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Volkswagen says it might not resume U.S. sales of diesel vehicles
By David Shepardson WASHINGTON (Reuters) – Volkswagen AG said on Wednesday it has not decided if it will resume selling diesel vehicles in the United States, even if it were allowed to, in the wake of the automaker's emissions cheating scandal. The German automaker has been barred from selling diesel vehicles in the United States since late 2015 after it acknowledged using “defeat... [Read more]
Bayer’s Monsanto acquisition to face politically charged scrutiny
WASHINGTON D.C./NEW YORK (Reuters) – As the global agricultural sector races to consolidate, Bayer AG's $66 billion all-cash deal to acquire Monsanto Co will test growing political and consumer unease in the United States and abroad over the future of food production. Bayer’s pesticide-focused agricultural business has few overlaps with Monsanto's dominant seed franchise, according... [Read more]
Hanjin Shipping secures $45 million, more may take ‘considerable time’
SEOUL/SYDNEY (Reuters) – The chairman of Hanjin Group transferred 40 billion won ($36 million) to Hanjin Shipping on Tuesday to help unload cargo stranded on the troubled shipper's vessels, a spokesman said, but regulators warned securing further funds could take “considerable time”. The parent of Hanjin Shipping pledged last week to raise 100 billion won to help … See... [Read more]
Berkshire is accused in New York lawsuit of workers’ compensation ‘siphoning’
By Jonathan Stempel NEW YORK (Reuters) – Berkshire Hathaway Inc has been sued by a New York bicycle courier company over an alleged illegal scheme to cheat employers buying workers' compensation policies. The complaint, filed late Friday by Breakaway Courier Systems, came as Berkshire's Applied Underwriters unit faces scrutiny over its workers' compensation policies, including... [Read more]
Fed looks unlikely to hike next week after Brainard warning
The Federal Reserve should avoid removing support for the U.S. economy too quickly, Fed Governor Lael Brainard said on Monday in comments that solidified the view the central bank would leave interest rates unchanged next week. Brainard said she wanted to see a stronger trend in U.S. consumer spending and evidence of rising inflation before the Fed raises rates, and… Read more from the original... [Read more]
VW’s Audi steps up collaboration with Chinese tech groups
FRANKFURT (Reuters) – Volkswagen's luxury car unit Audi has agreed to deepen collaboration with Chinese internet technology groups to offer more digital services in the world's largest car market. Read more: VW’s Audi steps up collaboration with Chinese tech groups Read More →
Wal-Mart stops selling Egyptian cotton sheets made by India’s Welspun
Wal-Mart Stores Inc on Friday said it will stop selling Egyptian cotton sheets made by Welspun India after the Indian manufacturer was unable to assure them the products were authentic. Last month, U.S. retailer Target Corp severed ties with Welspun after accusing them of passing off cheap sheets as premium Egyptian cotton for two years. “Welspun has not been able to assure us the products are... [Read more]
Dell to cut 2,000-3,000 jobs as EMC deal closes: Bloomberg
Most of the job cuts will be in the United States, Bloomberg reported on Thursday, citing people familiar with the matter. The layoffs will be mainly in supply chain, marketing and general and administrative divisions, Bloomberg said, adding that the combined company has 140,000 employees. “As is common with deals of this size, there will be some overlaps we will need to manage Read more from... [Read more]
Google to buy software developer Apigee for $625 million
By Julia Love and Natalie Grover SAN FRANCISCO (Reuters) – Alphabet Inc's Google said on Thursday it is acquiring software developer Apigee Corp in a deal valued at about $625 million, the tech giant’s latest effort to claim a greater share of the lucrative cloud business. The service is critical for businesses transitioning to the cloud, Diane Read more: Google to buy software developer... [Read more]
U.S. jobless claims fall as labor market remains strong
The number of Americans filing for unemployment benefits unexpectedly fell last week, pointing to sustained labor market strength even as the pace of job growth is slowing. Despite signs of underlying labor market strength, also corroborated by record high job openings, August's slowdown in job growth, together with sluggish factory and services sector activity could encourage the Federal Reserve... [Read more]