Monte Paschi shares soar, fuelling speculation of stake sale
MILAN (Reuters) – Shares in Italy’s third biggest lender Monte dei Paschi di Siena soared 20 percent in heavy volume on Wednesday, prompting speculation the bank’s top investor may have found a buyer for part or all of its stake in the bank.
U.S. Supreme Court seeks middle ground in securities case
WASHINGTON (Reuters) – U.S. Supreme Court justices on Wednesday appeared to look for a compromise that would give publicly traded companies better defenses against securities class actions without overruling a 26-year-old precedent that made it easier …
With billions at stake, U.S. court weighs Madoff clawback claims
NEW YORK (Reuters) – Victims of Bernard Madoff’s epic fraud may be able to recoup only a small portion of the billions of dollars he allegedly funneled to selected customers in the last years of his Ponzi scheme.
Barclays pays nearly 500 bankers more than 1 million pounds
LONDON (Reuters) – Barclays paid almost 500 staff more than 1 million pounds ($1.67 million) last year, prompting criticism that pay is still too high and that banks have not changed their ways since the financial crisis.
Monte Paschi top investor to sue former executives, banks
SIENA, Italy (Reuters) – The top investor in Italian bank Monte dei Paschi di Siena has decided to sue former members of its own board and banks that helped arrange a 600 million euros loan in 2011, it said in a statement.
Exxon expects flat output in 2014, spending to drop 6 percent
NEW YORK (Reuters) – Exxon Mobil Corp , the world’s largest publicly traded energy company, on Wednesday said it expects oil and natural gas production to be flat this year as overall spending falls 6 percent to about $39.8 billion.
U.S. says businessman convicted in DuPont economic espionage case
SAN FRANCISCO (Reuters) – A U.S. jury on Wednesday convicted a California businessman accused of stealing DuPont trade secrets to help a state-owned Chinese company develop a white pigment used in a wide range of products, a U.S. government spokesman s…
Icahn says eBay corporate governance worst ever: CNBC
NEW YORK (Reuters) – Billionaire activist investor Carl Icahn said Wednesday that corporate governance at e-commerce giant eBay Inc., in which he is a shareholder, was the worst he had ever seen.
GM questioning employees in ignition-switch recall probe: sources
DETROIT (Reuters) – General Motors Co is moving to learn more internally about its handling of the recall of ignition switches linked to 13 deaths, including questioning employees involved in the process from the start, according to two people familiar…
Accessible luxury snaps at heels of mega brands
PARIS/LONDON (Reuters) – While Gucci and Louis Vuitton blame slumping sales on their upmarket drive they argue will help them regain some of their lost glory, there is growing evidence they are losing out to newer, more affordable luxury brands.
