‘Too Big to Fail’ still thriving
LONDON (Reuters) – Five years after Lehman Brothers’ seismic bust and just two years after euro member Greece defaulted, the concept of being too big or too strategic to fail is alive and well.
Goldman to sell designated market-maker unit to IMC: reports
(Reuters) – Goldman Sachs Group Inc is in the process of selling its “designated market-maker” unit, people familiar with the matter told the Financial Times on Tuesday.
German cabinet signs off on minimum wage from 2015
BERLIN (Reuters) – Germany’s cabinet gave the green light on Wednesday to a national minimum wage of 8.50 euros per hour in Europe’s biggest economy – a flagship project for the Social Democrats (SPD) who share power with Angela Merkel’s conservatives….
British car industry overwhelmingly backs EU membership: survey
LONDON (Reuters) – More than 90 percent of companies operating in the British car industry want the country to stay within the European union, a survey showed on Wednesday, with access to the single market deemed fundamental to the sector’s success.
Japan firms doubt BOJ price targets, new stimulus seen
TOKYO (Reuters) – Corporate Japan expects the consumer price index to be just 1.5 percent higher in a year from now, a Bank of Japan tankan survey found on Wednesday — a sign of how difficult the central bank could find meeting its 2 percent inflation…
Philip Morris to stop cigarette production in Australia
SYDNEY (Reuters) – American cigarette and tobacco company Philip Morris International Inc plans to stop manufacturing cigarettes in Australia by the end of the year, citing government production regulations that restrict its export opportunities.
GM avoided defective switch redesign in 2005 to save a dollar each
DETROIT/WASHINGTON (Reuters) – General Motors Co in 2005 decided not to change an ignition switch eventually linked to the deaths of at least 13 people because it would have added about a dollar to the cost of each car, according to an internal GM docu…
UAW asks to delay Volkswagen hearing, cites anti-union collusion
(Reuters) – The United Auto Workers (UAW) on Tuesday asked a U.S. agency to stay an April 21 hearing related to a mid-February union vote it lost at a Tennessee Volkswagen plant, citing what it called new evidence of collusion between Republican lawmak…
CEO Barra calls GM’s actions on deadly defect ‘unacceptable’
WASHINGTON (Reuters) – General Motors Co CEO Mary Barra on Tuesday called her company’s slow response to faulty ignition switches linked to at least 13 deaths “unacceptable,” but could not give U.S. lawmakers many answers as to what went wrong.
Apple seeks decisive U.S. court ruling against Samsung
SAN JOSE, California (Reuters) – Apple Inc and Samsung faced off once again in their long-running courtroom battle, with the iPhone maker asking jurors to award more than $2 billion for patent violations and Samsung trying to cast its rival as a sore l…
