Credit Suisse CEO fights back on tax evasion claims
ZURICH (Reuters) – Credit Suisse’s chief executive will hit back at allegations the Swiss bank was a willing accomplice in U.S. tax evasion on Wednesday, blaming instead a small group of its private bankers for helping Americans conceal their wealth.
Rolls-Royce seeks long-term uplift with new aero engines
DERBY, England (Reuters) – British engineering company Rolls-Royce has outlined plans designed to maintain long-term dominance in large aircraft engines, showcasing two new models that could improve efficiency by up to 10 percent.
RBS to sell its stake in motor insurer Direct Line
(Reuters) – Royal Bank of Scotland said it intends to sell almost all of its remaining stake in Direct Line Insurance Group through a placement to institutional investors.
Target shares recover after reassurance on data breach impact
NEW YORK/BOSTON (Reuters) – Target Corp shares made strong gains after it reassured investors that customers were beginning to return to its U.S. stores, suggesting that the impact of a massive data breach may not be as severe as some had feared.
VW recalls almost 600,000 Caddy vans on tailgate malfunction
FRANKFURT (Reuters) – German carmaker Volkswagen said on Wednesday it is recalling 589,000 Caddy small delivery vans globally to fix a condition that may cause an open tailgate to snap shut.
Exclusive: Mining industry rushing to raise investment, Reuters survey shows
TORONTO (Reuters) – A trickle of new investment into global miners has created a tidal wave of interest among hundreds of small mineral explorers desperate for cash, a Reuters survey shows, setting the stage for a competition to raise funds that some a…
Investors back Vodafone’s pricey cable push despite AT&T risk
BARCELONA (Reuters) – Shareholders in Vodafone say they support Chief Executive Vittorio Colao’s plan to rebuild the company with pricey European broadband assets, even though it could complicate a lucrative mooted bid from AT&T .
Sony to shutter 20 retail stores in the U.S.
(Reuters) – Sony Corp’s electronic unit said on Wednesday it is closing 20 retail stores in the United States and cutting 1,000 jobs, as the TV and game console maker tries to stem losses and regain market share.
GE to pay $1.7 billion to Japan’s Shinsei to end refund obligations
(Reuters) – General Electric Co said it would pay $1.7 billion to Japan’s Shinsei Bank Ltd to end exposure to claims related to the sale of its Japanese consumer loan business to the bank in 2008.
New home sales hit five-and-a-half year high in January
WASHINGTON (Reuters) – Sales of new U.S. single-family homes surged to a 5-1/2-year high in January, possibly easing concerns of a sharp slowdown in the housing market.
