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Sumner Redstone to step down from Viacom board

Controlling shareholder Sumner Redstone will step down from the Viacom board of directors after the company's annual meeting in February, according to a company filing on Friday. The ailing, 93-year old Redstone, who has not attended an annual investor meeting since 2014, will continue to participate in meetings in a “non-voting” role, according to the filing. It was Redstone's decision to step down, according to a source familiar with the situation, who did not want to be named because discussions were private.

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Sumner Redstone to step down from Viacom board

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Top U.S. regulators say financial system functioning in ‘orderly manner’

U.S. financial regulators on Friday said the country's financial system is functioning in an “orderly manner” after Britain voted to leave the European Union and sent markets around the globe reeling. The Financial Stability Oversight Council – which includes the heads of the U.S. Treasury, Securities and Exchange Commission and Federal Reserve – “noted that the U.S. financial system continues to function in an orderly manner, and that the Council will continue to monitor ongoing developments

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Top U.S. regulators say financial system functioning in ‘orderly manner’

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GE calls off Electrolux appliance deal amid U.S. antitrust fight

By Simon Johnson and Diane Bartz STOCKHOLM/WASHINGTON (Reuters) – General Electric on Monday walked away from a $3.3 billion agreement to sell its appliances business to Sweden's Electrolux, terminating the deal after months of opposition from U.S. antitrust regulators. “The appliances business is performing …

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GE calls off Electrolux appliance deal amid U.S. antitrust fight