Archives

Powered by CMS Forex
free counters

BMW rejects media reports of emissions manipulations

FRANKFURT (Reuters) – German carmaker BMW on Sunday rejected media reports that the emissions treatment systems in its vehicles do not work effectively and that it colluded with rivals on their design.

Supreme Court ruling leads to offensive trademark requests

NEW YORK (Reuters) – A small group of companies and individuals are looking to register racially charged words and symbols for their products, including the N-word and a swastika, based on a U.S. Supreme Court decision on trademarks last month.

U.S. Cuba tour operators gird for Trump travel crackdown

HAVANA/NEW YORK (Reuters) – U.S. tour operators that send Americans to Cuba are banding together to try to limit damage to business from tighter restrictions on travel to the communist-run island expected in September from the Trump administration.

Spain looks at selling more of Bankia, economy minister says

BARCELONA, Spain (Reuters) – Spain will explore the possibility of selling a further stake in state-owned Bankia later this year, Economy Minister Luis de Guindos said in an interview with Spanish newspaper ABC on Sunday.

Female stars call on BBC to ‘act now’ to close gender pay gap

LONDON (Reuters) – Some of the most high-profile female presenters at the BBC called on the head of Britain’s public broadcaster on Sunday to “act now” to address a gender pay gap that sees it pay its top male star five times more than its best-paid female presenter.

Blackstone in talks to buy 40 percent of Israel cyber firm NSO: report

TEL AVIV (Reuters) – Blackstone Group is in advanced talks to acquire 40 percent of Israeli cyber firm NSO Group for $400 million, Israel’s Calcalist business newspaper reported on Sunday.

Madrid asks anti-trust watchdog to probe Uber’s new airport service

MADRID (Reuters) – Authorities in Madrid asked Spain’s anti-trust watchdog on Saturday to investigate whether Uber’s new low-cost airport transfer service constitutes unfair competition.

World Bank orders Argentina to pay $320 million over seized airline: newspaper

BUENOS AIRES (Reuters) – The World Bank’s arbitration tribunal has ordered Argentina to pay $320 million plus interest and legal fees to Spanish travel group Marsans for expropriating its airline Aerolineas Argentinas SA in 2008, a local newspaper reported on Saturday.

India’s Delhi government tells Philip Morris to remove all ads

NEW DELHI (Reuters) – The state government in India’s capital told Philip Morris International Inc and other tobacco companies on Saturday to remove all advertisements from tobacco shops in the city, warning them of legal action if they do not comply.

Opel defends inclusion of employee leases in sales data

FRANKFURT (Reuters) – German carmaker Opel, which is being bought by French rival PSA Group from General Motors , said on Saturday that its sales figures included cars pre-registered by Opel and leased by company workers and pensioners and their families.

Seat chief says sees CNG cars as possible diesel alternative: report

FRANKFURT (Reuters) – Carmaker Seat sees compressed-natural-gas (CNG) as an alternative fuel to diesel, the chief executive of the Spanish Volkswagen division said on Saturday.

EU’s car regulator warns against car diesel ban in cities

BRUSSELS (Reuters) – Banning diesel cars in European cities could hamper automakers’ ability to invest in zero-emission vehicles, the European Union’s commissioner for industry has warned the bloc’s transport ministers.

EU antitrust regulators say probing possible German car cartel

BRUSSELS (Reuters) – EU antitrust regulators are investigating allegations of a cartel among a group of German carmakers, the European Commission said on Saturday, a measure that could result in hefty fines for the companies.

Scaramucci awaits U.S. approval for China deal

NEW YORK (Reuters) – Anthony Scaramucci, the Trump administration’s new communications director, has yet to get approval from U.S. regulators to sell his hedge fund firm to a group led by Chinese conglomerate HNA, according to a person familiar with the matter.

Deutsche Bank, JPMorgan to pay $148 million to end yen Libor cases in U.S.

NEW YORK (Reuters) – Deutsche Bank AG and JPMorgan Chase & Co have agreed to pay a combined $148 million to end private U.S. antitrust litigation claiming they conspired with other banks to manipulate the yen Libor and Euroyen Tibor benchmark interest rates.

