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February 28, 2020
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Financials (Legacy)

Reuters - Business

Ex-Barclays bankers cleared over Qatar fees in blow to UK fraud office

Reuters
LONDON (Reuters) – Three former Barclays (BARC.L) executives were acquitted in London on Friday of charges they helped funnel 322 million pounds ($418 million) in secret fees to Qatar during the credit crisis, in return for rescue funding. Former Barclays banker Richard Boath leaves the Old Bailey Central Criminal Court......
Reuters - Business

London Stock Exchange on track to close Refinitiv deal as income jumps

Reuters
The London Stock Exchange Group (LSE.L) said on Friday it would complete its $27 billion takeover of analytics company Refinitiv on time this year as it reported higher-than-expected annual income, driven a jump in clearing activity. The Refinitiv logo is seen on a screen in offices in Canary Wharf in......
Reuters - Business

UBS cuts Ermotti’s pay after French court blow, overhauls bonus scheme

Reuters
Swiss bank UBS CEO Sergio Ermotti addresses a news conference in Zurich, Switzerland February 20, 2020. REUTERS/Arnd Wiegmann ZURICH (Reuters) – UBS (UBSG.S) Chief Executive Sergio Ermotti cashed in less money in 2019 as the bank made pay concessions related to a French tax case and missed earnings goals during......
Reuters - Business

Public Storage only bidder left for National Storage with $1.25 billion bid

Reuters
(Reuters) – U.S.-based Public Storage (PSA.N) emerged on Friday as the likely buyer of Australia’s largest self-storage operator National Storage REIT (NSR.AX) with its current A$1.89 billion ($1.25 billion) offer, after two rivals dropped out of the race. Warburg Pincus had pulled out of the contest, National Storage said on......
Reuters - Business

SEC orders Wells Fargo pay $35 million for recommendations of high-risk products

Reuters
FILE PHOTO: The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011./File Photo WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission said on Thursday it ordered Wells Fargo & Co (WFC.N) to pay $35 million to settle charges it......
Reuters - Business

JPMorgan names veteran Gori as new Asia Pacific chief executive

Reuters
FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/Files HONG KONG (Reuters) – JPMorgan Chase & Co (JPM.N) on Thursday named veteran Filippo Gori as its new Asia Pacific chief executive officer to oversee......
Reuters - Business

Virgin Money plans to cut 500 jobs and close 52 branches

Reuters
Signage is seen outside a branch of Virgin Money in Manchester, Britain, November 20, 2018. REUTERS/Phil Noble LONDON (Reuters) – British challenger bank Virgin Money (VMUK.L) is planning to cut 500 jobs as it presses ahead with cost-cutting after bulking up through the merger of Virgin Money and Clydesdale and......
Reuters - Business

Britain’s Lloyds to cut 780 jobs: union

Reuters
FILE PHOTO: A woman looks at her phone as she walks past a branch of Lloyds Bank in London, Britain, July 20, 2018. REUTERS/Toby Melville/File Photo LONDON (Reuters) – Britain’s biggest domestic bank Lloyds (LLOY.L) is planning to axe 780 jobs as part of ongoing cost-cutting at the lender, union......
Reuters - Business

Thomson Reuters names new CEO, earnings top estimates

Reuters
NEW YORK (Reuters) – Thomson Reuters Corp (TRI.N) (TRI.TO) said on Tuesday it had appointed former Nielsen Holdings Plc (NLSN.N) president Steve Hasker as its new chief executive officer, succeeding Jim Smith. Newly announced Thomson Reuters president and chief executive officer Steve Hasker poses in Toronto, Ontario, Canada February 24,......
Reuters - Business

JPMorgan raises clean energy spending goals, profit targets unchanged

Reuters
(Reuters) – JPMorgan Chase & Co (JPM.N) on Tuesday largely maintained its key profit goals for the medium term, while the largest U.S. bank also raised its financial commitment for clean-energy initiatives, after years of pressure from environmental activists. FILE PHOTO: The J.P.Morgan logo is seen at Canary Wharf financial......
Reuters - Business

