Category Archives: business

Aston Martin may lose U.S. dealers without safety exemption

DETROIT (NEWS.GNOM.ES) – U.S. Aston Martin dealers say they are in danger of closing if federal regulators refuse to give them an exemption to safety rules that would allow them to keep selling all four models the British luxury sports car maker produces Continue reading

U.S. SEC charges Houston adviser with not disclosing fund payments

By Suzanne Barlyn By Suzanne Barlyn (NEWS.GNOM.ES) – A Houston-based investment advisory firm steered clients to certain mutual funds without disclosing that it was receiving payments from the broker who offered those funds, the U.S. Continue reading

Frankfurt court bans Uber taxi services across Germany

By Eric Auchard By Eric Auchard FRANKFURT (NEWS.GNOM.ES) – A German regional court has issued a temporary injunction against Uber, the fast-growing, U.S.-based online chauffeur service which is no stranger to legal challenges from taxi-cab rivals and regulators around the globe. In its ruling, the Frankfurt Regional Court said the company could no longer offer its phone apps to connect drivers with passengers, stating that Uber’s network of drivers lacked the necessary commercial licenses to pick up passengers. Continue reading

Shell CEO says U.S. should export oil and embrace global markets

WASHINGTON (NEWS.GNOM.ES) – The head of energy company Royal Dutch Shell said on Tuesday that U.S. policymakers should lift the crude oil export ban because allowing the shipments would make global energy system more stable. “Policy makers here in the U.S. Continue reading

Abercrombie resolves CEO pay lawsuit, to tighten governance

By Jonathan Stempel By Jonathan Stempel (NEWS.GNOM.ES) – Abercrombie & Fitch Co’s board agreed to make governance changes to resolve a lawsuit objecting to its awarding longtime Chief Executive Officer Michael Jeffries more than $140 million of compensation since 2007. Continue reading

BP asks court to remove claims administrator in Gulf spill case

HOUSTON (NEWS.GNOM.ES) – BP Plc asked a U.S. court on Tuesday to fire the court-appointed lawyer tasked with paying out compensation to people affected by the 2010 Gulf of Mexico oil spill, saying Patrick Juneau had not disclosed an alleged conflict of interest before taking the job. It was the latest legal challenge to the settlement filed by the London-based oil major, which has complained previously that Juneau has been too generous and liberal when approving claims Continue reading

Hugo Boss says Permira to place 11.2 percent Hugo Boss stake

FRANKFURT (NEWS.GNOM.ES) – German retailer Hugo Boss on Tuesday said an investment company controlled by private equity investor PermiraPERM.UL is placing up to 7.9 million Hugo Boss shares. The shares, which amount to around 11.2 percent of the company’s total capital, are being placed in an accelerated book building process, Hugo Boss said. The shares are being placed by Red & Black S.A., a company majority owned by Permira Holdings, Hugo Boss said Continue reading

Credit Suisse says is investigating allegations of trader misconduct

LONDON (NEWS.GNOM.ES) – Credit Suisse said it was investigating allegations of trader misconduct reported in the Wall Street Journal earlier on Tuesday. “With regard to the story published in today’s Wall Street Journal, we cannot comment on employee matters under investigation,” Credit Suisse said in a statement. “However, any allegations of this nature are taken very seriously at Credit Suisse.” (Reporting by Clare Hutchison; editing by Keiron Henderson) Singapore International News Finance Credit Suisse Wall Street Journal Continue reading

Danone names new CEO as Riboud prepares for succession

By Dominique Vidalon By Dominique Vidalon PARIS (NEWS.GNOM.ES) – Danone said on Tuesday that Chairman and Chief Executive Franck Riboud would split his role after 18 years at the helm of the world’s largest yoghurt maker, which is grappling with a series of setbacks in Asia and in Europe. Riboud, 58, who took over from his late father, Antoine Riboud, in 1996, will remain as chairman and focus on the group’s long-term strategy while Emmanuel Faber, 50, the chief operating officer, will become CEO, effective Oct. 1. Continue reading

Exclusive: Deutsche Asset & Wealth Management opens Dallas office in regional shift

By Elizabeth Dilts By Elizabeth Dilts NEW YORK (NEWS.GNOM.ES) – Deutsche Bank AG’s Asset & Wealth Management division said on Tuesday it has opened a private bank in Dallas with two former JP Morgan Private Bank executives at the helm. The move is part of a global push to increase the German bank’s financial adviser base by 15 percent in the next three years. Continue reading