Matt McCormick News
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PNC Financial Services Group Inc., the second-largest U.S. regional bank, faces the same decision on its 21 percent stake in BlackRock Inc. that confronts many individual investors: sell or hold?
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Bankers at Goldman Sachs Group Inc. had a tumultuous 2012. The firm cut 900 jobs, promoted the fewest executives to the exalted post of partner in more than a decade and slashed the portion of revenue set aside for compensation to 38 percent from 42 percent a year earlier.
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In an interview after agreeing to return as Procter & Gamble Co.’s chief executive officer, A.G. Lafley made clear he hadn’t been seeking the job.
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Procter & Gamble Co. is replacing Chief Executive Officer Bob McDonald with his predecessor, A.G. Lafley, as the world’s largest consumer-products maker struggles to rekindle growth at home and abroad.
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Any lament that U.S. executives are sitting on cash at their companies instead of investing in plants and equipment may be about to get louder.
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Returns from the U.S. equity bull market that started four years ago are matching those from the last half of the 1990s even as valuations are 28 percent lower.
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Stocks rallied amid growth in U.S. home sales, better-than-forecast earnings and speculation the European Central Bank will cut interest rates. U.S. equities recovered after briefly erasing gains following a false report of explosions at the White House.
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The six biggest U.S. banks are projected to post a 34 percent increase in first-quarter profit. That may fail to prolong an 18-month rally in their shares as the firms struggle to boost revenue.
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U.S. stocks rose, sending the Standard & Poor’s 500 Index higher for a third day, as earnings from Travelers Cos. to Netflix Inc. beat estimates and new-home sales rose in March.
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The $23 billion takeover of H.J. Heinz Co. isn’t enough to sate billionaire Warren Buffett.
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