Exclusive: VW’s $1.8 billion Ducati sale stalls at union roadblock, strategy rift
LONDON/MILAN/BERLIN (Reuters) – German carmaker Volkswagen has put the 1.5 billion-euro ($1.8 billion) sale of Ducati motorcycles on hold after resistance from German trade unions and internal rifts on strategy, sources familiar with the matter told R…
WTO reverses Boeing 777X tax credit ruling in blow to EU
PARIS/GENEVA (Reuters) – The World Trade Organization has reversed a ruling that Boeing received prohibited support for its newest aircraft, dealing a blow to the European Union in its long-running row with the United States over subsidies.
Stocks dip, yen and gold gain after North Korea test
LONDON (Reuters) – Stocks and the dollar fell on Monday while the Japanese yen, gold and sovereign bonds rose after North Korea’s most powerful nuclear test to date dampened investor appetite for risk.
EU approves insolvent Air Berlin’s 150 million euro lifeline
FRANKFURT (Reuters) – The European Commission on Monday approved a German bridging loan for Air Berlin that will keep the insolvent airline’s planes flying while it tries to find buyers for its assets.
WTO reverses ruling against Boeing 777X tax credits
GENEVA/PARIS (Reuters) – The World Trade Organization delivered a setback to the European Union in a long-running trade row with the United States over aircraft subsidies on Monday, reversing a ruling that Boeing had received prohibited support for its…
Novartis names drugs chief as CEO to deliver return to growth
ZURICH (Reuters) – Novartis CEO Joe Jimenez will step down on Feb. 1 and hand over to drug development chief Vas Narasimhan to decide the fate of $50 billion in assets and make good on a pledge to return the Swiss company to sales growth.
Merkel backs class-action lawsuits for diesel car owners
BERLIN (Reuters) – Chancellor Angela Merkel’s support for collective lawsuits could force Volkswagen to offer to compensate owners of diesel cars in Germany as it has done in the United States over manipulated emissions tests.
Trial of former Tesco executives adjourned to Sept. 25
LONDON (Reuters) – The trial of three former senior executives at Tesco accused of fraud and false accounting was adjourned on Monday until Sept. 25.
Bangladesh central bank sends team to Manila to push for heist money recovery
DHAKA (Reuters) – Bangladesh’s central bank will send a team of officials to the Philippines on Tuesday to push for the recovery of more of the $81 million stolen from its account at the New York Federal Reserve last year and routed through a bank in M…
U.S. gasoline prices tumble as Harvey subsides
LONDON (Reuters) – Benchmark U.S. gasoline prices slumped on Monday to pre-Hurricane Harvey levels as oil refineries and pipelines in the U.S. Gulf Coast slowly resumed activity, easing supply concerns.
