Exclusive: Chinese automaker Geely gears up for push into Europe, U.S.
BEIJING (Reuters) – Chinese automaker Geely is set to start producing a small crossover utility vehicle late next year – the first car to be built using a common platform jointly developed with Volvo.
No factory for old men: Hyundai Motor seeks to end seniority-based pay
SEOUL (Reuters) – In a bid to curb rising domestic labor costs, Hyundai Motor Co is seeking to base wages on merit not seniority in an overhaul of a decades-old salary system that puts the South Korean firm on a collision course with its activist union…
Wall Street ends slightly lower as earnings worries linger
NEW YORK (Reuters) – U.S. stocks ended marginally lower on Thursday as lingering worries about upcoming corporate earnings reports offset enthusiasm about a trio of soaring Wall Street debuts.
Fed officials lean all ways on rate hikes, data in focus
SAN FRANCISCO (Reuters) – Federal Reserve officials on Thursday were again at public odds over when the U.S. central bank should start raising rates, underscoring the difficult task ahead for Fed Chair Janet Yellen as she tries to build consensus for a…
Closure of ‘Alexandria’ trade would cost Monte Paschi 1 billion euros
SIENA (Reuters) – The European Central Bank (ECB) has told Monte dei Paschi di Siena to close a derivative trade with Nomura by late July, a move the Italian lender said would generate a pre-tax loss of 1 billion euros ($1.1 billion) but have almost no…
VW in full-blown crisis as CEO vows to fight: sources
BERLIN (Reuters) – Volkswagen has plunged into a full-blown leadership crisis after Chief Executive Martin Winterkorn let it be known on Saturday he will fight for his job even though the carmaker’s chairman has reportedly withdrawn confidence in the C…
ECB gave no deadline for Monte Paschi to find buyer: CEO
MILAN (Reuters) – The European Central Bank has not set a deadline for Italian bank Monte dei Paschi di Siena to find a buyer but wants to see precise steps in this direction, the lender’s chief executive said on Thursday.
VW: no statement on leadership crisis meeting will be issued today
BERLIN (Reuters) – Volkswagen said late on Thursday no statement on the leadership crisis meeting will be published today.
Goldman reports highest profit in five years as trading picks up
(Reuters) – Goldman Sachs Group Inc reported its best quarterly profit in five years on Thursday, notching up big gains from trading bonds and currencies as global markets fluctuated during the first three months of the year.
Citi posts highest quarterly profit in eight years as costs plunge
(Reuters) – Citigroup Inc reported its highest quarterly profit in nearly eight years as costs plunged, showing that the bank’s efforts to streamline its business may be starting to pay off.
