Swiss bank Valiant is first to bow to U.S. tax probe
ZURICH (Reuters) – Valiant Holding AG has become the first Swiss bank to say it would work with U.S. officials in a crackdown on wealthy Americans evading taxes through hidden offshore accounts.
Alitalia finally nets $412 million in cash call: source
MILAN (Reuters) – Italy’s struggling airline Alitalia has finally succeeded in netting the 300 million euros ($412 million) it needs to keep flying over Christmas after a long drawn-out capital raising, a source with knowledge of the operation said on …
No Pacific trade pact this year, ministers to try again next month
SINGAPORE (Reuters) – An ambitious trade pact between a dozen countries around the Pacific Rim will not be finalized this year as hoped, with no agreement on thorny issues like intellectual property, agricultural tariffs and state-owned enterprises.
China’s 2014 growth in focus as leaders met on reform plans
BEIJING (Reuters) – China’s leaders began mapping out their economic and reform plans for 2014 behind closed doors on Tuesday, and would have drawn confidence from data showing the economy has sustained momentum from a mid-year pick-up into the final q…
Volvo to sell rental unit to private equity for $1.1 billion
STOCKHOLM (Reuters) – World number two truck maker Volvo said on Tuesday it had agreed to sell its machine rental business in North America to U.S. private equity firm Platinum Equity for about 7.2 billion Swedish crowns ($1.1 billion).
BMW Nov sales rise 2.7 percent to record 174,996 cars
FRANKFURT (Reuters) – German premium auto maker BMW delivered a record 174,996 BMW, Mini and Rolls-Royce vehicles in November, a feat which it said will help it retain the crown of being the biggest seller of premium vehicles in the world.
Lululemon names new CEO; founder Chip Wilson to step down
(Reuters) – High-end yoga-wear retailer Lululemon Athletica Inc named Lauren Potdevin as its chief executive and said founder Chip Wilson will step down as non-executive chairman.
Boeing must decide on F/A-18 production in March 2014: executive
NAVAL AIR STATION PATUXENT RIVER, Maryland (Reuters) – Boeing Co must decide in March 2014 whether to invest tens of millions of dollars to continue production of the F/A-18 fighter jet, a senior Boeing executive said on Monday, underscoring his confid…
U.S. exits GM stake in $10 billon loss for taxpayers
WASHINGTON (Reuters) – The U.S. government sold its last shares of automaker General Motors Co on Monday, marking an end to a historic bailout of one of America’s most storied companies.
Some claims against Madoff feeder funds, sons’ wives are curbed
NEW YORK (Reuters) – The trustee seeking money for Bernard Madoff’s victims may be unable to pursue some claims against investment firms that fed client funds into the swindler’s Ponzi scheme, a Manhattan federal judge said.
