By Ross Kerber (Reuters) – Top proxy adviser Institutional Shareholder Services on Tuesday recommended investors cast proxy votes against the pay of Wells Fargo & Co Chief Executive Charles Scharf and other leaders, citing concerns about the discretion used to award the pay and lack of disclosures. In a report provided by a representative, ISS…
By Kantaro Komiya TOKYO (Reuters) – Japan’s core machinery orders posted their biggest monthly fall in nearly two years in February, official data showed on Wednesday, dragged down by a steep drop in demand from IT and other service firms to extend their decline into a second month. The data added to concerns that Japanese…
(Reuters) – Profits at Ma Hong’s spicy hotpot restaurant have been squeezed by about a fifth since he opened in downtown Beijing last year, crushed by beef tripe prices that have shot up by more than 50% and the surging costs of other key ingredients. “We sell it at the same price as before. Also…
SYDNEY (Reuters) – A measure of Australian consumer sentiment slipped for a fifth straight month in April as rising inflation and the risk of higher interest rates weighed on family finances and spending intentions. The Westpac-Melbourne Institute index of consumer sentiment released on Wednesday dipped 0.9% in April from March, when it slid 4.2%. The…
OMAHA, Neb. (AP) — Some grain elevators are so full that farmers trying to sell their crops are being turned away. But at the same time, flour and animal-feed mills are halting production because they can’t get the grain they need. The issue? The lack of trains to move the grain. Federal regulators are holding…
(Reuters) – Spotify Technology SA on Tuesday re-branded its live audio-streaming service to Spotify Live and announced a slew of new content by top artists, as it doubles down on the format at a time when virtual events continue to attract audiences. Rolled out in June 2021 as Spotify Greenroom, the service will be available…
By Stephen Culp NEW YORK (Reuters) – Wall Street turned rally to sell-off on Tuesday, reversing earlier gains as impending monetary tightening from the Federal Reserve once again pulled growth stocks back into red territory. All three major U.S. stock indexes turned from positive to negative early in the afternoon, weighed down by healthcare and…
By Jonathan Stempel NEW YORK (Reuters) – Elon Musk was sued on Tuesday by former Twitter Inc shareholders who claim they missed out on the recent run-up in its stock price because he waited too long to disclose a 9.2% stake in the social media company. In a proposed class action filed in Manhattan federal…
ZURICH (Reuters) – Swiss judges will deliver their verdict on Wednesday at the end of a trial of a former top banker and six others that has gripped the nation with allegations of fraudulent deals and huge strip club bills since it began in January. In one of the country’s highest-profile corporate crime trials in…
LONDON (Reuters) – The EMEA Credit Derivatives Determinations Committee (CDDC) on Tuesday accepted a request to address the question of whether a potential failure to pay occurred on Russia’s hard-currency bonds, possibly bringing payout on billions of dollars in default insurance a step closer. Russia made a payment due on April 4 on two sovereign…
