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Oil prices give up earlier gains; languish near 11-year lows

By Jacob Gronholt-Pedersen and Roslan Khasawneh SINGAPORE (Reuters) – Oil prices on Wednesday gave back earlier gains, retreating toward the previous session's close near 11-year lows as concerns over growing…

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Oil prices give up earlier gains; languish near 11-year lows

Volkswagen brand chief says ‘confident’ of finding solution to U.S. diesel issues

(Reuters) – The head of Volkswagen AG's top selling brand said Tuesday he is “confident” the German automaker will reach agreement with U.S regulators to bring nearly 500,000 diesel vehicles into compliance with U.S. emissions laws. “We are confident we will find an acceptable solution,” VW brand chief Herbert Diess said at a press conference at the Consumer Electronics Show in Las Vegas, Nevada. Volkswagen has admitted it installed software in certain diesel models sold…

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Volkswagen brand chief says ‘confident’ of finding solution to U.S. diesel issues

Exclusive: Verizon launches auction to sell data centers – sources

A sale would represent the latest effort by Verizon, the No. 1 U.S. wireless carrier, to streamline its portfolio following a divestment last year of a chunk of its landline business and a portfolio of wireless towers. It would also mark a reversal of its strategy to expand in hosting and colocation services after it acquired data center operator Terremark Worldwide Inc in 2011 for $1.4 billion. The so-called 'colocation' portfolio up for sale includes 48 data centers, and generates…

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Exclusive: Verizon launches auction to sell data centers – sources

GM China auto sales rise 5.2 percent in 2015

General Motors Co's vehicle sales in China rose 5.2 percent to 3.61 million in 2015, the U.S. carmaker said on Wednesday. GM and its Chinese joint venture partners sold 445,227 vehicles last month, a 14 percent rise from a year earlier, matching its growth rate for November. The automaker plans to launch 13 new or revamped models in China in 2016, including the Cadillac CT6, Malibu XL and Cruze XL, compared with 12 launches last year, according to a written statement posted on its website.

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GM China auto sales rise 5.2 percent in 2015

Asia stocks buffeted by China worries, North Korea nuclear test

Asian shares fell on Wednesday and most emerging currencies retreated as China allowed the yuan to weaken further, stoking fears about its slowing economy, while a North Korean nuclear test heightened geopolitical tensions. Souring sentiment toward riskier assets in turn lifted safe-havens such as the Japanese yen

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Asia stocks buffeted by China worries, North Korea nuclear test

Ford, Toyota ally to counter Silicon Valley in dashboard war

By Joseph White LAS VEGAS (Reuters) – Toyota Motor Corp and Ford Motor Co said on Monday they will adopt the same software to link smartphone apps to vehicle dashboard screens and invited other automakers to join them to counter Apple Inc and Google's push to control cars of the future. Toyota, the world's largest automaker by vehicle sales, and…

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Ford, Toyota ally to counter Silicon Valley in dashboard war

Oil rises as market ponders scale of future Iran exports

By Amanda Cooper LONDON (Reuters) – Oil prices rose on Monday after a breakdown in diplomatic ties between Saudi Arabia and Iran that some speculated could result in supply restrictions, although gains were tempered by data showing some of Asia's largest economies are struggling. Saudi Arabia, the world's biggest oil exporter…

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Oil rises as market ponders scale of future Iran exports

GM, Lyft announce $500 million investment by automaker and strategic alliance

By Steve Trousdale SAN FRANCISCO (Reuters) – General Motors Inc and Lyft Inc Monday announced an alliance to develop an on-demand network of autonomous vehicles as well as a $500 million investment by the automaker as part of a $1 billion fund-raising round by the ride-sharing service. The two companies said the partnership, which involves one of…

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GM, Lyft announce $500 million investment by automaker and strategic alliance

Fidelity drops credit card partners American Express, Bank of America

By Tim McLaughlin BOSTON (Reuters) – Fidelity Investments said on Monday it is dropping long-time credit card partners American Express Co and Bank of America Corp , ending a 12-year partnership that has generated billions of dollars in fees. Boston-based Fidelity, which has 24 million customers, said its new partners will be U.S. Bancorp and

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Fidelity drops credit card partners American Express, Bank of America

U.S. manufacturing activity slumps, construction spending falls

By Lucia Mutikani NEW YORK (Reuters) – The U.S. manufacturing sector contracted further in December, as the impact of a stronger U.S. dollar undermined export profitability, while U.S. construction spending fell for the first time in nearly 1-1/2 years in November, suggesting only moderate economic growth in the fourth quarter of 2105. The U.S. Institute for Supply Management (ISM) said its index of national factory activity fell to 48.2 from 48.6 in November and is now at its lowest level since June 2009. A reading above…

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U.S. manufacturing activity slumps, construction spending falls

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