Banks must accept risk weights need fixing – Basel’s Ingves
LONDON (Reuters) – Changes to how banks add up risks on their books to determine capital levels are inevitable and lenders must acknowledge there is a problem to be fixed, a global banking supervisor said on Tuesday.
Adidas extends CEO contract as starts succession plan
HERZOGENAURACH, Germany (Reuters) – Adidas has extended the contract of long-serving Chief Executive Herbert Hainer until 2017 but will work with him on a succession plan to ready the world’s second-biggest sportswear company for “generation change”.
Six banks team up in plan for shared customer data register
LONDON (Reuters) – JPMorgan , Citigroup and four more major banks have signed up with an industry group to develop a central register of information on other banks they deal with to help to meet increasing compliance demands and costs.
Exclusive: Itaú-CorpBanca deal draws fire from U.S. activist investor
SAO PAULO/NEW YORK (Reuters) – A United States activist investor is asking CorpBanca SA’s board to scrap its recent tie-up with Brazil’s Itaú Unibanco Holding SA and launch a new auction, alleging the Chilean bank sold its minority investors short while benefiting its controlling shareholder, according to documents seen by Reuters.
India hardens stance against U.S. protectionism ahead of visits
NEW DELHI (Reuters) – India’s trade minister on Tuesday accused the United States of excessive trade protectionism, launching a broadside that coincided with the visit of a top U.S. official to patch up a stormy bilateral friendship.
Bernanke says Fed could have done more during crisis
ABU DHABI (Reuters) – Former Federal Reserve Chairman Ben Bernanke said the U.S. central bank could have done more to fight the country’s financial crisis and that he struggled to find the right way to communicate with markets.
Qualcomm raises share repurchase program by $5 billion
(Reuters) – Qualcomm Inc , the world’s biggest cellphone chip maker, raised its share repurchase authorization by $5 billion to $7.8 billion.
Wilbur Ross and Fairfax to sell 6 pct of Bank of Ireland
DUBLIN (Reuters) – Two of Bank of Ireland’s largest shareholders, Wilbur Ross and Fairfax Financial , began selling a combined 6.4 percent stake in the country’s largest lender on Tuesday, the placing’s bookrunner Deutsche Bank said.
World shares, Russian assets bounce back after heavy Ukraine hit
LONDON (Reuters) – World shares and hard-hit Russian assets rebounded on Tuesday after Russia’s president ordered troops in military exercises to return to base in what was seen as a dampening down of immediate tensions in the East-West crisis over Ukr…
Buffett fails to dispel investor angst over succession plan
(Reuters) – Warren Buffett is seeking to reassure shareholders about how his Berkshire Hathaway Inc will perform in the decades after he steps down or dies, but remains as vague as ever about succession plans.
