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About five million VW brand cars hit by emissions scandal, says company

About five million VW brand cars hit by emissions scandal, says company

BERLIN: About 5 million Volkswagen brand cars are affected by the diesel emissions scandal, Herbert Diess, head of Volkswagen brand, said in a statement on Friday. This is part of the 11 million cars the VW group said earlier this week could be affected around the world. (Writing by Madeline Chambers)

September 25, 2015 | By | Reply More
Autonomy's Lynch says report shows HP not hoodwinked on US$11 billion deal

Autonomy's Lynch says report shows HP not hoodwinked on US$11 billion deal

LONDON: Hewlett-Packard Co was made aware of practices at Autonomy, including hardware sales and growth rates boosted by different accounting rules, before it bought the firm for US$11 billion in an ill-fated deal, according to founder Mike Lynch. HP is suing Lynch, and former Autonomy finance director Sushovan Hussain, in London for damages of about […]

September 25, 2015 | By | Reply More
Bill Gates foundation trust sues Brazil's Petrobras

Bill Gates foundation trust sues Brazil's Petrobras

NEW YORK: The Bill & Melinda Gates Foundation Trust has sued Brazil’s Petrobras to recoup stock losses stemming from a corruption scandal at the state-run oil company. According to a complaint filed late Thursday night in federal court in Manhattan, Petrobras’ “pervasive bribery and money laundering scheme” caused the trust and another plaintiff, WGI Emerging […]

September 25, 2015 | By | Reply More
Oil prices gain after choppy week

Oil prices gain after choppy week

NEW YORK: Oil prices rose on Friday (Sep 25) at the end of a volatile week marked by jitters over Chinese demand and US supplies. US benchmark West Texas Intermediate for delivery in November added 79 cents to $45.70 a barrel, helped partly by an improved view of the US economy after second quarter GDP […]

September 25, 2015 | By | Reply More
Nasdaq ends lower as Wall Street rally fizzles

Nasdaq ends lower as Wall Street rally fizzles

NEW YORK: Strong earnings from Nike lifted the Dow on Friday (Sep 25), while weakness in many tech names pushed the Nasdaq lower as a morning rally in US stocks fizzled. The Dow Jones Industrial Average rose 113.35 points (0.70 per cent) to 16,314.67. The broad-based S&P 500 slipped 0.90 (0.05 per cent) to 1,931.34, […]

September 25, 2015 | By | Reply More
BlackBerry devices future rides on fortunes of new Android phone: CEO

BlackBerry devices future rides on fortunes of new Android phone: CEO

WATERLOO, Ontario: BlackBerry Ltd’s decision to roll out a smartphone powered by Google’s Android platform was hotly debated internally but the gamble is necessary to test whether the company’s handset business is viable, Chief Executive John Chen said on Friday. Waterloo, Ontario-based BlackBerry confirmed it planned to introduce an Android smartphone later this year, even […]

September 25, 2015 | By | Reply More
Boehner resignation cuts US government shutdown risk

Boehner resignation cuts US government shutdown risk

NEW YORK: The shock resignation of U.S. House Speaker John Boehner on Friday reduces the chances of a government shutdown next week, potentially removing one source of investor anxiety as Wall Street gears up for a week heavy with economic data and commentary by Federal Reserve policymakers. Boehner said Friday he will step down from […]

September 25, 2015 | By | Reply More
S&P 500 ends flat as biotech selloff offsets Yellen comments

S&P 500 ends flat as biotech selloff offsets Yellen comments

REUTERS: The S&P 500 erased an early Fed-driven rally to close down slightly on Friday, as a selloff in biotechs offset gains in banking shares. The Nasdaq fell 1 percent, while the Nasdaq Biotech Index tumbled 5.1 percent and retested its low from August, when it entered bear market territory. The Dow ended solidly in […]

September 25, 2015 | By | Reply More
China's Xi confident of 'healthy' economic growth

China's Xi confident of 'healthy' economic growth

WASHINGTON: Chinese President Xi Jinping said on Friday (Sep 25) he was confident that his country would post “healthy” growth in the future, amid international worries about a slowdown in the world’s second-largest economy. Xi told a joint press conference with US President Barack Obama after White House talks that China had moved from “speed-based […]

September 25, 2015 | By | Reply More
S&P declares Ukraine in 'selective default'

S&P declares Ukraine in 'selective default'

PARIS: Credit rating agency Standard & Poor’s (S&P) on Friday (Sep 25) declared Ukraine’s sovereign debt to be in “selective default” because of the war-torn nation’s debt restructuring negotiations. Cash-strapped Ukraine has been struggling with its debt since entering a deep economic depression after war broke out with pro-Russian insurgents in its eastern industrial heartland […]

September 25, 2015 | By | Reply More