U.S. trade panel opens patent probe into Volkswagen hybrid vehicles
WASHINGTON (Reuters) – The U.S. International Trade Commission on Wednesday said it launched an investigation into whether Volkswagen AG and its subsidiaries infringed hybrid electric vehicle patents owned by Baltimore-based Paice LLC.
Ex-JPMorgan, Citi FX sales employees sue banks
LONDON (Reuters) – A former London-based JPMorgan foreign exchange sales person is suing the Wall Street bank for unfair dismissal, according to a court filing released on Wednesday.
Oil steadies ahead of U.S. inventory data; Brent below $50
NEW YORK (Reuters) – Oil prices steadied on Wednesday, pausing from the 2016 highs hit in the previous session, as investors awaited government data on U.S. crude stockpiles that analysts said may be crucial in determining whether a two-day rally is ex…
Lowe’s sales beat estimates; shares hit record high
(Reuters) – Home improvement chain Lowe’s Cos Inc followed larger rival Home Depot Inc in reporting better-than-expected quarterly sales as strength in the U.S. housing market and favorable weather led to strong demand for building and home renovatio…
HK regulator says Alibaba broke takeover rules with ‘special deal’
HONG KONG (Reuters) – Hong Kong’s securities regulator said that Chinese e-commerce giant Alibaba Group Holding Ltd breached takeover rules in the purchase of a healthcare firm in 2014 because it also bought a company owned by the brother of the healt…
South Korea’s Hotel Lotte plans $4.9 billion IPO, year’s largest: sources
SEOUL (Reuters) – South Korea’s Hotel Lotte Co Ltd [HTLOT.UL] plans a share sale worth up to 5.7 trillion won ($4.85 billion) next month, sources said on Wednesday, in what would be the world’s biggest initial public offering since late 2015.
Suzuki says it used wrong fuel economy tests in Japan
TOKYO (Reuters) – Suzuki Motor Corp used the wrong methods to test the fuel economy of its cars in Japan, it said on Wednesday, widening a testing scandal that has already rocked smaller rival Mitsubishi Motors Corp .
China to support steel exports as U.S. imposes hefty tariffs
SHANGHAI/WASHINGTON (Reuters) – China said it would persist with controversial tax rebates to steel exporters to support the sector’s painful restructuring, defying a United States move to impose punitive import duties on Chinese steel products.
Volkswagen expresses frustration over pace of scandal inquiry
HAMBURG/LONDON (Reuters) – Volkswagen has expressed frustration about the slow pace of investigations into its emissions scandal, responding to demands from an activist shareholder for rapid reforms at the German carmaker.
Microsoft to sell feature phone business to Foxconn subsidiary, HMD Global
(Reuters) – Microsoft Corp said it is selling its entry-level feature phone assets to FIH Mobile Ltd and HMD Global Oy for $350 million.
