WASHINGTON - Federal Reserve Chair Janet Yellen on Wednesday said high equity valuations could pose potential dangers but that stability risks across the U.S. financial system remained in check.
Recent Business News
NEW YORK - Shareholders voted to back Bank of America Corp's executive compensation, board nominations and opposition to shareholder proposals at the annual meeting on Wednesday, despite earlier complaints about bylaws being changed.
- Two major proxy advisory firms recommended that JPMorgan Chase & Co's shareholders vote against the bank's executive compensation plan, saying Chief Executive Jamie Dimon's pay was not fully aligned with his performance.
DUBAI - MasterCard Inc has doubled the number of its cards to about 100 million in the Middle East and Africa in the past three years, where it has begun setting up partnerships with governments to provide access to its payments system.
FRANKFURT/MUNICH - Outflows of customer funds from U.S. investment manager Pimco will hurt earnings this year - and it is not yet possible to predict when flows might turn positive again, owner Allianz warned on Wednesday.
ATHENS/FRANKFURT - European lenders on Wednesday dashed Greece's hopes for a quick cash-for-reforms deal in the coming days, leaving Athens in an increasingly desperate financial position ahead of a major debt payment next week.