WASHINGTON (Reuters) – Swedish mobile telecoms company Ericsson (ERICb.ST) has agreed to pay over $1 billion to resolve probes into corruption, including the bribing of government officials, the U.S. Department of Justice said on Friday. FILE PHOTO: An Ericsson logo is pictured at Mobile World Congress (MWC) in Shanghai, China Continue Reading
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U.S. stock funds lose $3.6 billion in week: Lipper
(Reuters) – U.S. equity funds saw $3.6 billion in outflows in the week ended on Wednesday, according to data released on Thursday by Lipper. U.S. taxable bond funds attracted $12.4 billion, the 15th straight inflow, while U.S. money market funds shed $25.3 billion during the period, the largest outflow since Continue Reading
AT&T to add directors, sell up to $10 billion in assets next year
(Reuters) – AT&T Inc on Monday unveiled a three-year strategic plan that included selling up to $10 billion worth of businesses next year, paying off all its debt from the purchase of Time Warner and adding two new board members, bowing to pressure from activist investor Elliott Management. The second-largest Continue Reading
Fallout from money manager Kenneth Fisher’s remarks tops $1 billion in lost assets
BOSTON (Reuters) – Fallout from Kenneth Fisher’s alleged insensitive remarks about women escalated on Friday when a large Iowa pension plan cut ties with the money manager, whose firm has lost more than $1 billion in assets under management in the last week. The Iowa Public Employees’ Retirement System was Continue Reading
Hyundai Motor Group, Aptiv to set up $4 billion self-driving car venture
SEOUL/NEW YORK (Reuters) – Hyundai Motor Group will invest $1.6 billion in a joint venture to develop self-driving vehicle technologies with Aptiv (APTV.N), the biggest overseas investment by the South Korean carmaker to catch up to rivals in the autonomous car market. FILE PHOTO: The logo of Hyundai Motor is Continue Reading
China strikes back at U.S. with new tariffs on $75 billion in goods
BEIJING (Reuters) – China said on Friday it will impose retaliatory tariffs against about $75 billion worth of U.S. goods, putting as much as an extra 10% on top of existing rates in the dispute between the world’s top two economies. The latest salvo from China comes after the United Continue Reading
London Stock Exchange in talks to buy Refinitiv for $27 billion
LONDON/NEW YORK (Reuters) – The London Stock Exchange Group Plc (LSE.L) said on Friday it was in discussions to acquire financial data analytics provider Refinitiv Holdings Ltd for $27 billion, including debt. FILE PHOTO: An advertisement for Refinitiv is seen on a screen in London’s Canary Wharf financial centre, London, Continue Reading
Investors pull $1.5 billion from India equities so far in July: IIF
NEW YORK (Reuters) – Non-residents have pulled about $1.5 billion from Indian equities so far in July, reversing a strong trend of inflows in previous months, data from the Institute of International Finance showed on Wednesday. “Unlike other episodes, which mostly coincided with broader (emerging market) outflows such as Continue Reading
U.S. equity funds add $1.7 billion ahead of Fed chair testimony: BAML
LONDON (Reuters) – Investors pumped money into bonds and equities in the week to Wednesday with U.S. stock funds adding $1.7 billion, Bank of America Merrill Lynch said on Friday, as markets tried to weigh hopes for major central bank stimulus against economic woes. Bond funds raked in $9.6 billion Continue Reading
Deutsche Bank to cut 18,000 jobs in 7.4 billion euro overhaul
FILE PHOTO: The Deutsche Bank headquarters are seen in Frankfurt, Germany October 29, 2015. REUTERS/Kai Pfaffenbach/File Photo FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) plans to cut 18,000 jobs in a sweeping, 7.4 billion euro overhaul designed to turn around Germany’s struggling flagship lender The bank will also scrap its global Continue Reading