Chrysler recalls 10,700 SUVs for cruise control defect
(Reuters) – Chrysler Group LLC said it was recalling about 10,700 sport utility vehicles to fix a defect that leads to unintended acceleration in cruise-control mode.
Sears’ Lampert met Ford’s Mulally for turnaround advice
NEW YORK (Reuters) – Sears Holdings Corp’s controlling shareholder Eddie Lampert met with Ford Motor Co CEO Alan Mulally earlier this year to seek advice on how to turn around the ailing retailer, two sources familiar with the matter said.
Canada’s surprise light oil boom delights oil sands producers seeking diluent
CALGARY Alberta (Reuters) – Canada is enjoying an unexpected boom in production of ultra-light crude known as condensate, defying long-held predictions of dwindling supply.
China to boost bank lending power, though IMF says no need
BEIJING (Reuters) – China aims to cut the proportion of cash that commercial banks must keep with the People’s Bank of China, the banking regulator said on Friday, signalling further monetary loosening although the IMF and World Bank say the economy is…
Strong Mercedes sales have yet to move it past Audi
BERLIN/FRANKFURT (Reuters) – Mercedes-Benz keeps delivering double-digit sales growth, but its overhauled line-up of luxury cars has yet to move it past German rival Audi .
Economy needs to tighten up before rates can rise: Fed’s Powell
LONDON (Reuters) – Federal Reserve Governor Jerome Powell said on Friday that he wanted to see signs that the U.S. economy was tightening up before before interest rates could be raised.
Asia offers muted applause for ECB, euro firm before U.S. jobs
SYDNEY (Reuters) – Asian markets turned mixed on Friday as investors offered only polite applause for the European Central Bank’s latest stimulus package, while the euro became an unlikely star following a sharp short-covering rally.
GM top executives spared in internal report on safety failure
WARREN Mich. (Reuters) – General Motors Co on Thursday issued a report detailing how for 11 years it turned a blind eye to an ignition-switch problem linked to at least 13 deaths but largely pinned the blame on what the report described as incompetent …
U.S. authorities extend deadline for Swiss banks in tax case
ZURICH (Reuters) – The U.S. Department of Justice on Thursday extended for one month the deadline for so-called category two Swiss banks suspected of helping wealthy Americans evade taxes to turn over information by one month.
Bank of America could pay at least $12 billion to settle probes: report
(Reuters) – Bank of America Corp could pay more than $12 billion to settle probes by the U.S. Justice Department and a number of states into the bank’s alleged handling of shoddy mortgages, the Wall Street Journal said on Thursday, citing people famili…
