Business News

  • Ex-Fox anchor's doctor backs sexual harassment claims against Ailes

    An ex-Fox News anchor told her therapist that former network chairman Roger Ailes sexually harassed her, two years before she went public with the allegations that the company said she made up, a document filed in court on Wednesday said. Lawyers for Andrea Tantaros filed a statement in New York…

    Reuters
  • Porsche to lure younger buyers with restyled Panamera

    Porsche said it will be targeting younger buyers with a new model of its redesigned Panamera sedan, as the sports carmaker continues to branch out from its racing roots. Volkswagen (VOWG_p.DE)-owned Porsche, traditionally known for high-performance two-door sports cars, said it will offer the…

    Reuters
  • DMAX to make new engine for GM

    General Motors announced Thursday morning a new engine would be produced at the DMAX plant in Moraine. GM asaid the new Duramax 6.6L turbo-diesel engine would be produced in Moriane from DMAX Ltd., the company's joint venture with Isuzu. The newest product from the auto giant will be featured in…

    Dayton Business Journal
  • Nutanix exceeds expectations in upsized IPO

    San Jose, California-based Nutanix's share price exceeds the $13.40 value last placed on its shares in a 2014 funding round, an upgrade encouraging for the many unprofitable technology companies that, like Nutanix, have been weary of testing public market valuations. Its $16 IPO price was above its…

    Reuters
  • U.S. Seeks Joint Settlement of Banks’ Mortgage Claims, FT Says

    The U.S. Department of Justice hopes to agree a combined settlement with Deutsche Bank AG, Barclays Plc and Credit Suisse Group AG, extracting multibillion dollar fines from the three European banks for ...

    Bloomberg
  • AB InBev to pay SEC $6 million to settle bribery charges

    Story clarifies in paragraph 5 that joint venture managed Crown Beer distribution. Anheuser-Busch InBev S.A., the world's largest brewer, has agreed to pay $6 million to settle charges that it had violated U.S. foreign bribery laws and "chilled a whistleblower," the U.S. Securities and Exchange…

    Reuters
  • Wells Fargo (WFC) Suspended by California from Underwriting

    Following the sales scam, concerns have again been raised for Wells Fargo & Company (WFC) as John Chiang, California's State Treasurer, mentioned that the bank would be suspended from participating in any banking transactions with the State.

    Zacks
  • Cognizant says conducting corruption probe; president replaced

    The company also said President Gordon Coburn had resigned and would be replaced by Rajeev Mehta, the head of IT services. Cognizant, which gave no reason for Coburn's departure, did not respond to a query on whether it was linked to the probe.

    Reuters55 mins ago
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    India is moving in the right direction: IMA Asia

    Narendra Modi's economic reforms have put India on the right path of gradual growth, says IMA Asia's Richard Martin.

    CNBC Videos
  • Cornell Endowment Posts 3.3% Loss, Worst Among Ivies So Far

    Cornell University’s endowment posted an investment loss of 3.3 percent, the worst among Ivy League schools that have reported their annual results.  To try to boost performance, the school plans to move ...

    Bloomberg
  • Citi Boosts Q4 iPhone Estimate From 73 Million To 79 Million Units

    Citi’s checks suggest that there are early indications of strong iPhone 7 demand across stores in the U.S., Canada, Europe and Asia. Citi’s Jim Suva maintained a Buy rating on Apple Inc. (NASDAQ: AAPL ...

    Benzinga
  • 'Star Trek' Lawsuit Heats Up As Fan Co. Seeks Paramount's J.J. Abrams, Justin Lin Communications

    Abrams, an executive producer on 'Star Trek Beyond,' could find himself in an uncomfortable position thanks to what he said about the lawsuit a few months ago.

    The Hollywood Reporter
  • Fidelity Contrafund continues to slash stake in struggling Chipotle

    BOSTON (Reuters) - Fidelity's Contrafund , the largest mutual fund investor in Chipotle Mexican Grill Inc , cut its stake in the struggling burrito chain by 19 percent in August, Fidelity disclosed on Friday.

    Reuters
  • The US economy was stronger last quarter than we first thought

    The US economy grew by 1.4% in the second quarter, according to the Commerce Department's...

    Business Insider
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    Street Talk: SKX, WMT & more

    "Power Lunch" hosts Melissa Lee and Brian Sullivan look at 4 stocks with analyst recommendations, including Skechers and Wal-Mart.

    CNBC Videos
  • Credit Agricole set to boost shipping provisions as sector gloom deepens

    Credit Agricole CIB, which has a shipping portfolio worth $15 billion, is likely to set aside extra provisions this year to cover potential losses after the sharp downturn in the industry, a senior official at bank said. Thibaud Escoffier, head of shipping and offshore finance at the lender's…

    Reuters
  • Moneta Drops Most in Three Months as GE Sells Shares at Discount

    Moneta Money Bank AS fell the most in three months after General Electric Co. sold almost a quarter stake in the Czech lender at a discount to the market price.

    Bloomberg
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    Sechan: I see profits accelerating in Q4

    Rob Sechan, UBS managing director, discusses his expectations for the last quarter of the year.

    CNBC Videos