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January 24, 2020
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Reuters - Business

Insys founder Kapoor sentenced to 66 months in prison for opioid scheme

Reuters
BOSTON (Reuters) – John Kapoor, the founder of Insys Therapeutics Inc, on Thursday was sentenced to 66 months in prison for his role in a bribery and fraud scheme that contributed to the U.S. opioid crisis. FILE PHOTO: John Kapoor (R), the billionaire founder of Insys Therapeutics Inc., leaves the......
Reuters - Business

Insys founder faces stiff prison sentence, $100 million-plus in forfeiture

Reuters
BOSTON (Reuters) – John Kapoor, the founder of Insys Therapeutics Inc (INSYQ.PK), on Thursday could be sentenced to several years in prison and ordered to forfeit up to $113 million for his role in a bribery and fraud scheme that contributed to the U.S. opioid crisis. FILE PHOTO: John Kapoor,......
Reuters - Business

UK’s Morrisons to cut 3,000 management jobs

Reuters
FILE PHOTO: Shopping trolleys are parked at a Morrisons supermarket in south London, Britain, August 19, 2016. REUTERS/Peter Nicholls/File Photo LONDON (Reuters) – Morrisons (MRW.L), Britain’s No. 4 supermarket group, plans to cut 3,000 management jobs as part of a major restructuring of its workforce that will see 7,000 store......
Reuters - Business

Canada prosecutors say fraud at heart of Huawei CFO Meng’s U.S. extradition case

Reuters
VANCOUVER (Reuters) – Huawei Chief Financial Officer Meng Wanzhou returned to a Vancouver courtroom on Wednesday where Canadian prosecutors defended a U.S. extradition request, saying Meng’s alleged bank fraud is the heart of the case that has strained relations between Ottawa and Beijing. Huawei Chief Financial Officer Meng Wanzhou leaves......
Reuters - Business

Huawei CFO Meng arrives in Vancouver court for third day of U.S. extradition hearing

Reuters
VANCOUVER (Reuters) – Huawei Chief Financial Officer Meng Wanzhou returned to a Vancouver courtroom on Wednesday where Canadian prosecutors are expected to defend a U.S. extradition request in a third day of hearings on a case that has strained relations with China. Huawei Chief Financial Officer Meng Wanzhou leaves her......
Reuters - Business

With record profits on Wall Street, small bonuses will annoy bankers: experts

Reuters
NEW YORK (Reuters) – Most Wall Street banks announced their fourth quarter profits beat industry expectations last week. But by the end of this week, bank sources and compensation experts told Reuters, most of their staff will be underwhelmed by their bonuses. FILE PHOTO: Traders work on the floor at......
Reuters - Business

Exclusive: Bank of America to hire 50 bankers for Asia dealmaking team in 2020 – sources

Reuters
HONG KONG (Reuters) – Bank of America Corp (BAC.N) will recruit about 50 bankers for its investment team in Asia this year, as it pushes to bulk up its dealmaking business and shore up revenues from the unit globally, three people with direct knowledge of the matter said. FILE PHOTO:......
Reuters - Business

Sainsbury’s CEO Coupe to be replaced by retail boss Roberts

Reuters
LONDON (Reuters) – Mike Coupe will step down as CEO of Sainsbury’s (SBRY.L) at the end of May after six years at the helm, with Britain’s second largest supermarket group opting for continuity by choosing retail director Simon Roberts as his successor. FILE PHOTO: Mike Coupe, the CEO of Sainsbury’s......
Reuters - Business

Huawei CFO’s lawyers argue U.S. extradition case does not pass Canadian law

Reuters
VANCOUVER (Reuters) – Huawei Chief Financial Officer Meng Wanzhou returned to a Vancouver court on Tuesday, where her lawyers argued for a second straight day that the U.S. extradition request against Meng is founded in sanctions violation. FILE PHOTO: Huawei Chief Financial Officer Meng Wanzhou leaves B.C. Supreme Court for......
Reuters - Business

Huawei CFO’s lawyer attacks U.S. extradition case in Canadian trial

Reuters
VANCOUVER/TORONTO (Reuters) – A lawyer for Huawei Chief Financial Officer Meng Wanzhou argued on Monday that “double criminality” was at the center of a trial to decide whether she can be extradited to the United States, a case that has strained relations between Ottawa and Beijing. Meng, 47, arrived in......
Reuters - Business

