Goldman Sachs adds five executives to management committee: memos
NEW YORK (Reuters) – Goldman Sachs Group Inc said in staff memos on Tuesday that it has added five executives to its management committee, the latest in a series of promotions and departures near the top of the Wall Street bank over the past few years….
India seeks to cancel $2 billion Vodafone tax dispute resolution talks: memo
NEW DELHI (Reuters) – India plans to withdraw from talks with Vodafone Group Plc to resolve a nearly $2 billion tax dispute after the British operator pushed for the inclusion of a separate tax case in the talks, according to an internal government not…
Corzine fails to win dismissal of MF Global customers’ lawsuit
NEW YORK (Reuters) – A federal judge on Tuesday allowed a lawsuit to move forward that seeks to hold former MF Global Holdings Ltd Chief Executive Officer Jon Corzine and other executives responsible for the brokerage’s collapse.
McDonald’s looking to heat up U.S. sales with breakfast, coffee
LOS ANGELES (Reuters) – Raymond Tremblay, a loyal McDonald’s Corp customer from Los Angeles, thinks the fast-food chain sells tasty food at reasonable prices and he cannot think of a quick fix that would help end the company’s disappointing U.S. perfor…
GM’s new chairman not afraid to make unpopular calls
DETROIT (Reuters) – General Motors Co’s new Chairman Theodore “Tim” Solso is not afraid to make edgy and sometimes unpopular decisions, a trait that could come in handy as the No. 1 U.S. automaker seeks to further reinvent itself under new Chief Execut…
Barclays to cut 12,000 jobs, pays bigger bonuses
LONDON (Reuters) – Barclays said it would axe up to 12,000 jobs this year even as it raised bonuses for investment bankers, prompting fury among politicians and unions who said it had not learned the lessons of the financial crisis.
Tough winter makes economic assessment hard: Fed’s Plosser
NEWARK, Delaware (Reuters) – Assessing the U.S. economy’s underlying economic trends has become more difficult because of record low temperatures and heavy snowfall across much of the nation, Federal Reserve Bank of Philadelphia President Charles Ploss…
Fed sets vote on tough standards for foreign, domestic banks
WASHINGTON (Reuters) – The Federal Reserve plans to vote next week on new standards for banks operating in the United States, including a proposal for foreign banks that has been heavily criticized by their home regulators.
Nestle cuts stake in L’Oreal, but staying for ‘long haul’
PARIS (Reuters) – Swiss food group Nestle is selling an 8 percent stake in L’Oreal to the French cosmetics firm for 6.5 billion euros ($9 billion), loosening their 40-year partnership and allowing both firms to boost earnings per share.
UniCredit CEO says in talks with Intesa over restructured loans
MILAN (Reuters) – Italy’s top two banks UniCredit and Intesa Sanpaolo are discussing plans to deal with their restructured loans, the head of UniCredit said on Tuesday, as the banking system strives to tackle its large stock of problem loans.
