Prosecutors drop appeal after ex-Porsche CEO cleared of market manipulation
BERLIN (Reuters) – German prosecutors on Thursday dropped an appeal against a court ruling that acquitted former Porsche SE chief executive Wendelin Wiedeking of market manipulation during a 2008-9 takeover battle with Volkswagen .
Fall in Volkswagen brand profit shows lasting effects of scandal
BERLIN (Reuters) – Volkswagen reported a 12 percent drop in quarterly profit at its main passenger car division on Thursday, a big improvement on the quarter before but showing the challenges it still faces to overcome its emissions scandal.
AstraZeneca helped by new drugs as cholesterol pill fades
LONDON (Reuters) – Generic competition to cholesterol buster Crestor in the U.S. market pushed second-quarter core earnings down by nearly a third at drugmaker AstraZeneca, which is now banking on new cancer medicines to revive its fortunes.
Roberto Cavalli names former Versace head as new CEO
MILAN (Reuters) – Italian fashion group Roberto Cavalli said on Thursday it had named former Versace head Gian Giacomo Ferraris as its new chief executive as it seeks to relaunch under a new owner.
Fed caution hits dollar as Japan anticipation builds
LONDON (Reuters) – The dollar took its biggest tumble in almost two months on Thursday and stocks crept to nine-month highs as cautious sounds from the U.S. Federal Reserve left the focus firmly on Japan’s next round of money-printing measures.
SoftBank first-quarter profit flat, signs of sharp Sprint recovery seen
TOKYO (Reuters) – SoftBank Group Corp reported flat first-quarter operating profit as solid earnings for its domestic telecommunications business offset losses at U.S. unit Sprint Corp .
Fosun agrees to buy KKR-backed Indian drugmaker for $1.4 billion: source
HONG KONG (Reuters) – Shanghai Fosun Pharmaceutical Group Co Ltd has agreed to buy Gland Pharma – backed by KKR & Co LP – for about $1.4 billion, a person with direct knowledge of the matter said, in India’s largest inbound acquisition this year.
Bytes and barrels: the origins of oil traders’ love of Yahoo
NEW YORK (Reuters) – For the oil industry, Yahoo Inc’s decision this week to sell its core business to Verizon Communications Inc for $4.8 billion does not matter all that much. Their world already changed a few months ago, when the company said it w…
U.S. consumer agency seeks to overhaul debt collection industry
WASHINGTON (Reuters) – The U.S. watchdog for consumer finances unveiled on Thursday a major proposal to toughen regulation of the multibillion-dollar debt collection industry, with a focus on keeping agencies from pushing people to pay debts they do no…
In clash of billionaires, Bloomberg calls Trump White House race ‘a con’
PHILADELPHIA (Reuters) – New York media mogul Michael Bloomberg assailed fellow billionaire Donald Trump on Wednesday, calling his U.S. presidential race a “con” and ripping into his history of bankruptcies and lawsuits.
