New market storm could catch euro zone unprepared
PARIS (Reuters) – Distracted by an unresolved migration crisis and negotiations on keeping Britain in the European Union, euro zone leaders could be caught unprepared by a new storm on financial markets.
Japan’s Sharp to vote on rival takeover bids on Thursday: sources
TOKYO (Reuters) – Sharp Corp plans to choose between rival rescue offers as soon as Thursday, as a favoured bid from Taiwan’s Foxconn continues to be challenged by a Japanese state-backed investment fund, people with direct knowledge of the matter said…
Saudi oil minister to face rival U.S. producers as price rout bites
HOUSTON (Reuters) – This week, Saudi Oil Minister Ali Al-Naimi will for the first time face the victims of his decision to keep oil pumps flowing despite a global glut: U.S. shale oil producers struggling to survive the worst price crash in years.
Volvo Cars recalls 59,000 cars over software fault
STOCKHOLM (Reuters) – Geely-owned carmaker Volvo Car Group said on Saturday it was recalling 59,000 cars after some owners experienced their engines stopping and restarting while they were driving.
U.S., Apple ratchet up rhetoric in fight over encryption
WASHINGTON (Reuters) – The U.S. Department of Justice filed a motion on Friday seeking to compel Apple Inc to comply with a judge’s order to unlock the encrypted iPhone belonging to one of the San Bernardino shooters, portraying the tech giant’s refusa…
Yahoo launches auction process as Starboard gears up for fight
(Reuters) – Yahoo Inc officially launched the sale of its core business on Friday, a move seen as a positive step for frustrated investors but not enough to keep an activist hedge fund from pursuing a proxy fight against the struggling Internet company…
U.S. overtakes France to become Germany’s top trading partner
BERLIN (Reuters) – The United States became the top destination for German exports last year, overtaking France for the first time since 1961 thanks to an upturn in the U.S. economy and a weaker euro, data from Germany’s Statistics Office showed on Sat…
Japan fund makes late move to thwart Hon Hai in Sharp battle: sources
TOKYO (Reuters) – A Japanese state fund is making a final effort to secure a takeover of Sharp Corp as the ailing electronics maker considers a higher $5.8 billion offer from Taiwan’s Foxconn , criticizing the composition of the company’s board, source…
China removes stocks regulator head after market woes
SHANGHAI (Reuters) – China has removed the head of its securities regulator following a turbulent period in the country’s stock markets, appointing a top state banking executive as his replacement, as leaders move to restore confidence in the economy.
S&P settles Australian lawsuit over Lehman Bros collapse
SYDNEY (Reuters) – A substantial settlement has been reached in a landmark A$200 million ($143 million) class action brought against ratings agency Standard & Poor’s, according to the law firm for the local governments, churches and charities bringing the suit.
