finance

‘Times are changing, pay your taxes’, euro zone chief tells corporations

By Francesco Guarascio and Jason Hovet BRATISLAVA (Reuters) – Multinational companies should refrain from tax-avoidance practices and pay their fair share, the head of euro zone finance ministers said on Saturday in a new endorsement of the European Union's fight against tax-dodging. In the wake…

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‘Times are changing, pay your taxes’, euro zone chief tells corporations

finance

GE’s finance unit sheds its ‘too big to fail’ designation

The move by the Financial Stability Oversight Council was the first time a non-banking firm has been freed from the designation, a product of the financial crash that can trigger stricter oversight and requirements to hold more capital. It was a big victory for GE …

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GE’s finance unit sheds its ‘too big to fail’ designation

finance

Uber, Lyft settle litigation involving top executives

By Dan Levine SAN FRANCISCO (Reuters) – Rival ride services Uber and Lyft have settled high stakes litigation involving two of their top executives, court filings show, in advance of a trial that could have aired sensitive details about both companies. Lyft and its former chief operating officer Travis VanderZanden ended litigation in a California state court in which Lyft accused VanderZanden of breaking his confidentiality pledges when he went to work for Uber. Uber also withdrew a subpoena on Monday in separate litigation over a data breach at …

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Uber, Lyft settle litigation involving top executives

finance

U.S.-UK alliance seen outweighing Brexit trade concerns

The United States looks unlikely to follow through on a threat to relegate Britain to second-class trade status once its ally leaves the European Union, as it weighs the potential costs of undermining the countries' close diplomatic and military ties. President Barack Obama had warned ahead of Thursday's “Brexit” referendum that Britain would move to the back of the queue on U.S. trade priorities if it voted to leave the bloc, well behind…

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U.S.-UK alliance seen outweighing Brexit trade concerns

finance

UK’s Osborne says taxes will rise, spending will be cut after Brexit

LONDON (Reuters) – Finance minister George Osborne said on Tuesday that Britain would have to raise taxes and cut spending to deal with the economic challenge posed after Britons voted to leave the European Union.

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UK’s Osborne says taxes will rise, spending will be cut after Brexit

finance

Daimler hires Deloitte for internal emissions probe

Daimler has hired auditor Deloitte Touche Tohmatsu to help with an internal investigation into its diesel-engine emissions technology requested by the U.S. Department of Justice, the luxury car maker said. The investigation is to see if Daimler used devices to manipulate

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Daimler hires Deloitte for internal emissions probe

finance

German finmin criticizes Volkswagen management over bonuses: paper

Germany's finance minister Wolfgang Schaeuble has criticized the executive board of scandal-ridden carmaker Volkswagen for not waiving bonuses despite bringing the company to the brink of collapse. “I have no sympathy for managers who first drive a large blue chip-listed company into an existence-threatening crisis and then defend their own bonuses in a public debate,” Schaeuble told German weekly Frankfurter Allgemeine Sonntagszeitung. “That shows that something is not working….

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German finmin criticizes Volkswagen management over bonuses: paper

finance

Japan’s pitch for FX action meets cool G20, U.S. response

By Leika Kihara WASHINGTON (Reuters) – Japan's efforts to seek informal consent to act against an unwelcome yen rise bore little fruit, with the United States offering a cool response to concerns voiced by Tokyo that the currency's gains are too sharp and may justify intervention. A lack of G20 sympathy for Tokyo's appeal may embolden yen bulls to test the currency's 17-month highs against the dollar hit earlier this month, keeping Japanese policymakers …

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Japan’s pitch for FX action meets cool G20, U.S. response