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  • CIBC says CEO McCaughey to retire in 2016, no successor named

    By Cameron French TORONTO (Reuters) - Canadian Imperial Bank of Commerce said on Thursday that Chief Executive Officer Gerry McCaughey will retire in two years, the latest in a series of leadership changes …

    By Cameron French TORONTO (Reuters) - Canadian Imperial Bank of Commerce said on Thursday that Chief Executive Officer Gerry McCaughey will retire in two years, the latest in a series of leadership changes at Canada's top lenders. Toronto-based CIBC, Canada's fifth-largest bank, said McCaughey, 57, will step down on April …

  • Glass Lewis backs Sherritt in its battle with activist

    Sherritt International Corp received another boost in its battle with activist investor George Armoyan on Thursday when a second major proxy advisory firm advised shareholders not to back a slate of director …

    Sherritt International Corp received another boost in its battle with activist investor George Armoyan on Thursday when a second major proxy advisory firm advised shareholders not to back a slate of director nominees put forward by Armoyan. The endorsement from proxy advisory firm Glass Lewis is the second major endorsement …

  • 1 year after horrific garment factory collapse, Bangladeshi workers skeptical of promises

    SAVAR, Bangladesh - One year after the Rana Plaza garment factory collapsed in a pile of concrete slabs and twisted metal, Bangladeshi seamstress Shefali says she would rather starve to death than return …

    Compensation demands ‘still to be met’ one year on from Bangladesh factory collapse

    SAVAR, Bangladesh - One year after the Rana Plaza garment factory collapsed in a pile of concrete slabs and twisted metal, Bangladeshi seamstress Shefali says she would rather starve to death than return ...

  • Barclays chairman defends staff bonuses as Standard Life leads shareholder protests

    By Steve Slater and Matt Scuffham LONDON (Reuters) - Barclays Chairman David Walker defended pay levels at the bank on Thursday, telling shareholders that it needed to raise bonuses to stop an exodus …

    By Steve Slater and Matt Scuffham LONDON (Reuters) - Barclays Chairman David Walker defended pay levels at the bank on Thursday, telling shareholders that it needed to raise bonuses to stop an exodus of senior executives. Speaking at Barclay's annual general meeting - at which a significant minority of investors led by …

  • ‘The right book at the right time’: Why a 700-page economics tome is #1 on Amazon

    James Pethokoukis, money & politics columnist-blogger at AEI, discusses the popularity of Thomas Piketty's "Capital in the Twenty-First Century," the number one best-selling book now on Amazon.com.

    Piketty's "Capital in the Twenty-First Century" is the "right book at the right time" even if you don't agree with it: James Pethokoukis

    James Pethokoukis, money & politics columnist-blogger at AEI, discusses the popularity of Thomas Piketty's "Capital in the Twenty-First Century," the number one best-selling book now on Amazon.com.

  • Exclusive: Three employees at Marubeni's grain unit in China detained

    By James Topham and Niu Shuping TOKYO/BEIJING (Reuters) - Three employees at one of Marubeni Corp's <8002.T> grain trading unit in China have been detained, Chinese customs said on Thursday, a move prompted …

    A receptionist works in front of the logo of Japanese trading house Marubeni Corp in Tokyo

    By James Topham and Niu Shuping TOKYO/BEIJING (Reuters) - Three employees at one of Marubeni Corp's <8002.T> grain trading unit in China have been detained, Chinese customs said on Thursday, a move prompted by allegations of tax evasion on soybean imports. The three local staff worked at a Chinese unit of Marubeni's Columbia …

  • Tokyo Court orders bankruptcy trustee to begin Mt. Gox liquidation

    Tokyo District Court ordered liquidation to begin at failed bitcoin exchange Mt. Gox, the company said on Thursday, after the bankruptcy administrator said on April 16 that it would be difficult to rehabilitate …

    Burges, a self-styled cryptocurrency trader and former software engineer from London, holds a placard to protest against Mt. Gox in Tokyo

    Tokyo District Court ordered liquidation to begin at failed bitcoin exchange Mt. Gox, the company said on Thursday, after the bankruptcy administrator said on April 16 that it would be difficult to rehabilitate the firm. Mt. Gox, once the largest bitcoin exchange in the world, filed for bankruptcy protection on February …

