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VW’s supervisory board to discuss contract extension for CEO – source

HAMBURG (Reuters) - Volkswagen (DE:VOWG_p)'s supervisory board will discuss a contract extension for chief executive Herbert Diess at an extraordinary meeting on Wednesday, a source familiar with the deliberations told Reuters. VW's supervisory board has sought to avoid a discussion about the contract extension, as a way to defuse a leadership crisis at the world's largest carmaker, two people familiar with...

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Vaccine Hiccup, DoorDash, AirBnB IPOs, Stimulus Hope – What’s up in Markets

By Geoffrey Smith  Investing.com -- U.K. regulators flag allergic reactions to the Pfizer/Biontech vaccine. DoorDash raises nearly $3.4 billion in a blockbuster IPO and AirBnB is expected to price later. Stocks edge up as politicians continue stimulus dance and the yuan hits new highs despite inflation dipping below zero for the first time in a decade. Here’s what you need to know in financial...

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Criminals getting smarter in use of digital currencies to launder money

By Anna Irrera LONDON (Reuters) - Criminals are becoming more sophisticated in their use of cryptocurrencies to launder money, with hundreds of millions of dollars of dirty funds last year flowing through digital wallets that allow users to hide their trail, according to Elliptic. At least 13% of all criminal proceeds in bitcoin passed through privacy wallets - which make it harder...

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Dow Futures Up 75 Pts; Confidence of Covid Relief Package Rises

By Peter Nurse    Investing.com - U.S. stocks are seen opening largely higher Wednesday, helped by growing confidence that U.S. lawmakers will agree on a coronavirus relief package.  At 7:05 AM ET (1205 GMT), the Dow Futures contract rose 75 points, or 0.3%, S&P 500 Futures traded 6 points, or 0.2%, higher, while Nasdaq 100 Futures dropped 9 points, or 0.1%.  The Trump administration...

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FireEye and GameStop Fall Premarket; Chewy Rises

By Peter Nurse  Investing.com -- Stocks in focus in premarket trade on Wednesday, December 9th. Please refresh for updates. FireEye (NASDAQ:FEYE) stock fell 8.5% after the cybersecurity company said on Tuesday that it had been hacked, adding that the hackers appeared interested in a subset of customers, namely government agencies. It said it believed the attack was state-sponsored, but didn't mention...

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More EU summits might be needed to reach budget deal, Poland says

WARSAW (Reuters) - Poland and Hungary could reach a compromise to allow the EU to pass budget, but another summit might be needed to work out the deal beyond the meeting of the bloc's leaders planned for this week, Poland's Foreign Minister Zbigniew Rau said on Wednesday. Poland and Hungary have been blocking 1.8 trillion euros ($2.18 trillion) in funding because...

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Honda halts UK production due to parts shortage

By Nick Carey LONDON (Reuters) - Honda Motor Co Ltd said on Wednesday it had temporarily halted production at its British factory because of transport-related delays that have cause a shortage of parts. "The situation is currently being monitored with a view to re-start production as soon as possible," Honda said in a statement. A spokesman declined to say whether the...

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Ex Barclays bankers lose London appeal against Euribor-rigging convictions

LONDON (Reuters) - Two former Barclays (LON:BARC) bankers, jailed in Britain for conspiring to rig Euribor interest rates, have lost an attempt to overturn their convictions because of alleged juror bias and errors by the trial judge, the Serious Fraud Office said on Wednesday. Colin Bermingham, a former cash market expert and veteran banker, and Carlo Palombo, who once...

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StockBeat: Just When You Thought It Was Safe to Get Back in the Water

By Geoffrey Smith  Investing.com -- The marketing slogan “Just When You Thought It Was Safe to Get Back Into the Water” was perhaps the only memorable thing about the dismal sequel to Steven Spielberg’s classic “Jaws”. It may be coming back to the minds of investors reading headlines about the vaccine developed by Pfizer (NYSE:PFE) and BioNTech (NASDAQ:BNTX) this morning....

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