Yellen cites 'potential dangers' in U.S. stock valuations

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.

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Bank of America shareholders back board despite criticism

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.

2:10pm EDT

Proxy firms recommend JPMorgan shareholders vote against pay plan

- 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.

12:58pm EDT

MasterCard doubles card numbers in Middle East, Africa

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.

8:29am EDT

Pimco client outflows will hit profit: Allianz

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.

11:10am EDT

European lenders dash Greek hopes for quick aid deal

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.

1:23pm EDT


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