Under full capital rules, 36 EU banks would have failed test
LONDON (Reuters) – Europe’s banking health check has shown countries and lenders are implementing global capital rules at vastly different speeds, and 36 companies would have failed if new capital rules were fully applied.
U.S. safety regulators probe Chrysler Ram pickup recalls
DETROIT (Reuters) – U.S. safety regulators have opened an investigation of Chrysler Group’s handling of two recalls for potential steering issues affecting nearly 1 million Dodge Ram pickup trucks in the United States.
Asset sales loom as Monte dei Paschi seeks to fill capital hole
MILAN/LONDON (Reuters) – Italy’s Monte dei Paschi di Siena is likely to have to sell assets to fill a capital hole uncovered by European regulators, with shareholders reluctant to stump up cash after a recent fundraising and would-be buyers of the bank…
Toyota tops, Fiat Chrysler last in Consumer Reports quality survey
DETROIT (Reuters) – Toyota Motor Corp’s namesake brand and its Lexus luxury brand finished one-and-two for the second year in a row in Consumer Reports’ annual quality survey of the U.S. new-vehicle market, the influential magazine said on Monday.
U.S. services sector growth slows, pending home sales miss forecast
WASHINGTON (Reuters) – U.S. services sector activity dipped to a six-month low in October, while manufacturing output in Texas dipped, pointing to some moderation in economic growth early in the fourth quarter.
Deaths linked to GM’s faulty ignition switch rise to 30
WASHINGTON (Reuters) – A program that compensates victims of accidents caused by a faulty ignition switch in General Motors vehicles has approved one new death claim, bringing to 30 the total number of fatalities linked to the issue so far, according t…
Merck beats profit forecast with deep cost cuts
(Reuters) – Merck & Co reported lower than expected third quarter revenue, hurt by sharply lower sales of its Gardasil vaccine against cervical cancer, but cost cuts enabled the company to beat earnings forecasts.
Bank of America’s Merrill fined over short-sale rule violations
NEW YORK (Reuters) – Wall Street’s self-funded regulator said on Monday it fined Bank of America Corp’s Merrill Lynch unit a total of $6 million over violations of certain short-selling rules designed to prevent market manipulation.
Sanofi CEO asked board for clarity on rumor of his ousting: Les Echos
PARIS (Reuters) – The chief executive of French pharmaceuticals group Sanofi wrote to his board on Sept. 4 asking for clarity about rumors its chairman was looking to replace him and explaining why he should stay, Les Echos newspaper reported on Monday…
Valeant ready to raise Allergan bid to at least $200/share
(Reuters) – Valeant Pharmaceuticals International Inc on Monday said in a letter to Allergan Inc’s board of directors that it was prepared to raise its offer to at least $200 per share but stopped short of doing so.
