U.S. rejects Fairholme’s proposal to recapitalize Fannie, Freddie
(Reuters) – The United States rejected Fairholme Capital Management’s recapitalization proposal of Fannie Mae and Freddie Mac, saying the only way to revamp the home loan market is through proper housing finance reform, according to Gene Sperling, a se…
House panel passes bill targeting ‘patent trolls’
WASHINGTON (Reuters) – A U.S. congressional panel on Wednesday approved a bill targeting patent “trolls,” companies that buy or license patents from others and then aggressively pursue licensing fees or file infringement lawsuits.
Exclusive: Mindich’s Eton Park cuts fees, creates more liquid share class
BOSTON (Reuters) – Eton Park, one of the year’s best-performing hedge funds, plans to lower management fees and create a more liquid share class, in a rare change at a fund so popular at its launch that it was able to impose some of the toughest invest…
Honda unveils nameless car, says fuel cell drive to take time
LOS ANGELES (Reuters) – Honda Motor Co Ltd has high hopes for its hydrogen fuel cell vehicle and its advanced technology to reduce tailpipe emissions, although the Japanese carmaker concedes consumers may take a few years to warm to the concept.
China factory growth slows in November, weakens quarterly outlook
BEIJING (Reuters) – Activity in China’s vast factory sector grew at a milder pace in November as new export orders shrank, a preliminary survey showed on Thursday, bolstering expectations the economy could lose some of its vigor in the fourth quarter a…
Toyota sees U.S. industry growth slowing by half in 2014
LOS ANGELES (Reuters) – The United States automotive industry will move into the slow lane in 2014 as fewer buyers replace aging vehicles and growth drops to half this year’s rate, the head of Toyota Motor Corp’s North American operations said on Wedne…
U.S. hedge fund advisor pleads guilty to child porn charges
NEW YORK (Reuters) – Prominent hedge fund advisor Ezra Zask pleaded guilty to possession of child pornography in a New York court on Wednesday, avoiding jail time for the charges.
Ford betting iconic Mustang will lure overseas buyers
LOS ANGELES (Reuters) – Ford Motor Co is preparing to launch its Mustang coupe overseas for the first time, betting that the romance of the iconic American car will draw more consumers to its showrooms outside the United States.
Goldman Sachs burned by bad currency bets in third quarter
NEW YORK (Reuters) – Goldman Sachs Group Inc lost more than $1 billion on currency trades during the third quarter, recent regulatory filings show, offering some insight into why the firm, considered one of Wall Street’s most savvy traders, reported it…
Banco do Brasil looks to Asia for $1 billion loan, sources say
NEW YORK (Reuters) – State-controlled Banco do Brasil SA , Latin America’s largest bank by assets, is in talks with a pool of lenders to raise at least $1 billion in a syndicated loan transaction, two sources with knowledge of the deal said on Wednesda…
