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December 11, 2019
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Reuters - Business

Huawei’s CFO wins Canada court fight to see more documents related to her arrest

Reuters
FILE PHOTO: Huawei Technologies Chief Financial Officer Meng Wanzhou leaves her home to appear in British Columbia supreme court for a hearing, in Vancouver, British Columbia, Canada September 30, 2019. REUTERS/Lindsey Wasson (Reuters) – Lawyers for Huawei’s chief financial officer won a court battle when a judge asked Canada’s attorney...
Reuters - Business

Exclusive: Malaysia’s Mahathir hopeful of 1MDB settlement with Goldman soon

Reuters
KUALA LUMPUR (Reuters) – Malaysian Prime Minister Mahathir Mohamad is hopeful of reaching an out-of-court settlement with Goldman Sachs (GS.N) over the 1MDB scandal soon, but that compensation of “one point something billion” dollars offered by the bank was too small. The Southeast Asian nation has charged Goldman and 17...
Reuters - Business

Deutsche paints gloomy picture at investor gathering

Reuters
FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) pared back its revenue growth target on Tuesday, highlighting the tough task facing Germany’s biggest lender to revive its fortunes against a gloomy economic backdrop. Deutsche’s management gave a presentation to investors on its restructuring which aims to shift the bank away from Wall...
Reuters - Business

Britain’s Lloyds criticized for mistreating victims of major fraud

Reuters
FILE PHOTO: People walk past a branch of Lloyds Bank on Oxford Street in London, Britain July 28, 2016. REUTERS/Peter Nicholls LONDON (Reuters) – Lloyds Banking Group (LLOY.L) has been heavily criticized for mishandling a compensation scheme for victims of one of Britain’s biggest banking scandals in a report published...
Reuters - Business

Choppy markets leave U.S. bank bonus decisions in limbo

Reuters
NEW YORK (Reuters) – December is always a month of suspense on Wall Street, as dealmakers, traders and money managers at big U.S. banks wait to find out how much they will receive in bonuses. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in...
Reuters - Business

J&J CEO spurns U.S. congressional hearing on carcinogens in talc products

Reuters
(Reuters) – Johnson & Johnson (JNJ.N) Chief Executive Officer Alex Gorsky has declined to appear at a U.S. congressional hearing set for Tuesday on the safety of the company’s Baby Powder and other talc-based cosmetics. FILE PHOTO: Alex Gorsky, Chairman and CEO of Johnson & Johnson, celebrates the 75th anniversary...
Reuters - Business

Amazon lawsuit blames Trump for loss of Pentagon cloud contract

Reuters
WASHINGTON (Reuters) – Amazon.com Inc (AMZN.O) on Monday accused U.S. President Donald Trump of exerting “improper pressure” and bias that led the Department of Defense to award a lucrative $10 billion cloud contract to rival Microsoft Corp (MSFT.O). FILE PHOTO: The logo of Amazon is seen at the company logistics...
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Testimony begins in U.S. states’ lawsuit to block T-Mobile/Sprint deal

Reuters
NEW YORK (Reuters) – Witness testimony began Monday over an effort by U.S. state attorneys general to stop T-Mobile US Inc (TMUS.O) from buying Sprint Corp (S.N), in a case that highlights disagreements between federal antitrust enforcers, who are Republican, and Democrats in powerful states. Attorneys for the 13 states...
Reuters - Business

Ericsson to pay over $1 billion to resolve U.S. corruption probes

Reuters
WASHINGTON (Reuters) – Swedish mobile telecoms company Ericsson 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 June...
Reuters - Business

Bankrupt PG&E reaches $13.5 billion settlement with California wildfire victims

Reuters
(Reuters) – California’s bankrupt power producer PG&E Corp (PCG.N) said on Friday it had reached a $13.5 billion settlement with victims of some of most devastating wildfires in the state’s modern history. FILE PHOTO: Employees of Pacific Gas & Electric (PG&E) work in the aftermath of the Camp Fire in...
Reuters - Business

