Activist investor Loeb calls on Sotheby’s CEO to quit
(Reuters) – Activist investor Daniel Loeb’s Third Point LLC has raised its stake in Sotheby’s and called for the resignation of the auctioneer’s chief executive and chairman on concerns about the company’s leadership and strategic direction.
U.S. private sector jobs tepid, mortgage applications near flat
NEW YORK (Reuters) – U.S. private employers added fewer jobs than expected in September and mortgage applications remained near flat in the latest week, underscoring expectations that growth in the world’s biggest economy will stay steady but sluggish….
Analysis: ‘Slow frequency’ technology faces tough shift from FX to stock markets
LONDON (Reuters) – Efforts to curb the advantage of high frequency traders – who use computers churning out numerous transactions at lightning speed – face resistance on stock markets, although technology is already starting to level the playing field …
Nasdaq routs orders away from CBOE after brief glitch
NEW YORK (Reuters) – Nasdaq OMX Group Inc said on Wednesday that several of its operated exchanges briefly declared “self-help” against the Chicago Board Options Exchange.
Apple iPad Mini with sharper display faces delay
TAIPEI/TOKYO (Reuters) – Apple Inc will be unable to widely roll out a new version of the iPad Mini with a high-resolution “retina” display this month, people who work in the company’s supply chain said, leaving the gadget without the sharper screen fo…
Central European profit plunge hits Tesco’s recovery drive
LONDON (Reuters) – Plunging profits in mainland Europe blew a new hole in Tesco’s recovery plan on Wednesday, piling pressure on the world’s No.3 retailer as it struggles to reverse market share losses in its main UK market and extricate itself from ot…
Global investment banking fees up 3 percent in first nine months
LONDON (Reuters) – Fees earned for global investment banking services rose 3 percent in the first nine months of 2013 from a year ago, according to Thomson Reuters data.
U.S. mortgage applications dip slightly though rates fall: MBA
(Reuters) – Applications for U.S. home loans dipped slightly in the latest week, as a drop in demand for purchase loans outweighed an increase in refinancing demand, data from an industry group showed on Wednesday.
Exclusive – UAE bourses hire advisors as merger gathers steam: sources
ABU DHABI/DUBAI (Reuters) – Abu Dhabi and Dubai have hired banks to advise on a possible merger of their two main stock exchanges, a state-backed deal that could energize financial markets in the United Arab Emirates, sources familiar with the plan sai…
EU approves 20.5 million euro French aid for Renault hybrid fuel project
BRUSSELS (Reuters) – European Union state aid regulators approved on Wednesday 20.5 million euros ($27.73 million) in French support for carmaker Renault to develop a diesel hybrid technology which will cut diesel use and carbon dioxide emissions for v…
