NEW YORK (Reuters) - Global equity markets reached a two-year low on Tuesday as the outlook for raw materials prices and emerging markets remained soft, while U.S.
N), the maker of Jack Daniel’s whiskey, has hired Goldman Sachs Group Inc (GS.N) to explore the sale of brands that include liqueur labels Southern Comfort and Chambord, according to people familiar with the matter.
13 billion lawsuit accusing New York City of effectively taking away his air rights over the landmark train station by letting the developer SL Green Realty Corp (SLG.Earlier talks to sell the rights to SL Green were unsuccessful, it said.
MEXICO CITY (Reuters) - Volkswagen is checking whether the roughly 32,000 series EA 189 diesel engine vehicles it has sold in Mexico since 2009 provided “altered” emissions data to local authorities, the company said in a statement on Tuesday.Volkswagen has admitted to cheating in diesel emissions tests in the United States, prompting the worst crisis in its 78-year history, which has sent shockwaves through the global car industry.
PA) relaunched plans to offer conversions of its competing A320, forging a partnership with Singapore’s ST Aerospace after an earlier Russian-backed effort stalled on costs and jet values.“We are looking at potentially pursuing a freighter conversion program for the 737-800.
N) said on Monday it will move production of large, gas-powered engines to Canada from Wisconsin, along with 350 jobs, to access export financing no longer available in the United States.Export-Import Bank’s charter which expired in June, GE will invest $265 million in a new state-of-the-art manufacturing plant at a Canadian location yet to be determined.
WASHINGTON (Reuters) - The head of the world’s largest pilots union urged the airline industry on Monday to find ways to alleviate the rising costs of aviators’ schooling, saying a shortage of regional airline pilots looms in the United States.cities and hurt regional carriers where many commercial pilots get their start, such as Republic Airways Holdings Inc RJET.
” His remarks come amid skepticism from analysts and investors that the machine known as Keurig Kold will take off.It is due to be launched on Tuesday on the company’s website and in six U.
LONDON (Reuters) - Britain’s second-largest steelmaker SSI UK said on Monday it would mothball its Redcar iron and steelmaking plant in northeast England, and axe about 1,700 jobs.“This is an extremely sad day for all of us at SSI UK, and in particular our employees and their families,” said Cornelius Louwrens, SSI UK’s chief operating officer.
A global glut of aluminum, which has depressed prices, has battered Alcoa stock, driving the company’s market value this year down to about $12 billion.An Alcoa aluminum plant in Alcoa, Tennessee is seen in this April 8, 2014 file photograph.
LONDON (Reuters) - Vodafone and Liberty Global have abandoned talks about a swap of business assets in Europe’s converging mobile phone, broadband and TV markets, they said on Monday, having failed to agree on valuations.Related CoverageVodafone, Liberty talks broke down on asset values: sourceShares in Vodafone, which had fallen 10 percent since the talks were revealed in June, were trading down 3.
DE) light commercial vehicles account for 1.8 million of the 11 million diesel cars fitted with software linked to a scandal over rigged emissions tests, a spokesman for VW’s commercial vehicles business told a German newspaper.
WOLFSBURG, Germany (Reuters) - Volkswagen appointed Matthias Mueller, the head of its Porsche unit, as its new chief executive following an emissions cheating scandal that its chairman described as a “moral and political disaster”.“Under my leadership, Volkswagen will do all it can to develop and implement the strictest compliance and governance standards in the whole industry,” Mueller said.
A Fed spokesperson said Yellen felt fine after the incident.The speech was Yellen’s first since last week’s Fed decision to delay a much-anticipated rate “lift-off.
Noah Barkin8 Min ReadBERLIN (Reuters) - Angela Merkel learned early in her political career that taking on the German car industry carries risks.But Matthias Wissmann, the transport minister with close ties to industry, was having none of it.
Waterloo, Ontario-based BlackBerry confirmed it planned to introduce an Android smartphone later this year, even as it also reported weaker-than-expected quarterly results.The move marks a shift away from its own BlackBerry 10 platform, which failed to regain market share ceded to Apple Inc’s iPhone and a slew of Android-powered devices.
WOLFSBURG, Germany (Reuters) - Volkswagen knows it will take much more than just new leadership and a corporate overhaul to clear the air after it was caught cheating in U.The new chief executive, 62-year-old Matthias Mueller, until now head of the Porsche sports-car division, faces a host of problems that had already been looming before the diesel scandal broke and may now be worsened by its repercussions.
LONDON (Reuters) - The rush by VW’s boss to quit because of the emissions scandal has drawn criticism from some of the company’s leading investors, who expect more bad news that could damage Martin Winterkorn’s successor.“His departure was inevitable but I do think that he should have taken a little more of the heat a little bit longer,” a top-20 shareholder in VW said.
Louis Federal Reserve President James Bullard said on Friday it is not clear if other policymakers will have enough new data in hand by October to support a rate hike, suggesting the liftoff decision won’t happen until December.The Fed delayed hiking rates then to allow more time to study the possible impact on the U.
“Under my leadership, Volkswagen will do all it can to develop and implement the strictest compliance and governance standards in the whole industry,” Mueller said in a statement.The company said it would appoint a U.