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  • The grille of the Cadillac Elmiraj concept car as the vehicle is displayed during the press preview day of the North American International Auto Show in Detroit
    GM to battle VW in China with $12 billion investment and new plants

    U.S. car giant General Motors Corp (GM) plans to invest $12 billion in China from 2014 to 2017 and build more plants next year as it competes with aggressive rivals in the world's largest auto market. …

    The grille of the Cadillac Elmiraj concept car as the vehicle is displayed during the press preview day of the North American International Auto Show in Detroit

    U.S. car giant General Motors Corp (GM) plans to invest $12 billion in China from 2014 to 2017 and build more plants next year as it competes with aggressive rivals in the world's largest auto market. GM expects its China sales to expand 8-10 percent this year, in line with the overall growth of the Chinese market, where …

  • In the driving seat: China's yuppies are new market force for global automakers

    By Samuel Shen and Norihiko Shirouzu SHANGHAI/BEIJING (Reuters) - Global automakers are scrambling to meet the demands of China's young urban professionals, who want a car that makes them stand out, yet …

    A model poses beside a Ford Ecosport during a media presentation of the 34th Bangkok International Motor Show in Bangkok

    By Samuel Shen and Norihiko Shirouzu SHANGHAI/BEIJING (Reuters) - Global automakers are scrambling to meet the demands of China's young urban professionals, who want a car that makes them stand out, yet don't always have the money to splurge on a top-end model. After nearly two decades of frenzied growth driven mainly …

  • How one Colorado county is using its marijuana profits

    A county in Colorado has begun spending its tax windfall from the sale of legalized marijuana. A look at where the money's going and whether it's an example for other cash-strapped cities to f …

    Casual Marijuana Use 'Changes Shape of Brain Region Affecting Motivation and Emotion'

    A county in Colorado has begun spending its tax windfall from the sale of legalized marijuana. A look at where the money's going and whether it's an example for other cash-strapped cities to follow.

  • Federal documents: GM delayed power steering recall despite thousands of consumer complaints

    DETROIT - General Motors waited years to recall nearly 335,000 Saturn Ions for power steering failures despite getting thousands of consumer complaints and more than 30,000 warranty repair claims, according …

    Federal documents: GM delayed power steering recall despite thousands of consumer complaints

    DETROIT - General Motors waited years to recall nearly 335,000 Saturn Ions for power steering failures despite getting thousands of consumer complaints and more than 30,000 warranty repair claims, according ...

  • Rajaratnam's brother loses bid to dismiss insider trading charges

    (This story from April 18 corrects the number of counts the judge called "inconsistent" from four to two in 3rd, 16th and 17th paragraphs) By Nate Raymond NEW YORK (Reuters) - Rengan Rajaratnam, the …

    Rengan Rajaratnam, the younger brother of imprisoned hedge fund manager Raj Rajaratnam, departs Manhattan Federal Court in New York

    (This story from April 18 corrects the number of counts the judge called "inconsistent" from four to two in 3rd, 16th and 17th paragraphs) By Nate Raymond NEW YORK (Reuters) - Rengan Rajaratnam, the younger brother of imprisoned hedge fund manager Raj Rajaratnam, on Friday lost a bid to dismiss some of the insider trading …

  • Fiat Chrysler strikes deal to produce Jeeps in China

    Fiat Chrysler has reached an agreement to start producing Jeep vehicles in China with partner Guangzhou Automobile Group Co <601238.SS>, the companies said on Saturday, as Fiat tries to catch up with competitors …

    The Jeep logo is seen on the wheel of a Jeep Grand Cherokee on the showroom at the Massey-Yardley Chrysler, Dodge, Jeep and Ram automobile dealership in Plantation

    Fiat Chrysler has reached an agreement to start producing Jeep vehicles in China with partner Guangzhou Automobile Group Co <601238.SS>, the companies said on Saturday, as Fiat tries to catch up with competitors in a fast-growing market. The plan to produce three new Jeep vehicles in China for the domestic market, through …

  • Mt. Gox suitors seek support to save bitcoin exchange

    (Reuters) - A group of investors seeking to buy Mt. Gox has launched a website to garner support from creditors of the bankrupt bitcoin exchange to prevent a liquidation of its assets.

