Lawmakers slam big bank CEOs for failure to increase interest rates on savings

Congressional lawmakers slammed US bankers this week for not raising interest rates on savings accounts held by everyday consumers despite a series of major increases in the federal funds rate by the Federal Reserve. Interest rate increases by the Fed make it more expensive for banks and other financial institutions to borrow money from each … Read more

Starbucks projects profit growth from tech, stores, workers spending

Register now for FREE unlimited access to Register SEATTLE, Sept 13 (Reuters) – Starbucks Corp (SBUX.O) projects profits to grow between 15% to 20% per share over the next three years, a significant increase from previous guidance based on spending plans of $ 2.5 to $ 3 billion over the same period on technology, … Read more

Wall Street hits back at GOP in the ESG war

Wall Street giants are defending a widespread initiative to invest in companies with environmentally friendly policies, moving away from investment in the fossil fuel industry following attacks on the practice from GOP leaders. Asset management giant BlackRock wrote a letter to GOP states that are trying to curtail a social movement in the financial sector … Read more

Hino’s widening engine scandal becomes nagging headache for Toyota

Hino Motors’ logo is pictured at the 45th Tokyo Motor Show in Tokyo, Japan October 27, 2017. REUTERS / Kim Kyung-Hoon Register now for FREE unlimited access to Register TOKYO, Aug 23 (Reuters) – A widening scandal at Japan’s Hino Motors (7205.T) over falsification of engine data has become a headache that will not … Read more

Elon Musk files countersuit under seal vs Twitter over $ 44 bln deal

WILMINGTON, Del., July 29 (Reuters) – Elon Musk countersued Twitter Inc (TWTR.N) on Friday, escalating his legal fight against the social media company over his bid to walk away from the $ 44 billion purchase, although the lawsuit was filed confidentially. While the 164-page document was not publicly available, under court rules a redacted version … Read more