Co-op’s former CEO says bank’s problems are ‘a tragedy’
LONDON (Reuters) – Co-op Group’s former Chief Executive Peter Marks has described the problems at its banking arm as “a tragedy” but said he wasn’t the driving force behind its ill-fated acquisition of the Britannia Building Society in 2009.
India panel finds GM responsible in emissions testing case: government source
NEW DELHI (Reuters) – An Indian government-appointed panel investigating General Motors Co’s recall of 114,000 Tavera vehicles says the company flouted testing regulations, a senior government official who has seen the report said.
Lufthansa 2013 profit outlook disappoints, shares hit
FRANKFURT (Reuters) – Germany’s Lufthansa unveiled a new 2013 profit outlook that fell short of expectations, driving its shares lower, as restructuring costs and volatile exchange rates weighed on its earnings.
EU’s top court rules Germany can keep VW veto law
LUXEMBOURG/FRANKFURT (Reuters) – Germany won the right to retain key veto power at carmaker Volkswagen on Tuesday after Europe’s top court turned down the European Commission’s bid to abolish its “VW law”.
China central bank set for modest policy tightening – adviser
BEIJING (Reuters) – China’s central bank may tighten policy moderately as inflation creeps up, relying on money-market liquidity adjustments rather than blunt tools such as interest rate rises, a policy adviser to the central bank said on Tuesday.
Reckitt Benckiser reviews pharma unit, could sell it
LONDON (Reuters) – Consumer goods group Reckitt Benckiser is reviewing options for its pharmaceuticals unit, it said on Tuesday, effectively putting up for sale its prescription medicine for heroin addiction, which faces cheap, copycat competition.
Dollar inches higher ahead of U.S. jobs data
LONDON (Reuters) – The dollar pulled back from an eight-month low and shares began cautiously on Tuesday as investors awaited delayed U.S. jobs data, half suspecting that this month’s acrimonious budget tussle in Washington will have diluted their valu…
France’s GDF Suez to boost UK shale exploration
PARIS/LONDON (Reuters) – France’s GDF Suez is the second heavyweight energy firm to dip a toe into British shale gas exploration after taking a 25 percent stake in onshore projects in northern England and Wales.
Adidas shakes up management to restore Europe, U.S. growth
FRANKFURT (Reuters) – Sporting goods group maker Adidas is shaking up its management structures in North America and western Europe as it seeks to boost growth in these regions.
EU court: Germany has complied with ‘Volkswagen law’ ruling
LUXEMBOURG (Reuters) – Germany has complied with a 2007 court ruling ordering it to water down a 1960 law giving the state of Lower Saxony veto rights over carmaker Volkswagen , Europe’s top court said on Tuesday.
