(Reuters) – Citigroup said on Tuesday it had set Chief Executive Officer Jane Fraser’s 2024 compensation at $34.5 million, 33% more than the previous year. The compensation includes $1.5 million of base salary, $4.95 million in cash incentive and the rest in deferred incentives, the bank said. Fraser had received $26 million in total compensation …
Citi raises CEO Fraser’s compensation 33% to $34.5 million for 2024 Read More »
SINGAPORE (Reuters) – JP Morgan analysts upgraded Singapore equities to overweight on Wednesday, citing inexpensive valuations, high dividend yields as well as government initiatives to revive the domestic stock market. In a note after Singapore’s budget on Tuesday, analysts at JP Morgan set a bull case target for the Singapore benchmark index of 4,200, implying …
JP Morgan upgrades Singapore equities to overweight Read More »
By Juby Babu and Milana Vinn (Reuters) -Buyout firm Silver Lake is in exclusive discussions to purchase a majority stake in Intel’s programmable chip business, Altera, a person familiar with the matter told Reuters on Tuesday. The deal is likely to value Altera at about $9 billion, two sources familiar with the deal talks said, …
Silver Lake in talks to buy majority stake in Intel’s Altera unit, sources say Read More »
By Byron Kaye and Sameer Manekar SYDNEY (Reuters) -National Australia Bank, the country’s biggest business lender, said on Wednesday that first-quarter profit slipped as competition for customers ate into margins and more borrowers fell behind on repayments, sending its shares tumbling. The result amounts to what Australian banks hope is the end of a tough …
Borrowing strain hits Q1 profit at Australia’s NAB, shares dive Read More »
By David Shepardson WASHINGTON (Reuters) -The U.S. Senate voted on Tuesday 51-45 to confirm President Donald Trump’s nominee Howard Lutnick, the billionaire chairman and CEO of Wall Street firm Cantor Fitzgerald, to run the Commerce Department. The Commerce Department, which has 47,000 employees, is responsible for U.S. export controls, anti-dumping and anti-subsidy duties, weather forecasting, …
US Senate confirms Cantor Fitzgerald’s Lutnick to head Commerce Department Read More »
By Stephen Culp NEW YORK (Reuters) – The S&P 500 squeaked past its previous record closing high on Tuesday at the top of a holiday-shortened week, with earnings season winding down, U.S. Federal Reserve minutes on tap, and geopolitical uncertainties churning in the background. The three major stock indexes wobbled between red and green for …
S&P 500 ekes out all-time closing high as Fed minutes eyed Read More »
By Tanay Dhumal (Reuters) -Occidental Petroleum said on Tuesday that it had struck two deals in the current quarter to divest some upstream assets to undisclosed buyers for a total of $1.2 billion, although its current-quarter production forecast fell short of expectations. The transactions, which include Rockies non-operated assets and Permian Basin assets that are …
Occidental to divest some upstream assets for $1.2 billion Read More »
By Nate Raymond (Reuters) – A federal judge in Texas on Tuesday lifted an order that blocked the enforcement of an anti-money laundering law that forces millions of business entities to disclose the identities of their real beneficial owners to the Treasury Department. U.S. District Judge Jeremy Kernodle in Tyler, Texas, put on hold an …
Texas judge clears way for anti-money laundering law’s enforcement Read More »
(Reuters) – BHP Group, the world’s largest listed miner, on Wednesday said it raised $3 billion through an issue of senior unsecured bonds in the United States. The bonds will be issued in three tranches by BHP’s subsidiary in the United States and will be guaranteed by the miner. It will use the proceeds from …
By Jessica DiNapoli ORLANDO (Reuters) – Mondelez CEO Dirk van de Put on Tuesday said the Oreo maker will face new cost pressures from the Make America Healthy Again movement spearheaded by U.S. health secretary Robert F. Kennedy Jr and that Americans would see price hikes. Make America Healthy Again could require that Mondelez reformulate …
Mondelez CEO says Kennedy agenda product re-formulations will mean price hikes Read More »
