GM to build 2.5 million new ‘Ecotec’ small engines by 2017
PONTIAC, Michigan (Reuters) – General Motors Co on Wednesday announced a new generation of efficient small engines that it says will power 27 models in 64 countries by the 2017 model year.
Exclusive: States to probe Comcast plan to buy Time Warner Cable
WASHINGTON (Reuters) – Florida and other U.S. states will join the Justice Department in seeking to determine if Comcast’s plan to merge with Time Warner Cable is legal under U.S. antitrust law, Florida officials told Reuters.
Deutsche Bank to cut 500 investment bankers: Handelsblatt Online
FRANKFURT (Reuters) – Deutsche Bank plans to cut another 500 investment banking positions due to poor results in the first quarter, with most of the layoffs in fixed income, currencies, commodities and derivatives, a German newspaper reported on Wednes…
JPM deal propels Mercuria to elite club of commodity titans
NEW YORK/LONDON (Reuters) – The big three just became the big four.
JPMorgan sells physical commodities unit to Mercuria for $3.5 billion
NEW YORK (Reuters) – JPMorgan is selling its physical commodities business to Mercuria for $3.5 billion, the U.S. investment bank said on Wednesday, sweeping the fast-growing Swiss trading house into the top league of commodities traders.
Alibaba’s choice of U.S. IPO spurred by rivals, Hong Kong impasse: sources
HONG KONG (Reuters) – After a year of waiting, the man running what could be the biggest-ever technology IPO finally lost patience with Hong Kong.
French banks challenge local loyalty of Germany’s Mittelstand
FRANKFURT/PARIS (Reuters) – France’s big banks are embracing an unlikely challenge – to prise away some of Germany’s mighty Mittelstand of small and medium-sized enterprises (SMEs) from their local banking partners.
Lawyers ply the Internet to score clients for GM lawsuits
NEW YORK (Reuters) – General Motors may face lawsuits for millions of dollars over its recall of 1.6 million cars, but first lawyers have to find clients if they hope to get a foot in the courthouse door.
BMW eyes U.S. production hike in push for sales record
MUNICH (Reuters) – German luxury carmaker BMW is looking at raising production capacity at its plant in the United States and releasing 12 new models as it chases record sales and a rise in pretax profit of up to 10 percent this year.
U.S. current account gap hits 14-year low in fourth quarter
WASHINGTON (Reuters) – The U.S. current account deficit tumbled to a 14-year low in the fourth quarter as exports touched a record high, a government report showed on Wednesday.
