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  • The Goldman Sachs logo is displayed on a post above the floor of the New York Stock Exchange
    For Goldman Sachs and Morgan Stanley, boring is beautiful

    Investment banks Morgan Stanley and Goldman Sachs Group Inc posted better-than-expected quarterly earnings on Thursday, helped by gains in merger advisory and stock underwriting. The results underscored …

    The Goldman Sachs logo is displayed on a post above the floor of the New York Stock Exchange

    Investment banks Morgan Stanley and Goldman Sachs Group Inc posted better-than-expected quarterly earnings on Thursday, helped by gains in merger advisory and stock underwriting. The results underscored how businesses viewed as stodgy before the financial crisis are becoming critical drivers of earnings growth for investment …

  • U.S. jobless claims rise less than expected

    By Lucia Mutikani WASHINGTON (Reuters) - New applications for unemployment benefits held near their pre-recession levels last week and factory activity in the Mid-Atlantic region accelerated in April, …

    Corporate recruiters gesture and shake hands as they talk with job seekers at a Hire Our Heroes job fair targeting unemployed military veterans and sponsored by the Cable Show, a cable television industry trade show in Washington

    By Lucia Mutikani WASHINGTON (Reuters) - New applications for unemployment benefits held near their pre-recession levels last week and factory activity in the Mid-Atlantic region accelerated in April, painting a bright picture of the economy. The economy is regaining its footing after a brutally cold winter and is back …

  • Mattel posts first quarterly loss in five years as Barbie sales fall

    Mattel Inc , the world's largest toymaker, reported its first quarterly net loss in nearly five years due to a double-digit fall in sales of its iconic Barbie dolls, sending the company's shares down as …

    Barbie dolls are displayed inside a showroom at a Mattel office in Hong Kong

    Mattel Inc , the world's largest toymaker, reported its first quarterly net loss in nearly five years due to a double-digit fall in sales of its iconic Barbie dolls, sending the company's shares down as much as 3 percent in early trading. Mattel's worldwide sales fell 5 percent to $946.2 million in the quarter ended March …

  • Barclays reorganizes management of investment bank

    Barclays announced a number of promotions in its investment bank's management on Friday as it continues a review of the division that contributes about half of group profit. The British lender said in …

    A logo hangs outside a branch of Barclays bank in London

    Barclays announced a number of promotions in its investment bank's management on Friday as it continues a review of the division that contributes about half of group profit. The British lender said in a statement that it had appointed Eric Felder as head of markets, supervising the investment bank's global sales and trading …

  • Exclusive: U.S. weighs $5 million fine against ex-MoneyGram compliance chief

    By Brett Wolf ST. LOUIS (Reuters) - The U.S. Treasury Department has notified a former compliance chief at MoneyGram International Inc that he may face a fine of up to $5 million over the money transfer …

    By Brett Wolf ST. LOUIS (Reuters) - The U.S. Treasury Department has notified a former compliance chief at MoneyGram International Inc that he may face a fine of up to $5 million over the money transfer giant's previously admitted failures to properly police transactions for illicit activity, sources familiar with the …

  • GSK, facing bribery claims, battles to build new sales model

    Following a decision to cut commercial ties with outside doctors, GSK expects to increase its in-house team of physicians by 10-20 percent over the next year or so from around 1,500 at present, Chief Medical …

    The GlaxoSmithKline building is pictured in Hounslow, west London

    Following a decision to cut commercial ties with outside doctors, GSK expects to increase its in-house team of physicians by 10-20 percent over the next year or so from around 1,500 at present, Chief Medical Officer James Shannon told Reuters. GSK is now investigating claims that bribes were paid to doctors in Poland, …

  • German, Japanese carmakers cash in on Korea-U.S. trade deal: data

    By Hyunjoo Jin SEOUL (Reuters) - Japanese and German automakers are benefiting more than their U.S. peers from a free trade deal between Washington and Seoul, according to import figures suggesting U.S. …

