Business & Finance News
SEOUL (Reuters) – General Motors will stay in South Korea for at least 10 years and set up its Asia-Pacific headquarters in the country, government officials said on Thursday, revealing terms of a deal aimed at rescuing the U.S. automaker’s struggling GM Korea unit.
WASHINGTON/BOSTON/LONDON (Reuters) – Royal Bank of Scotland has agreed to pay a smaller-than-expected $4.9 billion to resolve a U.S. investigation into its sale of mortgage-backed securities, paving the way for a long-awaited return of cash to UK taxpayers who bankrolled its post-crisis survival.
LONDON (Reuters) – BT is cutting 13,000 managerial and back-office jobs and leaving its London headquarters in the latest attempt by Britain’s biggest telecoms group to rebuild after an accounting scandal and downturn in trading.
LONDON (Reuters) – BT is cutting 13,000 managerial and back-office jobs and plugging its pension black hole, while placating shareholders by maintaining its dividend, in the latest restructuring by Britain’s biggest telecoms group.
The president of Pacific Coast Producers (PCP) plans to use around 700 million tin-coated steel cans this year for tomatoes, peaches and pears from 168 growers here in California.
SEOUL (Reuters) – South Korea’s biggest conglomerate, Samsung Group [SAGR.UL], came for fresh criticism about its ownership structure on Thursday, with the country’s antitrust chief saying it was unsustainable.
TOKYO (Reuters) – Asian stocks rose on Thursday, with energy shares leading the way as crude oil prices bolted higher after U.S. President Donald Trump’s decision to pull out of a nuclear deal with Iran.
The president of Pacific Coast Producers (PCP) plans to use around 700 million tin-coated steel cans this year for tomatoes, peaches and pears from 168 growers here in California.
NEW YORK (Reuters) – U.S. East Coast refiners are shipping more shale oil from the Gulf Coast thanks to heavy discounts for West Texas crude and are also looking to bring more via rail, but supply bottlenecks are making it difficult to secure more barrels.
(Reuters) – The former chairman of China’s Anbang Insurance Group Co Ltd has been found guilty of fraud and embezzlement and sentenced to 18 years in prison, three months after the state seized control of an insurer famed for buying New York’s Waldorf Astoria hotel.
SEOUL (Reuters) – General Motors has agreed to set up its Asia-Pacific headquarters in South Korea, in a further commitment by the U.S. automaker to its loss-making local unit, the government said on Thursday.
SEOUL (Reuters) – South Korea’s antitrust chief said on Thursday that South Korea’s No. 1 conglomerate Samsung Group’s [SAGR.UL] current ownership structure is not sustainable.
(Reuters) – A Chinese court has sentenced Wu Xiaohui, former chairman of Anbang Insurance Group Co Ltd [ANBANG.UL], to 18 years in prison, China’s state media Xinhua news agency said on Thursday.
SYDNEY (Reuters) – Top Australian wealth manager AMP Ltd told angry shareholders on Thursday it understood their concerns and expected some to vote against its remuneration plans after a public inquiry revealed serious board-level misconduct.
BOSTON/WASHINGTON (Reuters) – Royal Bank of Scotland Group Plc said on Wednesday it had agreed to pay $4.9 billion to resolve a U.S. Department of Justice probe into its structuring and sale of mortgage-backed securities ahead of the 2008 financial crisis.
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