Apple’s two new iPhones target high, low-end markets
CUPERTINO, California (Reuters) – Apple Inc unveiled a high-end iPhone with a fingerprint scanner as it tries to stand out in a crowded market, and a cheaper, colorful plastic model for emerging markets that proved pricier than expected.
SocGen eyes 10 percent capital ratio by end-2013: exec
PARIS (Reuters) – French bank Societe Generale is eyeing a 10 percent core capital ratio under tougher Basel III rules by end-2013, higher than its official target of 9.5, its deputy chief executive said on Tuesday.
Madoff trustee wins dispute over fraud victims’ damages
NEW YORK (Reuters) – A federal bankruptcy judge said victims of Bernard Madoff’s fraud are not entitled to interest or inflation adjustments on their claims, a decision that could speed the return of $1.36 billion to the swindler’s former customers.
U.S. decision on Keystone XL pipeline likely to slip into 2014
WASHINGTON (Reuters) – As the State Department drags out the approval of the Keystone XL pipeline, it is more likely President Barack Obama’s final decision on the project to help link Canada’s oil sands to U.S. refineries will slip into 2014, experts …
Upstart analyst says Kinder ‘starves’ assets for investors
HOUSTON (Reuters) – An analyst who has drawn criticism from Wall Street for making incendiary comments about Kinder Morgan claimed on Tuesday the U.S. pipeline company has cut maintenance work to boost cash distributed to investors in its partnerships….
U.S. VW execs ‘forced’ by German boss to sign UAW letter: Sen Corker
DETROIT (Reuters) – U.S. executives at Volkswagen AG’s plant in Tennessee were “forced” by a German board member to sign a letter disclosing the United Auto Workers’ efforts to organize the factory, a move that created tension within the company, U.S. …
Early China iPhone launch gives smugglers a run for their money
HONG KONG (Reuters) – Apple Inc’s millions of Chinese fans will celebrate the near-simultaneous launch of the latest iPhone in China and the United States, but one group will have little to cheer – the smugglers.
U.S. judge approves $72 million settlement with Berkshire’s Gen Re
NEW YORK (Reuters) – A U.S. judge on Tuesday approved a $72 million settlement to resolve shareholder claims that Berkshire Hathaway Inc’s General Re Corp engaged in a sham deal that helped inflate American International Group Inc’s reserves.
EU telecoms chief gets backing for reform package
BRUSSELS (Reuters) – The European Union Commission has approved a plan to spur investment in communications networks and create a single market for telecoms services despite concerns that some parts may favor big operators, two officials said on Tuesda…
Morgan Stanley keeps eye on expenses as legal costs rise: CFO
NEW YORK (Reuters) – Morgan Stanley is focused on cost-cutting, as legal expenses remain high and revenue has slowed in a seasonally weak period for trading and investment banking, Chief Financial Officer Ruth Porat said on Tuesday.
