Fed’s George: size of initial taper may not matter much
WASHINGTON (Reuters) – The scale of the first reduction in asset purchases by the Federal Reserve is not as important as the clarity with which it communicates about where its policies are heading, a top U.S. central banker said on Thursday.
Fed’s George: delay in bond tapering could hurt Fed credibility
WASHINGTON (Reuters) – The failure of the Federal Reserve to begin scaling back bond buying at its meeting last week surprised financial markets and could undermine the effectiveness of its policies in the future, a top U.S. central banker said on Thur…
How Jack Ma can keep a tight grip on Alibaba after an IPO
NEW YORK/SAN FRANCISCO (Reuters) – Alibaba Group Holding Ltd founder Jack Ma wants to keep a tight grip on the Chinese e-commerce company he founded even after he takes it public, and U.S. law gives him several ways to do so.
J.C. Penney seeks to sell as many as 97 million shares
(Reuters) – Struggling department store company J.C. Penney Co Inc said on Thursday it had begun a public offering of up to 96.6 million shares, a move that will massively dilute its current shareholders.
Bloomberg News expected to announce major management changes: WSJ
(Reuters) – Bloomberg LP could soon announce major changes in its news division that would reduce the number of editors reporting directly to Bloomberg News Editor in Chief Matt Winkler, the Wall Street Journal reported on Thursday, citing people famil…
JPMorgan’s Dimon meets with U.S. Attorney General Holder
(Reuters) – JPMorgan Chase & Co CEO Jamie Dimon met with U.S. Attorney General Eric Holder on Thursday, seeking to make sure a possible $11 billion settlement will end the bank’s pain from mortgage-securities probes, a source said.
BlackBerry’s Heins, Fairfax’s Watsa and the $55 million handshake
TORONTO (Reuters) – Months before Fairfax Financial Holdings Inc bid $4.7 billion for BlackBerry Ltd, Fairfax boss Prem Watsa played a role in securing a golden parachute worth as much as $55 million for the smartphone maker’s chief executive, accordin…
Wall Street ends five-day losing streak on job data; Nike up after the bell
NEW YORK (Reuters) – The S&P 500 and Dow snapped five-day losing streaks on Thursday on positive job market data but gains were limited as investors worried if Washington lawmakers would pass bills to avoid a government shutdown and possible U.S. debt default on time.
M&A flat so far this year, even with mammoth Verizon deal
NEW YORK (Reuters) – Dealmaking around the world was basically flat over the first nine months of the year, a disappointing level given the $130 billion Verizon Communications Inc transaction that bolstered mergers and acquisition volumes in the third …
Bank of America faces at trial ex-executive behind whistleblower case
NEW YORK (Reuters) – A former executive at Bank of America Corp’s Countrywide unit testified Thursday that the mortgage company’s problematic lending practices predated the “Hustle” process for which the bank went on trial this week.
