U.S. banks’ post-election rally may be just an appetizer
NEW YORK (Reuters) – The U.S. banking sector’s dramatic rally post Election Day is likely just a taste of bigger gains to come, as investors expect banks to reap huge benefits from rising interest rates and lighter regulation under a Donald Trump presi…
South Korea prosecutors question heads of conglomerates in probe over political scandal: Yonhap
SEOUL (Reuters) – South Korean prosecutors have questioned the heads of some large conglomerates, including the chairman of Hyundai Motor , and plan to question the de factor head of Samsung Group and others in a probe into a political scandal involvi…
Toyota to settle U.S. truck rust lawsuit for up to $3.4 billion
(Reuters) – Toyota Motor Corp has agreed to a settlement of up to $3.4 billion for a federal class action brought by U.S. owners of pickup trucks and SUVs whose frames could rust through, plaintiffs lawyers have said in court papers.
Lego ends Daily Mail toy giveaway after protest on migrant coverage
COPENHAGEN (Reuters) – Danish toymaker Lego said on Saturday it would stop giving away free toys with Britain’s Daily Mail, following a campaign to stop advertising in newspapers accused of discrimination in their coverage of migrants.
Ford to resume 24-hour shift in Brazil plant, paper says
SAO PAULO (Reuters) – The Brazilian unit of Ford Motor Co plans to resume 24-hour production at its Camaçari, Bahia, plant, in a sign of optimism with Brazil’s economic recovery, O Estado de S. Paulo newspaper said on Saturday.
China says concerned about EU protectionism on steel imports
BEIJING (Reuters) – China is greatly concerned about the European Union’s protectionist measures against Chinese steel products, the commerce ministry said on Saturday.
Audi, SAIC Motor sign deal to weigh jointly making Audi cars in China: source
BEIJING (Reuters) – Audi AG and China’s SAIC Motor Corp have signed an agreement that will likely pave the way for the German luxury car maker to produce cars in China with SAIC, a person familiar with the matter told Reuters.
Alibaba posts record Singles’ Day sales, but growth slows
SHENZHEN, China (Reuters) – Alibaba Group Holding Ltd Singles’ Day festival posted a record 120.7 billion yuan ($17.73 billion) worth of sales on Friday, though the gala shopping day saw growth slow as Chinese shoppers searched for deeper discounts an…
Consumer drone business stumbles, but commercial markets beckon
SAN FRANCISCO (Reuters) – The fledgling drone industry is in the throes of change as weak consumer demand and falling prices drive startups to shift their focus to specialized business applications.
In wake of Trump win, focus may drift back to Fed and inflation
BENGALURU (Reuters) – After Donald Trump’s unexpected victory in the U.S. presidential election, investors may refocus in the coming week on the health of the world economy and any signs that years of rock-bottom interest rates and fiscal austerity are…
