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China’s Midea receives U.S. green light for Kuka takeover
China's Midea said it will complete its takeover of German robotics maker Kuka in the first half of January after the United States authorities gave the deal a green light. The bid for Kuka, a high-tech robotics manufacturer, sparked controversy in Germany amid fears that key technologies were falling into foreign hands at a time when China protects its own companies against foreign takeovers.... [Read more]
Oil down, but ends year with biggest gain since 2009
U.S. benchmark West Texas Intermediate (WTI) crude futures were down 5 cents, or 0.1 percent, at $53.72 a barrel, while Brent fell 3 cents, or 0.1 percent, to $56.82. Oil prices have slumped since Continued here: Oil down, but ends year with biggest gain since 2009 Read More →
U.S. refiners face severe labor shortage for deferred maintenance
(Reuters) – After years of running flat out, U.S. Gulf Coast refiners are lining up repairs to plants in 2017 – but facing a severe labor shortage that could delay work, drive up costs and raise accident risks. See the original post: U.S. refiners face severe labor shortage for deferred maintenance Read More →
Power surge: Chinese electric car battery maker charges for global market
A dusty village on the outskirts of Ningde, a third-tier city in China's southeast, seems an unlikely place for the headquarters of a potential global leader in future automotive technology. China's Read the original here: Power surge: Chinese electric car battery maker charges for global market Read More →
Blindsided by SUV boom, Hyundai Motor trims costs, perks
The South Korean automaker has been hit by its exposure to weak emerging markets, and a product line-up that features more sedans than sport utility vehicles, just as SUVs have become more popular across many global markets. Since October, Hyundai Motor Group executives have taken a 10 percent pay cut, the first such move in seven years. The number of executives at Hyundai Motor alone has risen by... [Read more]
How JPMorgan could not save Italy’s problem bank
MILAN/LONDON (Reuters) – On the morning of July 29, former Italian Industry Minister Corrado Passera was traveling in a high-speed train toward the medieval city of Siena, racing to meet the directors of the world's oldest bank to present them with a rescue plan. Monte dei Paschi di Siena, Italy's third-largest lender, was destined to be … Read the original: How JPMorgan could... [Read more]
Lockheed CEO tells Trump she will work to drive down cost of F-35
(Reuters) – The chief executive of Lockheed Martin Corp told President-elect Donald Trump on Friday that she was committed to driving down the cost of the company's F-35 fighter jet, a day after Trump took aim at the cost of the F-35 in a Twitter post… Here is the original post: Lockheed CEO tells Trump she will work to drive down cost of F-35 Read More →
Platinum Partners arrests are scant consolation for alleged victims
By Lawrence Delevingne NEW YORK (Reuters) – When six executives of Platinum Partners, including founder Mark Nordlicht, were arrested on Monday on federal charges of running a more than $1 billion hedge fund fraud, people who had long alleged they were harmed by the New York-based firm … Here is the original: Platinum Partners arrests are scant consolation for alleged victims Read More →
Volkswagen reaches deal with 80,000 U.S. 3.0-liter vehicle owners
A federal judge said on Thursday that Volkswagen AG has reached an agreement in principle to provide “substantial compensation” to the owners of about 80,000 3.0-liter polluting diesel vehicles, a key hurdle to resolve the German automaker's emissions scandal. U.S. District Judge Charles Breyer did not disclose the amount of owner compensation, which Original post: Volkswagen reaches... [Read more]
U.S. sues Barclays, ex-executives for mortgage securities fraud
The U.S. Department of Justice on Thursday sued Barclays Plc and two former executives on civil charges of fraud in the sale of mortgage-backed securities during the run-up to the 2008-09 financial crisis. The lawsuit was filed after Barclays resisted a penalty the U.S. government had sought in settlement negotiations, a person familiar with the matter said. Major U.S. banks, including JPMorgan Chase... [Read more]