    Bitcoin themed stickers stand attached to glass doors during the Inside Bitcoins: The Future of Virtual Currency Conference in New York

    (Reuters) - A group of investors seeking to buy Mt. Gox has launched a website to garner support from creditors of the bankrupt bitcoin exchange to prevent a liquidation of its assets.

  • Amazon's tax-free European profits drop after IRS clamp-down

    By Tom Bergin LONDON (Reuters) - The amount of money Amazon.com Inc reports through a tax-exempt vehicle in Europe has dropped sharply in the past two years, even as European sales jumped, after the U.S. …

    A parcel travels along a conveyer belt at Amazon's new distribution center in Brieselang

    By Tom Bergin LONDON (Reuters) - The amount of money Amazon.com Inc reports through a tax-exempt vehicle in Europe has dropped sharply in the past two years, even as European sales jumped, after the U.S. tax authority tightened rules it felt were being abused to shift profits. Amazon minimizes its tax bill by having the …

  • GM could benefit, too, from an ignition-switch victims fund

    If General Motors Co creates a fund to compensate victims of its faulty ignition switches, an option that a top legal adviser suggested it is exploring, the company could give up strong defenses to a wave …

    A man walks past a row of General Motors vehicles at a Chevrolet dealership on Woodward Avenue in Detroit, Michigan

    If General Motors Co creates a fund to compensate victims of its faulty ignition switches, an option that a top legal adviser suggested it is exploring, the company could give up strong defenses to a wave of lawsuits. By setting up a fund, GM could avert years of civil litigation and limit its financial and reputational …

  • The robot is ready - so when will deep sea mining start?

    By Stephen Eisenhammer and Silvia Antonioli NEWCASTLE, England/LONDON (Reuters) - The world's first deep sea mining robot sits idle on a British factory floor, waiting to claw up high grade copper and …

    Employees of Soil Machine Dynamics work on a subsea mining machine being built for Nautilus Minerals at Wallsend

    By Stephen Eisenhammer and Silvia Antonioli NEWCASTLE, England/LONDON (Reuters) - The world's first deep sea mining robot sits idle on a British factory floor, waiting to claw up high grade copper and gold from the seabed off Papua New Guinea (PNG) - when a wrangle over terms is solved. The world waits for the judgment …

  • Toronto Mayor Ford opens re-election bid with 'cut the gravy' vow

    By Cameron French TORONTO (Reuters) - Toronto Mayor Rob Ford launched his re-election campaign on Friday, acknowledging the crack-cocaine scandal that has made him a topic of water cooler talk across …

    Toronto Mayor Rob Ford addresses supporters on the podium during his campaign launch party in Toronto

    By Cameron French TORONTO (Reuters) - Toronto Mayor Rob Ford launched his re-election campaign on Friday, acknowledging the crack-cocaine scandal that has made him a topic of water cooler talk across North America, but also happy to trade on his notoriety. Ford, whose authority was reduced last year by a city council …

  • Microsoft's Xbox One sales cross 5 million

    SAN FRANCISCO (Reuters) - Microsoft Corp has sold over 5 million Xbox One video game consoles to retailers since its launch in November, the company said on Thursday. In January, the U.S. software company …

    XBox One is seen on display at the Wal-Mart Supercenter in the Porter Ranch section of Los Angeles

    SAN FRANCISCO (Reuters) - Microsoft Corp has sold over 5 million Xbox One video game consoles to retailers since its launch in November, the company said on Thursday. In January, the U.S. software company said Xbox One sales had crossed three million as of the end of 2013. The console went on sale on November 22 in 13 countries, …

  • Lululemon CEO looks beyond yoga wear for growth

    By Solarina Ho TORONTO (Reuters) - Lululemon Athletica Inc , best known for its trendy yoga wear, hopes to drive growth in coming years by expanding its range of fitness-related apparel and accelerating …

    A Lululemon Athletica logo is seen outside one of the company's stores in New York

    By Solarina Ho TORONTO (Reuters) - Lululemon Athletica Inc , best known for its trendy yoga wear, hopes to drive growth in coming years by expanding its range of fitness-related apparel and accelerating international plans, its newly appointed chief executive said on Thursday. So far, Lululemon has reached only two-thirds …

