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Exxon Mobil, Tillerson agree to cut all ties

If his appointment is confirmed, the value of more than 2 million deferred Exxon Mobil shares (worth about $182 million at Tuesday's closing price) that Tillerson would have received over the next 10 years will be transferred to an independently managed trust, the company said in a statement. The share awards will be …

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Exxon Mobil, Tillerson agree to cut all ties

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Citi and JPMorgan top list of globally systemic banks

By Huw Jones LONDON (Reuters) – Citi has joined JPMorgan at the top of global regulators' list of systemically important banks, replacing HSBC and meaning the U.S. bank will have to hold extra capital from 2019 to help preserve financial stability. The group of 20 economies (G20) agreed after the 2007-09 financial crisis that top banks, whose size and complexity mean a collapse could wreak havoc in markets, should hold extra capital, according to the level of risk they present. In the annual update of rankings published on Monday by the…

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Citi and JPMorgan top list of globally systemic banks

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SolarCity slashing costs, including CEO pay

SolarCity Corp on Wednesday said it would cut operating costs, including slashing its chief executive's salary, to bring expenses in line with its reduced solar installation outlook. The company said Chief Executive Officer Lyndon Rive and his brother, Chief Technology Officer Peter Rive, had asked to have their annual salaries reduced to $1

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SolarCity slashing costs, including CEO pay

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Ericsson defends practices as report questions revenue accounting

Swedish telecom equipment maker Ericsson defended its accounting practices after a newspaper questioned the way it booked future sales which had yet to be invoiced. The company denied any wrongdoing and said in an emailed statement that “the claim that Ericsson in an inaccurate way has reported revenues in the income statement is not true”. Ericsson referred to the annual report, which states that one of the conditions for reporting sales is when “collection is reasonably assured”

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Ericsson defends practices as report questions revenue accounting

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Intel considers sale of cyber security business: FT

NEW YORK (Reuters) – Chipmaker Intel Corp is considering the sale of its cyber security business, the Financial Times reported on Sunday. According to the report, the company has been talking to its bankers about options for the Intel Security unit, which was previously known as McAfee. Intel bought McAfee for $7.7 billion in 2011. A spokesperson for Intel could not be immediately reached for

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Intel considers sale of cyber security business: FT

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Novartis executive exodus complicates drugmaker’s rebuilding job

By John Miller ZURICH (Reuters) – With seven departures in the space of five months, Novartis's top management is in upheaval just as CEO Joe Jimenez tries to tackle a list of challenges that have seen the drug firm's share price fall 25 percent since July. The most dramatic exit came last week, when head of pharmaceuticals David Epstein quit as his division was broken in two. By splitting oncology into a department of its own, Novartis aims to make the most of…

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Novartis executive exodus complicates drugmaker’s rebuilding job

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Starboard launches proxy fight to remove entire Yahoo board

Starboard, which has been pushing for changes at Yahoo since 2014 and owns about 1.7 percent of the company, said it would nominate nine candidates for the board. The proxy fight comes as Yahoo is pressing ahead with an auction of its core Internet business, which includes search, mail and news sites. Yahoo said in a statement it will review Starboard's nominees and respond in due course.

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Starboard launches proxy fight to remove entire Yahoo board

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Macy’s bets off-price stores within stores will drive traffic

(Reuters) – Macy's Inc plans to open Backstage off-price stores within some existing Macy's, betting that the benefit of bringing new customers into stores outweighs the risk of diluting the company brand and undercutting sales of full-price items.

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Macy’s bets off-price stores within stores will drive traffic

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U.S. lawmakers say Takata manipulated data to hide airbag problems

By David Shepardson and Paul Lienert WASHINGTON/DETROIT (Reuters) – U.S. lawmakers on Tuesday stepped up pressure on federal regulators and Takata Corp to accelerate the recall of millions of airbag inflators, citing evidence that the Japanese…

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U.S. lawmakers say Takata manipulated data to hide airbag problems

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Airbus Group profits in line, raises A330 output goal

Airbus Group posted 2015 profit in line with forecasts on Wednesday and announced plans to reverse part of a planned production cut of A330 aircraft due to stronger-than-expected demand. Analysts were on average predicting full-year core operating income of 4.114 billion euros on revenue of 64.736 billion,

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Airbus Group profits in line, raises A330 output goal

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