Wells Fargo director resigns for health reasons
(Reuters) – Wells Fargo & Co said on Monday that board member Howard V. “Rick” Richardson had resigned, citing personal health-related reasons.
Bernanke starts new job at Brookings after weekend off
NEW YORK (Reuters) – Former Federal Reserve Chairman Ben Bernanke began his new job at the Brookings Institution on Monday, wasting no time getting back to work just three days after ending his tenure as head of the world’s most powerful central bank.
Wall Street suffers worst drop since June after weak data
NEW YORK (Reuters) – U.S. stocks slumped on Monday, with the S&P 500 suffering its worst drop since June, after weaker-than-expected data on the factory sector in the world’s largest economy provided investors with the latest reason to move away from riskier assets.
Ackman questions Herbalife recruiting tactics on new website
BOSTON (Reuters) – Billionaire investor William Ackman on Monday charged that Herbalife, a seller of nutrition and weight-loss products, found new distributors through a business that had been convicted in Canada of running an illegal pyramid scheme.
Analysis: Emerging markets outlook not rosy, but valuations tempt
NEW YORK (Reuters) – Emerging markets were facing headwinds going into 2014, but January’s rout surprised even the gloomiest of investors, with big declines in stocks, bonds, and currencies.
GM, Ford sales stall
DETROIT (Reuters) – Four of the top five U.S. auto sellers on Monday blamed extreme winter weather for poorer-than-expected sales in January, as analysts and executives predicted a rebound in February and March.
Bank of America hikes top European bankers’ pay to counter bonus cap
LONDON (Reuters) – Bank of America Merrill Lynch is raising salaries for some of its senior bankers by about 20 percent, a person familiar with the matter said on Monday, to get around a new European Union cap on pay.
Factory, construction spending data hint at slowing economy
NEW YORK (Reuters) – U.S. manufacturing activity slowed sharply in January on the back of the biggest drop in new orders in 33 years while construction spending barely rose in December, pointing to some loss of steam in the economy.
China, U.S. drag on global manufacturing revival
LONDON/NEW YORK (Reuters) – Slower growth in the Chinese and U.S. factory sectors raised worries about global growth on Monday, even though European manufacturers enjoyed a solid start to the year.
Exclusive: Nestle reviewing possible sale of frozen food unit Davigel -sources
LONDON (Reuters) – Nestle is exploring a possible sale of frozen foods business Davigel for about 300 million euros ($400 million), three sources familiar with the matter told Reuters on Monday, as part of a drive to trim its sprawling portfolio.
