U.S. Treasury to reduce stake in auto lender Ally
WASHINGTON (Reuters) – The U.S. Treasury Department on Thursday announced plans to sell 410,000 shares in auto lender Ally Financial as part of its effort to unwind its financial bailout fund.
Goldman Sachs fourth-quarter profit hit by lower bond trading revenue
(Reuters) – Goldman Sachs Group Inc reported a 21 percent drop in quarterly profit on Thursday as revenue from fixed-income trading fell in what Chief Executive Lloyd C. Blankfein described as “a somewhat challenging environment.”
Best Buy shares tumble on weak holiday sales, margin forecast
NEW YORK (Reuters) – Best Buy Co shares tumbled about 30 percent on Thursday after the world’s largest consumer electronics chain reported disappointing holiday sales and warned of a bigger-than-expected decline in quarterly operating margins.
Carlos Slim consolidates stakes in Telekom Austria
VIENNA (Reuters) – Billionaire investor Carlos Slim’s America Movil has agreed to raise its stake in Telekom Austria to a blocking minority that does not trigger a mandatory takeover offer.
World economy on recovery road, but weak inflation threatens: Reuters poll
LONDON (Reuters) – A much better year lies in store for most of the world’s major developed economies, although weak inflation will persist, complicating central banks’ ability to get interest rates back to normal, Reuters polls forecast on Thursday.
Exclusive: SEC may seek more power to enforce Volcker rule
WASHINGTON (Reuters) – U.S. securities regulators fear they do not have the full range of enforcement powers to police Wall Street’s compliance with the controversial Volcker rule, and told Reuters they are considering new rules to fill the gap.
Citi profit disappoints as bond trading revenue drops
(Reuters) – Citigroup Inc posted weaker-than-expected quarterly results on Thursday, as lackluster bond-trading results weighed on overall revenue.
Bombardier CSeries jet delayed by at least nine months
TORONTO (Reuters) – Bombardier Inc warned on Thursday it will delay putting its new CSeries jet into commercial use until the last half of 2015, a major setback in its plan to challenge Airbus Group NV and Boeing Co in the narrow body aircraft market.
Exclusive: Dubai Group signs $10 billion debt restructuring deal – sources
DUBAI (Reuters) – Dubai Group has signed a $10 billion debt restructuring deal, two sources with knowledge of the matter told Reuters, marking the end of a perilous period which saw the emirate risk collapse under a mountain of debt obligations.
Exclusive: Tyson weighs $2 billion-plus deal for Michael Foods – sources
NEW YORK (Reuters) – Tyson Foods Inc is exploring a bid for Michael Foods Group Inc, a deal that would combine one of the world’s largest chicken processors with a large distributor of egg and dairy products, according to three people familiar with the…
