Seven Banks Fined in Swiss Probes of Rate-Rigging Cartels
Switzerland handed out about $100 million in antitrust fines against seven U.S. and European banks for participating in cartels to manipulate widely used financial benchmarks. Your cheat sheet on life, in one weekly email. Get our weekly Game Plan newsletter. Business Your guide to the most important business stories of the day, every day. You will now receive the Business new..>> view originalCoke moves away from AB InBev with Africa bottling deal
BRUSSELS/LONDON Coca-Cola Co (KO.N) has reached a deal to buy Anheuser-Busch InBev's (ABI.BR) majority stake in their African bottling venture for $3.15 billion and hold onto it until it finds a new owner, the companies said on Wednesday. Coke said in October it would exercise a right to buy the stake formerly owned by SABMiller following SAB's takeover by AB InBev.Coke has not said why it decided to buy back the stake, but it might be in its best interest to avoid partnering with AB InBev, w..>> view originalPresident Obama bans oil drilling in large areas of Atlantic and Arctic oceans
Hundreds of kayaktivists protest drilling in the Arctic and the Port of Seattle being used as a port for the Shell Oil drilling rig Polar Pioneer (Daniella Beccaria/seattlepi.com via Associated Press) President Obama moved to solidify his environmental legacy Tuesday by withdrawing hundreds of millions of acres of federally owned land in the Arctic and Atlantic Ocean from new offshore oil and gas drilling. Obama used a little-known law called the Outer Continental Shelf Lands Act to protect ..>> view originalOlive Garden is 'molto bene' with diners and investors
Olive Garden used to be the butt of late night comedian jokes making fun of its never ending pasta bowls and the target of an activist investor who famously put out a scathing report on the quality of the company's food. But investors who've stuck with Olive Garden parent company Darden Restaurants (DRI) are having the last laugh. Darden reported solid earnings on Tuesday, thanks in large part to a jump in sales at Olive Garden. The stock rose nearly 3% on the news. Darden is now up more ..>> view originalItaly Bank Rescue Won't Fill $54 Billion Hole on Their Books
Italian banks need at least 52 billion euros ($54 billion) to clean up their balance sheets, much more than the rescue package proposed Monday by the government.The shortfall is an estimate of how much lenders would have to increase loan-loss provisions to allow for the sale of bad debt, according to data compiled by Bloomberg. It includes the 8 billion euros of provisions UniCredit SpA has said it will add before selling 18 billion euros of its worst loans and uses that ratio as a proxy for th..>> view originalGlobal stocks steady as Dow attempts another 20000 breach
FILE - In this Oct. 8, 2014, file photo, people walk to work on Wall Street beneath a statue of George Washington, in New York. Major stock indexes are opening at record levels Tuesday, Dec. 20, 2016, as banks trade higher thanks to a recovery in bond ...>> view originalDollar basks in yield allure, Nikkei touches 1-year peak
By Wayne Cole | SYDNEY SYDNEY The U.S. dollar held near 14-year peaks on Wednesday as global yield spreads shifted inexorably in its favour, while early weakness in the yen saw Japanese shares touch a one-year top.Profit-taking set in as a slow pre-Christmas session dragged on and the Nikkei eased 0.2 percent in late trade. Spread betters pointed to a small opening loss for European exchanges after shares there hit an 11-month high on Tuesday.Australia's main index finished at its best level..>> view originalFedEx (FDX) Misses Q2 Earnings Estimates, Shares Decline
FedEx Corporation 's FDX second-quarter fiscal 2017 (ended Nov 30, 2016) earnings per share (on an adjusted basis) of $2.80 fell short of the Zacks Consensus Estimate of $2.91. The bottom line was hurt by higher costs. Earnings, however, climbed 8.53% on a year-over-year basis.FindTheCompany | GraphiqAlthough shares of FedEx have outperformed the Zacks categorized Transportation-Air Freight industry on a year-to-date basis, the earnings miss resulted in the stock declining 3.34% in after hours ..>> view originalSpain Probably Expanded 0.7% This Quarter, Central Bank Says
Spain’s economy probably maintained its pace this quarter, supported by resilient internal demand and “intense” job creation, the country’s central bank said. The most important market news of the day. Get our markets daily newsletter. Business Your guide to the most important business stories of the day, every day. You will now receive the Business newsletter ..>> view originalHow America's biggest banks boost your fees
Overdrafts, once used as a short-term accommodation to bank customers, have turned into a fee-for-all. Only six of the nation’s 50 largest banks restrict overdrafts with consumer-friendly policies. The remaining 44 engage in one or more practices likely to nick their customers with overdraft fees, according to new research by the Pew Charitable Trusts. The six institutions that follow consumer-friendly policies when it comes to overdraft fees are: Ally Bank (ALLY), Charles Schwab Bank (SCHW), D..>> view original
Thursday, January 12, 2017
Seven Banks Fined in Swiss Probes of Rate-Rigging Cartels and other top stories.
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