Exclusive: Bank of Tokyo-Mitsubishi to pay $315 million over whitewashed report
NEW YORK (Reuters) – Bank of Tokyo-Mitsubishi has agreed to pay $315 million to New York’s banking regulator for submitting a whitewashed report about its improper handling of transactions involving countries subject to U.S. sanctions, the regulator sa…
Volkswagen China growth slows to 10 percent due to capacity limits
SHANGHAI (Reuters) – Volkswagen AG’s growth in China is expected to slow to around 10 percent this year from 16 percent in 2013 due to a conservative strategy that has limited its production capacity, the head of its Chinese operations said on Tuesday….
Bank of Japan meets as economic slump, tax delay cast doubt over outlook
TOKYO (Reuters) – The Bank of Japan is expected to hold policy steady when its two-day meeting ends on Wednesday, but what it has to say about the country’s slide into recession may unsettle markets already digesting the government’s decision to call a…
French prosecutors probe suspected insider trading at BNP: source
PARIS (Reuters) – French prosecutors have opened a preliminary inquiry into suspected insider trading by officials at French bank BNP Paribas, a source with knowledge of inquiry said on Tuesday.
France to open up Sunday shopping, kick-off deregulation drive
PARIS (Reuters) – France will let shops open more often on Sundays and look to resolve disputes over firings more rapidly in a reform drive intended to lift the flagging economy, according to a draft bill seen by Reuters on Tuesday.
Shell wins India tax case
MUMBAI (Reuters) – The Bombay High Court on Tuesday ruled in favor of the Indian unit of Royal Dutch Shell Plc in a multi-million dollar tax dispute, the latest verdict against the tax department that has been vigorously pursing claims against foreign …
Ford recalls 65,000 Fusion models on ignition key issues
DETROIT (Reuters) – Ford Motor Co on Tuesday said it is recalling about 65,000 Fusion sedans in North America because the key can be removed from the ignition even if the car is not in the “park” position 30 minutes after the ignition is off, the compa…
Nokia revives the brand with launch of iPad lookalike
HELSINKI (Reuters) – Finland’s Nokia launched a new brand-licensed tablet computer on Tuesday which is designed to rival Apple’s iPad Mini, just six months after the company sold its ailing phones and devices business to Microsoft for over $7 billion.
Japan PM to seek fresh mandate for ‘Abenomics’ with snap poll
TOKYO (Reuters) – Japanese Prime Minister Shinzo Abe said on Tuesday that he would call an early election to seek a fresh mandate for his economic policies, and postpone an unpopular sales tax rise, a day after data showed the economy had slipped back …
Australian exports to China still face hurdles after hyped trade deal
SYDNEY (Reuters) – A trade deal signed with great fanfare between China and Australia has been touted as a major step towards Australia shifting its economy from a “mining boom” to a “dining boom,” but the reality is likely to be more sobering.
