NEW YORK (Reuters) – The Bank of New York Mellon has agreed to pay $5 million to settle U.S. Commodity Futures Trading Commission charges for repeatedly failing to correctly report millions of swap transactions, violating a previous order, the regulator said in a statement on Monday. BNY repeatedly failed to correctly report at least 5…
By Daniel Wiessner (Reuters) – U.S. labor board prosecutors have determined that a union’s claims that Chipotle Mexican Grill illegally refused to give raises to workers at a Michigan restaurant after they became the first and only employees of the fast-casual chain to unionize have merit. The National Labor Relations Board’s general counsel will issue…
By Svea Herbst-Bayliss NEW YORK (Reuters) -Elliott Investment Management, which now holds voting power over roughly 9.7% of Southwest Airlines, is telling investors the company needs new outside leadership for a “better future,” but it is also ready to press ahead with a planned proxy fight. In a letter to shareholders, the hedge fund is…
By Ann Saphir (Reuters) – San Francisco Federal Reserve President Mary Daly on Monday said “the time is upon us” to cut interest rates, likely starting with a quarter-percentage point reduction in borrowing costs. Asked if there is anything that could derail a rate cut at the U.S. central bank’s Sept. 17-18 policy meeting,…
