Hedge fund Hayman Capital takes stake in GM: report
DETROIT (Reuters) – Hedge fund Hayman Capital has taken a stake in General Motors Co and believes the U.S. automaker’s stock could rise more than 40 percent over the next 12-18 months after the U.S. Treasury sells its stake in the company, Bloomberg re…
EU executive document says transaction tax plan legal
LONDON (Reuters) – The proposed tax on financial transactions in 11 European Union countries complies with EU and international laws, the bloc’s executive said, hoping to revive the flagging project.
Morgan Stanley amps up lending to boost wealth margins
NEW YORK (Reuters) – Just a few years ago, Morgan Stanley lacked the expertise, infrastructure or desire to do a lot of lending, but today it is making a big push into loans to bridge a profit gap with rivals.
Top U.S. banks faulted on correcting foreclosure abuses
WASHINGTON (Reuters) – Top U.S. banks, including Bank of America Corp and Citigroup Inc , failed to fully comply with a government settlement to correct mortgage servicing abuses, a monitor of the settlement said on Wednesday.
EU Commission fines banks $2.3 billion for benchmark rigging
BRUSSELS (Reuters) – EU antitrust regulators vowed to keep investigating rate- rigging on Wednesday as they slapped a record 1.7 billion euro ($2.3 billion) penalty on six financial institutions including Deutsche Bank, RBS and JPMorgan.
Deere expands share buyback plan by $8 billion
(Reuters) – Deere & Co , the world’s largest farm equipment maker, said it was expanding its share buyback plan by $8 billion.
Recovery on track but slows in November, U.S. data shine
NEW YORK/LONDON (Reuters) – Service sector activity expanded around the world in November, albeit at a slower rate, while strong U.S. data housing and jobs figures brightened the outlook for growth, data showed on Wednesday.
Diners say not biting on KFC’s China revival campaign
NEW YORK/SHANGHAI (Reuters) – Yum Brands Inc’s KFC website in China trumpets the slogan “Trust in every bite.”
Analysis: Euro zone likely to backstop banks with promises rather than cash
BRUSSELS (Reuters) – Euro zone governments have set aside almost no money to make good on their promise to recapitalize ailing banks after a health check next year.
India, Japan eye joint tenders for cheaper LNG
NEW DELHI (Reuters) – India and Japan are stepping up the pressure for cheaper liquefied natural gas (LNG) with potential joint tenders as two of the world’s biggest gas buyers try to ease the pain of high prices and rising demand.
