Popolare Milano says to reform itself while keep cooperative model
MILAN (Reuters) – Banca Popolare di Milano pledged on Monday to reform its governance to respond to requests from the Bank of Italy but said it will keep its structure as a cooperative institution.
Marvell fails to void $1.17 billion U.S. verdict, chipmaker may owe more
(Reuters) – Marvell Technology Group Ltd failed to overturn a $1.17 billion jury verdict for infringing two hard disk drive patents held by Carnegie Mellon University, and a federal judge said the amount may grow because the infringement was willful.
Microsoft revamps Surface tablets to challenge Apple
NEW YORK/SEATTLE (Reuters) – Microsoft Corp unveiled faster, more powerful versions of its Surface tablet computer on Monday in an effort to boost poor sales of its flagship hardware product and mount a stronger challenge to Apple Inc’s iPad.
GM to buy back some preferred shares from UAW trust for $3.2 billion
DETROIT (Reuters) – General Motors Co said on Monday it would buy back just under half of its preferred shares held by the United Auto Workers healthcare trust for about $3.2 billion, essentially cutting company costs by financing the deal with lower-c…
Norwegian Air summons Boeing for 787 reliability talks
OSLO (Reuters) – Norwegian Air has summoned Boeing management to Oslo to explain a slew of technical problems with its 787 Dreamliner after weekend glitches brought further disruption.
Exclusive – Oaktree group to sell U.S. foreclosed homes: sources
NEW YORK (Reuters) – Oaktree Capital Group is leading an effort to put up for sale roughly 500 fully-leased homes, an indication some early investors are looking to cash-out on the recovery in U.S. housing prices, according to sources familiar with the…
Sales of new iPhones top forecast, Apple polishes forecast
(Reuters) – Apple Inc sold a higher-than-expected 9 million iPhone 5s and iPhone 5c models in the first three days following their Friday launch, prompting the company to issue a more optimistic financial forecast.
Walmart holiday hiring to outpace U.S. retail industry
(Reuters) – Wal-Mart Stores Inc said on Monday it plans to hire 55,000 temporary workers at its Walmart U.S. stores during the holiday season, up roughly 10 percent from 2012, as the world’s largest retailer seeks to maintain its edge during a sluggish…
Monte Paschi seeks to halt Nomura’s London court action
LONDON (Reuters) – Italy’s Monte dei Paschi di Siena asked a London court on Monday to stay or dismiss legal action by Japan’s Nomura over risky derivatives trades that got the Tuscan bank into deep trouble.
Draghi: ECB could offer LTRO to keep rates low, if needed
BRUSSELS (Reuters) – The European Central Bank is ready to offer banks more long-term loans to keep money-market interest rates from rising to levels which could push inflation too low, ECB President Mario Draghi said on Monday.
