After Takata’s guilty plea, a federal judge in Detroit was hearing objections on Monday to the settlement raised by lawyers for some victims of Takata inflator ruptures, who argue the settlement will be used by automakers to avoid liability, a court clerk said. Takata hopes to wins court approval of the settlement, a key hurdle to securing the backing of an investor or acquirer that can fund a turnaround effort and help it grapple with billions of dollars in costs related to the auto industry’s biggest-ever recall.
Day: February 9, 2017
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Toshiba has received an offer as high as 400 billion yen for a 19.9 percent stake in its flash memory business, with other bids as low as 200 billion yen, a person directly involved in the deal told Reuters. The Japanese conglomerate was seeking to raise around 300 billion yen from the stake sale, said the source, who declined to be named because he is not authorized to speak to the media.
Oil Rises After Drop in U.S. Gasoline Stocks
Oil prices rose on Thursday, boosted by an unexpected draw in U.S. gasoline inventories, although bloated crude supplies meant that fuel markets remain under pressure. Brent crude futures, the international benchmark for oil prices, were trading at $55.41 per barrel at 0515 GMT, up 29 cents, or 0.5 percent, from their last close.
Asian Shares at 18-Month Highs as China Rises
Asian shares climbed to their highest in more than 18 months on Thursday, as investors grew more confident about China while the dollar slightly firmed in the wake of growing concerns over political instability in Europe. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4 percent to their highest since July 2015 with Hong Kong, Taiwan and China among the region’s best performing markets.
Trump vs Nordstrom: The latest bout raising ethical concerns
In this May 13, 2016 file photo, the Nordstrom logo is displayed above the post where it trades on the floor of the New York Stock Exchange in New York. Nordstrom shares sunk after President Trump tweeted that the department store chain had … treated his daughter Ivanka “so unfairly” when it announced last week that it would stop selling Ivanka Trump’s clothing and accessory line.
Canada warns Trump administration over talk of US tariffs
Canada’s foreign minister has warned the Trump administration that Canada will retaliate if the U.S. applies new tariffs. Foreign Affairs Minister Chrystia Freeland said Wednesday from Washington that her government strongly opposes any new possible tariffs and would respond.
7 months in, expanded Panama Canal still faces challenges
In this Jan. 16, 2017 photo, a heron rests on a lock gate near protective bumpers, top left, torn by passing ships in the Cocoli Locks of the Panama Canal, Panama. According to the Panama Canal authority, between June and January there were 15 … incidents that resulted in damage to the locks or ships, or about 2 percent of the 700 total transits.
U.S. Health Insurance Mergers Killed as Companies Plot Next Move
After 18 months of courtship and court cases, two massive deals that would have reshaped the U.S. health insurance industry have both been declared dead, blocked by judges who said they’d do unacceptable harm to competition in the industry. Now, the companies are right back where they started.
Berlin Festival Tightens Security After Christmas Attack
“We have no intel on a planned attack during the festival, but we will be on high alert,” says a Berlin police spokesman. Berlin prides itself on being the casual alternative to Cannes, but in the wake of the Christmas market attack in the German capital in December, the festival has tightened security.
Facebook vs. Apple: Whose Reality Will Win?
One of the most promising trends on the horizon that has arguably the most transformative potential is virtual/augmented reality . How these technologies emerge and subsequently affect our lives remains to be seen, but companies are already placing their bets accordingly.