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UAW election by set of VW Tennessee workers upheld by NLRB
VW had asked for a review of the election, which involved about 160 skilled trades workers at the plant, in which 71 percent voted to join the UAW. The plant has a total hourly workforce of about 1,400 workers. Read the original post: UAW election by set of VW Tennessee workers upheld by NLRB Read More →
Tech start-ups snap at the heels of Asian private bankers
Scanning a bank statement into a computer may not sound particularly high-tech, but it's unsettling some of Asia's private bankers. By aggregating all the monthly statements mailed Read the rest here: Tech start-ups snap at the heels of Asian private bankers Read More →
Panama law firm says it hasn’t been approached by investigators yet
The founding partner of Mossack Fonseca, the Panamanian law firm hit by a huge leak of offshore financial data, told a German newspaper his company had not yet been approached by anyone as part of investigations. Ramon Fonseca also said the release of more than 11.5 million company emails was the result of hacking from a computer overseas rather than an inside job and that he knew which country the... [Read more]
U.S. to continue appeal of iPhone data case in New York
Just two weeks ago, the government dropped its effort to require Apple to crack an iPhone used by one of the shooters in the December attacks in San Bernardino, California, saying it had unlocked the phone without Apple's help. Some observers thought the government would back away from the New York case too, since the suspect has already pleaded guilty. Read the rest here: U.S. to continue appeal... [Read more]
Fed’s Williams eyes two 2016 rate hikes: Fox Business Network
San Francisco Fed President John Williams said Thursday that at least two interest-rate hikes this year is the “right course” so long as the U.S. economy continues to grow, businesses add jobs, and inflation picks up as he expects. “If the … Go here to see the original: Fed’s Williams eyes two 2016 rate hikes: Fox Business Network Read More →
Tata Steel to launch UK sale process by Monday: UK minister
India's Tata Steel will launch the formal sale process for its British assets by Monday and give a “reasonable” timeframe to find a buyer, Britain's business minister said after meeting the company's chairman in Mumbai. Prime Minister David Cameron's government has sought to broker a deal with potential buyers after Tata Steel put its British operations up for sale... [Read more]
Swiss police raid UEFA as Panama Papers scandal spreads
ZURICH/REYKJAVIK, (Reuters) – Swiss police raided the European soccer body UEFA on Wednesday to seize information about a contract disclosed in the Panama Papers that was signed by Gianni Infantino, now head of the global soccer body FIFA. The impact of the leaked documents from a Panamanian law firm is snowballing, with Iceland facing a political crisis after its prime minister stepped aside... [Read more]
U.S. weakens retirement advice rule, responding to industry
By Suzanne Barlyn and Lisa Lambert WASHINGTON (Reuters) – A new U.S. rule aimed at protecting retirement savers from profit-hungry brokers turned out to be much weaker than an initial proposal after the Obama administration bowed to pressure from the financial services industry. The rule, announced by the Department of Labor on Wednesday, sets a so-called fiduciary standard for financial brokers... [Read more]
Pfizer, Allergan scrap $160 billion deal after U.S. tax rule change
U.S. drugmaker Pfizer Inc and Ireland-based Allergan Plc walked away from their $160 billion merger on Wednesday, a major win for President Barack Obama, who has been pushing to curb deals in which companies move overseas to cut taxes. Pfizer said the decision was driven by new U.S. Treasury rules aimed at such deals, called inversions. The merger would have allowed New York-based Pfizer to cut its... [Read more]
Asian shares firm after solid U.S. jobs data, dollar soft
By Hideyuki Sano TOKYO (Reuters) – Asian share prices held firm on Monday after solid U.S. payroll data underpinned investor risk sentiment while last week's dovish comments from Federal Reserve Chair Janet Yellen kept the U.S. dollar in check. Oil… See more here: Asian shares firm after solid U.S. jobs data, dollar soft Read More →