Standard & Poor’s reached a $125 million lawsuit settlement with the largest U.S. state pension fund over inflated ratings on residential-mortgage bond deals, two people familiar with the matter said.
Tesco is to give more than £2m to its former chief executive and finance director after being told it had no legal grounds to continue withholding the payouts.
The Oil and gas company BG Group has become the latest corporate casualty of the oil price slump, writing down the value of its assets by £6bn and sharply cutting back on spending plans.
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Nomura is retreating from U.S. investment-grade corporate credit trading after last year’s bout of volatility in fixed-income markets, according to two people with knowledge of the decision.
News Corp and 21st Century Fox will not face charges in the U.S. over payments to officials or phone hacking, the U.S. Department of Justice has said.
BP has crashed to a $1bn loss in the final quarter of the year as low oil prices and more writedowns hammered its results.
Cadbury has again risked public outrage by announcing that it will be shrinking the size of its chocolate bars by 10% – without reducing the price.
Companies are predicting not robust times ahead but rather tepid profit growth, with a cornerstone being a drop, not a rise, in capex.
Nomura expects about $600m to $700m of annual cost savings from restructuring its European equities business and cutting jobs there and in the Americas, according to people with knowledge of the matter.
Deutsche Bank’s mounting legal costs led to open conflict on the supervisory board, with the deputy chairman publicly criticizing another member, Georg Thoma, for going too far in probing potential wrongdoing.
Bank of America Merrill Lynch has promoted Luigi Rizzo to head of investment banking for Europe, Middle East and Africa (EMEA), according to a memo sent on Monday.