JPMorgan may cut back on some types of business clients: WSJ
(Reuters) – JPMorgan Chase & Co is looking to cut back on lending to businesses it sees as posing risks to its reputation amid a period of heightened regulatory scrutiny, the Wall Street Journal reported, citing people close to the situation.
Wanted: impartial jurors for trial of Madoff employees
NEW YORK (Reuters) – A federal judge wrestled on Tuesday to pick impartial jurors in the trial of five former employees of Bernard Madoff who are accused of helping him conduct his multibillion-dollar fraud.
Obama to name Yellen as next Fed chair on Wednesday: White House
WASHINGTON (Reuters) – President Barack Obama will nominate Federal Reserve Vice Chairwoman Janet Yellen to be the next head of the U.S. central bank on Wednesday, a White House official said on Tuesday.
KFC parent Yum warns of delay in China sales recovery
(Reuters) – KFC parent Yum Brands Inc on Tuesday warned that it will take longer than expected for its China restaurant sales to rebound, delaying a recovery in the market that accounts for more than half of the company’s overall operating profit.
Alcoa tops earnings outlook despite weak aluminum prices
(Reuters) – Aluminum producer Alcoa Inc reported better than expected earnings on Tuesday, as strength at the unit that sells auto parts and other complex items helped offset lower metal prices.
Stock futures up, Obama to name Yellen as Fed chair
TOKYO (Reuters) – U.S. S&P 500 E-mini futures rose 0.3 percent in early Asian trade on Wednesday after a White House official said U.S. President Barack Obama will nominate Federal Reserve Vice Chairwoman Janet Yellen to be the next head of the U.S. central Bank.
H&R Block shares tumble on plans to terminate bank unit sale
(Reuters) – U.S. tax preparer H&R Block Inc is planning to terminate the sale of its banking assets to a unit of Republic Bancorp Inc , sending shares down 6 percent in extended trading.
Airbus versus Boeing Japan battle switches to ANA
SINGAPORE/TOULOUSE (Reuters) – Stung by the loss of a multi-billion dollar jet order from Japan Airlines to arch-rival Airbus , Boeing Co will mount an all-out defense of its position with Japan’s other major airline, ANA, a source close to the U.S. pl…
Buffett’s Berkshire discloses 2.8 percent stake in Goldman Sachs
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc disclosed a 2.8 percent passive stake in Goldman Sachs Group Inc as it converted warrants acquired during the financial crisis.
Chrysler to expand engine plant in Mexico: sources
DETROIT (Reuters) – Chrysler Group LLC will expand its plant in Mexico to build more of the “Tigershark” engines that will go into many of its passenger cars, sources with knowledge of the issue said on Tuesday.
