Deutsche Bank fails to end four U.S. lawsuits over soured mortgages
NEW YORK (Reuters) – Deutsche Bank AG has failed to win the dismissal of four U.S. lawsuits seeking to force it to pay damages or buy back troubled home loans it had packaged into residential mortgage-backed securities prior to the 2008 financial crisi…
Discovery chairman Hendricks to retire from board
(Reuters) – John Hendricks, the founder of Discovery Communications Inc, will retire as the media company’s chairman and from its board in May, Discovery announced on Thursday.
Nike warns FX fluctuations to slam profit, expects weak China sales
(Reuters) – Nike Inc on Thursday warned Wall Street that growing pressures from weaker currencies in key emerging markets would take a big toll on its profit in the current quarter and into the next fiscal year.
All big U.S. banks but one pass Fed’s health test
WASHINGTON (Reuters) – U.S. big banks have enough capital buffers to withstand a drastic economic downturn, the Federal Reserve said on Thursday, announcing that 29 out of 30 major banks met the minimum hurdle in its annual health check.
Wall Street rebounds after data; financials climb
NEW YORK (Reuters) – U.S. stocks rose on Thursday, after a batch of economic data pointed to an improving economy and investors reassessed Fed Chair Janet Yellen’s comments that had fueled speculation of an earlier-than-expected rate hike by the centra…
Some big U.S. companies dodge state income taxes: study
WASHINGTON (Reuters) – Some profitable U.S. corporations that avoid paying federal income taxes manage to do the same in states where they operate, said a study issued on Thursday by a tax activist group.
Wyly brothers’ ex-lawyer settles SEC fraud case, admits errors
NEW YORK (Reuters) – A former lawyer for the wealthy Texas investors Samuel and Charles Wyly agreed to pay nearly $795,000 and admit to wrongdoing to resolve regulatory charges that he assisted the brothers in a multi-year $550 million fraud, according…
Pimco replaced by TCW Group as subadvisor of $1.3 billion fund
NEW YORK (Reuters) – Pacific Investment Management Co. has been replaced by TCW Group Inc. as the subadvisor of a $1.3 billion bond fund offered by Columbia Management Investment Advisers LLC.
With cars, drivers, Google revs up home delivery
SAN FRANCISCO (Reuters) – When Google started testing a free same-day shopping delivery service in San Francisco last year, industry observers were surprised by the company’s foray into a notoriously tricky and decidedly low-margin real-world business….
Largest-ever U.S. tax-fraud phone scam targets thousands: IRS watchdog
WASHINGTON (Reuters) – Thousands of Americans nationwide have been targeted since August by a phone scam in which fraudsters claim to be from the U.S. Internal Revenue Service and demand money for unpaid taxes, said the IRS’ watchdog on Thursday.
