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Mondelez abandons pursuit of U.S. chocolate maker Hershey

The abandoned deal, which would have created the world's largest confectioner, underscores the grip that a charitable trust has on the maker of Hershey's Kisses and Reese's Peanut Butter Cups. The trust which controls Hershey was set up by the company's founder over a century ago to fund and run a school for underprivileged children. Hershey rejected a $107 per share acquisition offer from Mondelez at the end of June.

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Mondelez abandons pursuit of U.S. chocolate maker Hershey

Japan government finds Mitsubishi overstated mileage for eight more models

Japan's transport ministry on Tuesday ordered Mitsubishi Motors Corp to stop domestic sales of eight vehicle models after an investigation found the automaker overstated their fuel economy, the second

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Japan government finds Mitsubishi overstated mileage for eight more models

VW reviews procurement strategy in wake of supplier dispute

Volkswagen is reviewing its supplier and procurement strategy to avoid another crippling dispute like the one that caused production slowdowns and even stoppages at six plants this month, Chief Executive Matthias Mueller said. VW suppliers Car Trim and ES Automobilguss, both part of Prevent Group, triggered the disruptions by halting deliveries of seat covers and cast iron parts for gearboxes, exposing how dependent VW has become

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VW reviews procurement strategy in wake of supplier dispute

Oil prices rise on U.S. weather disruption, OPEC action speculation

Oil futures rose on Tuesday supported by production suspensions in the U.S. Gulf due to an expected tropical storm and speculation that producers meeting in Algeria next month will act to prop up prices. Brent crude futures were trading at $49.73 per barrel at 0924 GMT, up 47 cents from the previous close. U.S. West Texas Intermediate (WTI) crude was up 45 cents at $47.43 a barrel.

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Oil prices rise on U.S. weather disruption, OPEC action speculation

EU demands Apple pay Ireland up to 13 billion euros in tax

By Foo Yun Chee BRUSSELS (Reuters) – EU antitrust regulators ordered Apple on Tuesday to pay up to 13 billion euros ($14.5 billion) in taxes plus interest to the Irish government after ruling that a special scheme to route profits…

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EU demands Apple pay Ireland up to 13 billion euros in tax

Sycamore Partners, liquidators bid on bankrupt U.S. teen retailer Aeropostale

Bankrupt U.S. teen retailer Aeropostale Inc received bids this week for its business from private equity firm Sycamore Partners, as well as liquidators, firms that wind down businesses, according to people familiar with the matter. Investment firm Versa Capital Management LLC did not submit a bid for

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Sycamore Partners, liquidators bid on bankrupt U.S. teen retailer Aeropostale

Exclusive: Iraq plans to sell oil through Iran if talks with Kurds fail

By Stephen Kalin BAGHDAD (Reuters) – Iraq's government would consider selling crude through Iran should talks with the autonomous Kurdish region on an oil revenue-sharing agreement fail, a senior oil ministry official in Baghdad told

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Exclusive: Iraq plans to sell oil through Iran if talks with Kurds fail

China’s BYD forecasts up to 91 percent profit rise for first nine months

Chinese automaker BYD Co Ltd , backed by Warren Buffett's Berkshire Hathaway Inc , on Sunday predicted an up to 91-percent profit increase in the first nine months of the year, as government policies drive green car sales. The Shenzhen-based company forecast an 83 percent to 91 percent rise in net profit for the first nine months, between 3.6 billion yuan ($539.8 million) to 3.7 billion yuan, according to a stock exchange filing. For the first half of 2016, BYD reported 2.3 billion yuan in profit, a 384 percent increase…

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China’s BYD forecasts up to 91 percent profit rise for first nine months

Germany’s economy minister: U.S.-EU free trade talks have failed

Germany's Economy Minister Sigmar Gabriel said on Sunday that talks on the Transatlantic Trade and Investment Partnership (TTIP), a free trade deal being negotiated by the United States and the European Union, had essentially failed. “Things are not moving on that front,” said Gabriel, who is also Germany's vice chancellor. The U.S.

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Germany’s economy minister: U.S.-EU free trade talks have failed

As Fed nears rate hikes, policymakers plan for ‘brave new world’

By Jason Lange and Ann Saphir JACKSON HOLE, Wyo. (Reuters) – Federal Reserve policymakers are signaling they could raise U.S. interest rates soon but they are already weighing new tools they may need to fight the next recession. A solid U.S. labor market “has strengthened” the case for the first rate increase since

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As Fed nears rate hikes, policymakers plan for ‘brave new world’

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