Pimco’s Gross tries again to soothe clients
(Reuters) – Pimco’s Bill Gross, manager of the world’s largest bond fund, on Tuesday sought to reassure the firm’s clients about the new leadership structure he has put in place since his heir apparent stunned the investment community last month by ann…
In reversal, ex-Madoff aide takes stand in his own defense
NEW YORK (Reuters) – In an unusual move, Bernard Madoff’s former back-office director took the witness stand in his own defense on Tuesday, telling a federal jury that he had no idea his boss was operating a Ponzi scheme until the day Madoff was arrest…
Jos. A. Bank’s offer for Eddie Bauer defies logic: shareholder
(Reuters) – Jos. A. Bank Clothiers Inc’s planned acquisition of outdoor sportswear retailer Eddie Bauer defies logic given that the companies cater to different customers, according to one of the men’s apparel retailer’s shareholders.
Halliburton to let board nominees accept outside cash
(Reuters) – Oilfield services provider Halliburton Co has revised its bylaws to allow proposed new board members to receive compensation from outside groups simply for being nominated.
Coke revenue misses estimates as soda sales slow
(Reuters) – Coca-Cola Co’s quarterly global sales volumes rose less than the company estimated and fell in North America, but the company said it expects to restore sales momentum in 2014.
More weak U.S. economic data puts cracks in weather theory
WASHINGTON (Reuters) – U.S. homebuilder confidence suffered its largest one-month drop ever in February, heightening concerns that recent signs of weakness in the economy reflect deeper problems than the severe weather that has gripped much of the coun…
Court clears sale of hybrid car maker Fisker to China’s Wanxiang
WILMINGTON, Del (Reuters) – A unit of China’s Wanxiang Group received U.S. bankruptcy court approval on Tuesday to buy the assets of Fisker Automotive, a defunct manufacturer of plug-in hybrid sports cars that was funded in part with a U.S. government …
U.S. consumer debt rises in fourth quarter by most since 2007
NEW YORK (Reuters) – U.S. household debt rose in the latest quarter by the most since before the recession, a sign that Americans may be nearing the end of a multi-year belt-tightening trend, data from the Federal Reserve Bank of New York showed on Tue…
Investors shun emerging markets, especially South Africa: BofA poll
LONDON (Reuters) – Investors grew even more pessimistic about the developing world in February, with a majority saying the biggest threat to the stability of global financial markets was turmoil in emerging markets, a survey showed on Tuesday.
U.S. food companies find going ‘non-GMO’ no easy feat
(Reuters) – U.S. food companies are rushing to offer consumers thousands of products free of genetically modified ingredients but are finding the effort costly and cumbersome in a landscape dominated by the controversial biotech crops.
