Big investors stay with Fannie, Freddie despite lawmakers’ plans
BOSTON (Reuters) – A Senate proposal for winding down Fannie Mae and Freddie Mac slammed their shares over the last two days, but big investors in the government-owned mortgage agencies aren’t running away yet.
Wall Street little changed as Ukraine, China concerns brushed off
NEW YORK (Reuters) – U.S. stocks finished little changed on Wednesday, with the Nasdaq up for the first session in five, as investors grappled with the evolving situation in Ukraine but shrugged off concern over weakness in China’s economy.
U.S. consumer bureau probing firms that link borrowers, payday lenders
WASHINGTON (Reuters) – The U.S. consumer watchdog is investigating companies that link cash-strapped wage earners to payday lenders, according to a document on the Consumer Financial Protection Bureau’s (CFPB) website.
Wall Street to shift more staff out of pricey cities: consultant
NEW YORK (Reuters) – Over the next decade, Wall Street banks will cut in half the proportion of support staff they have in pricey cities like New York and London and shift those workers to less expensive cities in the developing world, according to a p…
Comcast lobbyist Cohen meets his match in FCC’s Wheeler
WASHINGTON/NEW YORK (Reuters) – Comcast Corp’s top lobbyist David Cohen is known to be a savvy political operator, having pushed through the No. 1 U.S. cable operator’s landmark acquisition of media giant NBC Universal in 2011.
U.S. fourth quarter GDP growth may be revised higher: economists
WASHINGTON (Reuters) – U.S. fourth-quarter growth is likely to be revised higher after services industry data on Wednesday suggested a much stronger pace of consumer spending than the government had previously assumed, according to economists.
Fed vice chair nominee Fischer stresses financial stability
SAN FRANCISCO/ NEW YORK (Reuters) – Stanley Fischer, U.S. President Barack Obama’s pick for the No. 2 spot at the Federal Reserve, dove in Wednesday to one of the most important debates at the U.S. central bank, as he called for making financial stabil…
Nigerian president orders state energy firm audit after graft allegation
ABUJA (Reuters) – Nigeria’s president has authorized a forensic audit of the national energy company, the presidency said on Wednesday, after weeks of public uproar over an alleged $20 billion in missing state revenues.
Ecobank ‘grew too fast’, says top shareholder
JOHANNESBURG (Reuters) – Pan-African lender Ecobank grew too fast in a short space of time, its biggest shareholder said on Wednesday, potentially signaling a slowdown in the rapid expansion that has taken the financial institution to 35 countries.
Big fine imposed on ex-Goldman trader Tourre in SEC case
NEW YORK (Reuters) – A U.S. judge on Wednesday ordered former Goldman Sachs Group Inc trader Fabrice Tourre to pay more than $825,000 after a jury found him liable for defrauding investors in a subprime mortgage product that failed during the financial…
