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Saturday, June 6, 2020

VW takes new $3 billion hit over diesel emissions scandal

BERLIN (Reuters) - Volkswagen (VOWG_p.DE) added provisions of around 2.5 billion euros ($3 billion) on Friday to the mounting total from its diesel emissions scandal, which has already cost the company around 20 billion euros. “The reason is an increase in provisions relating to the...

Britain’s Deliveroo raises $385 million for food fight

LONDON (Reuters) - British food delivery company Deliveroo has raised $385 million in private funding, it said on Sunday, as it prepares for expansion to help it compete with publicly traded rivals such as Delivery Hero and Just Eat. The funding values the business at...

GE nears sale of its industrial unit to ABB for $3 billion

By Aaron Kirchfeld, Ed Hammond, and Rick Clough American company could announce agreement by next week Swiss company said to pay $2.5 billion to $3 billion General Electric Co. is nearing an agreement to sell its industrial-solutions business to ABB Ltd. in a deal valued...

U.K. Subjects Murdoch’s Fox to Wider Probe Over Sky Takeover Bid

U.K. to refer $15.5 billion Sky bid to competition regulator CMA review pushes deal’s potential completion well into 2018 Facing fresh scrutiny of 21st Century Fox Inc.’s bid for Sky Plc., James Murdoch defended his handling of scandal-hit...

PSA may move production of electric vehicle components back in-house

FRANKFURT (Reuters) - French carmaker PSA (PEUP.PA) is considering moving the production of electric vehicle components back to within the company, a PSA director told Reuters on Tuesday. “We are having some thoughts regarding ‘make or buy’ concerning the electric chain of motors, we will...

China May Unveil Car Emissions Rules This Week, Association Says

Draft rules require companies to get minimum credit score China plans to end sales of vehicles powered by fossil fuels China will soon unveil a mandatory cap-and-trade credit program for electric cars, starting the countdown for carmakers to...

Brazil inflation hits new 18-year low, below all forecasts

Bruno Federowski SAO PAULO (Reuters) - Brazilian inflation hit a fresh 18-year low in August due to an abundant harvest, undershooting all estimates and giving plenty of room for the central bank to keep cutting interest rates. The IPCA consumer price index rose 2.46 percent in...

High-Yield Debt Sweet Spots Emerging From Russia to South Africa

PineBridge likes local emerging-market debt with high rates ETF focused on the category posted best month since Dec. Traders are gaining confidence in nations that pay the steepest local interest rates. Investor anxiety, as measured by one-month implied currency volatility, dropped to multi-month lows last...

Investor With 30% in Cash Says North Korea Selloff Will Come

By Livia Yap   Stock markets are headed for a big selloff, maybe not today, but soon. That’s the view of Nader Naeimi, who heads a dynamic investment fund at AMP Capital and helps manage about $110 billion. The Sydney-based investor has about 30 percent of his...

Six banks sign up to UBS-led digital cash initiative

Swiss rival Credit Suisse among those joining project to make settling payments faster and less risky By Clare Dickinson Six major global banks have joined a project led by UBS to create a form of digital cash to speed up payments and settlements in the...