Exclusive: Carmakers forced back to bigger engines in new emissions era
PARIS (Reuters) – Tougher European car emissions tests being introduced in the wake of the Volkswagen scandal are about to bring surprising consequences: bigger engines.
Monte dei Paschi board says CEO meets good repute criteria
SIENA (Reuters) – Italian bank Monte dei Paschi di Siena on Friday gave a clean bill of health to its newly appointed chief executive, Marco Morelli, saying he met good repute criteria for his position.
Exclusive: Deutsche Bank considers thousands more job cuts – source
FRANKFURT (Reuters) – Deutsche Bank’s finance chief told staff representatives last month that job cuts at the bank could be double that planned, a step that could remove 10,000 further employees, a person with direct knowledge of the matter told Reute…
Samsung flags $5.3 billion profit hit from Note 7 failure
SEOUL (Reuters) – Samsung Electronics Co Ltd on Friday said it expected to take a hit to its operating profit of about $3 billion over the next two quarters due to the discontinuation of its fire-prone Galaxy Note 7 smartphone.
Scandal-hit Wells Fargo’s quarterly profit falls 3.7 percent
NEW YORK (Reuters) – Wells Fargo & Co’s profit dropped for the fourth straight quarter as it set aside funds for potential legal costs from a bogus account scandal that cost former Chief Executive and Chairman John Stumpf his job.
Dozens of U.S. lawmakers request briefing on Yahoo email scanning
WASHINGTON (Reuters) – A bipartisan group of 48 lawmakers in the U.S. House of Representatives on Friday asked the Obama administration to brief Congress “as soon as possible” about a 2015 Yahoo program to scan all of its users’ incoming email at the…
Viacom hires financial advisers to explore CBS merger
(Reuters) – Viacom Inc said on Friday that it had hired financial advisers to explore a merger with CBS Corp following a proposal by Sumner Redstone’s National Amusements Inc, a majority shareholder of both companies.
Citigroup beats profit expectations on bond trading comeback
(Reuters) – Citigroup Inc, the fourth-biggest U.S. bank by assets, beat expectations for third-quarter net profit on Friday after trading revenue surged 35 percent.
Accused UK ‘flash crash’ trader to be extradited to U.S.
LONDON (Reuters) – A London-based trader accused of contributing to the 2010 Wall Street “flash crash” by placing bogus orders to spoof the market lost his legal bid to stop extradition on Friday and will now be sent to the United States to face trial….
JPMorgan beats third quarter forecast as trading roars back to life
(Reuters) – JPMorgan Chase & Co beat forecasts for revenues and profits on Friday as global bond and currency markets roared back to life in the third quarter following Britain’s vote to leave the European Union.
