BERLIN (Reuters) - German Economy Minister Sigmar Gabriel leapt to the defense of Volkswagen on Wednesday, saying the carmaker’s latest disclosure that it understated the fuel usage of up to 800,000 cars showed the company was serious about clearing up the emissions scandal.“Volkswagen has flagged the CO2 issue itself, that shows the company is serious about transparency,” Gabriel said during a news conference in Berlin.
L) sought to ease investor concerns over its planned $70 billion takeover of BG Group BG.L on Tuesday, announcing further benefits and cost cuts aimed at making the deal work with an oil price in the mid-$60s a barrel.
NEW YORK (Reuters) - Crude prices settled up about 4 percent on Tuesday as a rally in U.6 percent, at $50.
Federal Courthouse in the Manhattan borough of New York in this October 15, 2015 file photo.Aaron Williamson, Conti’s lawyer, acknowledged his client did factor in traders’ positions in his role setting the U.
The S&P energy index.SPNY rose 2.
QUITO (Reuters) - A World Bank tribunal reduced to about $1 billion the amount Ecuador must pay Occidental Petroleum Corp (OXY.In 2012, the International Centre for Settlement of Investment Disputes awarded Occidental $1.
economy is on track to grow 1.This was slower than the regional Fed’s prior estimate of 2.
TORONTO (Reuters) - Quebec is sure that its $1 billion lifeline for Bombardier Inc (BBDb.“We have structured this as a separate company and a limited partnership between the government and Bombardier,” said Quebec Finance Minister Carlos Leitão, while speaking with media on the sidelines of the P3 2015 investment conference in Toronto.
DXY provided some support to oil as commodities priced in the greenback became more affordable for users of the euro and other currencies.That, and sluggish new U.
China premier suggests China needs minimum economic growth of 6.5 percent next five years: Bloomberg
SHANGHAI (Reuters) - China’s Premier Li Keqiang said China requires annual growth of at least 6.53 percent over the next five years, Bloomberg reported, citing unidentified sources.
The maker of Hershey kisses and Reese’s peanut butter cups reported lower-than-expected U.On the high-end, consumers are more willing to pay up for premium brands like Green & Black’s organic chocolate bars.
(Reuters) - General Electric Co said on Wednesday it will spend more than $200 million to build two factories in Alabama to expand its capacity to make high strength materials for jet engines and power plant turbines.The LEAP engine was developed by CFM International, a joint venture between GE and France’s Snecma (Safran).
Economists had expected gross domestic product to expand at an annual rate of 1.Many, however, raised their forecasts after the Commerce Department reported that the goods trade deficit fell to $58.
The official manufacturing Purchasing Managers’ Index(PMI) likely edged up to 50.The official PMI survey focuses more on larger, state-owned firms while another private one on the small and mid-sized companies, which are facing tougher financial and operating conditions.
judge to reject a subpoena from the National Labor Relations Board in its case claiming the company is a “joint employer” of franchise workers, saying the requests are unfair and costly.“The General Counsel’s subpoena to McDonald’s is, we believe, one of the most burdensome in the history of the agency,” the company’s lawyers wrote.
T) Chief Executive Carlos Ghosn said on Wednesday he was not worried about the longer-term potential of the Chinese economy, characterizing the recent slowdown as a temporary correction.“I think this is a temporary slowdown,” Ghosn, who also heads Nissan’s French partner, Renault SA (RENA.
WASHINGTON (Reuters) - Lockheed Martin Corp (LMT.N) has won a contract worth $260 million for the purchase of materials need to build the next batch of 28 C-130J Super Hercules transport planes in fiscal 2016, which began Oct.
DE) may offer customers in Germany discounts on new vehicle purchases if they turn in certain old models affected by the emissions cheating scandal, a senior source at VW said.6-litre diesel engines which require costly component upgrades rather than just software fixes, the source said, confirming a report by German news agency DPA.
single-family home sales fell to near a one-year low in September after two straight months of gains, but a jump in prices suggested that housing remained on solid ground.The moderation in new home sales is at odds with other housing reports that have painted a bullish picture of the sector.
PA) control by purchasing a larger stake in its French parent, sources told Reuters, amid an escalating power struggle between Renault-Nissan alliance boss Carlos Ghosn and the French state, Renault’s biggest shareholder.The stand-off marks a new low in Ghosn’s relationship with the French government.