Proxy adviser ISS opposes plan by Hudson’s Bay chairman to take firm private

Reuters
(Reuters) – Institutional Shareholder Services said on Friday it recommends shareholders vote against a plan by the chairman of Hudson’s Bay Co (HBC.TO) to take the Saks Fifth Avenue owner private after the bid was topped by an offer from Catalyst Capital Group Inc. FILE PHOTO: U.S. flags fly outside...
Reuters - Business

Ericsson agrees to pay over $1 billion to resolve U.S. corruption probes

Reuters
WASHINGTON (Reuters) – Swedish mobile telecoms company Ericsson 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 June...
Reuters - Business

Ericsson agrees to pay over $1 billion to resolve U.S. corruption probe

Reuters
FILE PHOTO: An Ericsson logo is pictured at Mobile World Congress (MWC) in Shanghai, China June 28, 2019. REUTERS/Aly Song WASHINGTON (Reuters) – Swedish mobile telecoms company Ericsson has agreed to pay over $1 billion to resolve a probe into corruption, including bribing of government officials, over many years in...
Reuters - Business

Indonesia fines Garuda after CEO fired over smuggled Harley Davidson

Reuters
JAKARTA (Reuters) – Indonesia will fine flag carrier PT Garuda Indonesia (GIAA.JK) for violating aviation rules after its chief executive was accused of smuggling a Harley Davidson motorcycle onboard a new plane, state news agency Antara cited the transport minister as saying. Evidences of Harley Davidson and Brompton bicycle, which...
Reuters - Business

SoftBank’s Son cleaves to gut-led investing in chat with Alibaba’s Ma

Reuters
TOKYO (Reuters) – Weeks after his billion-dollar bailout of WeWork, SoftBank Group Corp’s founder and CEO Masayoshi Son reiterated his belief in an instinct-led investing style, in a discussion with Alibaba Group Holding Inc’s co-founder Jack Ma. SoftBank Group founder and CEO Masayoshi Son and Alibaba founder and former Chairman...
Reuters - Business

JPMorgan banker testifying for cartel prosecutors says there was no agreement

Reuters
SYDNEY (Reuters) – A prosecution witness in an Australian criminal cartel case against Citigroup Inc (C.N) and Deutsche Bank AG (DBKGn.DE) said on Friday that the banks never colluded, but that he helped a regulator build its case to get immunity. FILE PHOTO: A sign outside the headquarters of JP...
Reuters - Business

SoftBank’s Son cleaves to guts-led investing in chat with Alibaba’s Ma

Reuters
TOKYO (Reuters) – Weeks after his billion-dollar bailout of WeWork, SoftBank Group Corp’s (9984.T) founder and CEO Masayoshi Son reiterated his belief in an instinct-led investing style, in a discussion with Alibaba Group Holding Inc’s (BABA.N) co-founder Jack Ma. SoftBank Group founder and CEO Masayoshi Son and Alibaba founder and...
Reuters - Business

JPMorgan banker says he spent a year meeting regulator in Australian cartel case

Reuters
SYDNEY (Reuters) – A senior JPMorgan Chase & Co (JPM.N) banker spent over a year in meetings with the Australian antitrust regulator before signing a statement that would be used to bring criminal cartel charges against two rival banks and their executives, a court heard on Friday. FILE PHOTO: A...
Reuters - Business

Huawei mounts legal challenge against FCC over rural carrier customers

Reuters
SHENZHEN, China (Reuters) – China’s Huawei mounted a legal challenge against the U.S. Federal Communications Commission (FCC) on Thursday after the body designated the technology giant as a security threat and moved to bar it from a government subsidy program. The FCC last month voted unanimously to designate Huawei Technologies...
Reuters - Business

BlackRock says global active equities chief Wiseman to leave firm after breaching relationships policy

Reuters
(Reuters) – Mark Wiseman, global head of active equities at BlackRock Inc, is leaving the firm following a violation of the company’s “relationships at work policy,” the world’s largest asset manager said in an internal memo on Thursday. Mark Wiseman, Global Head of Active Equities and Chairman of BlackRock Alternative...

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