Deaths linked to GM ignition-switch defect rise to 23
DETROIT (Reuters) – The number of deaths linked to a faulty ignition switch in General Motors Co cars rose by two last week to 23, according to a report Monday from the lawyer overseeing a program set up to compensate accident victims.
Pimco says can handle rise in outflows after Gross exit
FRANKFURT (Reuters) – Pimco is bracing for investors to pull out money following the sudden departure of its co-founder Bill Gross but expects the vast majority of clients to stick with the firm and is confident it can handle any outflows, the Californ…
Big shift in China economy to ‘disrupt’ Western retailers: Li & Fung head
PARIS (Reuters) – China’s role in supplying cheap consumer goods to the West could end in coming years due to rising domestic consumption and worker pay, stoking inflation and unsettling retailers in Western markets, the chairman of logistics group Li & Fung warned.
American Apparel hires turnaround expert as interim CEO
(Reuters) – Struggling apparel retailer American Apparel Inc said it had hired Scott Brubaker, a managing director at turnaround firm Alvarez & Marsal, as interim chief executive, three months after ousting controversial CEO and founder Dov Charney.
EU watchdog to give detail on Apple and Fiat tax investigations
BRUSSELS (Reuters) – European Union regulators will provide more details on Tuesday of their reasons for launching in-depth inquiries into tax arrangements reached by Ireland with Apple and by Luxembourg with a Fiat subsidiary.
Safety group asks U.S. regulators for defect probe of Chrysler vehicles
DETROIT (Reuters) – A safety advocate group has petitioned U.S. regulators to open an investigation into an estimated 4.9 million Chrysler vehicles for issues that could lead to engine stalls and other problems, according to documents posted online by …
Macy’s to hire 86,000 workers for holiday season
(Reuters) – Department store operator Macy’s Inc said it planned to hire about 86,000 workers for the holiday shopping season, up from about 83,000 last year.
Lloyds Bank dismisses 8 staff after rate rigging probe
LONDON (Reuters) – Lloyds Banking Group said on Monday it had dismissed eight staff following an investigation into the submission of benchmark interest rates after it was fined in July by American and British regulators.
Swiss bank UBS warns of penalties as forex settlement talks begin
ZURICH (Reuters) – Switzerland’s largest bank UBS warned it faced new fines after confirming it was holding talks to settle allegations it was involved in rigging foreign exchange rates.
Dollar is ‘currency of choice’, Hong Kong unrest hits stocks
LONDON (Reuters) – The dollar hit its highest in almost two years against the euro, with German inflation data expected to keep pressure on the ECB to ease monetary policy. Unrest in Hong Kong hurt Asian-exposed European shares.
