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Recalled cars create a costly problem for U.S. auto dealers

With the recalls affecting Honda vehicles dating back several years, used-car dealers are facing increased pressure. It is legal under federal law to sell used cars with unrepaired safety defects that are subject to recall, but dealers that operate under franchises with manufacturers could be violating those agreements. It is illegal to sell new cars that are subject to a recall under federal law.

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Recalled cars create a costly problem for U.S. auto dealers

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As Big Oil shrinks, boards plot different paths out of crisis

By Ron Bousso and Terry Wade LONDON/HOUSTON (Reuters) – As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis. Crude prices have tumbled around 70 percent over the past 18 months to around $35 a barrel, leading to five of the world's top …

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As Big Oil shrinks, boards plot different paths out of crisis

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Exclusive: France’s Sephora to open shops in Iran next year

By Astrid Wendlandt and Pascale Denis PARIS (Reuters) – France's Sephora plans to open several shops in Iran starting next year, becoming one of the first major European specialist cosmetics retailers to directly invest in the country as it emerges from years of economic sanctions. Sephora, part of luxury industry leader LVMH , running around 2,000 outlets worldwide, is keen to build its presence in Iran …

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Exclusive: France’s Sephora to open shops in Iran next year

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Largest U.S. banks face $120 billion shortfall under new rule

The requirements are aimed at ensuring the banks, which include Bank of America Corp. , Bank of New York Mellon Corp. , Citigroup Inc. , Goldman Sachs Group Inc. , JPMorgan Chase & Co. , Morgan Stanley , State Street Corp. and Wells Fargo & Co. are able to recapitalize without disrupting markets or requiring

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Largest U.S. banks face $120 billion shortfall under new rule

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U.S. retailers push banks to use PINs on credit cards as confusion reigns

By Jim Finkle BOSTON (Reuters) – Some big U.S. retailers are stepping up efforts to use personal identification numbers, or PINs, with new credit cards embedded with computer chips in a bid to prevent counterfeit card fraud. A small band

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U.S. retailers push banks to use PINs on credit cards as confusion reigns

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Chevron slashes jobs and spending to weather low oil prices

Chevron Corp is slashing 10 percent of its workforce and sharply paring back its budget, with Chief Executive Officer John Watson giving a downbeat view on Friday of an industry beleaguered by low oil prices. A more than 55 percent decline in crude oil since last year has rippled through the global energy industry, forcing producers and their suppliers to make tough decisions. For Chevron, that means cutting its budget by 25 percent next year by spending less in Australia, Angola and the U.S. Gulf …

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Chevron slashes jobs and spending to weather low oil prices