Regulators eye Wall Street perks for entering government service
Regulators push to end immediate vesting of deferred compensation for executives who move to public service. The rule, tied to the 2010 Dodd-Frank Act, would require banks to delay large bonuses and stock payouts, reshaping incentives for Wall Street leaders considering government posts.
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Apple posts first quarterly revenue drop in 13 years
Apple reports a 13 percent drop in first quarter revenue from a year earlier with iPhone sales down to 51.2 million as revenue from services and other products totals 50.6 billion while earnings miss estimates and share prices fall below 100. FCA posts strong first quarter profit and revenue gains with North America and Europe leads. Chipotle reports first quarterly loss amid store sales decline and rising costs. Procter and Gamble beats on earnings but misses on revenue as strong dollar weighs. Twitter posts revenue below expectations with user growth but forecast for Q2 well below estimates. Tribune Publishing CEO flags tension with Gannett over an 815 million dollar bid and possible 12.25 per share offer.
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