Danny Ludeman to retire as head of Wells Fargo Advisors
NEW YORK (Reuters) – Danny Ludeman, who has led Wells Fargo Advisors and a predecessor brokerage firm for almost 15 years, will retire as of January 1, 2014, the Wells Fargo & Co. brokerage unit said Friday.
Greece plans capital boost of over 1 billion euros for Eurobank: source
ATHENS (Reuters) – Greece’s plan to return Eurobank to private ownership will see the country’s fourth largest bank issue more than 1 billion euros ($1.35 billion)of new stock to private investors, boosting its capital ratio, a source familiar with the…
Penney to raise up to $932 million in share sale, lowers cash forecast
(Reuters) – J.C. Penney Co Inc on Friday cut its forecast of year-end cash reserves as it expects to raise up to $932 million in a share sale, suggesting that the retailer is burning through cash faster than expected.
BlackBerry confirms deep loss and revenue drop
TORONTO (Reuters) – BlackBerry Ltd reported a quarterly loss of nearly $1 billion on Friday, in line with a warning it gave last week, just days after the smartphone maker accepted its largest shareholder’s tentative $4.7 billion bid to take it private…
U.S. consumer spending rises as wages boost family income
WASHINGTON (Reuters) – U.S. household spending rose in August as incomes were buoyed by solid wage gains, signs that momentum could be growing in the economy despite months of harsh government austerity.
CME delays start of London exchange for second time
GENEVA (Reuters) – CME Group Inc , the No. 1 U.S. futures market operator, is again postponing the start of operations in London – its first exchange abroad – due to a technical problem, it said on Friday.
CEO Mulally ‘focused’ on setting Ford’s long-term vision: executive
DETROIT (Reuters) – Ford Motor Co Chief Executive Alan Mulally, a turnaround expert who is being mentioned as a candidate for Microsoft Corp’s top job, remains “absolutely focused” on crafting the No. 2 U.S. automaker’s long-term strategy, a top execut…
Special Report: Pimco shook hands with the Fed – and made a killing
NEW YORK (Reuters) – Through the second half of 2011, debate raged in financial markets over whether the U.S. Federal Reserve would embark on a third round of massive bond purchases, known as “quantitative easing,” to shore up an anemic economy. Pacifi…
Strike hits Amplats South African mines
JOHANNESBURG (Reuters) – Fewer than one in five workers turned up for work at Anglo American Platinum’s (Amplats) South African platinum mines around the city of Rustenburg, it said on Friday, in protest against planned job cuts.
I’m buying more Barclays shares, says ousted boss Diamond
LONDON (Reuters) – Bob Diamond, who was ousted last year as the boss of British bank Barclays Plc , said it has grown stronger since he left and he plans to buy shares in its 6 billion-pound ($9.6 billion) rights issue.
