GM recalls 1,750 midsize pickup trucks, sedans on air bag concerns
DETROIT (Reuters) – General Motors Co said on Wednesday it has issued a stop-sales order and recalled about 1,750 new-model Chevrolet Colorado and GMC Canyon pickup trucks and Chevrolet Malibu sedans in the United States and Canada because of potential…
Markets betting on near-zero interest rates for another decade
LONDON (Reuters) – World markets may have recovered their poise from a torrid start to the year, but their outlook for global growth and inflation is now so bleak they are betting on developed world interest rates remaining near zero for up to another …
Deutsche Bank and UBS lose $200 million UK bonus tax case
LONDON (Reuters) – The UK Supreme Court has ruled a “contrived” scheme used by Deutsche Bank and UBS UBSG.S> to allow the banks and their bankers to escape 135 million pounds ($192 million)in tax on bonuses was unlawful.
BMW 2015 results beat as dividend proposal lags
FRANKFURT (Reuters) – German carmaker BMW reported a better than expected operating profit on Wednesday thanks to healthy sales of high-margin sports utility vehicles, but disappointed on the dividend.
Valeant gives Pershing Square a seat on its board
(Reuters) – Valeant Pharmaceuticals International Inc , under scrutiny for its accounting and business practices, said it had given shareholder Pershing Square Capital Management a seat on its board and added two additional directors.
Exclusive: Saudi Arabia seeks $6-8 billion bank loan to shore up state coffers
DUBAI (Reuters) – Saudi Arabia is seeking a bank loan of between $6 billion and $8 billion, sources familiar with the matter told Reuters, in what would be the first significant foreign borrowing by the kingdom’s government for over a decade.
Liquor baron Mallya, under pressure from banks, leaves India
NEW DELHI (Reuters) – Indian liquor baron Vijay Mallya, under pressure from banks to repay more than $1 billion of debt owed by his collapsed airline, left the country last week, a lawyer for the lenders told the country’s top court.
Renzi-Hollande comments fuel cross border telecom tie-up talk
MILAN (Reuters) – Shares in Telecom Italia rose on Wednesday after Italian and French leaders said they wanted to create major companies that can compete in Europe, fuelling market talk of possible combinations in the telecoms sector.
Canon closes in on Toshiba’s medical unit after fierce bidding
TOKYO (Reuters) – Toshiba Corp has granted Canon Inc exclusive negotiating rights for its medical equipment unit after a hotly contested auction, with a report putting Canon’s offer at more than $6 billion.
Sharp’s banks set to offer additional aid as part of Foxconn deal: source
TOKYO (Reuters) – Sharp Corp’s two main banks are set to lower interest rates on billions of dollars in loans and offer other financial support as part of a planned takeover by Taiwan’s Foxconn, a source with direct knowledge of the plan said.
