Business News Headlines

Wed, Aug 20 2014

Asia shares slip as China disappoints, Japan bucks trend

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SYDNEY - Asian shares came under pressure on Thursday as a disappointing survey on Chinese manufacturing stoked concerns about the regional giant and overshadowed better news from Japan.

20 Aug 2014

China, Japan August factory surveys signal economic softness

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BEIJING/TOKYO - China's manufacturing activity hit a three-month low in August, raising the case for fresh policy steps to keep growth on track, while a Reuters poll showed Japan's economic recovery is likely to be modest despite a small acceleration in the factory sector. | Video

China, Japan 1:50am EDT

Exclusive: U.S. regulators step up warnings to banks for poor risk-spotting

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NEW YORK - U.S. regulators are sending some of the biggest global banks verbal warnings as they crack down on the firms' poor grasp of their own weaknesses, and push for rapid improvements in risk assessment, according to two sources familiar with the matter.

Dollar General questions motives of Family Dollar CEO

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- Dollar General Corp questioned whether Family Dollar Stores Inc Chief Executive Howard Levine was being driven by self-interest in his support of a proposed takeover of his company by Dollar Tree Inc .

12:58am EDT

Fed debates merits of earlier rate hike given U.S. jobs gains

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WASHINGTON - The U.S. Federal Reserve hinted on Wednesday that a surprisingly strong jobs market recovery could lead it to raise interest rates earlier than it had been anticipating.

20 Aug 2014

BofA in $16.5 billion deal with U.S. over mortgage bonds: source

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WASHINGTON - Bank of America Corp is expected to pay more than $16.5 billion to end investigations into mortgage securities that the bank and its units sold in the run-up to the financial crisis, in a deal that could be announced as early as Thursday, a person familiar with the matter said.

Icahn reveals stake in Hertz, plans to push management

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BOSTON - Billionaire investor Carl Icahn said on Wednesday that he owns an 8.5 percent stake in Hertz Global Holdings Inc and plans to pressure the rental car company's management over accounting issues and operational failures.

20 Aug 2014

KPMG says EU bank reforms should be shelved: Bloomberg

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- Audit firm KPMG [KPMG.UL] has written to Europe's largest lenders saying a European Commission plan to separate banks' consumer and investment-banking arms should be shelved, Bloomberg reported on Thursday.

20 Aug 2014

JPMorgan, BofA to raise junior banker pay by 20 percent: sources

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NEW YORK - JPMorgan Chase & Co and Bank of America Corp are planning to hike salaries of junior employees by at least 20 percent, people familiar with the proceedings said.

20 Aug 2014

Bosses of China's state-owned firms face hefty pay cuts: paper

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HONG KONG - Senior executives of China's state-owned enterprises (SOEs) face pay cuts of up to 50 percent under a reform plan approved by President Xi Jinping, the South China Morning Post reported on Thursday, citing sources.

20 Aug 2014
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Key retirements mean a changing of the guard next year in U.S. Congress

Regardless what voters decide in the November elections, there will be a major changing of the guard next year in the U.S. Congress as result of a number of key retirements.