VW trucks division targets significant profitability gain in 2017
MUNICH (Reuters) – Volkswagen’s truck division is targeting a significant increase in profitability this year as it benefits from rising demand in Europe and China and a slight rebound in the key Brazilian market, its finance chief said.
Wall Street drifts lower; investors worry about tax-cut delay
(Reuters) – Wall Street drifted lower on Monday as investors worried that President Donald Trump’s plan to cut taxes and boost the economy could take longer than previously expected.
UBS faces French trial over long-running tax case
ZURICH (Reuters) – UBS and its French subsidiary face a trial in France after authorities laid out charges against the Swiss bank, marking an escalation of a long-running probe into allegations they helped wealthy clients avoid taxes.
Elderly founder of South Korea’s Lotte Group denies charges in dramatic start to graft trial
SEOUL (Reuters) – The 94-year-old founder of Lotte Group, South Korea’s fifth-largest conglomerate, threw his cane to the floor of a court on Monday and demanded to know where he was on the first day of a trial of him and family members.
China prepares to counter any U.S. trade penalties: sources
BEIJING (Reuters) – China’s government has been seeking advice from its think-tanks and policy advisers on how to counter potential trade penalties from U.S. President Donald Trump, getting ready for the worst, even as they hope for business-like negot…
French watchdog clears GM’s Opel of cheating on diesel emissions
PARIS (Reuters) – France’s consumer fraud watchdog said on Monday it had closed its investigation into diesel emissions by Opel cars and would take no further action against the General Motors brand.
Saudi king’s Asia tour trumpets Aramco’s moves downstream
SINGAPORE (Reuters) – Saudi King Salman’s lavish tour of Asia, arriving in each country on a golden escalator with 400 tonnes of luggage, had a hardnosed marketing mission – to cement the kingdom’s place as leading oil supplier to the world’s biggest c…
NBA’s Chris Paul, other celebrity athletes, invest for an impact
NEW YORK (Reuters) – Giving back to their communities has always been a challenge for pro athletes who get rich quick, because they tend to lose the money even more quickly. But even those who manage to build a substantial amount of wealth have a hard …
G20 ministers give Mnuchin space to define Trump trade agenda
BADEN BADEN, Germany (Reuters) – Wary of their first official encounter with U.S. President Donald Trump’s blustery trade agenda, the world’s top finance officials were relieved to find new Treasury Secretary Steven Mnuchin polite and business-like ove…
IBM launches enterprise-ready blockchain service
NEW YORK (Reuters) – International Business Machines Corp has launched a service that will allow businesses to build applications on its cloud using blockchain code from the Hyperledger Project, the cross-industry group led by the Linux Foundation.
