Exclusive: World Bank to cut $400 million from budget in reorganization
WASHINGTON (Reuters) – The World Bank plans to cut $400 million from its budget as part of a sweeping reorganization to make the global development lender more efficient and responsive, the bank’s chief financial officer said on Monday.
BP spars with U.S. government over size of Gulf of Mexico spill
NEW ORLEANS (Reuters) – Lawyers for BP Plc and the federal government sparred on Monday over the methods competing teams of scientists used to estimate the size of the company’s 2010 oil spill in the U.S. Gulf of Mexico.
SEC sees flaws in new Treasury asset manager report: sources
WASHINGTON (Reuters) – Federal securities regulators had warned of flaws in a U.S. Treasury draft report that could lead to costly regulations on large asset managers, people familiar with the matter told Reuters on Monday.
Greek budget sees end to six-year recession next year
ATHENS (Reuters) – Greece will emerge from six years of recession next year, a draft budget forecast on Monday, signalling the country is past the worst of a crippling debt crisis that nearly broke Europe’s single currency.
Defense shares end mixed after Pentagon recalls workers
WASHINGTON (Reuters) – Shares of Lockheed Martin Corp, the Pentagon’s biggest supplier, and some other defense companies rallied on Monday after Defense Secretary Chuck Hagel recalled most civilian defense employees despite the ongoing shutdown of the …
Many U.S. investment advisers fall short on record-keeping: study
SALT LAKE CITY, Utah (Reuters) – Many U.S. state-registered investment advisers are failing to follow basic industry record-keeping rules, according to a nationwide series of examinations by state regulators.
Exclusive: Mortgage and fleet company PHH explores sales – sources
NEW YORK (Reuters) – PHH Corp is exploring splitting up its mortgage and auto fleet leasing businesses, and selling each of the units, three people familiar with the situation told Reuters on Monday.
Honeywell projects big jump in automotive turbos by 2018
DETROIT (Reuters) – The use of turbo chargers to boost power in smaller automotive engines is expected to increase rapidly over the next five years, with the greatest growth anticipated in China, according to Honeywell International Inc , a major playe…
Former World Bank president rejoins Goldman Sachs
(Reuters) – Goldman Sachs Group Inc said on Monday that former World Bank Group president Robert Zoellick will rejoin the investment bank as chairman of its international advisory board.
U.S. justices divided in Allen Stanford Ponzi scheme case
WASHINGTON (Reuters) – On the first day of its new term on Monday, the U.S. Supreme Court appeared divided over whether lawyers, insurance brokers and others who worked with convicted swindler Allen Stanford could avoid lawsuits by investors seeking to…
