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Exiled tycoon Mallya: India wrong to sequester some assets in graft case
Exiled tycoon Vijay Mallya said on Sunday that Indian authorities trying to recover about $1.4 billion from his collapsed Kingfisher Airlines had no legal grounds for sequestering certain assets in a money laundering case. The Enforcement Directorate (ED) tweeted on Saturday that it had “attached” properties worth 14.11 billion Indian rupees ($210.78 million) in the case involving a loan... [Read more]
Tesla to clarify how customers may disclose problems
Tesla Motors Inc on Friday revised a nondisclosure clause in its customer repair agreements after a U.S. regulator took issue with the practice, while the electric carmaker's chief executive separately called most customer reports of suspension problems in its Model S sedan fraudulent. Tesla CEO Elon Musk went on the offensive on … View post: Tesla to clarify how customers may disclose... [Read more]
Luxottica sues BCBG Max Azria over Wayfarer sunglasses trademark
By Jonathan Stempel (Reuters) – Luxottica Group Spa , the maker of Ray-Ban sunglasses, has sued BCBG Max Azria Group LLC, accusing the fashion house of knowingly infringing its famous Wayfarer trademark. The complaint, filed on Wednesday with the U.S. District Court in Los Angeles, said BCBG Max Azria's unauthorized sale of infringing eyewear was Continued here: Luxottica sues BCBG Max... [Read more]
U.S. accuses Valeant’s Salix unit of kickbacks, false claims
By Jonathan Stempel NEW YORK (Reuters) – The United States has joined a whistleblower lawsuit accusing the Salix unit of Valeant Pharmaceuticals International Inc of paying illegal kickbacks to doctors and submitting fraudulent reimbursement claims to the government. In a complaint made public on Thursday in the U.S. District Court in Manhattan, the government said Salix… View post: U.S.... [Read more]
Drivers sue Uber, Lyft over exit from Austin, Texas
Former Uber Technologies Inc and Lyft Inc drivers in Austin, Texas, on Thursday accused the ride-hailing companies of breaking a federal law by abruptly halting operations in the city after voters backed a measure requiring them to fingerprint drivers. The lawsuits filed in federal court in San Francisco, where the companies are based, said Uber and Lyft violated a law that requires companies to give... [Read more]
Trump criticizes GM for Mexico investments
Republican presidential candidate Donald Trump rebuked General Motors Co on Tuesday, widening his criticism of American companies that have invested in Mexico. Trump has made criticism of Ford Motor Co a staple of his campaign speeches for more than a year, repeatedly suggesting that the… Read the original: Trump criticizes GM for Mexico investments Read More →
Fed’s Mester says gradual rate hikes still appropriate after jobs report
The latest disappointing U.S. jobs number has not changed the overall economic picture and gradual rate hikes remain appropriate, Cleveland Federal Reserve President Loretta Mester said on Saturday. The Fed raised rates in December for the first time in nearly a decade. “I still believe that in order to achieve our monetary policy goals, a gradual upward pace Read more from the original source: Fed’s... [Read more]
Shares set for monthly gains, dollar buoyed by Fed outlook
By Anirban Nag LONDON (Reuters) – Global shares steadied at one-month highs on Tuesday, on track for a third straight month of gain, while the dollar held strong near two-month peaks on expectations the U.S. interest rates could rise next month. “In an environment of dollar strength, the People's Bank of China may well be forced to further depreciate the renminbi, risking the possibility... [Read more]
Suncor ramping up operations after Canada wildfire
By Ethan Lou TORONTO (Reuters) – Suncor Energy Inc's facilities north of Fort McMurray, Alberta, are expected to partially restart by the end of the week, the company said on Sunday, the latest sign Canadian oil sands producers are coming back online after a massive wildfire. The start-up of Suncor's base plant and MacKay River sites is under way, with “initial production”... [Read more]
Data analysis from Paris raid on Google will take months, possibly years: prosecutor
By Chine Labbé PARIS (Reuters) – Analysis of data seized by investigators in last week's raid of Google's Paris headquarters could possibly take years, French financial prosecutor Eliane Houlette said on Sunday. Dozens of French police raided Google's offices on Tuesday, escalating an investigation over suspected tax evasion. “We have collected a lot of computer data,”... [Read more]