(Reuters) – Canada’s Brookfield Asset Management Inc is looking to raise $25 billion for its fifth flagship infrastructure fund, Bloomberg News reported on Friday. Brookfield has already started marketing the fund and may exceed the target, according to the report, which cited a person familiar with the matter. A company spokesperson declined to comment. Brookfield…
WASHINGTON (AP) — The Federal Reserve on Friday formally adopted sweeping new rules that will limit the ability of its top officials to invest in financial markets, a change intended to prevent conflicts of interest involving investments affected by Fed policies. The stricter rules were developed after an outcry last year over questionable trades that…
By Nia Williams CALGARY, Alberta (Reuters) -Canada said on Friday it will halt any further public funding for the Trans Mountain oil pipeline expansion, after the government-owned company behind the project said costs had surged 70% to C$21.4 billion ($16.8 billion). Trans Mountain Corp (TMC) also delayed the finish date of the expansion by a…
By Jonathan Stempel NEW YORK (Reuters) – A new U.S. lawsuit filed on Friday accuses L’Oreal SA of causing American shoppers to overpay for its beauty products by misleading them into thinking they are actually made in France. Veronica Eshelby, the plaintiff in the proposed class action, said L’Oreal’s labeling its products “L’Oreal Paris” and…
WASHINGTON (AP) — Federal judges would have to publicly disclose more about their finances under a bill approved by the Senate this week, which aims to make the judiciary subject to similar transparency requirements as lawmakers. The bipartisan bill by Sens. John Cornyn, R-Texas, and Chris Coons, D-Del., is intended to make it easier for…
By Herbert Lash NEW YORK (Reuters) -A gauge of global stocks fell and government debt prices rose on Friday after hopes that diplomacy might resolve the Ukraine crisis faded on news Russian-backed separatists were evacuating residents from breakaway regions in the country’s east. Sentiment soured as shelling increased in eastern Ukraine and a rebel leader…
Leave it to Elon Musk to stir up controversy without saying — or tweeting — a word. In November, according to a regulatory filling, the Tesla CEO donated to charity about 5 million shares of company stock, worth $5.7 billion. Since the filing with the Securities and Exchange Commission was made public Monday, Tesla hasn’t…
By Susan Mathew and Noel Randewich (Reuters) – Wall Street’s main stock indexes ended lower on Friday as escalating tensions in Ukraine and U.S. statements of an imminent Russian invasion prompted investors to dump risky assets in the run-up to a long weekend. The Nasdaq fell sharply, pulled lower by declines in high-growth stocks, including…
PHOENIX (AP) — An Arizona bill to prohibit government agencies from contracting with firms that refuse to do business with firearms companies received strong support this week from majority Republicans on a state House committee but generated tough criticism from the banking industry. The proposal from GOP Rep. Frank Carroll would require companies doing business…
MacKenzie Scott, who has given at least $8 billion in the past two years to mostly small nonprofits that serve people in need, used to release posts on Medium about her gifts and who got them. Then Scott stopped naming names. She announced in December that more focus should be on the nonprofits. “I want…