  • Indonesia smartphone sales could fall 50 pct under tax plan -association

    By Fathiya Dahrul and Randy Fabi JAKARTA (Reuters) - The Indonesian representatives of Apple Inc, Samsung Electronics Co Ltd and other members of a local industry group said smartphone sales could fall …

    Women listen as a Samsung employee provides instructions on using their new Galaxy smartphones in Jakarta

    By Fathiya Dahrul and Randy Fabi JAKARTA (Reuters) - The Indonesian representatives of Apple Inc, Samsung Electronics Co Ltd and other members of a local industry group said smartphone sales could fall by as much as 50 percent if the government imposes a tax on luxury models. The government is considering a 20 percent …

  • Buffett: moving oil by rail safely major industry concern

    By Luciana Lopez NEW YORK (Reuters) - Warren Buffett, chairman of conglomerate Berkshire Hathaway, said on Wednesday that safety is a major priority for the rail industry, after a recent spate of accidents …

    Buffett, co-chair of the 10,000 Small Businesses Advisory Council, takes part in a panel discussion in Detroit, Michigan

    By Luciana Lopez NEW YORK (Reuters) - Warren Buffett, chairman of conglomerate Berkshire Hathaway, said on Wednesday that safety is a major priority for the rail industry, after a recent spate of accidents raised concerns about how to transport oil safely. He added that the delay in the construction of the Keystone pipeline …

  • Qualcomm faces China bribery allegations from U.S. regulator

    By Noel Randewich SAN FRANCISCO (Reuters) - Leading mobile chipmaker Qualcomm said on Wednesday it could face a civil action from U.S. authorities over alleged bribery of officials associated with state-owned …

    A Qualcomm sign is seen at one of Qualcomm's numerous buildings located on its San Diego Campus

    By Noel Randewich SAN FRANCISCO (Reuters) - Leading mobile chipmaker Qualcomm said on Wednesday it could face a civil action from U.S. authorities over alleged bribery of officials associated with state-owned companies in China. With smartphone sales tapering off in the United States, China is a major market for Qualcomm, …

  • Bipartisan group slams U.S. SEC for resisting email privacy reform

    By Sarah N. Lynch WASHINGTON (Reuters) - A coalition of liberals and conservatives is lashing out at the U.S. Securities and Exchange Commission for pushing back against legislation that would force government …

    To match Special Report SEC/INVESTIGATIONS

    By Sarah N. Lynch WASHINGTON (Reuters) - A coalition of liberals and conservatives is lashing out at the U.S. Securities and Exchange Commission for pushing back against legislation that would force government agencies to get warrants before they access the email of people under investigation. The group, Digital 4th, …

  • Buffett: No need for more BNSF rail car buys on Keystone delay

    Warren Buffett, the chairman of Berkshire Hathaway , said on Wednesday the company's BNSF railroad unit probably will not need to expand its rail car purchases as a result of delays in the Keystone pipeline …

    Investor Warren Buffett poses for a portrait during an interview after a luncheon to benefit the Glide Foundation of San Francisco in New York

    Warren Buffett, the chairman of Berkshire Hathaway , said on Wednesday the company's BNSF railroad unit probably will not need to expand its rail car purchases as a result of delays in the Keystone pipeline construction. In addition, he said that the rail industry as a whole remains concerned about safety after a recent …

  • Japan attack on wireless 'oligopoly' awkward for SoftBank's U.S. plans

    By Yoshiyasu Shida TOKYO (Reuters) - For Japanese billionaire Masayoshi Son, who wants to build the world's largest mobile Internet company, criticism of his operations from regulators in his home market …

    A man holding his mobile phone walks past the logo of Softbank Corp at its branch in Tokyo

    By Yoshiyasu Shida TOKYO (Reuters) - For Japanese billionaire Masayoshi Son, who wants to build the world's largest mobile Internet company, criticism of his operations from regulators in his home market could not come at a worse time. The feisty entrepreneur is lobbying skeptical Washington officials to let him buy a …

