Exclusive: Honda grandees chide CEO over quality, recalls
BEIJING/TOKYO (Reuters) – Two former Honda Motor chiefs have called on CEO Takanobu Ito this year, urging him to focus more on quality issues, increasing the pressure he’s already under from U.S. regulators and politicians over mass air bag recalls.
JPMorgan says improved systems and controls after FX rigging probe
LONDON (Reuters) – Wall Street bank JPMorgan, fined $662 million by UK and US regulators for failings in foreign exchange, said on Wednesday that it had made significant improvements to systems and controls.
Toyota to recall 362,000 Camry, other models globally
TOKYO (Reuters) – Toyota Motor Corp said on Wednesday it would recall a combined 361,800 vehicles globally, including the Camry sedan, covering three separate defects.
Alibaba reports record $9 billion Singles’ Day sales
HANGZHOU China (Reuters) – E-commerce giant Alibaba Group Holding Ltd reported more than $9 billion in sales on China’s Singles’ Day on Tuesday, illustrating the buying power of the Chinese consumer and the importance of the event in the retail calenda…
Dow, S&P 500 set record highs in light volume
NEW YORK (Reuters) – The Dow and S&P 500 eked out a fifth session of record closing highs on Tuesday, barely extending the market’s recent rally in light volume as consumer discretionary shares gained.
Air Lease CEO says oil price drop will not hurt demand for latest jets
(Reuters) – Airlines are sticking with plans to buy the latest generation of fuel-saving passenger jets even though falling jet fuel costs have undercut the case for these planes, the head of one of the world’s largest aircraft leasing companies said i…
Exclusive: BlackRock reorganizes sales force, taps JPMorgan executive
(Reuters) – BlackRock Inc is reorganizing its sales force and has hired Lee Beck, a former managing director with J.P. Morgan Funds, to oversee sales to wirehouses, according to an internal memo obtained by Reuters.
Shell says most focused on deep water oil projects in Mexico
MEXICO CITY (Reuters) – Royal Dutch Shell, one of the world’s largest oil companies, is most interested in new oil and gas projects in the deep waters of the Gulf of Mexico following a major sector opening finalized earlier this year, a top executive s…
Volvo to cut up to 3,000 staff: paper
STOCKHOLM (Reuters) – Swedish truck maker Volvo will cut around 3,000 staff as part of a savings plan to boost profitability, business daily Dagens Industri said on Tuesday.
Pimco could withstand extra $300-350 bln outflows over two years: Morningstar
NEW YORK (Reuters) – Pacific Investment Management Co can withstand additional outflows of about $300 billion to $350 billion over the next two years before its portfolio management operation is impaired, according to research firm Morningstar Inc on T…