Wall Street plunges on fears of coronavirus pandemic

Reuters
New York (Reuters) – The S&P 500 and the Dow Jones Industrial Average on Monday suffered their biggest one-day percentage losses in two years after a surge in coronavirus cases outside China fanned worries about the global economic impact of a potential pandemic. Investors sold riskier assets and rushed to......
Reuters - Business

UBS, Credit Suisse’s emergency plans are effective: financial watchdog

Reuters
ZURICH (Reuters) – The emergency plans of UBS (UBSG.S) and Credit Suisse (CSGN.S) to deal with a financial crisis are effective, Switzerland’s regulator FINMA said on Tuesday. FILE PHOTO: The logo of Swiss bank UBS is seen at a branch office in Zurich, Switzerland January 27, 2017. REUTERS/Arnd Wiegmann The......
Reuters - Business

Bank of America names new French investment banking boss: memo

Reuters
LONDON (Reuters) – Bank of America (BAC.N) has appointed Jérôme Morisseau as its head of investment banking for France as it seeks to bolster its Paris franchise and win more business from large French clients, a memo seen by Reuters said. FILE PHOTO: A Bank of America logo is pictured......
Reuters - Business

Renault says reserves the right to seek damages depending on Ghosn probe

Reuters
FILE PHOTO: The logo of Renault carmaker is pictured at a dealership in Les Sorinieres, near Nantes, France, February 19, 2020. REUTERS/Stephane Mahe PARIS (Reuters) – Renault (RENA.PA) said on Monday it had filed a civil-party petition after French prosecutors last week opened a formal investigation into alleged misappropriation of......
Reuters - Business

Mastercard to add 1,500 technology jobs in Ireland

Reuters
FILE PHOTO: Mastercard Inc. credit cards are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/Illustration DUBLIN (Reuters) – Mastercard Inc (MA.N) plans to hire 1,500 more staff at its global technology hub in Dublin over the next three to five years, more than trebling the size of......
Reuters - Business

Italy’s UniCredit says Mustier to stay on as CEO

Reuters
FILE PHOTO: Unicredit bank CEO Jean Pierre Mustier poses during the shareholders meeting in Rome, Italy, January 12, 2017. REUTERS/Remo Casilli/File Photo MILAN (Reuters) – Italy’s biggest bank UniCredit (CRDI.MI) said on Monday Chief Executive Jean Pierre Mustier had confirmed he would remain in his role, following media reports that......
Reuters - Business

UniCredit CEO Mustier ruled out of HSBC role: source

Reuters
FILE PHOTO: A logo of UniCredit is seen in downtown Milan, August 18, 2014. REUTERS/Stefano Rellandini LONDON/MILAN (Reuters) – UniCredit Chief Executive Jean Pierre Mustier has ruled himself out of a switch to European rival HSBC (HSBA.L), a source with knowledge of the matter told Reuters on Sunday. Italy’s biggest......
Reuters - Business

TurboTax maker Intuit nears agreement to buy Credit Karma for $7 billion: WSJ

Reuters
The new Form 1040 tax form for individuals, released by U.S. Treasury Department, is shown in this handout image obtained June 29, 2018. Department of the Treasury/Handout via REUTERS (Reuters) – Intuit Inc is nearing an agreement to buy financial technology portal Credit Karma Inc for about $7 billion, the......
Reuters - Business

RBC to launch U.S. consumer bank betting on wealthy clients

Reuters
(Reuters) – Royal Bank of Canada plans to open a consumer bank in the United States early next year targeting wealthy clients, with the aim of expanding deposits, its chief financial officer told Reuters on Friday after the bank posted first-quarter profit that beat expectations. The Royal Bank of Canada......
Reuters - Business

In next downturn, Fed may opt for quick, strong action

Reuters
NEW YORK/SAN FRANCISCO (Reuters) – In the next economic downturn, the Federal Reserve and other central banks may need to roll out their big guns sooner and use them more aggressively, or risk getting mired in growth-sapping deflation or worse. FILE PHOTO: Federal Reserve Board Governor Lael Brainard speaks at......

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