Munich prosecutors confirm arrest of Audi employee in emissions probe
FRANKFURT (Reuters) – Munich prosecutors arrested an Audi employee on suspicion of fraud and false advertising in connection with the carmaker’s emissions scandal, the first arrest in Germany related to Volkswagen’s diesel scandal.
Elliott Advisors makes fresh legal move against Akzo Nobel’s chairman
AMSTERDAM (Reuters) – Activist hedge fund Elliott Advisors has filed a second lawsuit in its attempt to oust the chairman of Dutch paints group Akzo Nobel over his rejection of a 26.3 billion-euro ($30 billion) takeover proposal from U.S. group PPG In…
Tesla wins giant battery contract in Australia, has 100-day deadline
SYDNEY (Reuters) – Tesla Inc has won an Australian contract to install the world’s biggest grid-scale battery, in what experts say will be a litmus test for the reliability of large-scale renewable energy.
U.S. job growth accelerates in June, wages continue to lag
WASHINGTON (Reuters) – U.S. job growth surged more than expected in June and employers increased hours for workers, signs of labor market strength that could keep the Federal Reserve on course for a third interest rate hike this year despite sluggish w…
Samsung Electronics tips record second-quarter profit as memory prices surge
SEOUL (Reuters) – Samsung Electronics Co Ltd on Friday said its second-quarter operating profit likely rose 72 percent from a year earlier to a new record, beating analyst estimates, as strong memory chip prices helped widen margins.
Oil prices fall more than 3 percent on signs market still oversupplied
NEW YORK (Reuters) – Oil prices fell more than 3 percent on Friday after data showed U.S. production rose last week just as OPEC exports hit a 2017 high, casting doubt over efforts by producers to curb global oversupply.
Risky assets on pause as U.S. jobs growth underpins hawkish Fed stance
LONDON (Reuters) – World stocks are poised to end the week at six-week lows in the face of oil weakness, a spike in bond yields and expected tighter monetary policy especially in the United States.
China urges GM, Mercedes-Benz and Volkswagen to recall cars with faulty air bags
SHANGHAI (Reuters) – China’s top quality watchdog has asked General Motors, Daimler’s Mercedes-Benz and Volkswagen to fulfill their obligations to recall vehicles in China affected by faulty Takata air bags, it said in a statement.
Google says its Drive service facing disruption
(Reuters) – Alphabet Inc’s Google Drive service is facing service disruption on Thursday, according to Google service status page.
U.S. seeks funds tied to North Korea from eight big banks
(Reuters) – U.S. authorities have tried to seize millions of dollars associated with several companies that deal with North Korea, including the country’s military, from eight large international banks, according to court filings made public on Thursda…
