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US judge sentences Volkswagen to three-years' probation, oversight

US judge sentences Volkswagen to three-years' probation, oversight

DETROIT: A federal judge in Detroit on Friday sentenced Volkswagen AG to three years’ probation and independent oversight for the German automaker’s diesel emissions scandal as part of a US$4.3 billion settlement announced in January. “This is a case of deliberate and massive fraud,” U.S. District Judge Sean Cox said in approving the settlement that […]

April 21, 2017 | By | Reply More
Wall Street slips as investors brace for French election

Wall Street slips as investors brace for French election

REUTERS: Wall Street slipped in late morning trading on Friday as investors held off from making risky bets ahead of the first round of the closely contested French presidential election. Centrist Emmanuel Macron is leading most opinion polls for Sunday’s election and is expected to contest a second-round run-off with Marine Le Pen, head of […]

April 21, 2017 | By | Reply More
US judge hands Volkswagen three-year probation sentence

US judge hands Volkswagen three-year probation sentence

DETROIT: A federal judge in Detroit on Friday sentenced Volkswagen AG to three years’ probation over the German automaker’s diesel emissions scandal as part of a US$4.3 billion settlement announced in January. “This is a case of deliberate and massive fraud,” U.S. District Judge Sean Cox said in approving the settlement that requires the automaker […]

April 21, 2017 | By | Reply More
GE cash flow turns negative in quarter; profit, revenue beat

GE cash flow turns negative in quarter; profit, revenue beat

NEW YORK: General Electric Co reported on Friday that first-quarter cash flow from its industrial operations turned negative and was less than the company expected, though its earnings and revenue exceeded analyst estimates. The maker of jet engines, power plants and other industrial equipment reported a negative US$1.6 billion in cash flow from industrial operating […]

April 21, 2017 | By | Reply More
N.Y. Fed leaves US first-quarter, second-quarter GDP view little changed

N.Y. Fed leaves US first-quarter, second-quarter GDP view little changed

NEW YORK: The New York Federal Reserve said on Friday it left its outlook on U.S. gross domestic product in the first quarter and second quarter little changed from the preceding week following a mixed bag of economic data this week. The regional central bank’s “Nowcast” forecast program showed first-quarter GDP on track to expand […]

April 21, 2017 | By | Reply More
Struggling apparel retailer Bebe Stores to shut all stores

Struggling apparel retailer Bebe Stores to shut all stores

REUTERS: Struggling apparel retailer Bebe Stores Inc said on Friday it would close all its stores by the end of May, barely a month after announcing it was exploring strategic alternatives following four years of losses. The company, which had 180 stores at the end of 2016, also plans to liquidate all merchandise and fixtures […]

April 21, 2017 | By | Reply More
US retailers bet on Congress over Bolivia to thwart Trump  border tax issue

US retailers bet on Congress over Bolivia to thwart Trump border tax issue

CHICAGO: Target Corp , Wal-Mart Stores Inc and other retailers are shelving considerations to move supply bases closer to the United States in the face of a possible border tax, banking instead on killing support for the tax idea in Congress. President Donald Trump’s push to impose a tax on imports, such as the 20 […]

April 21, 2017 | By | Reply More
US existing home sales surge 4.4 percent in March

US existing home sales surge 4.4 percent in March

WASHINGTON: U.S. home resales rose more than expected in March to the highest level in more than a decade as more homes came on the market and were quickly snapped up by consumers. The National Association of Realtors said on Friday that existing home sales increased 4.4 percent to a seasonally adjusted annual rate of […]

April 21, 2017 | By | Reply More
Investors not yet ruffled by looming government shutdown

Investors not yet ruffled by looming government shutdown

NEW YORK: U.S. stocks have struggled since the timeline for the Trump administration’s pro-growth agenda came into question, but investors appear confident that next week’s deadline that could shut down the federal government will not become another market hurdle. A new spending bill, or an extension of the current one, needs to pass next week […]

April 21, 2017 | By | Reply More
Wall Street set to open slightly higher; French election eyed

Wall Street set to open slightly higher; French election eyed

REUTERS: Wall Street opened little changed on Friday as earnings rolled in, while investors braced for the first round of the closely contested French presidential election. The Dow Jones Industrial Average rose 16.56 points, or 0.08 percent, to 20,595.27, the S&P 500 lost 0.83 points, or 0.035 percent, to 2,355.01 and the Nasdaq Composite added […]

April 21, 2017 | By | Reply More