchdog CVM on Tuesday lifted a suspension on Grupo Oi SA’s 6 billion real ($2.7 billion) share offering, paving the way for the Brazilian telecommunications company’s merger with Portugal Te…
Caterpillar defends taxes attacked by U.S. Senate Democrat
WASHINGTON (Reuters) – Caterpillar Inc defended itself on Tuesday against accusations of offshore tax-dodging, telling a U.S. Senate panel that a low-tax unit the company set up years ago in Switzerland has not been challenged by U.S. tax authorities.
Exclusive: Widow of Zurich CFO to confront insurer at AGM over suicide
ZURICH (Reuters) – Seven months after the suicide of Zurich Insurance finance chief Pierre Wauthier, his widow is set to confront the company over its handling of the tragedy, reopening a scandal that unsettled investors.
U.S. factory activity picks up, more gains eyed as winter fades
WASHINGTON (Reuters) – U.S. factory activity accelerated for a second straight month in March and auto sales surged, the latest signs the economy was regaining footing after a brutal winter.
Investors scoop up new U.S. platinum coins as gold slumps
NEW YORK (Reuters) – U.S. retail investors have raced to scoop up the government’s newly launched platinum coins, data shows, as industrial metals prices outperformed bullion, a long-time favorite among collectors.
