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Silicon Valley veteran Bill Campbell dies
Campbell was chief executive of tax software maker Intuit Inc from 1994 to 1998 and again for a few months until January 2000. “He helped us build Google and in countless ways made our success possible,” Eric Schmidt, executive chairman of Alphabet Inc, said in a post. Here is the original: Silicon Valley veteran Bill Campbell dies Read More →
Fiat Chrysler CEO says can build Tesla Model 3 rival if makes business sense
Fiat Chrysler Automobiles (FCA) could build an Italian-style rival to Tesla's Model 3 within 12 months if the electric carmaker can prove the vehicle makes business sense, FCA Chief Executive Sergio Marchionne said on Friday. Tesla said last week it had received more than 325,000 orders for its new Model 3 sedan in the first week of bookings, although there is no certainty it will be … See... [Read more]
SunEdison says in talks for potential bankruptcy financing
SunEdison, which is widely expected to file for bankruptcy soon, said it needed about $310 million to stay in business, estimating a cash shortfall of $260 million by mid-June. SunEdison said it expected to secure The rest is here: SunEdison says in talks for potential bankruptcy financing Read More →
Fiat Chrysler CEO sees only Toyota, VW, Ford as merger candidates
By Agnieszka Flak AMSTERDAM (Reuters) – Toyota , Volkswagen and Ford are the only remaining potential merger candidates for Fiat Chrysler , since its attempt to join up with GM was rebuffed, Chief Executive Sergio Marchionne said on Friday. Marchionne has long called for mergers of big players in … Read more: Fiat Chrysler CEO sees only Toyota, VW, Ford as merger candidates Read More →
Two Fed bank presidents backed rate hike ahead of last meeting
The heads of two regional Federal Reserve banks supported a rate hike ahead of the Fed's March meeting as an improving economy added to sentiment to tighten monetary policy. The heads of the Richmond and Kansas City Fed branches supported a quarter point hike in the main lending rates for banks “in light of continued improvements in labor market conditions and expectations that inflation... [Read more]
Bill Gross sees one or two Fed rate hikes in 2016: Barron’s
(Reuters) – Bond manager Bill Gross predicts that the U.S. Federal Reserve will raise interest rates once or twice in 2016, according to an interview in Barron's. Excerpt from: Bill Gross sees one or two Fed rate hikes in 2016: Barron’s Read More →
Wells Fargo admits deception in $1.2 billion U.S. mortgage accord
The settlement with Wells Fargo, the largest U.S. mortgage lender and third-largest U.S. bank by assets, was filed on Friday in Manhattan federal court. It also resolves claims against Kurt Lofrano, a former Wells Fargo vice president. Here is the original post: Wells Fargo admits deception in $1.2 billion U.S. mortgage accord Read More →
Fiat Chrysler cuts 1,300 workers in Michigan, scraps shift
Fiat Chrysler Automobiles said on Wednesday it is laying off about 1,300 workers indefinitely and ending one of the two shifts at its Sterling Heights, Michigan plant that makes the slow-selling midsize Chrysler 200 sedan. U.S. sales of the Chrysler 200 were down 63 percent in the first three months of this year from a year earlier, as FCA has de-emphasized sales of the model which had been often... [Read more]
U.S. sues to block Halliburton-Baker Hughes deal, says anti-competitive
By Diane Bartz and Terry Wade WASHINGTON/HOUSTON (Reuters) – The U.S. government filed a lawsuit on Wednesday to stop Halliburton Co from buying Baker Hughes Inc , arguing the combination of the No. 2 and No. 3 oil services… Read the rest here: U.S. sues to block Halliburton-Baker Hughes deal, says anti-competitive Read More →
Shareholder group fights pay package for Baer’s Collardi, again
Julius Baer Chief Executive Officer Boris Collardi's 6.16 million-Swiss franc ($6.44 million) pay package has hit resistance, with a shareholder group announcing it will oppose the compensation at the April 13 annual general meeting. Actares, also known as Association of Shareholders for Sustainable Business, published its recommendation against Collardi's 2015 pay on its website on Friday.... [Read more]