U.S. banks enjoy ‘too-big-to-fail’ advantage: Fed study
NEW YORK (Reuters) – A landmark study by Federal Reserve economists found that large U.S. banks enjoy a “too-big-to-fail” advantage in financial markets, joining a heated debate that could influence regulators that are implementing tough new rules for …
FAA tells Boeing to fix 747-8 software to avoid crash
WASHINGTON (Reuters) – The U.S. Federal Aviation Administration on Tuesday ordered an immediate fix to the latest version of Boeing Co’s 747-8 plane, saying a software glitch could cause it to lose thrust when close to landing and fly into the ground.
S&P’s removes Generali from negative credit watch, affirms rating
MILAN (Reuters) – U.S. rating agency Standard & Poor’s has removed Generali from its Credit Watch list, saying Italy’s biggest insurer would not exhaust its regulatory capital even if its home country were to default on its debt.
Top Dimon aide Cavanagh leaves JPMorgan for Carlyle
NEW YORK (Reuters) – Private equity firm Carlyle Group LP poached one of Jamie Dimon’s closest aides, Michael Cavanagh, from JPMorgan Chase & Co on Tuesday, in a surprise hire that reflects both the increasing prominence of so-called shadow banking and the regulatory challenges faced by banks.
Companies must pay taxes on severance payments: U.S. high court
WASHINGTON (Reuters) – The U.S. Supreme Court ruled on Tuesday that taxes are due for Social Security and Medicare on severance packages paid to workers who are laid off involuntarily, overturning a lower court ruling that could have led to a wave of p…
Germany’s Bundesbank opens door to QE in Europe
FRANKFURT (Reuters) – The European Central Bank could buy loans and other assets from banks to help support the euro zone economy, Germany’s Bundesbank said, marking a radical softening of its stance on the contested policy.
Bullish consumers, rising home prices brighten U.S. growth picture
WASHINGTON (Reuters) – U.S. consumer confidence surged to a six-year high in March and house prices increased solidly in January, positioning the economy for stronger growth after a weather-induced soft spot.
UK to sell Lloyds Bank shares worth $6.9 billion
LONDON (Reuters) – Britain will sell a further 7.5 percent stake in Lloyds Banking Group , worth about 4.2 billion pounds ($6.9 billion), via a placing to institutional investors, UK Financial Investments (UKFI) said on Tuesday.
Microsoft’s CEO may come out swinging
SEATTLE (Reuters) – Satya Nadella, the Indian-born self-described cricket fanatic who took over as Microsoft Corp’s chief executive last month, makes his public debut on Thursday and is expected to go on the offensive right away with some bold strokes….
Exclusive: Bank of Cyprus kicks off review of restructuring plans
NICOSIA (Reuters) – Bailed-out Bank of Cyprus is reviewing its restructuring plans in a move that could result in billions of euros of its troubled assets being put into a “bad bank”, chief executive John Hourican said.
