Siemens infrastructure arm tightens project criteria to lift profit
FRANKFURT (Reuters) – Siemens’ troubled Infrastructure & Cities (I&C) business will take a more selective approach to new projects to boost profitability, the head of the division said on Thursday.
Japan approves $182 billion economic package, doubts remain
TOKYO (Reuters) – Japanese Prime Minister Shinzo Abe’s cabinet approved a $182 billion package on Thursday to pull the economy out of deflation, but doubts remain about the impact.
Ford says November China auto sales up 47 percent year-on-year
BEIJING (Reuters) – Ford Motor Co and its local partners in China sold a total 99,157 vehicles on a wholesale basis in November, up 47 percent from a year earlier, the company said on Thursday.
European shares stabilize after sell-off, euro firm before ECB
LONDON (Reuters) – European shares looked to be stabilizing after three days of sustained selling on Thursday, as focus turned to the European Central Bank’s monthly meeting for any sign it is readying further support measures.
BNP Paribas agrees to buy Polish Rabobank unit for $1.4 billion
WARSAW (Reuters) – France’s BNP Paribas agreed to buy its Dutch rival Rabobank’s Polish unit Bank BGZ , in a deal which values the target at 4.2 billion zlotys ($1.4 billion) and is the latest example of consolidation among Polish banks.
Myanmar to allow foreign banks to begin some operations next year
YANGON (Reuters) – Myanmar will allow some foreign banks to begin offering limited financial services next year, a senior central bank official said, as the Southeast Asian country slowly opens up its banking sector following a series of economic and p…
Mercedes-Benz November sales reach record on E-class demand
FRANKFURT (Reuters) – Daimler said global sales of its Mercedes-Benz auto brand rose to their highest-ever level in November, growing by 10.9 percent to 133,441 cars thanks to demand for its new E-Class model and a boost of sales in China and North Ame…
UBS shuffles top execs as asset management head retires
ZURICH (Reuters) – UBS AG said its operations chief Ulrich Koerner would run its asset management arm when its head retires next year.
Bleak outlook for WTO deal as rifts widen over food subsidies
NUSA DUA, Indonesia (Reuters) – Divisions over food subsidies widened among members of the World Trade Organization on Thursday, making it unlikely a landmark trade deal could be reached with just a day left to the end of talks.
Toyota labor federation to push for higher wages: media
TOKYO (Reuters) – The Toyota Motor Corp group’s labor federation will push for a unified rise in base wages, Japanese media said on Thursday, a major step towards permanent wage increases that will be key to ending Japan’s decade and a half of deflatio…
