U.S. fund Elliott suffers crushing defeat in Hyundai proxy vote

U.S. fund Elliott suffers crushing defeat in Hyundai proxy vote
SEOUL (Reuters) – Investors in Hyundai Motor Group companies rejected on Friday Elliott Management’s demands for a massive special dividend and board seats, dealing a blow to the U.S. hedge fund’s campaign to shake up South Korea’s second-biggest family-run conglomerate. Employees of Hyundai Motor Group attend the company’s new year ceremony in Seoul, South Korea, January 2, 2019. REUTERS/Kim Hong-Ji... Read More

Japan firms see prolonged Sino-U.S. trade war, China slowdown to persist: Reuters poll

Japan firms see prolonged Sino-U.S. trade war, China slowdown to persist: Reuters poll
TOKYO (Reuters) – Three in four Japanese companies expect U.S.-China trade frictions to last until at least late this year, a sharp contrast to market hopes that presidents Donald Trump and Xi Jinping might soon strike a deal to end their damaging trade war, a Reuters poll found. FILE PHOTO: Tokyo’s Akasaka business district is seen in Tokyo, Japan July... Read More

Wall Street powers world stocks; dollar up on Brexit woes

Wall Street powers world stocks; dollar up on Brexit woes
NEW YORK (Reuters) – Wall Street led global stocks higher on Thursday on the back of upbeat economic data, while the dollar rallied despite the Federal Reserve’s uber-dovish stance as Brexit worries weighed on the euro and sterling. The British currency tumbled 0.73 percent against the U.S. dollar on a rising probability of a “no-deal” Brexit that would likely slow... Read More

Wall Street powers world stocks; Brexit weighs on sterling

Wall Street powers world stocks; Brexit weighs on sterling
NEW YORK (Reuters) – A measure of stocks across the globe rose in a volatile session on Thursday, led by gains on Wall Street, while the dollar rallied as traders continued to digest the Federal Reserve’s uber-dovish stance. Sterling tumbled, down 0.93 percent versus the U.S. dollar, as concern grew alongside the probability of a no-deal Brexit that would likely... Read More

Wells Fargo in talks with ex-Goldman exec Schwartz to be its next CEO: New York Post

Wells Fargo in talks with ex-Goldman exec Schwartz to be its next CEO: New York Post
FILE PHOTO: A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith (Reuters) – Wells Fargo’s board is in talks with Harvey Schwartz, the former president and co-chief operating officer of Goldman Sachs, to take over as the bank’s next chief executive, the New York Post reported on Thursday, citing people briefed on the... Read More

IMF supports U.S. Fed’s ‘patient’ halt to rate hikes

IMF supports U.S. Fed’s ‘patient’ halt to rate hikes
FILE PHOTO: The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., as IMF Managing Director Christine Lagarde meets with Argentine Treasury Minister Nicolas Dujovne September 4, 2018. REUTERS/Yuri Gripas WASHINGTON (Reuters) – The International Monetary Fund supports the U.S. Federal Reserve’s decision to halt its campaign to raise interest rates as a prudent move... Read More

Asian shares rise on Fed dovishness; growth concerns linger

Asian shares rise on Fed dovishness; growth concerns linger
SHANGHAI (Reuters) – Shares in Asia rose on Thursday after the U.S. Federal Reserve abandoned forecasts for any interest rate hikes this year, FILE PHOTO: Passersby walk past in front of an electronic stock quotation board outside a brokerage in Tokyo, Japan, September 28, 2018. REUTERS/Toru Hanai but concerns over U.S.-China trade talks and slowing global growth continued to weigh... Read More