Business

Juniper's Gary Clark joins Tesla as chief information officer

(Reuters) - Gary Clark, a former IT chief technology officer at Juniper Networks Inc <JNPR.N>, joined Tesla Inc <TSLA.O> in February as its chief information officer, according to Clark's LinkedIn profile. Clark succeeds Jay Vijayan, who left the...

Wednesday, March 8, 2017 - 6:52am

Boston restaurants could get a lot more liquor licenses

For most restaurants in Boston, getting a license to sell beer, wine and booze has always come down to one thing: cash — and a lot of it. But for the restaurants without enough scratch, there is hope.Mayor Marty Walsh and City Councilwoman Ayanna Pressley created a plan Monday that would add 152...

Tuesday, March 7, 2017 - 4:49pm

China's ZTE pleads guilty, settles U.S. sanctions case for nearly $900 million

By Karen Freifeld and Sijia Jiang NEW YORK/HONG KONG (Reuters) - Chinese telecom equipment maker ZTE Corp has agreed to plead guilty and pay nearly $900 million in a U.S. sanctions case...

Tuesday, March 7, 2017 - 9:51am

Women make gains in corner office but still lag far behind men, reports show

Canada, the United States and Francehave the highest percentage of women in leadership positions, with an average ofone-third of women holding those roles.Around the world, more and more women are being hired into upper management slots in a variety of fields, according to a recent study by...

Monday, March 6, 2017 - 4:18pm

Wells Fargo names Allen Parker general counsel

(Reuters) - Wells Fargo & Co <WFC.N> named Allen Parker general counsel on Monday, at a time when the third-largest U.S. lender looks to restore its battered reputation following a scandal over phony accounts. Parker succeeds company veteran James...

Monday, March 6, 2017 - 2:34pm

Deutsche Bank to raise 8 billion euros, plans major reorganization

By Arno Schuetze FRANKFURT (Reuters) - Deutsche Bank <DBKGn.DE> plans to raise capital, list its asset management business and overhaul its business structure as it tries to reinvent itself after spending two years dealing with its past misdeeds and huge...

Sunday, March 5, 2017 - 10:45am

UK ramps up skills training to tackle productivity problem

LONDON (Reuters) - Britain plans to spend an extra half a billion pounds a year to improve skills training, the government said on Sunday, seeking to address the country’s nagging productivity problems as it prepares to leave the European Union. Weak...

Saturday, March 4, 2017 - 7:13pm

After Vegas, hot ABS market set to roll on

By Natalie Harrison NEW YORK (IFR) - Structured finance bankers and investors returned to their desks in upbeat mood on Thursday following record attendance at the industry's biggest annual event in Las Vegas. The big talking point at the conference,...

Thursday, March 2, 2017 - 5:14pm

Banks paid $321 billion in fines since financial crisis: BCG

(Reuters) - Banks across the world have paid about $321 billion in fines since the 2007-2008 financial crisis as regulators stepped up scrutiny, according to a note by the Boston Consulting Group. Almost ten years since the financial crisis, the banking industry...

Thursday, March 2, 2017 - 5:14pm

PepsiCo to cut jobs in Philly as sales lose fizz after soda tax

(Reuters) - PepsiCo Inc <PEP.N> said on Wednesday it would cut 80 to 100 jobs in Philadelphia as the city's new sugar-sweetened beverage tax hurts demand for its products. Philadelphia imposed a tax of 1.5 cent per ounce on sugary and diet drinks to combat...

Wednesday, March 1, 2017 - 3:22pm

Barclays hires leveraged finance banker Craig Molson

By Natalie Harrison NEW YORK - Barclays has hired Craig Molson as co-head of natural resources, power and chemicals leveraged finance, based in New York, according to an internal memo seen by IFR. Molson, formerly with Deutsche Bank, will focus on...

Wednesday, March 1, 2017 - 2:18pm

Bridgewater shakes up management again as Dalio drops co-CEO role

By Lawrence Delevingne NEW YORK (Reuters) - The world's largest hedge fund manager, Bridgewater Associates, is once again changing its leadership structure as part of a 10-year transition plan led by founder Ray Dalio. Dalio, a billionaire with...

Wednesday, March 1, 2017 - 11:03am

Inflation rebound may allow end to Czech crown cap sooner rather than later

By Jason Hovet PRAGUE (Reuters) - Investors betting billions of euros that the Czech central bank may end its policy of keeping the crown weak as soon as next month believe rebounding inflation may give the bank cover to let the currency rise again -- and sooner...

Wednesday, March 1, 2017 - 9:52am

SEC freezes assets in SoftBank-Fortress insider trading probe

By Jonathan Stempel WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission said on Wednesday it froze the assets of certain traders in a suspected insider trading scheme involving more than $3.6 million in profits related to the takeover Fortress...

Wednesday, March 1, 2017 - 9:07am

Shares of Hongqiao, China's top aluminum producer, sink after report

BEIJING (Reuters) - Shares in Hongqiao Group Ltd <1378.HK> sank on Wednesday as much as 8 percent, their worst day in 18 months, and trading was halted after a research firm published a report alleging the company underreported its costs. In a report dated Feb...

Wednesday, March 1, 2017 - 4:41am

U.S. pull-out from Pacific trade deal hurts confidence, Singapore PM tells BBC

SINGAPORE (Reuters) - The United States' pull-out from the Trans Pacific Partnership hurt confidence in American policies, Singapore's Prime Minister Lee Hsien Loong said, urging Washington to "focus" on its relationship with China. In an interview with the BBC...

Wednesday, March 1, 2017 - 1:14am

Snap tops expectations in pricing of long-awaited IPO

By Lauren Hirsch (Reuters) - Snap Inc priced its initial public offering above its target range on Wednesday, raising $3.4 billion as investors set aside concerns about its lack of profits and voting rights for a piece of the hottest...

Wednesday, March 1, 2017 - 1:02am

China to reallocate 500,000 coal and steel workers in 2017: labor minister

BEIJING (Reuters) - China needs to reallocate half a million steel and coal workers in 2017 due to capacity cuts in these industries, China's labor minister said on Wednesday, as the world's second-largest economy tries to combat excess in the bloated industries...

Wednesday, March 1, 2017 - 12:52am

Macau signals rebound as gambling revenues hit 2-year high in February

By Farah Master HONG KONG (Reuters) - Macau's gambling revenue rose for a seventh month and hit a two-year high in February, in the strongest signal yet the casino hub was firmly on its path to recovery from a slump triggered by China's anti-...

Wednesday, March 1, 2017 - 12:47am

Japan will tell United States to respect WTO rules: PM Abe adviser

By Stanley White and Izumi Nakagawa TOKYO (Reuters) - Japan will tell the United States in their economic talks that any border tax the U.S. government imposes on imports should not break World Trade Organization rules, an adviser to Prime Minister Shinzo Abe...

Tuesday, February 28, 2017 - 11:58pm