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Banks, brokers gird for Brexit-style tumult following Tuesday’s election
Big global banks, including Morgan Stanley, JPMorgan Chase & Co and Goldman Sachs Group Inc are bracing for potential tumult on financial markets after Tuesday's U.S. election. As a result, Asia-focused banks HSBC and Japan's Nomura Holdings Ltd are among institutions boosting staff levels, while others are raising the margin requirements for trading to cope with a possible spike in... [Read more]
Corolla, Toyota’s car for the masses, turns 50
This weekend marks the 50th anniversary of the Toyota Corolla, one of the world's best-selling cars. Since the first model went on sale in Japan on Nov. 5, 1966, some 44.3 million Corollas have been sold globally through the end of September, including the Corolla Fielder station wagon and other variants, the Japanese automaker says. Here are some milestones along the way and where it stands... [Read more]
Delta turns to apartment-sharing service Airbnb for more business
(Reuters) – Delta Air Lines Inc on Wednesday announced a marketing agreement with Airbnb, becoming one of the largest established companies in the travel industry to embrace the 8-year-old apartment-sharing service. Delta, the world's No. 2 airline by passenger traffic, said customers can earn award miles toward free flights when booking stays with Airbnb. This follows similar promotions... [Read more]
Chipmaker Broadcom to buy network gear maker Brocade for $5.5 billion
Chipmaker Broadcom Ltd said on Wednesday it would buy network gear maker Brocade Communications Systems Inc for $5.5 billion to expand its fiber channel and data storage businesses, the latest in a flurry See more here: Chipmaker Broadcom to buy network gear maker Brocade for $5.5 billion Read More →
Gawker settles with ex-pro wrestler Hulk Hogan for $31 million: court document
By Jessica DiNapoli NEW YORK (Reuters) – Shuttered online news website Gawker Media LLC has reached a $31 million cash settlement with Hulk Hogan, the former professional wrestler who obtained a $140 million judgment against the site over a leaked sex tape. Hogan's judgment forced Gawker, known for its irreverent tone and gossipy posts, into bankruptcy in June. “As with any negotiation... [Read more]
Women executives left Yahoo amid layoffs, deal talk
Women executives left Yahoo Inc at an unusually high rate after the U.S. technology company announced plans to sell itself earlier this year, but it was not immediately clear why, according to the company's 2016 diversity report, released on Monday. The sharp drop comes as Silicon Valley faces pressure to diversify a workforce heavily dominated by white and Asian men. In July, it struck a … See... [Read more]
VW HR chief says expects five-digit number of job cuts: FAZ
BERLIN/FRANKFURT (Reuters) – Volkswagen expects the shift to electric cars to cost a five-digit number of jobs in coming years, the Frankfurter Allgemeine Zeitung newspaper reported, citing the carmaker's human resources chief. Karlheinz Blessing, who sits on VW group's nine-member top management board, said the carmaker will need to cut jobs in production as assembly of electric engines... [Read more]
Baker Hughes-GE talks come after difficult time for both companies
Industrial giant General Electric Co and oilfield services company Baker Hughes, both beset by difficulties during oil's two-year price rout, may have a clear path out of the doldrums: join forces. GE said Thursday it was in discussions with Baker Hughes Inc but not to acquire the company outright. Baker Hughes said Friday talks were ongoing. Go here to read the rest: Baker Hughes-GE talks come... [Read more]
BMW recalling 154,472 vehicles in U.S., Canada over fuel pumps
DETROIT (Reuters) – BMW is recalling 154,472 vehicles registered in the United States and Canada for a fuel pump problem that could cause stalling, according to a filing with U.S. safety regulators and BMW. View original here: BMW recalling 154,472 vehicles in U.S., Canada over fuel pumps Read More →
Qualcomm to buy NXP for $38 billion in biggest chip deal
Smartphone chipmaker Qualcomm Inc agreed to buy NXP Semiconductors NV for about $38 billion in the biggest-ever deal in the semiconductor industry, making it the leading supplier to the fast-growing automotive chips market. The acquisition will also help Qualcomm, which provides chips to Android smartphone makers and Apple Inc , reduce… Go here to see the original: Qualcomm to buy NXP for... [Read more]