Exclusive: U.S. weighs financial sanctions to hit Venezuela’s oil revenue – sources

HOUSTON/WASHINGTON (Reuters) – The United States is considering financial sanctions on Venezuela that would halt dollar payments for the country’s oil, according to a senior White House official and an adviser with direct knowledge of the discussions.

GE shares fall as profit slumps, investors await new CEO’s targets

(Reuters) – General Electric Co’s shares dropped sharply on Friday after it posted a 59-percent decline in second-quarter profit and put off an expected cut to 2018 earnings targets until November, when new CEO John Flannery will be four months into his job.

U.S. fines American, Delta, Frontier for consumer rule violations

WASHINGTON (Reuters) – Frontier Airlines, American Airlines and Delta Air Lines have been fined for violating U.S. Transportation Department airline consumer protection rules, the department said on Friday.

Small-cap rally could shrink on earnings, tax reform hurdles

NEW YORK (Reuters) – Optimism is souring around small-cap stocks for some investors, with a host of factors conspiring to up-end gains that have taken them to record highs.

Lemonheads owner Ferrara eyes Nestle’s candy business: sources

(Reuters) – Ferrara Candy Co, the owner of candies such as Lemonheads and Now & Later chews, is preparing to participate in the auction for Swiss food group Nestle SA’s U.S. candy business, people familiar with the matter said on Friday.

Wall Street dips as GE, energy shares weigh

NEW YORK (Reuters) – U.S. stocks ticked lower on Friday as weak earnings from industrial giant General Electric weighed, while tech shares retreated from record highs and energy tracked the price of oil lower.

U.S. to drop criminal charges in ‘London Whale’ case

NEW YORK (Reuters) – U.S. prosecutors on Friday said they are dropping criminal charges against two JPMorgan Chase & Co derivatives traders implicated in the “London Whale” trading scandal that caused $6.2 billion of losses in 2012.

Democrats in U.S. Congress urge review of Amazon’s Whole Foods deal

WASHINGTON (Reuters) – A group of Democrats in Congress urged the U.S. Department of Justice and Federal Trade Commission in a letter this week to conduct a more in-depth review of online retailer Amazon.com Inc’s plan to buy grocer Whole Foods Market Inc.

Wells Fargo ordered to pay $575,000, reinstate whistleblower

(Reuters) – The U.S. Department of Labor on Friday ordered Wells Fargo & Co to pay $575,000 and to rehire a whistleblower the bank had dismissed in September 2011 after the former employee raised concerns over the opening of customer accounts without their knowledge, the agency said in a statement.

Ford to petition to avoid U.S. recall of 2.5 million vehicles

WASHINGTON (Reuters) – Ford Motor Co will petition to avoid a U.S. recall of about 2.5 million vehicles with Takata air-bag inflators that the Japanese auto supplier declared defective last week, U.S. regulators and the automaker said on Friday.

Honeywell beats profit estimates, lifts full-year forecasts

(Reuters) – Honeywell International Inc reported a better-than-expected quarterly profit, as sales in its aerospace unit and the business that caters to the energy industry were not as bad as it had feared.

Crimean scandal prompts Siemens to retreat from Russian energy

FRANKFURT/MOSCOW (Reuters) – Germany’s Siemens tried to distance itself from a Crimean sanctions scandal on Friday, halting deliveries of power equipment to Russian state-controlled customers and reviewing supply deals.

U.S. lawyers suing Volkswagen get $300 million in fees, costs

WASHINGTON (Reuters) – A federal judge on Friday approved $125 million in fees and costs for lawyers who sued Volkswagen AG on behalf of U.S. owners of 88,000 3.0 liter diesel vehicles over excess emissions.

India to quiz Philip Morris on marketing of Marlboro

NEW DELHI (Reuters) – India plans to seek an explanation from Philip Morris International Inc about its marketing practices after Reuters reported that the tobacco giant used tactics that government officials say flout the country’s law, a health ministry official said on Friday.

Global pizza brands battle for Russia’s far-flung regions

MOSCOW (Reuters) – Global pizza brands Domino’s and Papa John’s are preparing an assault on Russia’s provinces, betting they can turn a profit far from Moscow as online card payments become more widespread and consumers get to know foreign brands better.

