Citigroup sues ex-Goldman partners’ firm over Swiss franc losses
NEW YORK (Reuters) – Citigroup Inc has sued a Connecticut firm founded by two former Goldman Sachs partners for $25 million over losses incurred during the unexpected surge in the Swiss franc in January.
Starbucks says Tingyi to make Starbucks drink products in China
SEATTLE (Reuters) – Starbucks Corp said on Wednesday it signed an agreement with Tingyi Holding Corp for the Chinese food and drink maker to produce and expand the distribution of Starbucks ready-to-drink products in mainland China.
Nearly 40 percent of iPhone owners interested in Apple Watch: poll
SAN FRANCISCO (Reuters) – About 40 percent of adult Apple iPhone owners in the United States are interested in buying the company’s new Apple Watch, according to a new Reuters/Ipsos poll.
GM to shut Russian plant as sales slide
MOSCOW (Reuters) – General Motors Co will shut its Russian factory and wind down its Opel brand in the country, taking a $600 million charge as it restructures its business to cope with a deepening downturn, the U.S. carmaker said on Wednesday.
Herbalife wins dismissal of U.S. ‘pyramid scheme’ lawsuit
(Reuters) – Herbalife Ltd won the dismissal of a lawsuit that claimed the maker of weight-loss and nutritional products fraudulently portrayed itself as a legitimate company, and that shareholders lost money because it was actually an illegal pyramid s…
German court bans Uber’s unlicensed taxi services
FRANKFURT (Reuters) – A German court on Wednesday banned Uber from running services using unlicensed cab drivers and set stiff fines for any violations of local transport laws by the pioneering online taxi firm.
U.S. shale oil firms brace for more pain as crude resumes slide
HOUSTON/WILLISTON, N.D. (Reuters) – With the prospect of another plunge in crude prices looming after two months of stability, U.S. shale oil producers may face another round of spending cuts to conserve cash and survive the downturn.
Beijing ‘would welcome’ U.S. joining China-led bank – report
BERLIN (Reuters) – Chinese deputy finance minister Shi Yaobin has told a German newspaper his country would welcome the United States joining a new China-led Asian development bank.
Exclusive: Jetmakers intervene on Zodiac seat delivery delays
PARIS/SEATTLE (Reuters) – Planemakers Airbus and Boeing have stepped up pressure on French supplier Zodiac Aerospace over persistent delays in the delivery of aircraft seats that are disrupting jetliner assembly, industry sources said.
DoubleLine’s Gundlach says Fed may change ‘patient’ to ‘flexible’
NEW YORK (Reuters) – The Federal Reserve on Wednesday will likely discard a pledge to remain “patient” before hiking rates, replacing it with the word “flexible,” said widely followed investor Jeffrey Gundlach, co-founder of DoubleLine Capital.
