international

U.S. Treasury readies new tax rules as G20 vows to fight evasion

By David Lawder WASHINGTON (Reuters) – The U.S. Treasury Department is finalizing new tax rules aimed at combating the use of shell companies to evade taxes, U.S. Treasury Secretary Jack Lew said on Saturday amid increased pledges by global finance leaders to cooperate on tax issues. In a statement to the International Monetary Fund's steering committee, Lew said the Treasury was finalizing a rule that would require banks to identify the beneficial owners of…

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U.S. Treasury readies new tax rules as G20 vows to fight evasion

international

Fiat Chrysler CEO says can build Tesla Model 3 rival if makes business sense

Fiat Chrysler Automobiles (FCA) could build an Italian-style rival to Tesla's Model 3 within 12 months if the electric carmaker can prove the vehicle makes business sense, FCA Chief Executive Sergio Marchionne said on Friday. Tesla said last week it had received more than 325,000 orders for its new Model 3 sedan in the first week of bookings, although there is no certainty it will be …

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Fiat Chrysler CEO says can build Tesla Model 3 rival if makes business sense

international

UAW election by set of VW Tennessee workers upheld by NLRB

VW had asked for a review of the election, which involved about 160 skilled trades workers at the plant, in which 71 percent voted to join the UAW. The plant has a total hourly workforce of about 1,400 workers.

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UAW election by set of VW Tennessee workers upheld by NLRB

international

Wells Fargo’s systemic importance rose, says U.S. report

Wells Fargo & Co is the only large U.S. bank to become “significantly” more important to the global financial system in recent years, according to a report on Wednesday by a U.S. government research group. The Office of Financial Research, a financial stability watchdog housed within the U.S. Treasury Department, studied the …

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Wells Fargo’s systemic importance rose, says U.S. report

international

Oil falls as dark clouds appear ahead of producer meeting

By Henning Gloystein SINGAPORE (Reuters) – Oil prices fell on Thursday as OPEC warned of slowing demand and Russia hinted that there might only be a loose agreement with little commitments at the upcoming exporter meeting to rein in ballooning oversupply. Meanwhile, Goldman Sachs said that productivity gains by U.S. shale producers were keeping alive its “deflationary outlook” for oil prices as drillers manage to adjust to lower prices, and with confidence in the recent price rally fading, traders have positioned themselves for further price…

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Oil falls as dark clouds appear ahead of producer meeting

international

About 40,000 unionized Verizon workers walk off the job

By Malathi Nayak NEW YORK (Reuters) – Nearly 40,000 Verizon workers walked off the job on Wednesday in one of the largest U.S. strikes in recent years after contract talks hit an impasse, and got a boost as U.S. Democratic presidential hopeful Bernie Sanders joined them at a …

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About 40,000 unionized Verizon workers walk off the job

international

Uber says gave U.S. agencies data on more than 12 million users

Uber Technologies Inc [UBER.UL] on Tuesday released its first ever transparency report detailing the information requested by not only U.S. law enforcement agencies, but also by regulators. The ride-sharing company said that…

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Uber says gave U.S. agencies data on more than 12 million users

international

IMF cuts global growth outlook again, warns of political risks

By David Lawder WASHINGTON (Reuters) – The International Monetary Fund warned on Tuesday of the risk of political isolationism, notably Britain's possible exit from the European Union, and growing economic inequality as it cut its global growth forecast …

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IMF cuts global growth outlook again, warns of political risks

international

Exclusive: Bank of Italy conducting supervisory inspection at Bank of China offices

By Lisa Jucca HONG KONG (Reuters) – The Bank of Italy is carrying out an on-site inspection at the Italian offices of Bank of China Ltd , a Chinese state-owned bank already facing accusations of aiding illicit money flows from Italy to China, a source familiar with the situation said. Italian prosecutors are seeking to bring 297 people, mostly Chinese, as well as the Milan branch of Bank of China to trial on charges of allegedly smuggling more than 4.5 billion euros ($5.12 …

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Exclusive: Bank of Italy conducting supervisory inspection at Bank of China offices

international

IMF supports move to negative rates by some central banks

The International Monetary Fund said on Sunday that a move to negative rates by some of the world's central banks would help deliver extra monetary stimulus and ease lending conditions. Six of the world's central banks have introduced negative rates, most notably the Bank of Japan and the European Central Bank, and around a quarter of the world economy by output is now experiencing official rates that are less than zero.

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IMF supports move to negative rates by some central banks

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