Ex-VW chairman sells Porsche SE stake to brother: Frankfurter Allgemeine
BERLIN (Reuters) – Former Volkswagen chairman Ferdinand Piech sold the bulk of his stake in the company that controls Europe’s biggest carmaker to his younger brother, Frankfurter Allgemeine Zeitung reported.
Twitter dips after co-founder says selling some of his shares
SAN FRANCISCO (Reuters) – Shares of Twitter dropped about 1 percent on Thursday after co-founder Ev Williams said he is selling a minority of his shares in the social media company, which has been losing ground to Facebook and other fast-growing rival…
Berkshire insurance unit sues Goodyear over asbestos claims
(Reuters) – An insurance unit of Warren Buffett’s conglomerate Berkshire Hathaway Inc said it has sued Goodyear Tire & Rubber Co to avoid having to cover asbestos-related injury claims that Goodyear said nothing about for seven years.
Exclusive: ECB calls for tougher regulation of foreign bank branches
VALLETTA (Reuters) – The European Central Bank has proposed that large branches of foreign banks in the European Union be subject to tighter regulation and capital requirements, a move that would increase U.S. and Asian lenders’ costs and also hit Brit…
Aetna exits Iowa individual insurance market for 2018
NEW YORK (Reuters) – Aetna Inc will exit Iowa’s Obamacare-compliant individual insurance market in 2018, a year surrounded by uncertainty over which insurers will sell plans and at what price as Republicans seek to dismantle the 2010 Affordable Care Ac…
Nestle says no visibility at this stage on future of L’Oreal stake
LAUSANNE, Switzerland (Reuters) – Nestle’s outgoing chairman said on Thursday he could not predict what Nestle would do with its 23 percent stake in French cosmetics group L’Oreal after the termination of an agreement between the Swiss food company a…
Former LendingClub CEO Renaud Laplanche launches new online lender
NEW YORK (Reuters) – Renaud Laplanche, who abruptly stepped down as CEO of LendingCLub Corp in May, has launched a new online lender called Upgrade, the company said on Thursday.
Comcast enters U.S. wireless business with unlimited data plans
NEW YORK (Reuters) – Comcast Corp , facing pressure in its core business, said on Thursday it is launching a wireless service with an unlimited data plan, making it the first major U.S. cable provider to enter the highly competitive wireless market.
Despite ‘challenging’ environment, GM CFO expects strong 2017
DETROIT (Reuters) – General Motors Co’s chief financial officer said on Thursday the automaker expects another “very strong year” in 2017 and reiterated the company’s earnings forecast for the year.
U.S. weekly jobless claims post largest drop in almost two years
WASHINGTON (Reuters) – U.S. job growth likely slowed in March after unseasonably mild weather boosted hiring over the prior two months, but the pace of gains should underscore the economy’s strength despite a recent slowdown in economic growth.
