Credit Suisse’s Thiam set to show hand as CEO
ZURICH/LONDON (Reuters) – When Tidjane Thiam unveils his plans for Credit Suisse on Wednesday the Swiss bank’s new chief executive will likely rest his case on three Cs: capital, cuts and charm.
Alibaba lobbies to stay off U.S. blacklist list for fakes
SHANGHAI (Reuters) – Chinese e-commerce giant Alibaba Group Holding Ltd is lobbying hard to stay off the U.S. Trade Representative’s blacklist after coming under renewed pressure this year over suspected counterfeits sold on its shopping platforms.
VW made several defeat devices to cheat emissions tests: sources
BERLIN/LOS ANGELES/DETROIT (Reuters) – Volkswagen made several versions of its “defeat device” software to rig diesel emissions tests, three people familiar with the matter told Reuters, potentially suggesting a complex deception by the German carmaker…
Porsche SE picks Poetsch to succeed Winterkorn as CEO
FRANKFURT (Reuters) – Former Volkswagen chief executive Martin Winterkorn is stepping down as head of Porsche Automobil Holding SE , the family-owned holding company that controls a majority stake in Volkswagen, Porsche SE said in a statement on Saturd…
Volkswagen considers cutting temporary worker numbers: works council
BERLIN (Reuters) – Volkswagen is considering a reduction in temporary workers as part of efforts to offset the cost of the emissions scandal, the car maker’s works council said on Saturday.
TD Bank lays off Canada, U.S. staff after review: sources
TORONTO/NEW YORK (Reuters) – Toronto-Dominion Bank has begun laying off staff in Canada and the United States as part of a company-wide initiative to cut costs, according to two sources familiar with the matter.
September housing data eyed after August disappointed
(Reuters) – U.S. housing stocks could be in for a boost if September data due out next week confirms strength that market watchers expect.
JPMorgan, Morgan Stanley pay most in $1.9 billion swaps price-fixing settlement
(Reuters) – JPMorgan Chase & Co, Morgan Stanley and Barclays Plc will pay over half of a more than $1.86 billion settlement resolving investor claims they conspired to fix prices and limit competition in the market for credit default swaps, according to a court filing.
GM discovers new ignition switch issue, recalling 3,300 vehicles: AP
(Reuters) – General Motors Co has discovered another ignition switch problem among its pickup trucks and SUVs that can cause engines to stall, but it was discovered before anyone was hurt, the Associated Press reported.
Apple ordered to pay $234 million to university for infringing patent
(Reuters) – A U.S. jury on Friday ordered Apple Inc to pay the University of Wisconsin-Madison’s patent licensing arm more than $234 million in damages for incorporating its microchip technology into some of the company’s iPhones and iPads without perm…
