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Judge approves Takata's U.S. bankruptcy plan

February 17, 2018 by  

WILMINGTON, Del. (Reuters) – Takata Corp’s U.S. unit received court approval for its bankruptcy exit plan, a plaintiffs’ law firm said on Saturday, clearing the way for a $1.6 billion sale of Takata assets and providing compensation for those injured by the company’s deadly air bags.


Source: Reuters Business News

Tesla delays, tax credit concerns spur sales of Chevy Bolts

February 17, 2018 by  

SAN FRANCISCO (Reuters) – Some potential buyers of Tesla’s long-delayed Model 3 sedan are concerned that they will miss out on big federal tax breaks and are looking for alternatives, including General Motors Co’s Chevrolet Bolt, according to postings by would-be Tesla buyers on websites and interviews with GM dealers.


Source: Reuters Business News

Exclusive: Indian banks may take more than $3 billion hit from PNB fraud – tax department

February 17, 2018 by  

NEW DELHI (Reuters) – Indian banks could take a hit of more than $3 billion from loans and corporate guarantees provided to diamond companies at the center of a massive alleged fraud at the state-run Punjab National Bank, the tax department has estimated.


Source: Reuters Business News

Stock volatility: back with a bang and here to stay

February 16, 2018 by  

NEW YORK (Reuters) – U.S. stock markets are unlikely to return to the unusually calm conditions seen last year, even though equities have already recovered more than half the ground lost in the recent selloff and traders have rapidly dialed down fear.


Source: Reuters Business News

ADM, Syngenta settle lawsuit over biotech corn exports to China

February 16, 2018 by  

CHICAGO (Reuters) – U.S. grain merchant Archer Daniels Midland Co has settled a lawsuit with Syngenta over the seed company’s launch of a biotech corn strain that roiled grain exports to China, according to regulatory documents filed on Friday.


Source: Reuters Business News

Qualcomm says open to more deal talks with Broadcom following meeting

February 16, 2018 by  

(Reuters) – Qualcomm Inc on Friday called a meeting with Broadcom Ltd to discuss the latter’s $121 billion bid constructive and opened the door to more talks, but continued to reject the proposed deal between the semiconductor companies.


Source: Reuters Business News

Wall Street pares gains after U.S. indicts Russian nationals, entities

February 16, 2018 by  

(Reuters) – U.S. stocks rose for a sixth straight session on Friday, putting the S&P 500 and the Nasdaq on course for their best week in more than six years, strengthening Wall Street’s pullback after a brutal selloff earlier this month.


Source: Reuters Business News

Uber plans to sell Southeast Asia business to Grab: CNBC

February 16, 2018 by  

(Reuters) – Uber Technologies [UBER.UL] is preparing to sell its Southeast Asia ride-hailing business to Singapore-based Grab in return for a substantial stake in the company, CNBC reported, citing two sources familiar with the matter.


Source: Reuters Business News

Facebook loses Belgian privacy case, faces fine of up to $125 million

February 16, 2018 by  

BRUSSELS (Reuters) – A Belgian court threatened Facebook on Friday with a fine of up to 100 million euros ($125 million) if it continued to break privacy laws by tracking people on third-party websites.


Source: Reuters Business News

GE faces shareholder lawsuit over insurance shortfall, SEC probe

February 16, 2018 by  

NEW YORK (Reuters) – General Electric Co was sued on Friday by a shareholder who accused the conglomerate of concealing mounting insurance liabilities and a U.S. Securities and Exchange Commission probe, costing shareholders tens of billions of dollars.


Source: Reuters Business News

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