Big banks need point person for money-laundering lapses: regulator
HOLLYWOOD, FL/WASHINGTON (Reuters) – Big banks should designate senior managers to oversee efforts to police transactions for criminal activity and take responsibility when lapses occur, a top U.S. financial regulator said on Monday.
Mexico’s Pemex mulls crude imports, more exports to India, Japan
MEXICO CITY (Reuters) – Mexico’s Pemex is considering crude imports to boost local refinery output, but at the same time, it expects to sell more oil to India and Japan to diversify its export markets.
U.S. retirees return to reverse mortgages, big banks stay away
(Reuters) – U.S. baby boomers desperate for retirement income are increasingly turning back to a financial product that, after the housing bust, had been left for dead: the reverse mortgage.
Renault and Nissan name management team to step up integration
TOKYO/PARIS (Reuters) – Carmakers Renault SA and Nissan Motor Co announced moves on Monday to combine key operations under a new team of managers, the boldest step yet taken in their 15 year-old alliance.
BoE’s Cunliffe says big banks are still too big to fail
LONDON (Reuters) – The world’s biggest banks still could not be dismantled safely, more than five years after the collapse of Lehman Brothers, the Bank of England’s deputy governor for financial stability said on Monday.
U.S. home builder sentiment ticks up in March, still sour
NEW YORK (Reuters) – U.S. homebuilder sentiment edged up in March but sentiment remained mostly poor as concerns linger, the National Association of Home Builders said on Monday.
VW recalls 160,351 Passat sedans in U.S., Canada for light issue
DETROIT (Reuters) – Volkswagen AG said it is recalling about 160,351 Passat sedans in the United States and Canada because a low-beam headlight could become inoperable.
Chesapeake Energy files for spin off oilfield services business
(Reuters) – Chesapeake Energy Corp said it filed with U.S. financial regulators for a possible spin off of its oilfield services business.
Primark to pay $10 million more to victims of Bangladesh factory collapse
BERLIN (Reuters) – British clothes retailer Primark will pay a further $10 million in compensation to victims of the collapse of a Bangladeshi factory last year that killed more than 1,100 people.
RWE to sell DEA to Russian-led investors for $7.1 billion
FRANKFURT (Reuters) – Shares in troubled utility RWE rose after it reached a deal to sell its oil and gas production arm to investors led by Russian tycoon Mikhail Fridman for 5.1 billion euros ($7.10 billion), a high price but the group will lose one …
