SEOUL (Reuters) - Samsung Electronics Co, the world's top maker of memory chips and flat screen TVs, reported a record quarterly profit on Friday, aided by strong sales of both of its key products. Samsung reported a 5.01 trillion won ($4.23 billion) operating profit in April-June, beating a ...More
LONDON (Reuters) - A global accounting standard setter proposed a new rule for insurers on Friday, aiming to shine a light on a sector criticized by investors for being a "black box" that keeps them in the dark. The International Accounting Standards Board (IASB), whose rules are used in over 100 ...More
NEW YORK (Reuters) - The Securities and Exchange Commission charged billionaire Samuel Wyly and his brother Charles with fraud for reaping more than $550 million of illicit gains by trading stock in four companies while they were serving as directors. Samuel Wyly, 75, and Charles Wyly, 76, were accused of concocting ...More
NEW YORK (Reuters) - BNP Paribas SA <BNPP.PA> has hired former Bank of America Corp <BAC.N> executive Chris Innes to head equity sales for the Americas in New York, a person familiar with the matter said. Innes will oversee sales for the Americas for stocks, equity derivatives, prime brokerage ...More
WASHINGTON (Reuters) - Federal Reserve officials clashed on Thursday over whether the central bank should be more aggressive in supporting the stumbling economy and one said the Fed's current policy may be contributing to worryingly low levels of inflation. The Fed's promise to hold benchmark interest rates exceptionally low ...More
NEW YORK (Reuters) - Two lawsuits have been filed over a gob of toothpaste. Escalating a battle between two of the world's biggest toothpaste makers, Colgate-Palmolive Co <CL.N> sued GlaxoSmithKline Plc <GSK.L><GSK.N> in Manhattan federal court, seeking a court order that its packaging for Colgate toothpaste ...More
NEW YORK (Reuters) - The Federal Reserve's balance sheet decreased in the latest week, Fed data released on Thursday showed. The balance sheet -- a broad gauge of Fed lending to the financial system -- was $2.308 trillion on July 28 versus $2.315 trillion on July 21. (Reporting by Burton ...More