World + Economy

Audi CEO, Rupert Stadler speaks during the world premiere of the new Audi A5 and S5 Coupe car at the company's headquarters in Ingolstadt

CEO says Audi plans three electric car models by 2020: paper

Reuters - Audi aims to have three electric car models by 2020 and for electric vehicles to account for 25 to 30 percent of its sales by 2025, Chief Executive Rupert Stadler told a German newspaper. Audi's ele…

Suncor Energy head office is pictured in Calgary

Suncor isolates pipeline leak at Alberta plant: regulator

Reuters - (Reuters) - The Alberta Energy Regulator (AER) said on Friday a leak at a diluent pipelin…

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  • Audi CEO, Rupert Stadler speaks during the world premiere of the new Audi A5 and S5 Coupe car at the company's headquarters in Ingolstadt
    CEO says Audi plans three electric car models by 2020: paper Reuters

    Audi aims to have three electric car models by 2020 and for electric vehicles to account for 25 to 30 percent of its sales by 2025, Chief Executive Rupert Stadler told a German newspaper. Audi's electric …

    Audi CEO, Rupert Stadler speaks during the world premiere of the new Audi A5 and S5 Coupe car at the company's headquarters in Ingolstadt

    Audi aims to have three electric car models by 2020 and for electric vehicles to account for 25 to 30 percent of its sales by 2025, Chief Executive Rupert Stadler told a German newspaper. Audi's electric cars push, reported by Reuters earlier this week, is part of a strategic overhaul following the emissions scandal at …

  • Whirlpool's biggest challenge is rapid changes in global markets: CEO Reuters

    Whirlpool Corp's biggest challenge in the last year has been managing rapid change and currency volatility in global markets such as turmoil after Britain's vote to leave the European Union, Chief Executive …

    A Whirlpool logo is seen on a range door at a Whirlpool manufacturing plant in Cleveland

    Whirlpool Corp's biggest challenge in the last year has been managing rapid change and currency volatility in global markets such as turmoil after Britain's vote to leave the European Union, Chief Executive Officer Jeff Fettig said in an interview on Friday. Britain, where Whirlpool records about $1 billion in revenues, …

  • Suncor isolates pipeline leak at Alberta plant: regulator Reuters

    (Reuters) - The Alberta Energy Regulator (AER) said on Friday a leak at a diluent pipeline at Suncor Energy Inc's base plant near Fort McMurray, Alberta has been shut and isolated. Suncor estimates about …

    Suncor Energy head office is pictured in Calgary

    (Reuters) - The Alberta Energy Regulator (AER) said on Friday a leak at a diluent pipeline at Suncor Energy Inc's base plant near Fort McMurray, Alberta has been shut and isolated. Suncor estimates about 20 cubic meters of diluent was released from the pipeline, according to the AER. The pipeline is used for transporting …

  • Fiat Chrysler recalling 410,000 vehicles Reuters

    Fiat Chrysler Automobiles NV said on Friday it is recalling nearly 410,000 vehicles worldwide because of a defect that can lead to a loss of propulsion. The automaker said it will update software and …

    People talk as they stand next to a logo of Fiat Chrysler Automobiles (FCA) in Turin

    Fiat Chrysler Automobiles NV said on Friday it is recalling nearly 410,000 vehicles worldwide because of a defect that can lead to a loss of propulsion. The automaker said it will update software and replace wire harnesses to address the electronic issue that appears in a small number of vehicles. The recall includes …

  • S&P 500 companies start facing up to the potential Brexit costs Reuters

    By Noel Randewich and Caroline Valetkevitch SAN FRANCISCO/NEW YORK (Reuters) - U.S. companies, facing investors in their first profit reporting season since Great Britain voted to leave the European Union, …

    General Motors CEO Mary Barra presents the new Opel Astra during the media day at the Frankfurt Motor Show (IAA) in Frankfurt

    By Noel Randewich and Caroline Valetkevitch SAN FRANCISCO/NEW YORK (Reuters) - U.S. companies, facing investors in their first profit reporting season since Great Britain voted to leave the European Union, are broadly conceding that the so-called "Brexit" could weigh on earnings. Companies from General Motors to Yum …

  • U.S. asks phone companies to provide 'robocall' blocking technology Reuters

    By David Shepardson WASHINGTON (Reuters) - The chairman of the Federal Communications Commission on Friday pressed major U.S. phone companies to take immediate steps to make technology that blocks unwanted …

    Federal Communications Commission Chairman Tom Wheeler speaks at the FCC Net Neutrality hearing in Washington