    By Hyunjoo Jin SEOUL (Reuters) - Japanese and German automakers are benefiting more than their U.S. peers from a free trade deal between Washington and Seoul, according to import figures suggesting U.S. brands are not reaping the rewards they may have expected from the pact. U.S. automakers are battling a perception that …

  • Chinese auto brands losing ground to aggressive global rivals

    BEIJING, China - China's automakers are the underdogs heading into next week's Beijing auto show, where foreign and domestic brands will jostle for attention in a market that is increasingly difficult …

    Chinese auto brands losing ground to aggressive global rivals

    BEIJING, China - China's automakers are the underdogs heading into next week's Beijing auto show, where foreign and domestic brands will jostle for attention in a market that is increasingly difficult ...

  • China economy stronger than data suggests: government

    By Aileen Wang and Adam Rose BEIJING (Reuters) - China's economy is doing better than official data suggests, the Commerce Ministry said a day after figures showed growth at an 18-month low, adding that …

    A man fishes next to a lake with the reflection of newly-built residential buildings at a park in Shenyang

    By Aileen Wang and Adam Rose BEIJING (Reuters) - China's economy is doing better than official data suggests, the Commerce Ministry said a day after figures showed growth at an 18-month low, adding that targets for exports and imports this year should be met despite some caution over the trade outlook. Ministry spokesman …

  • Citi received mixed signals from the Fed on 'stress test': WSJ

    (Reuters) - The Federal Reserve indicated to Citigroup Inc that the bank would get more time to fix certain "stress test" planning problems before rejecting its capital plan last month, the Wall Street …

    A Citibank sign on bank branch in midtown Manhattan in New York

    (Reuters) - The Federal Reserve indicated to Citigroup Inc that the bank would get more time to fix certain "stress test" planning problems before rejecting its capital plan last month, the Wall Street Journal reported, citing people close to the company. The Fed had agreed to give Citigroup a 2015 deadline to address …

  • GM faced a Cadillac ignition switch issue in 2006

    By Paul Lienert and Eric Beech DETROIT/WASHINGTON (Reuters) - General Motors engineers reported accidentally turning off ignition switches in a Cadillac SRX with their knees more than eight years ago, …

    The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit

    By Paul Lienert and Eric Beech DETROIT/WASHINGTON (Reuters) - General Motors engineers reported accidentally turning off ignition switches in a Cadillac SRX with their knees more than eight years ago, and they ordered a similar fix to a similar problem in smaller, cheaper cars linked to 13 deaths, according to documents …

  • Canadians bid farewell to Jim Flaherty, former finance minister

    By Cameron French TORONTO (Reuters) - Canada's political elite and hundreds of well-wishers paid final respects to former Finance Minister Jim Flaherty at a state funeral on Wednesday, with Prime Minister …

    Canada's Finance Minister Flaherty speaks during Question Period in the House of Commons on Parliament Hill in Ottawa

    By Cameron French TORONTO (Reuters) - Canada's political elite and hundreds of well-wishers paid final respects to former Finance Minister Jim Flaherty at a state funeral on Wednesday, with Prime Minister Stephen Harper depicting Flaherty as a man who put his own needs aside in the service of his country. Flaherty's death …

  • Former Bridgestone exec to plead guilty to price fixing: U.S. Justice Dept

    A former sales manager for Bridgestone Corp <5108.T> has agreed to plead guilty and serve 18 months in prison for participating in a conspiracy to fix the prices of rubber anti-vibration devices used in …

    Pedestrians are reflected in a signboard of Bridgestone Corp. at its headquarters in Tokyo

    A former sales manager for Bridgestone Corp <5108.T> has agreed to plead guilty and serve 18 months in prison for participating in a conspiracy to fix the prices of rubber anti-vibration devices used in automotive suspension systems and engine mounts, the Justice Department said on Wednesday. In a separate action involving …

  • ADVISORY: ‘Bank of America in talks with US on probe of Merrill' is withdrawn

    The information reported in the story "Bank of America in talks with US on probe of Merrill" was previously disclosed in a filing by Bank of America.

