HSBC is to streamline its wealth management business, retreat from retail banking in some countries and may sell its U.S. credit cards arm as new CEO Stuart Gulliver attempts to cut $3.5 billion in costs and revive flagging profits.
Facebook users' personal information could have been accidentally leaked to third parties, in particular advertisers, over the past few years, Symantec Corp said in its official blog.
Tokyo Electric Power Co likely made a net loss of more than 1 trillion yen ($12.4 billion) in the year that ended on March 31, the biggest ever for a non-financial Japanese firm, after booking costs to scrap nuclear reactors and writing off tax assets, the Nikkei newspaper said.
HSBC Holdings Plc is reviewing its U.S. cards business and streamlining its wealth management and retail banking operations as it eyes savings of up to $3.5 billion, Europe's biggest bank said on Wednesday.
HSBC Holdings Plc <0005.HK>, Europe's biggest bank, is looking to slash up to $3.5 billion in costs by cutting the scale of its wealth management and retail banking businesses, it said on Wednesday.
China's inflation eased a touch to 5.3 percent in the year to April from a 32-month high of 5.4 percent in March but was still higher than expected, keeping the door open for more tightening steps.
Skype's owners, led by private equity firm Silver Lake, are set to earn more than three times their investment, for a total capital gain of more than $5 billion, on the sale of Skype to Microsoft Corp, a source familiar with the situation said.
Major banks are willing to pay as much as $5 billion to settle claims by federal and state officials of improper mortgage foreclosure practices, the Wall Street Journal reported, citing people familiar with the situation.
Democratic Senators introduced a bill on Tuesday that would repeal tax breaks enjoyed by the five biggest oil companies, freeing up $21 billion over a decade to ease the budget deficit.
Skype's owners, led by private equity firm Silver Lake, will make more than three times their investment - a total capital gain of more than $5 billion - on sale of the company to Microsoft Corp, a source familiar with the deal said on Tuesday.
The Treasury is expected to sell about 15 percent of its stake in American International Group
in a share sale later this month, a source familiar with the situation told Reuters on Tuesday.In what has become a familiar ritual over the past two weeks, jurors in the insider trading trial of hedge fund manager Raj Rajaratnam told the judge they needed more time to weigh the evidence.
Influential investment veteran Jim Rogers said on Tuesday he plans to short U.S. Treasuries, maybe as soon as later in the day, as he expects the end of the Federal Reserve's quantitative easing program to pressure government bonds.
American International Group Inc
and the Treasury are considering whether to drop or scale back a large public offering of AIG shares, because of the recent decline in the bailed-out insurer's share price, Financial Times reported on Tuesday, citing people close to situation.Democratic U.S. Senators introduced a bill on Tuesday that would repeal tax breaks enjoyed by the five biggest oil companies, freeing up $21 billion over a decade to ease budget deficits.
Warner Music Group, which is being bought by billionaire Len Blavatnik's Access Industries, reported a narrower-than-expected quarterly loss, helped by a 9 percent jump in digital revenue.
Governments, or nowadays central banks, are traditionally the largest holders of gold. And for most of the past two decades, central banks have been net sellers of gold. But since 2010, central banks are net buyers again, because central banks of emerging market economies are aiming to diversify their ever growing currency reserves and reach a similar level in gold reserves as the club of old industrial economies.
Nasdaq OMX Group Chief Executive Robert Greifeld, unbowed after NYSE Euronext twice rejected his takeover offer, is pressing forward with a hostile bid for the Big Board parent, promising to launch a tender offer within weeks.
The top U.S. securities regulator pledged a rigorous review of potentially outdated private securities trading rules, but stopped short of endorsing changes being advocated by Republican lawmakers.
General Motors Co said on Tuesday it will invest about $2 billion in 17 U.S. plants, including one here that makes transmissions for small cars, as the automaker shifts from recovery mode to investing in future products.
Stocks rose for a third day on Tuesday, led by utilities and other defensive sectors that may drive further gains as investors bet on profit growth and set aside concerns about weakening demand.
JPMorgan Chase & Co urged a bankruptcy court on Tuesday to throw out Lehman Brothers Holdings' claim demanding that it hand over $8.6 billion in cash taken as collateral in the weeks before Lehman imploded in September 2008.
Stocks rose for a third day on Tuesday, led by utilities and other defensive sectors that may drive further gains as investors bet on profit growth and set aside concerns about weakening demand.
Sony Corp said it would take at least a few more days to restore service to its online PlayStation Network, which was breached by hackers in one of the largest Internet break-ins of all time.
China on Tuesday pledged to make it easier for U.S. companies to win Chinese government contracts, addressing a long-standing complaint of foreign corporations seeking a piece of the fast-growing market.
The cost of imported products in the United States rose for a seventh straight month in April thanks to a weaker dollar, and more owners of small businesses raised prices, in potentially worrying signs of inflation.
If you have a couple million dollars to spare and a taste for steak, Warren Buffett is looking for lunch companions.
U.S. import prices rose at a slower pace in April as petroleum and food cost increases moderated, while a jump in wholesale inventories during March suggested a weak first quarter ended on a firmer note.
Microsoft snubbed investment banks for its largest deal ever, saving an estimated $25 million to $30 million by not using an adviser on the $8.5 billion takeover of Internet phone service Skype.
Euro zone finance ministers are likely to back a bailout for Portugal on Monday and tell Greece it must deliver on agreed fiscal and privatization targets if it wants new emergency financing next year.
