U.S. judge blocks New York credit card surcharge law
NEW YORK (Reuters) – A federal judge on Thursday blocked enforcement of a New York state law that subjects retailers to criminal penalties if they impose surcharges on customers who choose to pay by credit card rather than cash.
Telecom Italia’s chief quits after strategy clash
MILAN (Reuters) – Telecom Italia’s executive chairman Franco Bernabe resigned on Thursday after losing the support of core shareholders, clearing the way for possible asset sales at the debt-laden former monopoly phone company.
Barclays set for $500 million placing to cap share issue
LONDON (Reuters) – Barclays is expected to sell at least 300 million pounds ($487 million) of its shares in the market on Friday, as the British bank finds a home for shares not taken by existing investors in a 6 billion pound fundraising.
Morgan Stanley hires 34-year Merrill veteran, Bridgeman
NEW YORK (Reuters) – Garry Bridgeman, a Merrill Lynch broker for more than 34 years, has joined Morgan Stanley’s Graystone Consulting unit in Atlanta.
U.S. administration: default ‘catastrophic’, can’t prioritize debt payments
WASHINGTON (Reuters) – The Obama administration said the U.S. economy could fall into its deepest crisis since the Great Depression if Congress does not raise a cap on government borrowing soon and warned it would be impossible to prioritize debt payme…
U.S. jobless claims show job market healing but service sector slows
WASHINGTON (Reuters) – The number of Americans filing new claims for jobless benefits remained at pre-recession levels last week but growth in the massive U.S. service sector cooled in September as firms took on fewer new workers.
Goldman Sachs funds invest in DONG Energy, seek IPO
COPENHAGEN (Reuters) – Two funds managed by Goldman Sachs and two Danish pension funds will between them buy 26 percent in Danish state-owned oil and gas group DONG Energy for 11 billion Danish crowns ($2.00 billion) and plan an IPO for the firm, the c…
Service sector growth slows in September: ISM
NEW YORK (Reuters) – Growth in the services sector cooled last month after approaching an eight-year high in August as the pace of new orders dipped and hiring slowed, according to an industry report released on Thursday.
U.S. regulators release biggest banks’ second set of ‘living wills’
WASHINGTON (Reuters) – U.S. bank regulators on Thursday released portions of the biggest banks’ updated “living wills,” or blueprints for how they could be wound down in a crisis.
Telecom Italia chairman to resign at board meeting
MILAN (Reuters) – Telecom Italia’s executive chairman Franco Bernabe will hand in his resignation at the start of the company’s board meeting on Thursday, a source with knowledge of the situation said.
