Sweden to open fraud probe into Volkswagen emissions scandal
STOCKHOLM (Reuters) – A Swedish prosecutor said on Tuesday he had opened a preliminary fraud investigation into Volkswagen over the German carmaker’s emissions test cheating scandal which has affected up to 11 million vehicles worldwide.
Italian groups seek EU antitrust probe into McDonald’s
BRUSSELS – Three Italian consumer organizations have urged EU antitrust regulators to investigate McDonald’s franchise system in Europe, a month after the opening of an EU inquiry into the U.S. fast food company’s tax deals with Luxembourg.
World stocks drop but Europe shrugs off oil slide, China money market surge
LONDON (Reuters) – World stocks fell for the fifth straight day on Tuesday, anchored near their lowest level in over two years with investors rattled by the slump in oil prices and a surge in offshore Chinese yuan deposit rates.
China fourth-quarter GDP growth seen slowing to weakest pace since 2009
BEIJING (Reuters) – China is expected to post its weakest economic growth since the global financial crisis in the fourth quarter, adding pressure on policymakers to take more steps to ward off a sharper slowdown that could jolt global markets.
Exclusive: Chinese regulator asks banks to cut wealth management yields – sources
SHANGHAI/BEIJING (Reuters) – China’s banking regulator and main bond clearinghouse have asked commercial banks to reduce rates they offer on high-yielding wealth management products (WMPs), five sources told Reuters, an apparent back-pedalling on commi…
China steps up efforts to stabilize yuan, stocks still fragile
SHANGHAI (Reuters) – China stepped up efforts to curb bets against its currency and reassure skeptical investors, as its central bank set another firm fix for the yuan on Tuesday backed by what dealers said was aggressive yuan buying offshore.
Starbucks says aims to open 500 new stores in China in 2016
HONG KONG (Reuters) – Starbucks Corp , the world’s largest coffee chain, said on Tuesday it aims to open 500 stores in China this year, shrugging off a slowdown in the world’s second-largest economy that has hit global retailers.
Japan’s Asahi considering bid for Grolsch, Peroni: source
TOKYO (Reuters) – Japan’s Asahi Group Holdings is considering acquiring Grolsch and Peroni, two beer brands owned by SABMiller PLC , to secure growth beyond a saturated and ageing home market, a source familiar with the matter said on Tuesday.
Exclusive: Billionaire Lasry’s junk fund stops voluntary reporting of asset levels
BOSTON (Reuters) – A junk bond fund run by billionaire Marc Lasry’s Avenue Capital Management, which has experienced heavy investment losses and investor withdrawals, has stopped voluntarily reporting daily asset figures to the mutual fund industry’s t…
Exclusive: U.S., major automakers to announce safety accord Friday – sources
DETROIT (Reuters) – The U.S. government and a group of global automakers are set to unveil a voluntary agreement at the Detroit auto show on Friday aimed at improving auto industry safety and spurring culture changes, according to company and governmen…
