Balance sheet lets Fed be patient on when to reduce QE: Rosengren
BOSTON (Reuters) – The Federal Reserve can afford to be patient in deciding when to begin scaling back its bond purchases because there will be little difference to the size of the Fed’s balance sheet whether the U.S. central bank starts to taper in De…
Co-op hedge fund shareholder famous for Argentina battle
LONDON (Reuters) – U.S. hedge fund Aurelius Capital Management, which will take a stake in Co-op Bank under a rescue plan for the British mutual lender, is also protagonist in a lengthy and bitter court battle over Argentina’s debt default.
Johnson & Johnson to pay $2.2 billion to end U.S. drug probes
WASHINGTON (Reuters) – In one of the largest health care fraud settlements in U.S. history, Johnson & Johnson will pay $2.2 billion to end civil and criminal investigations into kickbacks to pharmacists and the marketing of pharmaceuticals for off-label uses, U.S. Attorney General Eric Holder said on Monday.
Pimco Total Return loses title as world’s largest mutual fund
NEW YORK (Reuters) – Bill Gross’s Pimco Total Return Fund had outflows of $4.4 billion in October, stripping it of its status as the world’s largest mutual fund on lagging performance this year, data from Morningstar showed Monday.
Kellogg to cut 7 percent of workforce by 2017, lowers forecast
(Reuters) – Kellogg Co , the world’s largest maker of breakfast cereals, said it would cut about 7 percent of its workforce by 2017 and also trim production capacity, after reporting another quarterly decline in sales in its cereals business.
Boeing seen in advanced talks to make 777X near Seattle
(Reuters) – Boeing is in advanced talks with its machinists’ union to assemble the company’s new 777X jet and build its wings in the Seattle area, several people familiar with the negotiations told Reuters.
SAC to plead guilty in insider trading case: prosecutors
NEW YORK (Reuters) – Steven A. Cohen’s embattled hedge fund SAC Capital Advisors will plead guilty in federal court and pay $1.8 billion to settle charges stemming from an insider trading investigation that lasted more than five years, prosecutors said…
Suntrust to add corporate banking sites in three major U.S. cities
(Reuters) – SunTrust Banks Inc said on Monday that it is adding corporate lending offices in Dallas, San Francisco, and Chicago as part of its strategy to turn that business into a nationally focused operation instead of a regional one.
Italy eyes ‘Google Tax’ to help fix public finances
ROME (Reuters) – Italy’s largest ruling party has proposed legislation to raise government revenues by making it more expensive for multinational online companies like Google, Amazon and Yahoo to do business there.
Tri Pointe Homes set to hit big time with Weyerhaeuser deal
(Reuters) – Tri Pointe Homes Inc is buying Weyerhaeuser Co’s homebuilding division in a $2.7 billion deal that will give it access to developed land in key markets such as California and Texas and make it one of the 10 biggest U.S. homebuilders.
