EU lawyers say transaction tax plan is illegal
LONDON (Reuters) – A plan to tax financial transactions in 11 European Union member states from 2014 is illegal, the bloc’s lawyers have concluded, dealing what could be a final blow to the measure as proposed.
Europe buoys McDonald’s in August, but worries linger
(Reuters) – McDonald’s Corp reported a bigger-than-expected 1.9 percent increase in global sales at established restaurants in August, after a revival in France helped drive solid results in Europe, its top market.
UK prosecutor faces legal hurdle in Olympus case
LONDON (Reuters) – The UK anti-fraud agency seeking to prosecute Japan’s Olympus Corp for misleading an auditor needs first to clarify whether a company can commit certain offences under UK law, a London court heard on Tuesday.
Daimler: No need for German-style works council in U.S
FRANKFURT (Reuters) – Daimler said it saw no need for a German-style works council at its plant in Tuscaloosa, Alabama, rebuffing unions’ efforts to gain influence over foreign-owned U.S. auto plants.
Peugeot to seek further plant cuts in union talks: CEO
FRANKFURT (Reuters) – PSA Peugeot Citroen will seek further plant cuts from French unions, Chief Executive Philippe Varin said on Tuesday, as a glacial improvement in car demand looks unlikely to solve Europe’s chronic industrial overcapacity.
ECB’s Asmussen sees risk of large spillovers from Fed tightening
BRUSSELS (Reuters) – The spillover effects of the U.S. central bank unwinding its policy stimulus risk being greater now than in 1994, and that episode highlights the importance of clearly communicating exit strategies from expansionary policies, an EC…
BMW 328i probed for brake problem in U.S
DETROIT (Reuters) – U.S. safety regulators are investigating braking problems in BMW 328i cars from model year 2013 after receiving four consumer complaints.
Marathon Oil to sell stake in Angolan field for $590 million
(Reuters) – Marathon Oil Corp said it plans to sell its stake in an oil and gas field offshore Angola for about $590 million as part of an asset disposal program aimed at shoring up its balance sheet and funding exploration and development projects.
No need for German-style works council at U.S. plant: Daimler
FRANKFURT (Reuters) – Daimler sees no need for a German-style works council at its U.S. plant in Tuscaloosa, the production chief for the carmaker’s Mercedes brand said on Tuesday.
Ford Focus electric car probed in U.S. for stalling while driving
DETROIT (Reuters) – U.S. safety regulators are investigating incidents of stalling in Ford Motor Co Focus electric cars after receiving 12 consumer complaints.