    By David Shepardson WASHINGTON (Reuters) - The chairman of the Federal Communications Commission on Friday pressed major U.S. phone companies to take immediate steps to make technology that blocks unwanted automated calls available to consumers at no charge. FCC Chairman Tom Wheeler, in letters to CEOs of major phone …

  • Chanel snaps up 4 companies to secure high-end silk supplies Reuters

    By Astrid Wendlandt PARIS (Reuters) - French luxury goods maker Chanel has created a silks production unit by investing in high-end specialists, it said on Friday after completing the third deal in four …

    Chanel perfume Coco Mademoiselle on display at the duty free during the inauguration of the commercial zone at the Nice international airport Terminal 1 in Nice

    By Astrid Wendlandt PARIS (Reuters) - French luxury goods maker Chanel has created a silks production unit by investing in high-end specialists, it said on Friday after completing the third deal in four months aimed at strengthening its supply chain. Chanel said the four companies, in the Loire region, were long-standing …

  • Wal-Mart beats shareholder appeal in Mexico bribery lawsuit Reuters

    Wal-Mart Stores Inc executives and directors persuaded a federal appeals court on Friday to reject shareholder claims that they permitted and then covered up pervasive bribery by officials at the world's …

    A shopper pushes a cart in front of a Wal-Mart store in Mexico City

    Wal-Mart Stores Inc executives and directors persuaded a federal appeals court on Friday to reject shareholder claims that they permitted and then covered up pervasive bribery by officials at the world's largest retailer's Mexico unit. By a 3-0 vote, the 8th U.S. Circuit Court of Appeals in St. Louis upheld a lower court …

  • Verizon emerges as front-runner in Yahoo auction: sources Reuters

    Yahoo Inc is focusing on U.S. telecommunications company Verizon Communications Inc as the buyer of its core business after reviewing final bids that it received this week, people familiar with the matter …

    Photo illustration of a Yahoo logo displayed on a monitor in Encinitas

    Yahoo Inc is focusing on U.S. telecommunications company Verizon Communications Inc as the buyer of its core business after reviewing final bids that it received this week, people familiar with the matter said on Friday. A deal would boost Verizon's AOL internet business, which the company acquired last year for $4.4 …

  • IMF Chief Lagarde to stand trial in negligence case Reuters

    By Chine Labbé PARIS (Reuters) - France's highest appeals court ruled on Friday that International Monetary Fund chief Christine Lagarde must stand trial for her role in a 400 million euros ($440 million) …

    IMF Managing Director Christine Lagarde speaks about strengthening global tax policy at the 2016 IMF World Bank Spring Meeting in Washington

    By Chine Labbé PARIS (Reuters) - France's highest appeals court ruled on Friday that International Monetary Fund chief Christine Lagarde must stand trial for her role in a 400 million euros ($440 million) state payout in 2008 to businessman Bernard Tapie. A Paris appeals court has ordered Tapie to reimburse the state, …

  • Volkswagen halts sales of most vehicles in South Korea ahead of ministry review Reuters

    SEOUL/FRANKFURT (Reuters) - German carmaker Volkswagen will suspend sales of most of its models in South Korea from July 25 as pressure builds on the company over its falsified emissions tests. South …

    Logos of Volkswagen and Audi are seen on a wheel of a car at a used car dealership in Seoul

    SEOUL/FRANKFURT (Reuters) - German carmaker Volkswagen will suspend sales of most of its models in South Korea from July 25 as pressure builds on the company over its falsified emissions tests. South Korea is the latest country forcing Volkswagen to take drastic measures to repair its image since the carmaker admitted …

  • Sweden's Kinnevik says Zalando can withstand Amazon threat Reuters

    Swedish investment firm Kinnevik, which backs Europe's biggest pure online fashion firm Zalando, is confident the retailer can withstand competition from Amazon because it caters to a different type of …

    A Zalando label lies on an item of clothing in a showroom of the fashion retailer Zalando in Berlin

    Swedish investment firm Kinnevik, which backs Europe's biggest pure online fashion firm Zalando, is confident the retailer can withstand competition from Amazon because it caters to a different type of customer. Zalando's shares have tumbled 11 percent this year as investors have expressed fears it is more exposed to Amazon's …

  • China seeks top-10 automation ranking by 2020: robot industry group Reuters

    China is aiming for a top-10 ranking in automation for its industries by 2020 by putting more robots in its factories, the International Federation of Robotics (IFR) said. China's push to modernize its …

    Robots covered in plastic sheets are seen at a plant of Kuka Robotics in Shanghai