    People use an ATM at a Bank of America's branch in New York

    The information reported in the story "Bank of America in talks with US on probe of Merrill" was previously disclosed in a filing by Bank of America.

  • U.S. industry shows some vigor, but housing soft

    By Lucia Mutikani WASHINGTON (Reuters) - U.S. industrial production rose at a faster-than-expected clip in March, the latest sign the economy was gaining momentum. Groundbreaking for new homes also increased …

    Workers install a roof on a multi-family building in Broomfield

    By Lucia Mutikani WASHINGTON (Reuters) - U.S. industrial production rose at a faster-than-expected clip in March, the latest sign the economy was gaining momentum. Groundbreaking for new homes also increased but remained well below the post-recession peak hit in November, signaling the drag the housing market is placing …

  • Yamana, Agnico reach C$3.9 billion deal with Osisko to thwart Goldcorp takeover bid

    By Allison Martell and Euan Rocha TORONTO (Reuters) - Canada's Osisko Mining Corp said on Wednesday it has reached a C$3.9 billion ($3.6 billion) deal to sell most of its assets to Yamana Gold Inc and …

    By Allison Martell and Euan Rocha TORONTO (Reuters) - Canada's Osisko Mining Corp said on Wednesday it has reached a C$3.9 billion ($3.6 billion) deal to sell most of its assets to Yamana Gold Inc and Agnico Eagle Mines Ltd as it battles to thwart a hostile takeover bid from Goldcorp Inc , one of the world's biggest gold …

  • China's growth slows to 7.4 per cent in Q1, raising risk of job losses

    BEIJING, China - China's economic growth slowed further in the latest quarter but appeared strong enough to satisfy Chinese leaders who are trying to put the country on a more sustainable path without …

    China's growth slows to 7.4 per cent in Q1, raising risk of job losses

    BEIJING, China - China's economic growth slowed further in the latest quarter but appeared strong enough to satisfy Chinese leaders who are trying to put the country on a more sustainable path without ...

  • Defunct bitcoin exchange Mt. Gox files for liquidation: report

    Mt. Gox, once the world's biggest bitcoin exchange, is likely to be liquidated after a Tokyo court dismissed the company's bid to resuscitate its business, the court-appointed administrator said on Wednesday. …

    Mark Karpeles, chief executive of Mt. Gox, attends a news conference at the Tokyo District Court in Tokyo

    Mt. Gox, once the world's biggest bitcoin exchange, is likely to be liquidated after a Tokyo court dismissed the company's bid to resuscitate its business, the court-appointed administrator said on Wednesday. CEO Mark Karpeles is also likely to be investigated for liability in the collapse of the Tokyo-based firm, the …

  • GM to seek court protection against ignition lawsuits

    GM has said it is protected from liability for claims related to incidents that occurred before it exited bankruptcy in 2009, and has taken steps to raise those issues with the court by filing motions …

    A man walks past a row of General Motors vehicles at a Chevrolet dealership on Woodward Avenue in Detroit, Michigan

    GM has said it is protected from liability for claims related to incidents that occurred before it exited bankruptcy in 2009, and has taken steps to raise those issues with the court by filing motions to stay recall-related lawsuits while it asks that bankruptcy court to clarify the extent of that protection. In a filing …

  • Global shares up on China relief, Ukraine strains remain

    By Marc Jones LONDON (Reuters) - Share markets made broad gains on Wednesday after China reported economic growth a touch above forecasts, a relief for investors who had feared a much weaker outcome. …

    A man smokes a cigarette outside The London Stock Exchange

    By Marc Jones LONDON (Reuters) - Share markets made broad gains on Wednesday after China reported economic growth a touch above forecasts, a relief for investors who had feared a much weaker outcome. China's economy grew 7.4 percent in the first quarter, from a year earlier, pipping forecasts of 7.3 percent. The relief …