VW under pressure for answers as emissions scandal deadlines loom
WOLFSBURG, Germany (Reuters) – Hans Dieter Poetsch’s first board meeting as chairman of Volkswagen on Wednesday could turn out to be his most important, coming just hours before a deadline set by German regulators and testimony by the company’s top U.S…
UAW threatens strike at Fiat Chrysler U.S. operations
DETROIT (Reuters) – United Auto Workers members are planning to strike at Fiat Chrysler Automobiles NV U.S. plants as soon as Wednesday evening, the first work stoppage since 2007, threatening to bring manufacturing to a halt.
Big U.S. firms hold $2.1 trillion overseas to avoid taxes: study
WASHINGTON (Reuters) – The 500 largest American companies hold more than $2.1 trillion in accumulated profits offshore to avoid U.S. taxes and would collectively owe an estimated $620 billion in U.S. taxes if they repatriated the funds, according to a …
Norwegian Air CEO says $69 flights from U.S. to Europe around the corner
NEW YORK (Reuters) – Norwegian Air Shuttle ASA hopes to sell one-way tickets to Europe for $69 as early as 2017 by flying from U.S. airports that have low fees, Chief Executive Officer Bjørn Kjos said in an interview Tuesday.
Faint corporate praise for TPP as winners, losers sought
SYDNEY/WASHINGTON (Reuters) – Early industry reaction to a long-sought trade agreement reached between 12 Pacific Rim countries on Monday amounted to faint praise that it could have been worse and umbrage that the United States appeared to be the bigge…
American Apparel seeks fashion revival under bankruptcy plan
CHICAGO (Reuters) – American Apparel Inc plans to revamp its struggling fashion business under a restructuring plan that would give ownership to the Standard General hedge fund, which rescued RadioShack earlier this year, lawyers said at a hearing on T…
GE probing similar engine parts in wake of BA plane fire
(Reuters) – General Electric Co said on Tuesday it was inspecting out-of-service versions of the engine component involved in a fire with a British Airways plane last month to further determine the cause of the engine failure.
Oil jumps $2, breaking range as supply seen ebbing
NEW YORK (Reuters) – Oil prices jumped more than $2 a barrel on Tuesday, breaking out of a month-long trading range on technical buying and industry talk as well as U.S. government data suggesting the global supply glut could be ebbing.
Wall Street dips as third-quarter earnings season kicks off
(Reuters) – U.S. stocks fell on Tuesday, ending a five-day winning streak, as investors focused on upcoming quarterly reports that are expected to reflect a dip in corporate earnings.
IMF cuts global growth forecasts again, cites commodity and China worries
LIMA (Reuters) – The International Monetary Fund cut its global growth forecasts for a second time this year on Tuesday, citing weak commodity prices and a slowdown in China and warned that policies aimed at increasing demand were needed.
