Insight: U.S. banks surrender future profit for capital relief now
NEW YORK (Reuters) – U.S. banks are increasingly giving up the right to sell tens of billions of securities in their investment portfolios, a shift that helps them avoid the pain of weaker bond markets but will cut into future profits as interest rates…
U.S. government selling last of its Citigroup bailout securities
(Reuters) – Nearly five years after bailing out Citigroup Inc in the financial crisis, the U.S. government is selling the last of its interests in the company.
Dow Jones index announces biggest shake-up in a decade
NEW YORK (Reuters) – In the biggest shake-up of the Dow Jones industrial average in nearly a decade, Goldman Sachs, Visa and Nike will join the storied 30-stock index, with Bank of America, which just two years ago was the largest U.S. bank by assets, …
Trump outlines plans for luxury hotel in Washington landmark
WASHINGTON (Reuters) – Real estate mogul Donald Trump vowed on Tuesday to turn a towering Washington landmark into one of the world’s top luxury hotels, part of a rejuvenation of the U.S. capital’s downtown.
Europe’s carmakers warn of more cuts in weak recovery
FRANKFURT (Reuters) – European carmakers need to close more factories and cut more jobs, executives at the Frankfurt car show said on Tuesday, warning any recovery in demand was likely to be long and slow as unemployment remained high and bank lending …
Barclays sees new technology driving half its cost savings
LONDON (Reuters) – The boss of Barclays said new technology is ready to transform the experience of bank customers and help his British lender deliver almost half its planned annual cost savings of 1.7 billion pounds ($2.7 billion).
Bollore says not a candidate for Vivendi CEO job
PARIS (Reuters) – Vivendi’s largest shareholder Vincent Bollore said on Tuesday he was not seeking the chief executive job at the media and telecoms group, paving the way for a resolution of a boardroom tussle.
Analysis: Brazil may be spending its way towards a downgrade
SAO PAULO (Reuters) – Brazil’s finances are set to deteriorate substantially next year, leaving the government with few options to revive a sputtering economy and raising the threat of a credit downgrade.
Tesco hands over Fresh & Easy stores to U.S. billionaire
LONDON (Reuters) – Britain’s Tesco is to lend U.S. billionaire Ron Burkle’s Yucaipa investment company 80 million pounds ($126 million) to take the loss-making Fresh & Easy stores off its hands, marking the end of a six-year attempt to crack the U.S. market.
TD Ameritrade’s new assets to soar for fifth straight year: CEO
NEW YORK (Reuters) – TD Ameritrade Holding Corp expects to report next month that new client assets rose at a double-digit rate for the fifth consecutive year, exclusive of market fluctuations, a senior executive said Tuesday.
