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VW says CO2 cheats affect more petrol engines than previously disclosed
Volkswagen manipulated the carbon dioxide (CO2) emission levels of more petrol-powered vehicles than previously disclosed, a spokesman for the carmaker said on Monday. VW said on Nov. 3 it had understated the level of CO2 emissions in about 800,000 cars sold mainly in Europe, and consequently their fuel usage. It said then the cheating affected predominantly 1.2 and 1.4 liter diesel engines and one... [Read more]
Marriott to buy Starwood to create world’s biggest hotel chain
The combined company will have over 5,500 hotels with 1.1 million rooms worldwide, giving Marriott greater presence in markets such as Europe, Latin America and Asia and allowing it to better compete with apartment-sharing startups such as Airbnb. About three-quarters of Marriott's rooms are in the United States. Markets outside North America had about half of Starwood's rooms, but accounted... [Read more]
VW brand sales fall 5.3 percent in first full month of scandal
BERLIN (Reuters) – Volkswagen brand sales fell 5.3 percent in October, the first full month after Europe's biggest carmaker was found cheating diesel emissions tests in the United States. Deliveries of VW brand vehicles dropped to 490,000 cars from 517,400 a year ago, the eighth straight monthly drop at VW's biggest autos division by sales and revenue, the carmaker said on Friday.... [Read more]
Asia shrugs off losses, Aussie spikes on jobs data
By Lisa Twaronite TOKYO (Reuters) – Asian shares shrugged off early losses as crude oil prices pulled away from their overnight lows, while the Australian dollar grabbed the spotlight and surged after a much stronger-than-expected employment report. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.6 percent, erasing its early modest losses. The S&P/ASX 200 index... [Read more]
Snapchat’s daily video views triple to 6 billion: report
The number of videos viewed each day on Snapchat has tripled since May to 6 billion as the messaging app closes the gap with social media giant Facebook Inc, according to a report in the Financial Times that cites people close to the company. The Financial Times said that Snapchat confirmed the 6 billion figure but had declined to comment … Read more here: Snapchat’s daily video views... [Read more]
Nissan joins automakers dropping Takata air bag inflators
Nissan Motor Co said on Saturday it will not use air bag inflators made by Japanese auto parts supplier Takata Corp in its cars. Nissan joins most major automakers, including Toyota Motor Go here to read the rest: Nissan joins automakers dropping Takata air bag inflators Read More →
Berkshire profit doubles to record on Kraft Heinz
By Jonathan Stempel and Jennifer Ablan NEW YORK (Reuters) – Warren Buffett's Berkshire Hathaway Inc said quarterly profit doubled to a record high, reflecting a large gain on its stake in Kraft Heinz Co , while operating profit declined on weaker results from insurance underwriting. Operating profit fell 4 percent to $4.55 billion, or $2,769 per share, from $4.72 billion, or $2,876. ... [Read more]
Ex-Goldman employee pleads guilty over N.Y. Fed leaks
By Brendan Pierson and Nate Raymond NEW YORK (Reuters) – A former Goldman Sachs Group Inc employee pleaded guilty on Thursday to illegally obtaining confidential information from a former colleague at the Federal Reserve Bank of New York. Rohit Bansal, a former associate at Goldman Sachs, pleaded guilty to a… See the original post: Ex-Goldman employee pleads guilty over N.Y. Fed leaks Read More →
VW says fuel usage understated on some models; Porsche warns
Volkswagen on Tuesday said it had understated the fuel consumption of 800,000 cars sold in Europe, while majority stakeholder Porsche Automobil Holding SE warned that VW's latest findings could further weigh on its results. The latest revelation about fuel economy and carbon dioxide emissions, which Germany's largest automaker said represented a roughly 2 billion euro ($2.19 billion) economic... [Read more]
Shire to buy Dyax for $5.9 billion, still wants Baxalta
Shire Plc has agreed to buy U.S. rare disease specialist Dyax Corp for about $5.9 billion – and potentially up to $6.5 billion – while still pursuing a five times larger unsolicited bid for Baxalta Inc . Given its existing HAE presence, Ornskov acknowledged the deal would be scrutinized by antitrust authorities and he said Shire was already preparing for this. Here is the original: Shire... [Read more]