SAN FRANCISCO — Proxy advisory firm Egan-Jones advised Apple Inc shareholders on Friday to reject activist investor Carl Icahn’s demand that the iPhone maker expand its stock buyback program, a proposal that will be put to a vote this month.
«The board and management team have demonstrated a strong commitment to returning capital to shareholders over the past two years,» the firm, the smallest of the three major proxy advisory outfits, said in a report obtained by Reuters on Friday.
SAN FRANCISCO/NEW YORK — The rapid drop in U.S. unemployment will make re-crafting the Federal Reserve’s easy-money promise a top priority for new Chair Janet Yellen, who will probably avoid tying policy to specific targets in the labor market.
It was more than a year ago that the U.S. central bank first promised not to raise interest rates until joblessness fell to at least 6.5 percent, a pledge that policymakers thought would hold until at least mid-2015.
Posted in News
Tagged fed, rate, that
FRANKFURT — Private equity investor Lone Star LS.UL has hired Rothschild ROT.UL and Bank of America Merrill Lynch (BAC.N) as advisors for the planned sale of German corporate bank IKB (IKBG.F), two people familiar with the transaction said.
The sale of one of the highest-profile German casualties of the financial crisis is likely to begin shortly, they said, as upcoming European bank health tests put pressure on Lone Star to find a financially robust home for the lender.
Posted in Deals
Tagged bank, ikb, said
WASHINGTON — Federal Reserve Chairman Ben Bernanke on Thursday offered an optimistic view on the U.S. economy’s prospects to Democratic senators, but warned that «tough decisions» were ahead on dealing with long-term budget deficits and healthcare costs, according to lawmakers present.
Bernanke, whose term as chairman ends on January 31, told a private lunchtime meeting with senators that the reduction in federal budget deficits and the country’s improving energy position were «all positives» contributing to a healthier U.S. Read more