Alitalia gets some 10 non-binding offers for the airline: source

ROME (Reuters) – Struggling Italian airline has received about ten non-binding offers for the company, a source close to the matter said on Friday.

Hedge fund stung by unusual ruling over Sprint-Clearwire deal

WILMINGTON, Del (Reuters) – A Delaware judge ruled Friday that wireless carrier Clearwire Corp was sold in 2013 for more than twice its fair value, a decision that dealt a stinging loss to the Aurelius Capital Management hedge fund which spent years battling to prove Clearwire was vastly underpriced.

Court blocks $18 billion British class action against MasterCard

LONDON (Reuters) – A 14 billion pound ($18 billion) class action lawsuit against MasterCard for allegedly overcharging more than 45 million people in Britain over a 16-year period was blocked by a British court on Friday.

FTC probing allegations of Amazon’s deceptive discounting

WASHINGTON (Reuters) – As part of its review of Amazon’s agreement to buy Whole Foods, the Federal Trade Commission is looking into allegations that Amazon misleads customers about its pricing discounts, according to a source close to the probe.

Freeport Indonesia mine workers extend strike for fourth month

JAKARTA/TORONTO (Reuters) – An estimated 5,000 workers at the giant Grasberg copper mine operated by Freeport-McMoRan Inc’s Indonesian unit will extend their strike for a fourth month, a union official said on Friday, in an ongoing dispute over layoffs and employment terms.

After false dawn, Big Oil to double down on cost cuts

LONDON (Reuters) – After a brief respite at the start of the year, the world’s top oil and gas companies are set to double down on cost cutting as a recovery in crude prices after a three-year slump falters.

German carmakers may have colluded on diesel systems: Spiegel

FRANKFURT (Reuters) – Germany’s carmakers VW , BMW, Audi, Porsche may have colluded to fix the prices of diesel emissions treatment systems using industry committees, German magazine Der Spiegel reported on Friday.

Bank of America picks Dublin as EU base after Brexit

LONDON/DUBLIN (Reuters) – Bank of America on Friday became the first Wall Street lender to pick Dublin as its new base for its European Union operations as Britain prepares to leave the bloc.

GlaxoSmithKline’s new CEO prepares to trim drug pipeline

LONDON (Reuters) – GlaxoSmithKline’s new chief executive, who has already made her mark with plans to divest some nutritional products, will turn next week to the main business of focusing the company’s pipeline of new drugs.

Chinese courier ZTO sued for ‘untrue statements’ in $1.4 billion U.S. IPO

SHANGHAI (Reuters) – Chinese courier ZTO Express and the underwriters of its New York stock market listing have been sued by a U.S. pension fund that alleges the firm exaggerated its profit margins to lure investors into its $1.4 billion initial public offering.

Wanted: Housewives to beat staff crunch at Japan’s FamilyMart

TOKYO (Reuters) – Japan’s second-largest convenience store chain hopes it has found an answer to its labor problems – housewives.

UK sidelined as Europe looks beyond Brexit in aerospace

PARIS (Reuters) – Britain risks losing clout in the aerospace industry, one of its largest skilled employers, due to concerns over its departure from the European Union, a corporate overhaul at Airbus and a new Franco-German push on defense, industry insiders say.

Audi to recall 850,000 diesel cars to update emissions software

FRANKFURT (Reuters) – Luxury car maker Audi has launched a recall for up to 850,000 diesel-fueled cars to update vehicle software controlling emissions in a bid to avoid potential driving bans, it said on Friday.

French banks could create 1,000 jobs in Paris post-Brexit: lobby

PARIS (Reuters) – French banks could shift about 1,000 jobs currently based in London to Paris to keep staff in the European Union after Britain exits the EU, said the French Banking Federation.

Show and sell: shift in global ad spending boosts events firms

BENGALURU (Reuters) – Organizers of conferences and trade shows are benefiting from a shift in the way marketing budgets are allocated, with companies spending less on advertising and more on events that allow them to connect directly with customers.