Canadian prosecutors propose $196.5 million fine against Volkswagen for diesel violations
Prosecutors in Canada on Wednesday proposed a $196.5 million (CAD) ($258.3 million) fine against Volkswagen AG after the company pleaded guilty to dozens of counts of diesel emissions violations, a company spokesman confirmed.
Boeing CEO says taking fresh look at potential mid-market aircraft
Boeing Co is taking a fresh look at a potential new mid-market aircraft, Chief Executive Dave Calhoun said on Wednesday, putting the brakes on a project that became overshadowed by the fallout of the 737 MAX.
Lebanon’s new government may have little reserves left to stabilize economy
Lebanon’s new government faces huge upcoming debt repayments and a currency peg at breaking point, but it may already have run out of the hard cash firepower it needs to tackle these problems.
Stocks edge up as China virus worries abate; oil drops
World stock markets bounced back on Wednesday, even as deaths from China’s new virus rose to 17, while oil prices tumbled as a market surplus forecast alleviated supply concerns.
Oil slides 2% as glut forecast, China virus overshadow Libya disruption
Oil prices fell more than 2% on Wednesday as a market surplus forecast by the International Energy Agency (IEA) and demand worries amid the outbreak of a virus in China outweighed concern over disruptions to Libya’s crude output.
S&P 500, Nasdaq on track for record closing highs
Wall Street rebounded on Wednesday as a healthy forecast from IBM enticed buyers back to the equity market while investors kept a wary eye on the developing coronavirus outbreak.
Canada prosecutors say fraud at heart of Huawei CFO Meng’s U.S. extradition case
Huawei Chief Financial Officer Meng Wanzhou returned to a Vancouver courtroom on Wednesday where Canadian prosecutors defended a U.S. extradition request, saying Meng’s alleged bank fraud is the heart of the case that has strained relations between Ott…
Lab-grown meat producer Memphis Meats raises $161 million in funding led by SoftBank
Lab-grown meat producer Memphis Meats said on Wednesday it raised $161 million in a funding round led by Japan’s SoftBank Group , Singapore’s wealth fund Temasek Holdings and Norwest Venture Partners.
U.S. stocks correction overdue, Bloomberg best placed to beat Trump: Scaramucci
U.S. stocks are headed higher, although a 10% correction is “long overdue”, Anthony Scaramucci, founder and co-managing partner of Skybridge Capital, said on Wednesday.
Boeing CEO says he expects to resume 737 MAX production before mid-year
Boeing Chief Executive Dave Calhoun told reporters on Wednesday the U.S. planemaker expects to resume 737 MAX production months before its forecasted mid-year return to service and said it did not plan to suspend or cut its dividend.
