GM to locate new Asia-Pacific headquarters in South Korea: government
SEOUL (Reuters) – General Motors has agreed to set up its Asia-Pacific headquarters in South Korea, in a further commitment by the U.S. automaker to its loss-making local unit, the government said on Thursday.
Anbang’s former chairman Wu Xiaohui jailed for 18 years: Xinhua
(Reuters) – A Chinese court has sentenced Wu Xiaohui, former chairman of Anbang Insurance Group Co Ltd, to 18 years in prison, China’s state media Xinhua news agency said on Thursday.
Samsung Group’s ownership structure unsustainable: South Korea antitrust chief
SEOUL (Reuters) – South Korea’s antitrust chief said on Thursday that South Korea’s No. 1 conglomerate Samsung Group’s [SAGR.UL] current ownership structure is not sustainable.
RBS reaches $4.9 billion deal to settle U.S. mortgage bond probe
BOSTON/WASHINGTON (Reuters) – Royal Bank of Scotland Group Plc said on Wednesday it had agreed to pay $4.9 billion to resolve a U.S. Department of Justice probe into its structuring and sale of mortgage-backed securities ahead of the 2008 financial cr…
Oil prices hit highest in years as markets adjust to looming sanctions on Iran
SINGAPORE (Reuters) – Oil prices clocked up more multi-year highs on Thursday as traders adjusted to the prospects of renewed U.S. sanctions against major crude exporter Iran amid an already tightening market.
Asia stocks rise as crude oil extends rally on Iran worries
TOKYO (Reuters) – Asian stocks rose on Thursday, with energy shares leading the way as crude oil prices bolted higher after U.S. President Donald Trump’s decision to pull out of a nuclear deal with Iran.
Sears shares soar on Amazon tie-up; CEO says still not over ‘hump’
HOFFMAN ESTATES, Ill. (Reuters) – Sears Holdings Corp shares jumped 16 percent on Wednesday after the company announced a tire service partnership with Amazon.com, part of Chief Executive Officer Edward Lampert’s strategy to make the troubled retailer …
Twenty-First Century Fox revenue beats as cable sees highest earnings ever
(Reuters) – Twenty-First Century Fox Inc’s , the media and entertainment company controlled by Rupert Murdoch, reported quarterly revenue that beat analysts’ estimate on Wednesday, as higher fees from cable and satellite distributors drove cable busine…
China’s ZTE says main business operations cease due to U.S. ban
HONG KONG (Reuters) – ZTE Corp’s main business operations have ceased due to a ban imposed by the U.S. government, but China’s second biggest telecom equipment maker is trying to have the ban modified or reversed, it said on Wednesday.
Ex-Wall Street law clerk gets 37 months prison in insider case
(Reuters) – A former clerk at the Wall Street law firm Simpson Thacher & Bartlett was sentenced on Wednesday to 37 months in prison for his role in an insider trading ring that passed merger tips on napkins and Post-it notes in New York’s Grand Central Terminal.
