Insider trading case of SAC’s Steinberg reaches jury
NEW YORK (Reuters) – The fate of SAC Capital Advisors portfolio manager Michael Steinberg was in the hands of a jury on Tuesday, after more than four weeks of trial on charges he traded on inside information.
UAW wants to eliminate two-tier wage system: official
DETROIT (Reuters) – A top official with the United Auto Workers said the American labor union wants to eliminate the two-tier wage system that pays new automotive workers at a lower rate than veterans.
Nortel Networks resolves more than $3 billion in bankruptcy claims
(Reuters) – Nortel Networks Inc., a defunct telecoms company, has reached a deal that will cut more than $3 billion from what was allegedly owed to former Nortel entities in Europe, marking what it called a “significant milestone” to ending its five-ye…
Germany confirms Lautenschlaeger for ECB board seat
BERLIN (Reuters) – Germany wants Bundesbank Vice President Sabine Lautenschlaeger to fill the seat on the European Central Bank’s (ECB) executive board that is being vacated by Joerg Asmussen, a German government spokesman confirmed on Tuesday.
U.S. drops royalty hike plan for some drilling; taxpayers hit: study
WASHINGTON (Reuters) – U.S. taxpayers will forgo more than $1 billion in revenue in the next decade now that officials have dropped plans to increase royalty rates for drilling on federal land, a report released on Tuesday concluded.
No joke: Carnival, World Cup could hit Brazil growth in 2014
SAO PAULO/RIO DE JANEIRO (Reuters) – A tongue-in-cheek “Brazilian 2014 Calendar” making the rounds on Facebook jokes that, because of the soccer World Cup, an unusually late Carnival, other holidays and a presidential election, real work will only be p…
Most Telecom Italia investors sign up to vote on board’s future
MILAN (Reuters) – Investors with a combined 53.8 percent stake in Telecom Italia have registered so far for a key shareholder meeting on December 20 that will decide whether to oust the board, the company said on Tuesday.
Honeywell 2014 sales forecast falls short of estimates
(Reuters) – Honeywell International Inc , a maker of cockpit electronics and climate-control systems, forecast slightly lower 2014 sales than analysts had expected, citing a sluggish recovery in the global economy.
Shareholders in miner Bumi back split with Bakrie clan
LONDON (Reuters) – Shareholders in Indonesia-focused coal miner Bumi Plc have backed a planned split with the influential Bakrie family that co-founded the company, an important step towards a long-awaited overhaul of the group.
JP Morgan, Deutsche extend multi-dealer chatroom bans: sources
LONDON (Reuters) – JP Morgan Chase and Deutsche Bank are extending bans on the use of multi-dealer online chatrooms, sources familiar with the plans told Reuters, as banks crack down on potentially inappropriate communications following a string of sca…