    China is aiming for a top-10 ranking in automation for its industries by 2020 by putting more robots in its factories, the International Federation of Robotics (IFR) said. China's push to modernize its manufacturing with robotics is partly a response to labor shortages and fast-rising wages. By 2020, it aims to boost …

  • MasterCard may apply for China payment license this year Reuters

    By Matthew Miller BEIJING (Reuters) - MasterCard Inc hopes to apply this year to become a payment service provider in China after the government opened the market, but the company is still weighing whether …

    View shows credit cards

    By Matthew Miller BEIJING (Reuters) - MasterCard Inc hopes to apply this year to become a payment service provider in China after the government opened the market, but the company is still weighing whether to do so alone or with a partner, senior executives said on Friday. The world's most populous country is "pretty …

  • FDA raises concerns over Valeant's eye drop Reuters

    (Reuters) - Valeant Pharmaceuticals International said on Friday U.S. regulators have raised concerns over a new eye drop manufactured at a Bausch + Lomb facility in Florida. The U.S. Food and Drug Administration, …

    A sign for the headquarters of Valeant Pharmaceuticals International Inc is seen in Laval Quebec

    (Reuters) - Valeant Pharmaceuticals International said on Friday U.S. regulators have raised concerns over a new eye drop manufactured at a Bausch + Lomb facility in Florida. The U.S. Food and Drug Administration, in a complete response letter (CRL) regarding the eye drop for a type of glaucoma, raised concerns over Current …

  • LME trading resumes after four hour delay on technical outage Reuters

    Trading on the London Metal Exchange's electronic platforms restarted just before 0400 GMT after technical issues delayed the start of trading for almost four hours on Friday. The delayed was due to technical …

    File photo of men walking past the London Metal Exchange (LME) in London

    Trading on the London Metal Exchange's electronic platforms restarted just before 0400 GMT after technical issues delayed the start of trading for almost four hours on Friday. The delayed was due to technical issues relating to members' ability to connect to the market, a spokesman at LME-owner Hong Kong Exchanges and …

  • Aetna, Humana map legal strategy to salvage merger Reuters

    By Caroline Humer and Carl O'Donnell NEW YORK (Reuters) - Health insurer Aetna Inc , whose $33 billion purchase of Humana Inc has been spurned by the U.S. government, faces a tough but not impossible …

    A trader points up at a display on the floor of the New York Stock Exchange

    By Caroline Humer and Carl O'Donnell NEW YORK (Reuters) - Health insurer Aetna Inc , whose $33 billion purchase of Humana Inc has been spurned by the U.S. government, faces a tough but not impossible legal battle to try to reinstate the deal. Aetna vowed to fight “to the very end” after the Department of Justice filed …

  • U.S. moves to block massive health insurer deals led by Anthem, Aetna Reuters

    By Caroline Humer and Carl O'Donnell NEW YORK (Reuters) - U.S. antitrust officials on Thursday moved to block an unprecedented consolidation of the national health insurance market, filing a lawsuit against …

    The office building of health insurer Anthem is seen in Los Angeles, California

    By Caroline Humer and Carl O'Donnell NEW YORK (Reuters) - U.S. antitrust officials on Thursday moved to block an unprecedented consolidation of the national health insurance market, filing a lawsuit against Anthem Inc's proposed purchase of Cigna Corp and Aetna Inc's planned acquisition of Humana Inc . The U.S. Department …

  • U.S. sides with HSBC to block release of money laundering report Reuters

    By Mica Rosenberg NEW YORK (Reuters) - The U.S. government asked a federal appeals court on Thursday to block the release of a report detailing how HSBC Holdings Plc is working to improve its money laundering …

    A window cleaner works at a branch of HSBC in Leicester

    By Mica Rosenberg NEW YORK (Reuters) - The U.S. government asked a federal appeals court on Thursday to block the release of a report detailing how HSBC Holdings Plc is working to improve its money laundering controls after the British bank was fined $1.92 billion. In a brief filed with the 2nd U.S. Circuit Court of …

  • Ex-Barclays executive seen as strong contender to replace EBS' Mandelzis Reuters

    By Patrick Graham and Gertrude Chavez-Dreyfuss LONDON/NEW YORK (Reuters) - Former Barclays global head of electronic trading Tim Cartledge is seen as a leading contender to take the helm at EBS BrokerTec …

    A sign is seen on an ICAP office in the City of London

    By Patrick Graham and Gertrude Chavez-Dreyfuss LONDON/NEW YORK (Reuters) - Former Barclays global head of electronic trading Tim Cartledge is seen as a leading contender to take the helm at EBS BrokerTec after Thursday's announcement that Chief Executive Gil Mandelzis will step down, sources close to EBS said. Cartledge …