Ex-Madoff aide pleads ignorance, naivete at U.S. fraud trial
NEW YORK (Reuters) – Ponzi scheme. Treasury bond. The Standard & Poor’s 500 index. The collapse of Lehman Brothers.
S&P 500 ends at record after Yellen’s weather talk
NEW YORK (Reuters) – The S&P 500 closed at a record on Thursday and ended in positive territory for the year after Federal Reserve Chair Janet Yellen said harsh weather seems to be to behind recent U.S. economic softness.
U.S. automakers extend discount wars through March
DETROIT (Reuters) – General Motors Co and Ford Motor Co this week ramped up deep discounts on many of their U.S. models, extending those offers through March in an effort to lure customers back into winter-ravaged showrooms.
KPMG International names John Veihmeyer new global chairman
NEW YORK (Reuters) – KPMG International , the world’s fourth-largest accounting and consulting network, said its U.S. firm’s chief executive, John Veihmeyer, will become the group’s next global chairman.
GDF ditches monopoly past, invests in growth markets
PARIS (Reuters) – GDF Suez , with its traditional European business under pressure, plans to focus investment on power production in fast-growing emerging economies and on Europe’s shift to renewables and energy efficiency.
Hedge fund manager Loeb launches proxy battle at Sotheby’s
(Reuters) – Billionaire hedge fund manager Daniel Loeb is mounting a proxy fight at Sotheby’s with the goal of winning three board seats after the auction house’s promise to return $450 million to shareholders failed to appease activist investors.
U.S. safety regulators probe GM recall linked to 13 deaths
DETROIT (Reuters) – U.S. safety regulators have opened an investigation into whether General Motors Co reacted fast enough in its recall of more than 1.6 million cars over an ignition-switch defect linked to 13 deaths in crashes.
Foreign exchange dents Gap profit forecast for new fiscal year
(Reuters) – Gap Inc on Thursday reported a higher-than-expected holiday quarter profit, helped by January sales gains, but the fashion company said it expected unfavorable currency exchange rates will hit its full-year profit.
Bright prospects? China’s rooftop solar goal looks too ambitious
(Reuters) – Beijing’s goal of tripling solar power from small-scale operations such as rooftop panels looks overly ambitious, risking disappointment for investors who have bid up shares in Chinese solar panel makers in the past year.
In nosedive, Qantas CEO Joyce may find path to safety
SYDNEY (Reuters) – Whether through error or circumstance, Qantas Airways Ltd’s spectacular fall from grace is giving chief executive Alan Joyce his best chance of steering the airline toward long-term salvation.
