Volkswagen Group earmarking $11.8 billion to develop, build China electric cars
GUANGZHOU/BEIJING (Reuters) – Volkswagen Group said on Thursday it plans to spend 10 billion euros ($11.8 billion) by 2025 to develop and manufacture all-electric and plug-in hybrid vehicles as it seeks to comply with upcoming stringent rules in China….
Mark Cuban says tax rates have almost no impact on investment
NEW YORK (Reuters) – Billionaire entrepreneur and potential presidential candidate Mark Cuban said on Wednesday that a cut in the U.S. corporate tax rate would have little to no effect on his investment decisions.
Mexico bristles at U.S. proposal that would benefit AT&T in NAFTA
MEXICO CITY (Reuters) – Mexico shot down a proposal by the United States to include provisions in the North America Free Trade Agreement that would benefit AT&T Inc , Mexico’s Economy Minister Ildefonso Guajardo said on Wednesday.
Narrow win for Fox shows restlessness with dual-class shares
LOS ANGELES/NEW YORK (Reuters) – A shareholder proposal calling for Twenty-First Century Fox Inc to scrap its dual-class share structure was rejected on Wednesday, although the measure received significant support among voters outside the controlling M…
Oil prices weighed down by rising U.S. supplies, but OPEC cuts prevent falls
SINGAPORE (Reuters) – Oil markets on Thursday were weighed down by rising U.S. crude production and inventories, but prices were prevented from falling by expectations that OPEC will extend an ongoing production cut during a meeting at the end of this …
Ackman sells Air Products, Nomad Foods positions, makes strong profit
NEW YORK (Reuters) – Activist investor William Ackman told his hedge fund clients on Wednesday that he liquidated positions in Air Products and Chemicals Inc and Nomad Foods Ltd, investments that earned them a lot of money.
Asia shares cautious as mood turns skittish
SYDNEY (Reuters) – Asian shares got off to a cautious start on Thursday after Wall Street stumbled despite upbeat U.S. economic news and the Treasury yield curve hit its flattest in a decade as investors priced in more U.S. rate hikes.
Trian’s Peltz claims win in proxy fight, P&G says not yet
(Reuters) – Activist hedge fund manager Nelson Peltz claimed victory in his fight to win a seat on Procter & Gamble Co’s board after a preliminary tally of votes was released on Wednesday, but P&G refused to concede and said it wants to see a certified result before declaring a winner.
Tezos organizers hit with second lawsuit over cryptocurrency fundraiser
(Reuters) – A second lawsuit was filed this week against the organizers of cybercurrency technology project Tezos, an initiative that raised $232 million to issue a cryptocurrency that does not exist and fund development of a transaction system that ha…
Wall Street falls with energy shares; tax angst weighs
NEW YORK (Reuters) – U.S. stocks fell on Wednesday as energy sector shares dropped for a fourth straight session, tracking crude prices, while a late run-up was thwarted by concerns over the passage of a tax revamp after Republican senators were critic…
