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U.S. regulators upgrade, expand Fiat Chrysler gearshift probe
The U.S. National Highway Traffic Safety Administration said Monday it is expanding a defect investigation of 856,000 Fiat Chrysler SUVs and cars because the vehicles may roll away after drivers exit, thinking they have put the transmission in Park. Read more: U.S. regulators upgrade, expand Fiat Chrysler gearshift probe Read More →
Google CEO Pichai receives stock grant worth about $199 million
(Reuters) – Google Chief Executive Sundar Pichai received restricted stock worth about $199 million, according to a regulatory filing by Google parent company Alphabet Inc . Pichai, who took over in August, received a grant for 273,328 Class C Google stock units on Feb. 3. The valuation is based on the stock's closing price on that date. On the same day, Pichai sold 375 Class A common shares... [Read more]
New Jersey sues Volkswagen over excess diesel emissions
New Jersey on Friday filed a lawsuit against Volkswagen AG and its luxury units over the German automaker's excess diesel emissions, becoming the fourth U.S. state to take legal action. New Jersey's acting attorney general, John J. Hoffman, accused VW and its Porsche and Audi units of perpetrating a massive fraud on consumers and violating state clean air laws. VW has admitted installing... [Read more]
Canadian love affair with Manhattan real estate seen unabated
By Allison Lampert MONTREAL (Reuters) – Canadian investment in the Manhattan commercial property market is expected to stay strong this year after quadrupling to hit a record in 2015, real estate specialists said. Canadians accounted for almost a third of the $25.6 billion in foreign capital that poured into Manhattan commercial properties last year, with … Originally posted here: Canadian... [Read more]
Viacom names CEO Dauman as chair as Redstone exits; daughter protests
By Jessica Toonkel NEW YORK (Reuters) – Viacom Inc's board of directors named Chief Executive Officer Philippe Dauman as executive chairman, replacing majority owner Sumner Redstone, overriding calls for an independent board chief from Redstone's … More here: Viacom names CEO Dauman as chair as Redstone exits; daughter protests Read More →
Xerox to split into two companies, Icahn to get board seats on one
Xerox Corp will split into two companies, one holding its legacy printer operations and the other its business process outsourcing unit, it said on Friday, in a bid to be more nimble after years of trying to integrate the businesses. Activist investor Carl Icahn, who first revealed a stake in Xerox in November, will get three board seats on the outsourcing company. Xerox Chief Executive Officer Ursula... [Read more]
VW may offer discounts to owners of cars with illicit software, DPA says
FRANKFURT/BERLIN (Reuters) – Volkswagen may offer VW owners in Germany discounts on new cars if they turn in certain old models affected by the emissions scandal that has rocked Europe's biggest carmaker, German news agency DPA reported on Sunday. Volkswagen is battling the biggest business crisis in its 78-year history after admitting last month it installed software in diesel vehicles... [Read more]
Airlines to enjoy low fuel in 2016, costs under spotlight
By Victoria Bryan and Conor Humphries DUBLIN (Reuters) – Airlines can look forward to continuing low oil prices for at least this year, helping to boost profits and drive demand for travel, but need to be wary … Read the rest here: Airlines to enjoy low fuel in 2016, costs under spotlight Read More →
Two medical colleagues duel over Sumner Redstone’s mental fitness
Doctors Stephen Read and James Spar are collaborators on a chapter of a forthcoming psychiatry textbook, colleagues at UCLA’s medical school and go-to court experts on the evaluation of mental fitness in the elderly. In the 2014 fight over whether owner Donald Sterling was fit to decide the fate of the Los Angeles Clippers basketball team, the two psychiatrists agreed Here is the original: Two medical... [Read more]
Bond King musical chairs: Gundlach replaces Gross on Barron’s Roundtable
By Jennifer Ablan NEW YORK (Reuters) – In recent years, bond investor Jeffrey Gundlach has been outperforming his rival Bill Gross. Now, Gundlach has replaced Gross on a high-profile investor panel. Weekly financial magazine Barron's said on Saturday that Gross decided to quit its Barron's Roundtable. Go here to see the original: Bond King musical chairs: Gundlach replaces Gross on... [Read more]