Citigroup says to close one third of Korea branches as costs, competition rise
HONG KONG (Reuters) – Citigroup Inc said it will close almost one third of its branches in Korea, becoming the third global bank to trim its presence in the country in the last year amid rising costs and intense competition.
Exclusive: Germany, EU clinch deal on renewable surcharge rebate
BERLIN (Reuters) – Germany and the European Commission have reached an agreement on exemptions to renewable energy surcharges that benefit some German industrial companies, government and industry sources told Reuters on Tuesday.
U.S. warns China over currency depreciation
WASHINGTON (Reuters) – The United States warned Beijing on Monday that the recent depreciation of the Chinese currency could raise “serious concerns” if it signaled a policy shift away from allowing market-determined exchange rates.
Safety group calls for U.S. probe of Chevy Impala air bags
WASHINGTON (Reuters) – General Motors, which has recalled 2.6 million cars for faulty ignition switches that caused air bags to deactivate, may also have a defect in air bags in 2003 to 2010 Chevrolet Impalas, an auto safety watchdog group said on Mond…
Most midsize SUVs fail tough U.S. crash tests
(Reuters) – Most of the midsize SUVs did not fare well in a new small overlap front-crash test conducted by an influential U.S. safety group, in yet another jolt to the industry already shaken by safety concerns.
Samsung’s lower first-quarter estimate highlights smartphone challenges
SEOUL (Reuters) – Samsung Electronics Co Ltd on Tuesday said it is on track to post its second straight quarter of profit decline, as slowing smartphone sales growth continued to weigh on earnings.
GM to invest $450 million in two Michigan plants: Detroit News
(Reuters) – General Motors Co is expected to announce on Tuesday a $450 million investment plan in two of its Michigan plants to bolster its electric car research and production capabilities, the Detroit News reported, citing people familiar with the m…
BOJ stands pat, keeps upbeat view despite Japan slowdown
TOKYO (Reuters) – The Bank of Japan stuck to its existing monetary stimulus on Tuesday, confident that it did not need further support measures to beat chronic deflation even as a sales tax hike clouds the outlook for the world’s third-largest economy….
U.S. movie studios sue Megaupload, founder Dotcom
NEW YORK (Reuters) – Several major U.S. studios filed a copyright infringement lawsuit on Monday against the file-sharing website Megaupload and its ebullient founder, Kim Dotcom.
U.S. House panel to vote on swaps regulator mandate
WASHINGTON (Reuters) – Four U.S. lawmakers launched a bill on Monday to rewrite the rules of the Commodity Futures Trading Commission (CFTC), giving more leeway to smaller players in the derivative markets it oversees.
