Mitsubishi expects annual loss due to mileage cheating scandal: Kyodo
TOKYO (Reuters) – Mitsubishi Motors Corp expects to post a net loss this financial year over its mileage cheating scandal, hurt by compensation costs and a slide in vehicle sales, Kyodo news agency reported on Tuesday.
Wal-Mart rips up China online strategy, starts again with stake in Alibaba rival
NEW YORK/SHANGHAI (Reuters) – Wal-Mart Stores Inc has sold its Chinese online grocery store in return for a stake in the country’s no. 2 e-commerce firm, ripping up its previous strategy in efforts to cure ailing sales in one of the world’s toughest r…
Soros says pound fall after Brexit would be bigger, more disruptive than ‘Black Wednesday’
LONDON (Reuters) – George Soros, the billionaire who earned fame by betting against the pound in 1992, said that a British vote on Thursday to leave the European Union would trigger a bigger and more disruptive sterling devaluation than the fall on Bla…
Mitsubishi Motors sees annual net loss due to mileage scandal: Kyodo
TOKYO (Reuters) – Mitsubishi Motors Corp expects to post a net loss for the current financial year over its mileage cheating scandal, Kyodo news agency reported on Tuesday.
Bondholders file proposed class action against Volkswagen AG
(Reuters) – Boston Retirement System, the public pension fund for Boston municipal employees, filed the first bondholders proposed class action against Volkswagen AG related to the company’s diesel emissions scandal, law firm Labaton Sucharow LLP said…
Top U.S. official says more work needed on China investment rules
WASHINGTON (Reuters) – China’s latest proposed list of industries that would be off-limits to foreign investors shows more work is needed to agree on a new investment treaty with the United States, U.S. Commerce Secretary Penny Pritzker said in an inte…
Wall Street ends higher as Britain seen staying in EU
NEW YORK (Reuters) – Wall Street rose on Monday, though indexes ended far from the highs of the day, in a relief advance after indications that British voters later this week will choose to remain in the European Union.
Dell software deal flexes Elliott’s newly developed buyout muscle
NEW YORK/SAN FRANCISCO (Reuters) – Elliott Management Corp’s deal to acquire Dell Inc’s software assets shows how the U.S. hedge fund and prominent activist investor is stepping up its private equity practice, and positioning itself for more takeovers …
New York bill would ban Airbnb listings for some short-term rentals
NEW YORK (Reuters) – New York State has passed legislation that would ban Airbnb users from listing some short-term rentals, a move that represents a new line of attack by legislators against the company in one of its most important markets.
Sumner Redstone calls Viacom CEO claims ‘offensive’: filing
(Reuters) – Viacom Inc controlling stockholder Sumner Redstone called it “offensive and untrue” to suggest that he was unduly influenced by his daughter to remove Viacom Chief Executive Officer Philippe Dauman from a trust overseeing his shares, accor…
