Wall Street watchdog scraps controversial supervision plan
(Reuters) – Wall Street’s industry-funded watchdog has scrapped a controversial plan that would have required brokerages to supervise business lines that are not related to the securities industry, according to a recent regulatory filing.
Wall Street rallies for third day as Fed concerns fade
NEW YORK (Reuters) – U.S. stocks climbed for a third straight day on Thursday after comments from several Federal Reserve officials soothed concerns that the central bank would begin to reduce its stimulus efforts in the near future.
CVC reaches fundraising limit on soaring investor demand: source
NEW YORK (Reuters) – Buyout firm CVC Capital Partners Ltd has raised more than the 10.5 billion euros ($13.7 billion) it can accept for its latest flagship fund in just six months and will have to turn down money, a person familiar with the matter said…
Citigroup may add three new directors, chairman says
NEW YORK (Reuters) – Citigroup Inc may name as many as three more directors to its 11-member board to add skills and share the work load, Chairman Michael O’Neill said on Thursday.
Nike profit rises, North American orders jump
(Reuters) – Nike Inc on Thursday posted a higher quarterly profit and said advance orders for its clothes and shoes had jumped, particularly in North America.
Exclusive: Peugeot family ready to step aside for GM – sources
LONDON/PARIS (Reuters) – PSA Peugeot Citroen’s founding family has offered to give up control of the French automaker as it tries to revive plans for a closer tie-up with General Motors Co backed by a fresh capital injection, sources said.
Software moguls Ellison and Benioff end feud, jump into deal
SAN FRANCISCO (Reuters) – Oracle Corp Chief Executive Larry Ellison and Salesforce.com head Marc Benioff publicly ended one of Silicon Valley’s most bitter feuds on Thursday as they talked up a major alliance aimed at selling more Internet-based softwa…
Bank of America rejects AIG bid to reopen $8.5 billion mortgage accord
NEW YORK (Reuters) – Bank of America Corp has rejected a bid to re-open negotiations into its proposed $8.5 billion settlement with investors in mortgage securities, indicating it plans to take its chances that a New York judge will approve the deal.
SEC, ex-Goldman VP Tourre battle over key fraud trial witness
NEW YORK (Reuters) – As the civil fraud trial approaches of former Goldman Sachs Group Inc vice president Fabrice Tourre, the two sides are focusing on a key witness and whether her own legal troubles could affect her testimony.
Choppier profits seen on insurance accounting shake-up
NEW YORK (Reuters) – The biggest overhaul of insurance accounting in 30 years advanced a step on Thursday with the release of a proposal that some insurers fear could make their profits more volatile.
