Samsung on track to take Intel’s chip crown with record second-quarter earnings
SEOUL (Reuters) – Samsung Electronics Co Ltd is expected to report its best-ever quarterly profit in the second quarter, with soaring memory chip sales pushing it past Intel Corp as the biggest semiconductor maker by revenue for the first time.
Canadian auto sales jump in June, racking up another record
OTTAWA (Reuters) – Canadian auto sales set another record in June, making for a solid performance in the first half of the year as customer demand for light trucks was strong, despite a decline in passenger car sales, data showed on Tuesday.
Exclusive: Saba Capital, famed for ‘London Whale’ bet, to shut London office – sources
LONDON (Reuters) – New York-based Saba Capital Management, famed for its winning bet against the JPMorgan Chase trader known as the ‘London Whale’, is closing its office in London’s Mayfair district, two sources close to the situation told Reuters.
Pfizer receives token payment to exit Brazil venture, sources say
SAO PAULO (Reuters) – Pfizer Inc has agreed to exit Laboratório Teuto Brasileiro SA for a token amount after failing to find a buyer for the 40 percent stake it held in the Brazilian generic drugmaking joint venture, two people with knowledge of the matter said on Tuesday.
U.S. government seeks to intervene in Apple’s EU tax appeal: source
WASHINGTON (Reuters) – The U.S. government has sought to intervene in Apple’s appeal against an EU order to pay back up to 13 billion euros ($14.8 billion) in Irish taxes, a source familiar with the matter said on Tuesday.
Exclusive: Italian court to hear $3 billion claim against Morgan Stanley – source
ROME (Reuters) – Italian prosecutors have decided to take Morgan Stanley to court over allegations that the U.S. bank caused 2.7 billion euros ($3.1 billion) in losses to the state in relation to derivative transactions, a source familiar with the mat…
New EU court blow to Uber over French taxi case
BRUSSELS (Reuters) – Uber [UBER.UL] suffered a new setback in Europe on Tuesday when a European Union court adviser said France was entitled to charge local managers of the U.S. ride-hailing app firm with running an illegal taxi service.
VW to start importing cars to Iran in August with partner Mammut Khodro
BERLIN (Reuters) – Volkswagen will start importing cars to Iran next month, returning to the resurgent Middle Eastern market after 17 years in a move that may help the German group trim reliance on volatile overseas markets such as China and Brazil.
Corvex, NYC investment group seek to scuttle Clariant-Huntsman deal
ZURICH (Reuters) – Activist investor Keith Meister’s Corvex hedge fund and New York’s 40 North have taken a 7.2 percent stake in Clariant to fight the Swiss chemical maker’s planned merger with Huntsman Corp .
Black gold: India tax hike could boost illegal bullion, jewelry sales
MUMBAI (Reuters) – A hike in taxes on gold sales in India could stoke under-the-counter buying and drive up appetite for precious metal smuggled into the country, where millions of people store big chunks of their wealth in bullion and jewelry.
