IMF, World Bank, U.N., OECD form new group to stop tax erosion
WASHINGTON (Reuters) – The International Monetary Fund and the World Bank said on Tuesday they are joining forces with other international organizations to cooperate on tax issues and develop new tools and standards to halt tax base erosion and evasion…
Big U.S. banks grapple with costs as they face an ominous 2016
(Reuters) – Five large U.S. banks cut more than $5 billion from their expenses during the first three months of the year, but it was still not enough to stop the financial bleeding in what was by many measures the worst quarter for Wall Street since th…
Undelivered Airbus jets jam parking spaces, hurt cash flow
PARIS (Reuters) – A growing backlog of undelivered Airbus passenger jets, stranded outside their factories due to supplier problems, is putting pressure on the planemaker’s cash generation for the start of the year, industry sources and analysts said.
Temp workers at small Ohio auto supplier plant join UAW: union
(Reuters) – Detroit Chassis, a company that supplies axles to Ford Motor Co, agreed to let temporary workers at an Ohio plant join the United Auto Workers union after they threatened a strike that could have hit production of large Ford pickup trucks a…
VW ‘Dieselgate’ software developed at Audi in 1999: report
BERLIN (Reuters) – German carmaker Audi created so-called defeat devices which cut emissions in 1999, years before parent company Volkswagen (VW) used them to cheat diesel emissions tests, German newspaper Handelsblatt reported on Tuesday.
Exclusive: Iran struggles to find enough ships for oil exports
LONDON (Reuters) – Iran faces a struggle to increase oil exports because many of its tankers are tied up storing crude, some are not seaworthy, and foreign shipowners remain reluctant to carry its cargoes.
Teamsters recommends members approve new Costco contract
(Reuters) – Teamsters unions representing 16,000 workers of Costco Wholesale Corp recommended their members approve a new contract offer from the retailer, a month after urging they reject an earlier proposal due to a long-running disagreement over pe…
J&J shares hit new high on strong drug sales, weaker dollar
(Reuters) – Johnson & Johnson beat quarterly earnings forecasts on strong prescription drug revenue and a weakening dollar, and it reassured investors that it did not expect its blockbuster Remicade arthritis drug to face U.S. competition this year.
Who speaks for Saudi Arabia on oil, rivals and allies wonder
MOSCOW/DOHA (Reuters) – As far as Venezuelan oil minister Eulogio Del Pino is concerned, his counterpart Ali al-Naimi, the world’s most influential oil official for the past two decades, is no longer the voice of authority for Saudi Arabia.
Exclusive: How ChemChina tried to gatecrash Shell’s BG mega-deal
LONDON (Reuters) – Chemical giant ChemChina [CNNCC.UL] approached BG Group with a possible bid late last year, just as Royal Dutch Shell was preparing to close a $52 billion deal to buy the British energy company, seven banking and industry sources wi…
