Fri, Oct 9 2015
- General Electric Co is in advanced talks to sell a specialty finance portfolio, worth more than $30 billion, to Wells Fargo & Co , according to a person familiar with the matter, as the industrial conglomerate returns to its roots.
LIMA - In 2008 central banks, led by the Federal Reserve, rode to the rescue of the global financial system. Seven years on and trillions of dollars later they no longer have the answers and may even represent a major risk for the global economy.
- Dell Inc is planning to use equity in cloud software company VMware Inc to help pay for its acquisition of EMC Corp in a deal valuing the data storage company at more than $55 billion, according to people familiar with the matter.
BERLIN/LONDON - Like many chief executives, Martin Winterkorn was a demanding boss who didn't like failure. But critics say the pressure on managers at Volkswagen was unusual, which may go some way to explaining the carmaker's crisis.
NEW YORK - JPMorgan Chase & Co on Friday won the dismissal of a U.S. whistleblower lawsuit filed by a former vice president who claimed the bank ignored red flags about a client’s potential fraud, even after authorities exposed the massive Ponzi scheme operated by longtime JPMorgan client Bernard Madoff.
NEW YORK - The financial sector, recently a weak performer in the stock market, will garner the majority of investor attention next week as a number of big banks post their quarterly results. | Video
MEXICO CITY - Mexico expects preliminary findings from a probe into Volkswagen's compliance with emissions standards within three months, the environment minister said on Friday, adding the review will include gasoline-fueled cars as well as diesel.
DETROIT - U.S. union United Auto Workers' leaders on Friday approved a tentative four-year contract with Fiat Chrysler Automobiles NV , sending the proposed agreement to 40,000 workers for a ratification vote.
- Twitter Inc is planning company-wide layoffs next week, technology news website Re/code reported on Friday, citing sources.
TORONTO/PARIS - Canada's Bombardier Inc said on Friday it is in advanced discussions to sell its new CSeries jet to airlines in North America, without identifying the prospective buyers.