Peugeot must improve performance in Germany – CEO in magazine
FRANKFURT (Reuters) – PSA Peugeot Citroen must urgently improve its position in Germany, where it lags peers because it is failing to convince customers of the value and attractiveness of its cars, Chief Executive Carlos Tavares told a German magazine….
Bad Saudi PR fuels riyal devaluation talk
DUBAI (Reuters) – Speculation that Saudi Arabia could devalue its currency may owe more to a poor public relations effort by Saudi authorities than to the economic pressures on the kingdom.
Barclays fined for lax crime checks in ‘deal of century’
LONDON (Reuters) – Britain’s financial watchdog has fined Barclays 72 million pounds ($109 million) for cutting corners in vetting wealthy customers in order to win a huge transaction described by one senior manager as potentially the “deal of the cent…
GSK in China: escaping the shadow of a scandal
SHANGHAI (Reuters) – GlaxoSmithKline Plc has cut 40 percent of its sales reps in China and axed some units as it eyes a return to growth in 2016, after sales plunged during a bribery scandal that landed it with a record $490 million fine in 2014.
Britain sets 2018 deadline for claims in country’s costliest bank scandal
LONDON (Reuters) – Britons who were missold loan insurance, in what turned out to be the country’s costliest consumer finance scandal, will have until 2018 to claim compensation under regulatory plans intended to draw a line under the issue.
Big banks accused of interest rate-swap fixing in U.S. class action suit
NEW YORK (IFR/Reuters) – A class action lawsuit, filed Wednesday, accuses 10 of Wall Street’s biggest banks and two trading platforms of conspiring to limit competition in the $320 trillion market for interest rate swaps.
VW maintains $7 billion of provisions despite simple emissions fix
WOLFSBURG, Germany (Reuters) – Volkswagen will not lower planned provisions of 6.7 billion euros ($7.1 billion) for the costs of its diesel emissions scandal, though the technical fix for 8.5 million cars in Europe have turned out to be simpler than ex…
FanDuel, DraftKings fight threatened shutdown in New York
NEW YORK (Reuters) – Daily fantasy sports companies DraftKings and FanDuel urged a New York judge on Wednesday to spare them from a potentially crippling shutdown in one of their top markets by ruling that their contests do not constitute illegal gambl…
HP Inc plunges after printer business underwhelms
(Reuters) – Shares of HP Inc, which houses former Hewlett-Packard Co’s legacy hardware business, plunged 16.3 percent on Wednesday after the company’s lackluster results fueled concerns about its ability to weather a slowdown in the printer and PC mark…
Big banks accused of interest rate-swap fixing in class action suit
NEW YORK (IFR/Reuters) – A class action lawsuit, filed Wednesday, accuses 10 of Wall Street’s biggest banks and two trading platforms of conspiring to limit competition in the $320 trillion market for interest rate swaps.
