Volkswagen to cut 30,000 jobs
WOLFSBURG, Germany (Reuters) – Volkswagen and its labor unions agreed to cut 30,000 jobs at the core VW brand in exchange for a commitment to avoid forced redundancies in Germany until 2025, a compromise which leaves the carmaker’s profitability still…
Nomura, RBS appeal U.S. judge’s $839 million mortgage bond award
NEW YORK (Reuters) – A U.S. appeals court appeared unlikely on Friday to overturn an order requiring Nomura Holdings Inc and Royal Bank of Scotland Group Plc to pay $839 million for making false statements while selling mortgage-backed securities to …
Fantasy sports arch rivals DraftKings, FanDuel to merge
SAN FRANCISCO (Reuters) – The two biggest U.S. fantasy sports companies DraftKings and FanDuel said on Friday they would merge to cut legal bills and advertising spending after tussling for years to win customers.
Dollar index set for biggest two-week rise in 20 months
NEW YORK (Reuters) – The dollar rose to its highest level since April 2003 against a basket of currencies on Friday and was on track for its largest two-week increase since March 2015, as traders piled bets on a massive dose of fiscal stimulus under a …
Fiat Chrysler teams up with Amazon to sell cars online
MILAN (Reuters) – Fiat Chrysler Automobiles (FCA) said it has teamed up with U.S. internet giant Amazon to start selling cars online offering an additional discount.
Novartis backs off from 2016 date for testing Google autofocus lens
ZURICH (Reuters) – Novartis has abandoned a 2016 goal to start testing its autofocus contact lens on people, though it said the groundbreaking product it is making with internet giant Google is “progressing steadily.”
China files appeal in U.S. anti-dumping case: WTO
GENEVA (Reuters) – China has filed an appeal against a ruling by the World Trade Organization (WTO) in a dispute over methodologies used by the United States to calculate anti-dumping tariffs targeting Chinese imports, a WTO statement said.
Mexico’s market carnage spawns buying opportunities, investors say
NEW YORK/LONDON (Reuters) – A little more than a week after Donald Trump’s surprise election victory, a growing number of emerging market fund managers are saying a selloff in Mexican assets may represent a buying opportunity.
Brookfield Asset proposes to take 50-60 percent stake in TerraForm Power
(Reuters) – Brookfield Asset Management Inc proposed on Friday to take a 50-60 percent stake in bankrupt solar company SunEdison Inc unit TerraForm Power Inc , a week after it expressed interest in buying the “yieldco”.
Exclusive: Glencore seeks $550 million to raise stakes in Kurdish oil game
LONDON (Reuters) – Glencore is seeking to raise $550 million from investors via a debt issue guaranteed by oil from Iraqi Kurdistan in an attempt to secure a big slice of the high-risk – and high-reward – market in a region at war with Islamic State.
