Author Archives: Reuters: Business News

Bangladesh Bank heist was ‘state-sponsored’: U.S. official

MANILA (Reuters) - The heist of $81 million from the Bangladesh central bank's account at the New York Federal Reserve last year was "state-sponsored," an FBI officer in the Philippines, who has been involved in the investigations, said on Wednesday.

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Hedge fund Elliott says other Akzo shareholders want PPG talks: newspaper

AMSTERDAM (Reuters) - Elliott Advisors, the hedge fund with a 3.25 percent stake in Akzo Nobel , says shareholders owning 25 percent of the Dutch paints and coatings maker want it to engage in takeover talks with spurned U.S. suitor PPG Industries , Du...

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Toshiba’s Westinghouse files for U.S. bankruptcy protection

TOKYO (Reuters) - Toshiba Corp's troubled U.S. nuclear unit Westinghouse filed for Chapter 11 protection from creditors on Wednesday, as its Japanese parent seeks to limit losses that have plunged it into crisis.

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Stocks up, formal Brexit start casts shadow over sterling

LONDON (Reuters) - European shares rose on Wednesday, following Wall Street's late surge, while sterling was the biggest loser on major currency markets ahead of the formal triggering of Britain's exit process from the European Union later in the day.

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General Motors reaches deal with Argentine port operator to import cars

BUENOS AIRES (Reuters) - A unit of General Motors Co has reached a deal with port operator Terminal Puerto Rosario to import cars to Argentina, moving the U.S. automaker a step closer to exporting from its nearby plant, the company said in a statement...

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BlackRock cuts fees and jobs; stockpicking goes high-tech

NEW YORK (Reuters) - BlackRock Inc on Tuesday said it would overhaul its actively managed equities business, cutting jobs, dropping fees and relying more on computers to pick stocks in a move that highlights how difficult it has become for humans to be...

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Wells Fargo to pay $110 million to settle lawsuit over account abuses

(Reuters) - Wells Fargo & Co said it agreed to pay $110 million to settle a lawsuit by customers challenging its opening of accounts without their permission, a practice that led to a scandal that cost the bank's chief executive his job.

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Uber diversity report shows shortage of women, minorities

(Reuters) - Uber Technologies Inc released its first diversity report on Tuesday, showing that women and non-white employees are underrepresented at the ride-services company - just as they are at many other technology firms.

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Volkswagen supervisory board backs Stadler, top managers

BERLIN (Reuters) - Volkswagen's supervisory board gave its backing on Tuesday to Audi's chief executive and other senior managers, after raids by German prosecutors related to the emissions scandal.

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China telecom firm ZTE removed from U.S. trade blacklist

WASHINGTON (Reuters) - The U.S. Department of Commerce will remove Chinese telecommunications equipment maker ZTE Corp from a trade blacklist on Wednesday after the company pleaded guilty to violating sanctions on Iran and agreed to pay nearly $900 mi...

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SEC denies a 2nd application to list a Bitcoin product

NEW YORK (Reuters) - The U.S. Securities and Exchange Commission on Tuesday denied for the second time in less than three weeks a request to bring to market a first-of-its-kind product tracking bitcoin, the digital currency.

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Wells Fargo failed test of community lending, bank says

WASHINGTON (Reuters) - A U.S. bank regulator has flunked Wells Fargo on a national scorecard for community lending, the lender said on Tuesday as it tries to repair its reputation after a phony-accounts scandal.

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U.S. House committee approves bill to increase scrutiny of Fed

WASHINGTON (Reuters) - A Republican-controlled committee of lawmakers approved a bill on Tuesday to allow a congressional audit of Federal Reserve monetary policy, a proposal Fed policymakers have opposed and which faces an uncertain path to final appr...

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