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EU antitrust regulators say probing possible German car cartel

EU antitrust regulators say probing possible German car cartel

German magazine Der Spiegel reported on Friday that VW, BMW, Audi, Porsche may have colluded to fix the prices of diesel emissions treatment systems using industry committees. BRUSSELS: EU antitrust regulators are investigating allegations of a cartel among a group of German carmakers, the European Commission said on Saturday, a measure that could result in hefty […]

July 23, 2017 | By | Reply More
Reliance rattles Indian telcos again by unveiling ‘free’ 4G phone

Reliance rattles Indian telcos again by unveiling ‘free’ 4G phone

India’s richest man Mukesh Ambani, unveiled a low-cost 4G-enabled phone on Friday to woo tens of millions of new customers. MUMBAI: India’s disruptive new mobile entrant Reliance Jio, backed by the country’s richest man Mukesh Ambani, unveiled a low-cost 4G-enabled phone on Friday to woo tens of millions of new customers, further destabilising established telecoms […]

July 23, 2017 | By | Reply More
China insurance regulator urges industry to show more ‘self-discipline’

China insurance regulator urges industry to show more ‘self-discipline’

In recent years, some insurers have taken sizable stakes in listed companies, often funded by issuing high-yield, short-term universal life insurance and other investment products. BEIJING: China’s insurance regulator has urged the industry to show greater “self-discipline” and “serve the real economy”, in a nod to the central government’s focus on fighting financial risk. In […]

July 23, 2017 | By | Reply More
India’s Delhi government tells Philip Morris to remove all ads

India’s Delhi government tells Philip Morris to remove all ads

India enacted its national tobacco control law in 2003 and has since added rules to strengthen it, but government officials say companies get away with violations because law enforcement is weak. NEW DELHI: The state government in India’s capital told Philip Morris International Inc and other tobacco companies on Saturday to remove all advertisements from […]

July 23, 2017 | By | Reply More
EU’s car regulator warns against car diesel ban in cities

EU’s car regulator warns against car diesel ban in cities

Commissioner Elzbieta Bienkowska said there would be no benefit in a collapse of the market for diesel cars. BRUSSELS: Banning diesel cars in European cities could hamper automakers’ ability to invest in zero-emission vehicles, the European Union’s commissioner for industry has warned the bloc’s transport ministers. In a letter seen by Reuters, Commissioner Elzbieta Bienkowska […]

July 22, 2017 | By | Reply More
GE shares fall as profit slumps, investors await new CEO’s targets

GE shares fall as profit slumps, investors await new CEO’s targets

It beat analyst expectations on adjusted profit, but cash flow was weak and GE said full-year profit and cash flow will be at the low end of its forecasts. SAN PEDRO: General Electric Co’s shares dropped sharply on Friday after it posted a 59% decline in second-quarter profit and put off an expected cut to […]

July 22, 2017 | By | Reply More
FTC probing allegations of Amazon’s deceptive discounting

FTC probing allegations of Amazon’s deceptive discounting

An analysis found that in 61% of products with reference prices, Amazon’s reference prices were higher than it had sold the same product in the previous 90 days, Consumer Watchdog said in a letter to the FTC dated July 6. WASHINGTON: As part of its review of Amazon’s agreement to buy Whole Foods, the Federal […]

July 22, 2017 | By | Reply More
Ford to petition to avoid US recall of 2.5 million vehicles

Ford to petition to avoid US recall of 2.5 million vehicles

NHTSA said the petition will seek an exemption from the recall because Ford believes the issue is inconsequential. WASHINGTON: Ford Motor Co will petition to avoid a US recall of about 2.5 million vehicles with Takata air-bag inflators that the Japanese auto supplier declared defective last week, US regulators and the automaker said on Friday. […]

July 22, 2017 | By | Reply More
India to quiz Philip Morris on marketing of Marlboro

India to quiz Philip Morris on marketing of Marlboro

Indian government officials previously have said these marketing activities violate the country’s Cigarettes and Other Tobacco Products Act and its accompanying rules, but companies get away with it because enforcement is weak. NEW DELHI: India plans to seek an explanation from Philip Morris International Inc about its marketing practices after Reuters reported that the tobacco […]

July 22, 2017 | By | Reply More
Swatch says profits up in first half

Swatch says profits up in first half

Net profit grew by 6.8% to 281 million Swiss francs (254 million euros), slightly short of analysts’ expectations. ZURICH: Swiss watchmaker Swatch said Friday that its profits rose in the first six months, but its performance was dampened by the strength of the Swiss franc. “The overvalued Swiss franc dampened growth in the first half […]

July 21, 2017 | By | Reply More