  • Valeant CEO 'disappointed' in Allergan poison pill: CNBC

    (Reuters) - The chief executive officer of Valeant Pharmaceuticals, which made a $47 billion unsolicited offer for competitor Allergan Inc on Tuesday, said during an interview on CNBC that he was "disappointed" …

    A sample of Botox is seen at the Long Island Plastic Surgical Group at the Americana Manhasset luxury shopping destination in Manhasset

    (Reuters) - The chief executive officer of Valeant Pharmaceuticals, which made a $47 billion unsolicited offer for competitor Allergan Inc on Tuesday, said during an interview on CNBC that he was "disappointed" with Allergan's so-called poison pill. Allergan on Tuesday night said its board of directors had …

  • U.S. new-home sales drop 14.5 per cent in March; worst sales rate in 8 months

    WASHINGTON - The number of Americans buying new homes plummeted in March to the slowest pace in eight months, a sign that real estate's spring buying season is off to a weak start.

    US new-home sales drop 14.5 per cent in March; worst sales rate in 8 months

    WASHINGTON - The number of Americans buying new homes plummeted in March to the slowest pace in eight months, a sign that real estate's spring buying season is off to a weak start.

  • U.S., euro zone activity up; China decline slows

    By Rodrigo Campos and Jonathan Cable NEW YORK/LONDON (Reuters) - The U.S. manufacturing sector expanded in April and the euro zone private sector started the second quarter on its strongest footing since …

    Employees work on the production line of a wine bottle cap factory in Ganyu county

    By Rodrigo Campos and Jonathan Cable NEW YORK/LONDON (Reuters) - The U.S. manufacturing sector expanded in April and the euro zone private sector started the second quarter on its strongest footing since 2011, while the pace of decline in Chinese factory activity slowed, surveys showed on Wednesday. Financial data firm …

  • Allergan launches shareholder rights plan in attempt to stave off takeover

    Canada's Valeant Pharmaceuticals International Inc said on Tuesday it and activist investor Bill Ackman made an unsolicited $47 billion bid to buy Botox maker Allergan Inc as it seeks to become one of …

    A sample of Botox is seen at the Long Island Plastic Surgical Group at the Americana Manhasset luxury shopping destination in Manhasset

    Canada's Valeant Pharmaceuticals International Inc said on Tuesday it and activist investor Bill Ackman made an unsolicited $47 billion bid to buy Botox maker Allergan Inc as it seeks to become one of the world's five biggest drug companies. The offer, if successful, would bring together two mid-sized pharmaceutical companies …

  • Toyota sells 2.58 million vehicles globally in Q1, outpacing GM, VW

    TOKYO - Toyota kept its position at the top in global vehicle sales for the first quarter of this year, outpacing rivals General Motors and Volkswagen.

    People look at a Toyota car during the 15th Shanghai International Automobile Industry Exhibition in Shanghai

    TOKYO - Toyota kept its position at the top in global vehicle sales for the first quarter of this year, outpacing rivals General Motors and Volkswagen.

  • Wal-Mart to report how compliance targets impacted executive pay: WSJ

    (Reuters) - Wal-Mart Stores Inc is set to report as soon as Wednesday on how its executives performed on their goals to overhaul compliance operations and how that affected their pay, the Wall Street Journal …

    A man stands on a skateboard outside a Wal-Mart store in Williston

    (Reuters) - Wal-Mart Stores Inc is set to report as soon as Wednesday on how its executives performed on their goals to overhaul compliance operations and how that affected their pay, the Wall Street Journal reported. The company's board will issue a securities filing in the coming days that will detail how well executives …

  • CN, CP Rail profits could leave sour taste for farmers

    Canada's two largest railroads reported stronger-than-expected profits on Tuesday, results that could prompt fresh criticism from farmers already unhappy with the handling of a massive crop backlog during …

    File photo of rail cars loaded with Canadian wheat in the Rocky Mountains on the Canadian Pacific railway line near Banff, Alberta

    Canada's two largest railroads reported stronger-than-expected profits on Tuesday, results that could prompt fresh criticism from farmers already unhappy with the handling of a massive crop backlog during one of the harshest winters in decades. Canadian Pacific Railway Ltd and Canadian National Railway Co have come under …