California sues Morgan Stanley over mortgage losses
(Reuters) – The state of California sued Morgan Stanley on Friday, accusing the bank of hiding the risks of complex mortgage debt and other securities it sold, causing big losses for the state’s public pension funds, CalPERS and CalSTRS.
Firming U.S. jobs market lures discouraged workers
WASHINGTON (Reuters) – U.S. employment increased strongly in March, underscoring the economy’s resilience, but an influx of Americans into the labor market could temper nascent wage growth and keep the Federal Reserve cautious about further interest ra…
Automakers post disappointing U.S. sales, still see strong 2016
DETROIT (Reuters) – General Motors Co , Fiat Chrysler Automobiles and other major automakers reported weaker-than-expected U.S. sales for March, hurt by declining demand for sedans and light dealer traffic during the Easter weekend.
HSBC comes up short in money laundering vigilance, U.S. says
NEW YORK (Reuters) – HSBC Holdings Plc has not done enough to thwart money laundering, despite making significant progress since reaching a landmark 2012 anti-money-laundering settlement with U.S. prosecutors, a federal monitor has found.
Exclusive: Brazil’s Vale mulls sale of Thyssenkrupp steel venture stake
NEW YORK/SAO PAULO (Reuters) – Brazilian iron ore miner Vale SA is finalizing a proposal to sell its 26.87 percent stake in a steel slab plant that cost nearly $10 billion to build to Germany’s Thyssenkrupp for $1 plus the assumption of some debt, a source close to the deal said.
Orange and Bouygues $11.4 billion French telecoms deal collapses
PARIS (Reuters) – A proposed deal between state-controlled telecoms group Orange and Bouygues to create France’s biggest telecoms operator collapsed on Friday, ending an attempt to ease a price war that has ravaged their margins.
Tesla, buoyed by strong Model 3 orders, may need more cash
(Reuters) – An initial flurry of orders has put Tesla Motors’ new Model 3 sedan off to a fast start, but the company may need to raise more cash if it hopes to deliver the new electric vehicle to customers on time, analysts said on Friday.
VW recalls 91,000 Passat sedans in U.S. to fix cable insulation
FRANKFURT (Reuters) – Volkswagen is recalling 91,000 Passat sedans in the United States to fix insufficient cable insulation that could cause short circuits, it said on Friday.
Global stocks outlook tempered again after first quarter’s wild gyrations
(Reuters) – The rout in global stock markets earlier this year has dented optimism among even the most bullish of equity market analysts polled by Reuters, who now reckon only half of around 20 major stock markets will gain in the year
BlackBerry revenue sinks on smartphone weakness; shares slump
TORONTO (Reuters) – BlackBerry Ltd shares sank on Friday after it reported a larger-than-expected slide in fourth-quarter revenue which it blamed partly on disappointing sales of its new Android-based Priv smartphone.