  • Ex-Goldman director Gupta starts prison term on June 17

    By Jonathan Stempel NEW YORK (Reuters) - Former Goldman Sachs Group Inc director Rajat Gupta is expected to begin his two-year prison term on June 17 for insider trading. U.S. District Judge Jed Rakoff …

    Rajat Gupta departs Manhattan Federal Court after being sentenced in New York

    By Jonathan Stempel NEW YORK (Reuters) - Former Goldman Sachs Group Inc director Rajat Gupta is expected to begin his two-year prison term on June 17 for insider trading. U.S. District Judge Jed Rakoff in Manhattan directed Gupta to surrender by 2:00 p.m. EDT on that date to start serving his sentence, according to an order …

  • Rockwell Collins looks to join global aircraft tracking task force

    (Reuters) - Rockwell Collins Inc, maker of a key communications system for jets, is interested in joining a task force on improving global airline tracking to prevent further disappearances of planes like …

    (Reuters) - Rockwell Collins Inc, maker of a key communications system for jets, is interested in joining a task force on improving global airline tracking to prevent further disappearances of planes like Malaysia Airlines Flight 370, its chief executive said on Thursday. Chief Executive Officer Kelly Ortberg said the …

  • U.S. jobless claims rise less than expected

    By Lucia Mutikani WASHINGTON (Reuters) - New claims for jobless benefits hovered near their pre-recession levels last week and manufacturing in the Mid-Atlantic region accelerated in April, suggesting …

    Corporate recruiters gesture and shake hands as they talk with job seekers at a Hire Our Heroes job fair targeting unemployed military veterans and sponsored by the Cable Show, a cable television industry trade show in Washington

    By Lucia Mutikani WASHINGTON (Reuters) - New claims for jobless benefits hovered near their pre-recession levels last week and manufacturing in the Mid-Atlantic region accelerated in April, suggesting an upswing in economic activity after a brutally cold winter. Coming on the heels of fairly bullish data on retail sales …

  • Mattel posts first quarterly loss in five years as Barbie sales fall

    Mattel Inc , the world's largest toymaker, reported its first quarterly net loss in nearly five years due to a double-digit fall in sales of its iconic Barbie dolls, sending the company's shares down as …

    Barbie dolls are displayed inside a showroom at a Mattel office in Hong Kong

    Mattel Inc , the world's largest toymaker, reported its first quarterly net loss in nearly five years due to a double-digit fall in sales of its iconic Barbie dolls, sending the company's shares down as much as 3 percent in early trading. Mattel's worldwide sales fell 5 percent to $946.2 million in the quarter ended March …

  • Barclays reorganizes management of investment bank

    Barclays announced a number of promotions in its investment bank's management on Friday as it continues a review of the division that contributes about half of group profit. The British lender said in …

    A logo hangs outside a branch of Barclays bank in London

    Barclays announced a number of promotions in its investment bank's management on Friday as it continues a review of the division that contributes about half of group profit. The British lender said in a statement that it had appointed Eric Felder as head of markets, supervising the investment bank's global sales and trading …

  • Exclusive: U.S. weighs $5 million fine against ex-MoneyGram compliance chief

    By Brett Wolf ST. LOUIS (Reuters) - The U.S. Treasury Department has notified a former compliance chief at MoneyGram International Inc that he may face a fine of up to $5 million over the money transfer …

    By Brett Wolf ST. LOUIS (Reuters) - The U.S. Treasury Department has notified a former compliance chief at MoneyGram International Inc that he may face a fine of up to $5 million over the money transfer giant's previously admitted failures to properly police transactions for illicit activity, sources familiar with the …

  • GSK, facing bribery claims, battles to build new sales model

    Following a decision to cut commercial ties with outside doctors, GSK expects to increase its in-house team of physicians by 10-20 percent over the next year or so from around 1,500 at present, Chief Medical …

    The GlaxoSmithKline building is pictured in Hounslow, west London

    Following a decision to cut commercial ties with outside doctors, GSK expects to increase its in-house team of physicians by 10-20 percent over the next year or so from around 1,500 at present, Chief Medical Officer James Shannon told Reuters. GSK is now investigating claims that bribes were paid to doctors in Poland, …