Four senior executives leave AutoNation amid restructuring, bleak outlook
(This January 7 story corrects headline to clarify four senior executives are leaving the company, not its four top executives.)
Questions linger over Deripaska’s Rusal influence after U.S. deal
The U.S. Treasury believes it can curb the influence of Oleg Deripaska over aluminum giant Rusal despite concerns the Russian oligarch may still be able to pull the strings of his business empire from behind the scenes.
Australia vows to clean up financial sector after landmark misconduct inquiry
A special government-appointed inquiry excoriated Australia’s financial sector for misconduct on Monday, referring two dozen cases to regulators for possible legal action but leaving the structure of the country’s powerful banks in place.
Australian Treasurer says bank inquiry to end industry uncertainty
Australian Treasurer Josh Frydenberg on Monday said the final report of a wide-scale inquiry into the banking system would end uncertainty hanging over an industry that was “a key artery” of the economy through the provision of credit.
Australia bank inquiry does not recommend individual criminal charges
A powerful public inquiry into Australia’s finance industry referred 24 instances of bad corporate behavior to regulators for possible prosecution but did not suggest any individuals be criminally prosecuted in its final report released on Monday.
Asia shares steady, dollar firm after upbeat U.S. job data
Asia stocks hovered near four-month highs on Monday after a mixed performance on Wall Street at the close of last week, while the dollar firmed against the yen following strong U.S. employment and manufacturing data.
Wirecard says law firm found no findings of criminal misconduct
Wirecard on Monday said that an external law firm it brought in to investigate actions by a member of its finance team in Singapore made no conclusive findings of criminal misconduct by any employee of the company.
Australia to overhaul regulators after landmark banking inquiry
Australia’s corporate regulators will be subjected to a new oversight body in a shake-up of the banking sector recommended on Monday by a high-powered independent inquiry into financial sector greed and malpractice.
Australian banking inquiry recommends new watchdog for regulators
Australia’s corporate and prudential regulators must undergo regular, rigorous assessments under an independent oversight body, a powerful review of the country’s banking sector recommended in its long-anticipated final report on Monday.
Japan insurers to target China M&A in new phase after $50 billion overseas push
Japanese insurance companies have spent more than $50 billion on acquisitions over the past five years to become the world’s second-largest buyer of insurance assets, and the deals spree won’t be slowing down any time soon.
