Exclusive: JPMorgan plans to keep pay roughly flat from last year – sources
(Reuters) – JPMorgan Chase & Co plans to keep overall compensation roughly flat this year from last year, in a sign that employees will feel at least some pain from the bank’s recent legal settlements, according to two sources familiar with the matter.
CSX says crude-by-rail business poised for growth
NEWTON, Massachusetts (Reuters) – CSX Corp said on Thursday its crude-by-rail business has the capacity to growth seven-fold over the next couple of years, as U.S. Northeast refiners take up growing supply from North Dakota’s Bakken oil reservoir.
Yellen takes big step toward becoming next Fed chair
WASHINGTON (Reuters) – Federal Reserve Vice Chair Janet Yellen moved closer on Thursday to becoming the first woman to lead the U.S. central bank after a Senate committee backed her nomination and the chamber changed its rules to make it easier for nom…
Magellan CEO sees lots of demand for U.S. Gulf Coast condensate splitters
HOUSTON (Reuters) – The U.S. Gulf Coast may need six to eight facilities to process condensate – a very light form of crude oil – and export it to handle a glut of output from the Eagle Ford field in Texas, Magellan Midstream Partners LP Chief Executiv…
U.S. takes action in two auto parts price-fixing cases
WASHINGTON (Reuters) – Three executives of Japan’s Takata Corp will plead guilty to conspiring to fix the price of seatbelts sold to automakers in the United States and will go to jail for 14 to 19 months, the Justice Department said on Thursday.
Honeywell CEO urges sharply lower U.S. corporate tax rate
NEW YORK (Reuters) – The U.S. corporate tax rate should be lowered to encourage competitiveness with rivals around the globe, the chief executive of conglomerate Honeywell said on Thursday, days after a U.S. senator proposed sweeping changes to the tax…
Honeywell CEO urges sharply lower U.S. corporate tax rate
NEW YORK (Reuters) – The U.S. corporate tax rate should be lowered to encourage competitiveness with rivals around the globe, the chief executive of conglomerate Honeywell said on Thursday, days after a U.S. senator proposed sweeping changes to the tax…
Ex-Merrill broker suspended, fined for anti-money laundering violations
(Reuters) – A former Merrill Lynch broker who managed as much as $1 billion has been suspended and fined by Wall Street’s watchdog, in part for violating anti-money laundering rules by not telling the firm about potentially suspicious funds transfers i…
Dismissal of Woori lawsuit against Merrill upheld by U.S. court
NEW YORK (Reuters) – A U.S. appeals court on Thursday upheld the dismissal of a lawsuit brought by South Korea’s Woori Bank against Bank of America Corp’s Merrill Lynch unit over losses from $143 million in mortgage-related investments.
U.S. plans to exit GM stake by year-end, may lose $10 billion
DETROIT (Reuters) – The U.S. Treasury Department said it expected to sell its remaining shares of General Motors Co by the end of the year, a plan that may leave taxpayers with a shortfall of about $10 billion on the automaker’s 2009 bailout.
