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Santander shares fall as bank cuts staff and lowers dividend amount

Santander SA (SANT) has cut staff by 2,500 as it cuts its revenue forecast for the next 12 months, and lowered its dividend to 7.25% as it seeks to reduce its $10.9 billion capital deficit.The company’s share price fell 3.8% to $28.57 in after-hours trading.S&P 500 index futures dropped 0.7%.The bank has cut more than […]

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Volkswagen Finance CEO on $5 billion settlement

Volkswagen Finance Chief Executive Matthias Mueller has agreed to pay $5.2 billion to settle allegations that he conspired to manipulate the German automaker’s profit-sharing and incentive programs, Bloomberg reported.The agreement includes a $1.8 billion payment to settle charges that Mueller’s company illegally shifted the value of financial awards, according to a regulatory filing by the […]

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