Lotte Group Chairman Shin Dong-bin relinquishes management rights at Japanese holding company
SEOUL (Reuters) – Lotte Group Chairman Shin Dong-bin has relinquished his representative rights at a key Japanese holding company, the Japanese company announced on Wednesday.
Slowing U.S. auto sales prompts Japan automakers to rethink discounts
TOKYO (Reuters) – A second year of slowing growth in the U.S. auto market is forcing Japanese automakers to look beyond discounts to grow market share and focus more on boosting profitability in their largest market.
Apple in talks to buy cobalt directly from miners: Bloomberg
(Reuters) – Apple Inc is in talks to buy long-term supplies of cobalt for iPhone batteries directly from miners, Bloomberg reported on Wednesday, citing sources.
Union says it will strike if GM plans full South Korea exit
SEOUL (Reuters) – General Motors’ South Korean workers will go on a full strike if the U.S. automaker decides to completely pull out of the country, its union head told Reuters on Wednesday, adding he does not rule out the possibility GM might leave.
Asian stocks gain, dollar extends recovery
TOKYO (Reuters) – Asian stocks gained on Wednesday, while the dollar advanced as traders near-term focus shifted to the minutes of the Federal Reserve’s last policy meeting for hints on the future pace of U.S. monetary tightening.
Volkswagen, German union IG Metall reach wage agreement
FRANKFURT (Reuters) – Carmaker Volkswagen and labor union IG Metall reached a wage agreement for more than 120,000 workers in Germany in a fourth round of talks, the union said on Wednesday.
GM proposes $2.8 billion, 10-year investment in South Korea: government official
SEOUL, Feb 21 (Reuters) – General Motors (GM) has proposed an investment of $2.8 billion into its loss-making South Korean operations over the next 10 years and has asked Seoul to provide its share of the funds, a South Korean government official said…
US FDIC sues 16 banks alleging Libor manipulation in Doral collapse
(Reuters) – A U.S. regulator on Tuesday filed a lawsuit against 16 U.S. and international banks alleging they had manipulated bbaLIBOR, which is a series of interest-rate benchmarks, leading to the collapse of Puerto Rico’s Doral Bank.
HNA property unit pledges 41 percent stake as collateral for loan
HONG KONG (Reuters) – A HNA Group unit said it has pledged about 41 percent of the company as collateral for a loan from a Hong Kong private equity firm, part of a slew of fundraising efforts by the Chinese conglomerate to address a liquidity crunch.
Asian stocks led higher by Japan as dollar extends recovery
TOKYO (Reuters) – Japanese shares led Asian markets higher after a weak start on Wednesday, with Japanese export focused companies attracting investors as the dollar gained against the yen thanks to U.S. Treasury debt yields hovering near highs not see…
