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What’s News: Business & Finance – Wall Street Journal


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What’s News: Business & Finance – Wall Street Journal

  1. 1. What’s News: Business & Finance – Wall Street Journal Toyota reclaimed the title of world’s largest auto maker by sales from GM in 2012, reboundingfrom an earthquake that damaged its factories and recalls that dinged its reputation. Detroit’s car companies are gearing up to report billions of dollars in profits, capping anotherstrong year. U.S. authorities are pushing for a settlement of rate-rigging allegations with RBS that wouldresult in a unit of the big U.K. bank pleading guilty to criminal charges. Investigators have examined whether media firms facilitated insider trading by prematurelyreleasing market-moving government data. No criminal charges are seen. Materials shares helped send the Dow and S&P 500 lower. The blue chips lost 14.05 points to13881.93, snapping a six-session win streak. Yahoo posted results that beat analysts’ expectations and showed its business was holdingsteady six months into CEO Mayer’s tenure. Peltz’s Trian has sold part of the stake in State Street disclosed when the activist investorpounced on the trust bank, demanding a turnaround. The U.S. Treasury failed to rein in pay at companies that received federal bailout funds, thespecial inspector general for TARP said. Buffett’s Berkshire made a bid late last year for NYSE Euronext ahead of the Big Boardparent’s agreement to be acquired by ICE.Time Warner named home video and digital chief Tsujihara to be CEO of Warner Bros.Entertainment, one of Hollywood’s biggest jobs. Japanese regulators concluded part of their probe into battery problems on Boeing‘s 787without finding clues about what went wrong. 1/2
  2. 2. Penney plans to roll out more sales, further eroding the no-discounts policy introduced by its CEO a year ago. Iceland won a sweeping victory in a court fight over its responsibilities to foreign depositors in Landsbanki, which failed in 2008. This month’s attack on an Algerian gas plant is forcing big oil firms to rethink protection of energy fields, potentially boosting output costs. Bausch & Lomb’s private-equity owners are leaning toward an IPO after possible buyers of the business balked at the asking price. Federal authorities arrested a former senior trader at Jefferies, accusing him of defrauding investors in the mortgage-backed securities market. Caterpillar’s chief blamed a write-down in the value of a Chinese firm acquired last year on accounting “misconduct” by ex-managers there. A version of this article appeared January 29, 2013, on page A1 in the U.S. edition of The Wall Street Journal, with the headline: What’s News: Business & Finance. Source Article from ooglenews_wsj What’s News: Business & Finance – Wall Street Journal 2/2Powered by TCPDF (