UK lawmakers demand more answers from VW over diesel scandal
LONDON (Reuters) – British lawmakers have written to Volkswagen seeking more answers from the German carmaker over the diesel emissions scandal, after criticizing the firm for failing to adequately respond to their queries so far.
Fannie, Freddie revamp plan unlikely this year, dividends in focus
WASHINGTON (Reuters) – An overhaul of Fannie Mae and Freddie Mac is highly unlikely to make it into this year’s legislative calendar, Congressional staffers say, possibly shifting the new administration’s immediate focus to allowing the mortgage financ…
Chinese supermarkets pull Brazil meat from shelves as food safety fears grow
BEIJING (Reuters) – Some of China’s largest food suppliers have pulled Brazilian beef and poultry from their shelves in the first concrete sign that a deepening scandal over Brazil’s meat processing industry is hitting business in its top export market…
Protectionism may raise, not cut, trade deficits: ECB
FRANKFURT (Reuters) – Protectionist trade policies may increase, rather than reduce, a country’s trade deficit, the European Central Bank said in a study on Wednesday, just days after finance chiefs of the world’s top 20 economies dropped their pledge …
Clearly no time for ECB to stop easy monetary policy: Villeroy
FRANKFURT (Reuters) – It is clearly not yet time for the European Central Bank to stop pursuing accommodative monetary policies, even as inflation is moving towards its target, French central bank chief Francois Villeroy de Galhau said on Wednesday.
Luxury goods group Hermes delivers record 2016 profit margin
PARIS (Reuters) – French luxury goods group Hermes said on Wednesday it was starting 2017 on a solid footing after delivering record 2016 profits, providing further evidence of a broader recovery in the luxury goods industry.
ING discloses criminal probe, says ‘significant’ penalties possible
AMSTERDAM (Reuters) – ING disclosed in its annual report published last week that it is being targeted by Dutch prosecutors in a criminal investigation into money laundering and corruption that could result in significant fines.
Airbnb embarks on China push with more staff, local name
SHANGHAI (Reuters) – U.S. short-term rental giant Airbnb Inc will triple its China staff this year as it targets the country’s millennial consumers, its chief executive said on Wednesday, even as the Silicon Valley firm faces competition from local riv…
China’s Geely doubles earnings as Volvo tech boosts sales
BEIJING (Reuters) – China’s Geely Automobile Holdings Ltd posted its biggest profit growth in eight years on Wednesday, as improved product design and engineering following its 2010 purchase of Sweden’s Volvo helped propel it to record sales.
Airbnb makes growth push in China with plans to double investment
SAN FRANCISCO (Reuters) – Airbnb, the online marketplace for short-term lodging, is expanding its business in China, hoping to spur growth in the world’s most populous country and a major tourist destination.
