PARIS (Reuters) – The head of one of the world’s largest aircraft leasing companies has told leading planemakers to “get their house in order” and wipe out manufacturing delays before pushing already record production rates to even higher levels. FILE PHOTO: General view in a new A320 production line at the Airbus…
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Ex-Swiss banker convicted for selling secret tax data to Germany
ZURICH (Reuters) – A former UBS (UBSG.S) banker accused of selling information about wealthy German tax evaders to German authorities was convicted of economic espionage by a Swiss court on Monday. FILE PHOTO: The logo of Swiss bank UBS is seen in Zurich, Switzerland October 25, 2018. REUTERS/Arnd Wiegmann/File Photo Rene S.,…
Global stock markets falter after China data confirms economic slowdown
LONDON (Reuters) – European shares fell on Monday from six-week highs as a slowdown in China’s economy stalled a global equity rally, but sterling rallied to the day’s highs after Prime Minister Theresa May promised to be more “flexible” with lawmakers over Brexit. Trade in general was subdued with U.S. markets closed…
Oil edge up as investors latch on to OPEC cuts, supply outlook
LONDON (Reuters) – Oil prices edged up on Monday, reversing earlier losses, as investors shrugged off data that confirmed China’s slowing economy and instead latched on to positive supply-side drivers for the market. A pumpjack is seen at the Sinopec-operated Shengli oil field in Dongying, Shandong province, China January 12, 2017. Picture…
France fines Google $57 million for European privacy rule breach
FILE PHOTO: The outside of the Google offices is seen in Manhattan in New York City, New York, U.S., January 18, 2019. REUTERS/Mike Segar/File Photo PARIS (Reuters) – France’s data protection watchdog fined Alphabet’s Google 50 million euros ($57 million) on Monday for breaching European Union online privacy rules, the biggest such…
Nissan’s Ghosn offers to wear electronic ankle tag to get bail
TOKYO (Reuters) – Ousted Nissan Chairman Carlos Ghosn has offered to wear an electronic ankle tag and hire guards to monitor him in an unusual bid to secure his release on bail after two months of detention in Japan for alleged financial crimes. FILE PHOTO: Carlos Ghosn, chairman and CEO of the…
Apollo nears $3.8 billion-plus deal for packaging group RPC: WSJ
Leon Black, Chairman, CEO and Director, Apollo Global Management, LLC, speaks at the Milken Institute’s 21st Global Conference in Beverly Hills, California, U.S. May 1, 2018. REUTERS/Lucy Nicholson (Reuters) – Private equity company Apollo Global Management (APO.N) is in advanced talks to buy Europe’s biggest plastics packaging maker RPC Group (RPC.L) for…
Trade worries sour CEOs’ mood as leaders converge on Davos
DAVOS, Switzerland (Reuters) – Chief executives across the world have grown a lot more pessimistic about the global economic outlook due to trade disputes and tense relations between major powers, a survey showed on the eve of the World Economic Forum in Davos. A person passes by a World Economic Forum logo…
IMF fears trade war and weak Europe could trigger sharp global slowdown
DAVOS, Switzerland (Reuters) – The International Monetary Fund on Monday cut its world economic growth forecasts for 2019 and 2020 due to weakness in Europe and some emerging markets, and said failure to resolve trade tensions could further destabilize a slowing global economy. In its second downgrade in three months, the global…
Canadian railways ration space as commodity congestion problems worsen
WINNIPEG, Manitoba (Reuters) – Canada’s two major railways are rationing space on trains traveling to the country’s biggest port and recently prioritized some commodities over others to deal with congestion, the latest indication of their struggle to meet demand from new trade deals. A locomotive moves through the Canadian National (CN) railyards…
Toyota, Panasonic to set up EV battery JV in 2020: source
TOKYO (Reuters) – Toyota Motor Corp (7203.T) and Panasonic Corp (6752.T) are set to launch a joint venture next year to produce batteries for electric vehicles (EV) in an effort to compete with Chinese rivals, a source familiar with the matter said. Toyota Motor Corp President Akio Toyoda (L) and Panasonic Corp…
China set to post slowest growth in 28 years in 2018, more stimulus seen
BEIJING (Reuters) – China is expected to report on Monday that economic growth cooled to its slowest in 28 years in 2018 amid weakening domestic demand and bruising U.S. tariffs, adding pressure on Beijing to roll out more support measures to avert a sharper slowdown. A woman looks at job advertisements on…
Berkshire’s lithium venture may supply U.S. automakers, including Tesla: FT
FILE PHOTO: Warren Buffett, CEO of Berkshire Hathaway Inc, plays bridge as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018. REUTERS/Rick Wilking/File Photo (Reuters) – Warren Buffett’s Berkshire Hathaway Inc has signed an agreement to allow extraction of lithium from its geothermal wells in California, a…
Italy regulator gives TIM’s network separation plan thumbs down
ROME (Reuters) – Telecom Italia (TIM) (TLIT.MI) has suffered a setback in its plan to assuage pressures for a separation of its prized network assets by placing them into a wholly owned subsidiary, as the industry regulator said it was opposed to the proposal. FILE PHOTO: Telecom Italia’s new logo of the…
ProSieben sees pressure easing as Netflix raises prices
MUNICH (Reuters) – ProSiebenSat.1 Media believes that price increases by U.S. streaming giant Netflix could ease competitive pressures on the German group’s core TV business and is bullish on growth at its e-commerce arm, CEO Max Conze said. FILE PHOTO – The Netflix logo is seen on their office in Hollywood, Los…
Small electric cars may be unaffordable for some: VW chairman to newspaper
FILE PHOTO: Hans Dieter Poetsch, Chairman of the Volkswagen’s supervisory board, speaks during the Volkswagen Group’s annual general meeting in Berlin, Germany, May 3, 2018. REUTERS/Axel Schmidt BERLIN (Reuters) – The move to electric vehicles will make cars significantly more expensive, meaning they may become unaffordable for people on low incomes in…
Sorrell’s S4 Capital seeks more deals in digital-only drive
MUNICH (Reuters) – Martin Sorrell is on the lookout for acquisitions to expand his new advertising venture S4 Capital, aiming to capitalize on the disruption sweeping the industry by pursuing a pure-play digital strategy. FILE PHOTO: Sir Martin Sorrell attends a conference at the Cannes Lions International Festival of Creativity, in Cannes,…
Eurotunnel boss says a second referendum would still back Brexit
Jacques Gounon, Chairman and Chief Executive Officer of Channel tunnel operator Getlink, formerly known as Eurotunnel, poses before the company’s 2017 annual results presentation in Paris, France, February 21, 2018. REUTERS/Stephane Mahe PARIS (Reuters) – Britons would back Brexit again if asked to vote in a second referendum, the head of Eurotunnel…
India’s SBI says lenders awaiting SEBI decision on Etihad offer for Jet Airways: paper
FILE PHOTO: A Jet Airways plane is parked as another moves to the runway at the Chhatrapati Shivaji International airport in Mumbai, India, February 14, 2018. REUTERS/Danish Siddiqui/File Photo NEW DELHI (Reuters) – The State Bank of India (SBI.NS) (SBI)-led consortium of lenders is waiting for India’s capital markets regulator to decide…
Ghosn may have had questionable ethics, co-chair of external Nissan probe says
TOKYO (Reuters) – The co-chair of a committee set up by Japanese automaker Nissan Motor Co (7201.T) to examine the root cause of alleged financial misconduct by ousted chairman Carlos Ghosn said he believed Ghosn may have had questionable ethical standards. FILE PHOTO: The logos of car manufacturers Renault and Nissan are…