Huawei CFO Meng’s lawyer says ‘double criminality’ at center of U.S. extradition case

Reuters
VANCOUVER/TORONTO (Reuters) – A lawyer for Huawei Chief Financial Officer Meng Wanzhou argued on Monday that “double criminality” was at the center of a trial to decide whether Meng can be extradited to the United States, a case that has strained relations between Ottawa and Beijing. Meng, 47, arrived in......
Reuters - Business

Huawei CFO Meng arrives in Canada court for U.S. extradition trial kick off

Reuters
VANCOUVER/TORONTO (Reuters) – Huawei Chief Financial Officer Meng Wanzhou arrived in a Vancouver courtroom on Monday for the start of a trial to decide whether she can be extradited to the United States, as China repeated its call for Canada to release her. The United States has charged Meng with......
Reuters - Business

China repeats call on Canada to release Huawei’s Meng as extradition trial set to kick off

Reuters
VANCOUVER/TORONTO (Reuters) – China on Monday repeated its call for Canada to release Huawei Chief Financial Officer Meng Wanzhou, ahead of her expected arrival in a Vancouver courtroom for the start of a trial to decide whether she can be extradited to the United States. The United States has charged......
Reuters - Business

Key events in Huawei CFO Meng Wanzhou’s extradition case

Reuters
TORONTO/LONDON (Reuters) – Meng Wanzhou, chief financial officer of Huawei Technologies Co Ltd, will appear in a Vancouver, Canada, courtroom on Monday for the first day of her extradition trial, a process expected to take months – possibly years – to decide whether she can be extradited from Canada to......
Reuters - Business

Meng Wanzhou’s freedom on trial as China-U.S. clash plays out in Canada court

Reuters
VANCOUVER/TORONTO (Reuters) – Huawei Chief Financial Officer Meng Wanzhou will be in a Vancouver courtroom on Monday for the first day of her extradition trial, a process expected to take months – possibly years – to decide whether she can be extradited from Canada to the United States. The United......
Reuters - Business

Founder of South Korean retail giant Lotte dies

Reuters
Lotte Group Founder Shin Kyuk-ho arrives for a trial at a court in Seoul, South Korea, March 20, 2017. REUTERS/Kim Hong-Ji SEOUL (Reuters) – Lotte Group founder Shin Kyuk-ho, who started manufacturing chewing gum in 1948 in Japan and built the business into South Korea’s No.5 conglomerate with interests ranging......
Reuters - Business

Best Buy starts investigation into CEO’s personal conduct

Reuters
FILE PHOTO: A sign marks a Best Buy store in Salem, New Hampshire, U.S., November 25, 2019. REUTERS/Brian Snyder (Reuters) – U.S. consumer electronics retailer Best Buy Co (BBY.N) said on Friday that its board was conducting an independent review on allegations of misconduct against Chief Executive Officer Corie Barry......
Reuters - Business

Morgan Stanley CEO Gorman’s total 2019 pay falls 7% to $27 million

Reuters
FILE PHOTO: James P. Gorman, chairman & CEO of Morgan Stanley, testifies before a House Financial Services Committeeon Capitol Hill in Washington, U.S., April 10, 2019. REUTERS/Aaron P. Bernstein/File Photo NEW YORK (Reuters) – Morgan Stanley (MS.N) said on Friday that its board lowered Chief Executive Officer James Gorman’s total......
Reuters - Business

Boeing addresses new 737 MAX software issue that could keep plane grounded longer

Reuters
FILE PHOTO: A Boeing 737 Max aircraft is seen parked in a storage area at the company’s production facility in Renton, Washington, U.S. January 10, 2020. REUTERS/Lindsey Wasson WASHINGTON (Reuters) – Boeing Co (BA.N) said on Friday it is addressing a new software issue discovered in Iowa last weekend during......
Reuters - Business

Boeing says it is addressing new 737 MAX software issue discovered in technical review

Reuters
FILE PHOTO: A Boeing 737 Max aircraft is seen parked in a storage area at the company’s production facility in Renton, Washington, U.S. January 10, 2020. REUTERS/Lindsey Wasson WASHINGTON (Reuters) – Boeing Co (BA.N) said on Friday it is addressing a new software issue discovered during a technical review of......

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