No. 1 U.S. utility PG&E prepares bankruptcy filing after California wildfires
PG&E Corp , owner of the biggest U.S. power utility by customers, said on Monday it is preparing to file for Chapter 11 bankruptcy protection as soon as this month amid pressure from potentially crushing liabilities linked to California’s catastrophic wildfires in 2017 and 2018.
FedEx pays $35.4 million to end NY lawsuit over illegal cigarettes
FedEx Corp will pay $35.4 million to settle three lawsuits in which New York state and New York City accused the company of shipping millions of untaxed cigarettes to residents over a decade.
HSBC settles forex deals worth $250 billion on blockchain in last year
HSBC has settled $250 billion worth of forex trades using blockchain in the last year, it said on Monday, suggesting the heavily hyped technology is gaining traction in a sector until now hesitant to embrace it.
Fiat Chrysler reviews Italy plan after new taxes on polluting cars
Fiat Chrysler is reviewing its 5 billion euro ($5.74 billion) investment plan for Italy after the country approved measures slapping taxes on the purchase of larger petrol and diesel cars, Chief Executive Mike Manley said on Monday.
Nissan CEO appeals to Renault board to review Ghosn findings
Nissan believes alliance partner Renault’s board will back its decision to oust Chairman Carlos Ghosn when it sees details of the Japanese carmaker’s investigation into his alleged misconduct, Chief Executive Hiroto Saikawa said in a newspaper interv…
Wall Street slips after China data reignites global slowdown worries
Technology shares pulled Wall Street lower on Monday, after an unexpected drop in China’s exports in December reignited worries of a slowdown in global economic growth.
Wells Fargo settles SEC lawsuit over Curt Schilling’s 38 Studios
Wells Fargo & Co agreed to settle a U.S. Securities and Exchange Commission fraud lawsuit related to a $75 million bond offering for 38 Studios Inc, a now-bankrupt video game company founded by former All-Star major league baseball pitcher Curt Schilling.
FedEx pays $35.3 million to end NY lawsuit over illegal cigarettes
FedEx Corp will pay $35.3 million to settle lawsuits in which New York state and New York City accused the company of shipping millions of untaxed cigarettes to residents over a decade.
Airbus seeks hefty cost cuts for Canadian A220 jet
Europe’s Airbus is looking for a “significant double-digit” percentage reduction in costs for a recently acquired Canadian jet program, as it expands production capacity to cope with anticipated demand for the former Bombardier jet.
Weak China trade hits world stocks, causes risk-off trade
World stock indexes fell while the yen rose against the dollar on Monday after a shock contraction in Chinese trade reignited fears of a sharper slowdown in global growth and caused investors to sell riskier assets.
