Chrysler recalls older Jeep SUVs for ignition switch issues
DETROIT (Reuters) – Chrysler Group LLC said on Tuesday it is recalling 792,300 older-model Jeep SUVs for ignition switch problems, the second recall of its kind for the No. 3 U.S. automaker this year.
Banks trade barbs with U.S. Senate panel in tax avoidance probe
WASHINGTON (Reuters) – Deutsche Bank and Barclays on Tuesday locked horns with a U.S. Senate committee that has accused them of selling option products to hedge funds to help them avoid taxes.
American Apparel hopes to decide Charney’s fate by mid-August
(Reuters) – American Apparel Inc’s founder should know in the next few weeks whether he may return as an employee of the company, according to a source familiar with the situation.
Facebook’s Zuckerberg to testify at N.Y. forgery trial: prosecutors
NEW YORK (Reuters) – The government will call Mark Zuckerberg to testify against an upstate New York man accused of trying to cheat the billionaire founder of Facebook Inc out of half his stake in the social media company, a federal prosecutor said on …
NY Fed found serious problems at Deutsche Bank’s U.S. arms: WSJ
(Reuters) – The Federal Reserve Bank of New York has found serious problems in Deutsche Bank AG’s U.S. operations, including shoddy financial reporting, inadequate auditing and oversight and weak technology, the Wall Street Journal reported.
McDonald’s profit falls on weak U.S., European sales
(Reuters) – Quarterly profit at McDonald’s Corp fell more than expected after established restaurants in its struggling U.S. division turned in a third straight quarterly sales decline and results from Europe also logged a surprise drop.
Coca-Cola sales miss estimates on flat North America growth
(Reuters) – Coca-Cola Co is still grappling with a problem even as sales of traditional Coke rise in North America: U.S. consumers are drinking less diet soda.
Galhotra succeeds Farley at Ford as head of Lincoln brand
DETROIT (Reuters) – Ford Motor Co has named engineer Kumar Galhotra to succeed Jim Farley as head of the company’s Lincoln brand, the automaker said Tuesday.
U.S. housing turning the corner, inflation creeping up
WASHINGTON (Reuters) – U.S. home resales hit an eight month-high in June, suggesting the housing market was gradually regaining momentum and would help the economy to stay on a higher growth path this year.
RBS ‘wilfully obtuse’ in turnaround unit evidence: UK lawmaker
LONDON (Reuters) – Royal Bank of Scotland was “wilfully obtuse” when giving evidence to lawmakers examining whether its corporate turnaround division had been used to make money out of small businesses, the chairman of a British parliamentary committee…
