Analysis: Investors take aim at ‘male, pale and stale’ U.S. boards
NEW YORK/BOSTON (Reuters) – American boardrooms are looking grayer than ever. More retired executives are being offered directorships, mandatory retirement ages are rising, and directors are staying on longer.
Yellen signals new emphasis on Fed policing role
The next Federal Reserve chief appears set to direct the central bank’s might at ensuring financial stability and stern banking oversight with the same vigor it currently applies to its traditional mandates of fostering price stability and maximum empl…
Activist investors trim positions in Tim Hortons’ stock
TORONTO (Reuters) – U.S. hedge funds Scout Capital Management and Highfields Capital disclosed in regulatory filings that they have trimmed their stakes in Tim Hortons after shares in the Canadian coffee and doughnut chain posted big gains.
U.S. justices to hear Halliburton securities class action
(Reuters) – The U.S. Supreme Court, which in recent years has ruled for business in a string of high-profile cases, agreed on Friday to hear a case that could herald a dramatic decline in securities class action litigation.
Dow, S&P close at new highs; Exxon Mobil leads Dow
NEW YORK (Reuters) – The Dow and the S&P 500 hit new highs on Friday for a sixth straight week of gains, as investors continued to take cues from Federal Reserve Chair nominee Janet Yellen, who told a Senate Committee it was too early to end the central bank’s stimulus.
Senate inches toward Fannie, Freddie reform but deal elusive
WASHINGTON (Reuters) – The leaders of the Senate Banking Committee appear unlikely to meet their goal of producing a bill by year-end that would wind down major mortgage finance companies Fannie Mae and Freddie Mac, given the shrinking timeline and the…
Fed says Ally’s new capital plan may proceed
WASHINGTON/NEW YORK (Reuters) – Auto lender Ally Financial Inc moved a step closer to paying back the U.S. government on Friday after the Federal Reserve approved the company’s 2013 capital plan.
GE plans credit card unit spinoff to shrink finance arm
NORWALK, Connecticut (Reuters) – General Electric Co will spin off its credit card business next year into a separately traded company as it tries to reduce its exposure to unpredictable financial businesses and return to its manufacturing roots.
U.S. Justice Dept still looking into metals warehousing
WASHINGTON (Reuters) – The U.S. Justice Department is still “looking at” allegations that metals warehousing companies have inflated prices, a top official said on Friday, amid continued intense regulatory, political and legal scrutiny of the metals ma…
Hyundai to launch new Sonata, Genesis models in U.S. in 2014
SUPERIOR TOWNSHIP, Michigan (Reuters) – Hyundai Motor Co will launch new versions of its Sonata and Genesis sedans and a hydrogen-fueled Tucson crossover in the United States in the first half of 2014, the automaker’s top U.S. executive said on Friday….
