Category: World News

VW Managers Safe From Extradition, as Long as They Stay Home

Five German Volkswagen AG executives facing U.S. charges linked to the diesel-emissions scandal may be able to avoid jail, but they may never be able to travel beyond the Black Forest again. While Germany doesn’t extradite its citizens to countries outside the European Union, the U.S. can seek an international arrest warrant that would be executed if any of the men left the country.

U.A.E. Says $50 Oil – Isn’t Going to Cut It’ for Producers

Crude oil at $50 a barrel is too low for most producing countries, according to United Arab Emirates Energy Minister Suhail Al Mazrouei. Prices have climbed almost 20 percent to above $50 a barrel since the Nov. 30 agreement by the Organization of Petroleum Exporting Countries to cut production for the first time in eight years to curb a global glut.

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In this Tuesday, Dec. 20, 2016 file photo, a general view with an advertising billboard is seen at the Trump International Golf Club main entrance in Dubai, United Arab Emirates. Dubai’s DAMAC Properties tells The Associated Press it offered … deals to U.S. President-elect Donald Trump’s firm worth some $2 billion, but the Trump Organization turned them down.

U.A.E. Says $50 Oil – Isn’t Going to Cut It’ for Most Producers

Crude oil at $50 a barrel is too low for most producing countries, according to United Arab Emirates Energy Minister Suhail Al Mazrouei. Prices have climbed more than 15 percent to above $50 a barrel since the Nov. 30 agreement by the Organization of Petroleum Exporting Countries to cut production for the first time in eight years to curb a global glut.

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Samsung boss questioned in South Korea corruption probe

Samsung chief Lee Jae-yong is being questioned at the prosecutor’s office in Seoul as a suspect in South Korea’s biggest political corruption scandal. The firm is accused of giving donations to several non-profit foundations operated by Choi Soon-sil, a confidante of President Park Geun-hye.

Saudis Said to Cut Oil to China, South Asia as Others Spared

Saudi Arabia was said to cut February crude sales to China and southern Asian nations while largely sparing countries including Japan and South Korea, as it curbs supply as part of a deal between OPEC and other producers. Two Southeast Asian refiners received cuts of about 30 percent from the world’s biggest crude exporter, according to two people with knowledge of the matter who asked not to be identified because the information is confidential.

Oil Prices Rise Despite Larger-Than-Expected Build in U.S. Crude Inventories

Domestic crude stockpiles increased by 4.1 million barrels less than two weeks after OPEC initiated production cuts to rebalance the global oil market. U.S. oil is back with a vengeance to start off 2017, but oil prices were rising even though U.S. crude stockpiles increased for the first time since OPEC implemented production cuts with the intent to rebalance the global oil market.

Airbus Retains Order Lead Over Boeing With Late Sales Surge

Airbus Group SE booked 320 jetliner orders in December alone to rack up 731 sales for the year, extending its backlog and beating Boeing Co. In the last month of 2016 Airbus sold 98 new planes to Iran Air and 72 to Go Airlines India Pvt., while two other transactions saw 132 narrow-bodies purchased by buyers whose identities weren’t disclosed, according to figures released by the Toulouse, France-based company Wednesday.

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In this Wednesday, March 23, 2016 file image, Czech Republic’s Finance Minister Andrej Babis gestures prior an extraordinary session of Parliament’s lower house in Prague, Czech Republic. Czech lawmakers have overridden a veto by President … Milos Zeman, Wednesday, Jan. 11, 2017 to approve legislation that limits the business activities of future government ministers.

China’s Clean Air Bid Scares Rivals in Duel Over Dirty Fuel

The Asian country’s road to cleaner air has been gradual, with lead-free gasoline only becoming a requirement in 2000, almost three decades behind the U.S. This month, China imposed new curbs on the amount of sulfur in vehicle fuels to about a fifth of the previous standard, putting it on par with Europe, which has the world’s strictest emissions controls. While the change helps China battle the smog that’s choking residents from Beijing to Xian, many of its refiners still produce the dirtier fuel.

VW Closes in on $4.3 Billion U.S. Accord in Diesel Scandal

Volkswagen AG is closing in on a deal to pay $4.3 billion in criminal and civil penalties to settle a U.S. probe into the rigging of diesel-powered cars to cheat emissions tests. The agreement, which VW said Tuesday will include a guilty plea, raises the cost of the scandal to more than $23 billion in the U.S. and Canada, blowing by the 18.2 billion euros the carmaker had set aside to resolve the disputes.

VW Closes in on $4.3 Billion U.S. Accord in Diesel Scandal

Volkswagen AG is closing in on a deal to pay $4.3 billion in criminal and civil penalties to settle a U.S. probe into the rigging of diesel-powered cars to cheat emissions tests. The agreement, which VW said Tuesday will include a guilty plea, raises the cost of the scandal to more than $23 billion in the U.S. and Canada, blowing by the 18.2 billion euros the carmaker had set aside to resolve the disputes.

VW Closes in on $4.3 Billion U.S. Accord in Diesel Scandal

Volkswagen AG is closing in on a deal to pay $4.3 billion in criminal and civil penalties to settle a U.S. probe into the rigging of diesel-powered cars to cheat emissions tests. The agreement, which will include a guilty plea according to VW, raises the cost of the scandal to more than $23 billion in the U.S. and Canada, blowing by the 18.2 billion euros the carmaker had set aside to resolve the disputes.

VietJet Forecasts 30% Profit Rise Ahead of February Listing

VietJet Aviation Joint Stock Co., the Vietnam carrier known for its bikini-clad flight attendants, expects profit to surge 30 percent this year on rising passengers as it prepares for its Ho Chi Minh City Stock Exchange listing debut in February. A total of 23 overseas investors bought 66.5 million shares — equivalent to about 14 percent of VietJet — during a pre-listing stake sale last month, billionaire founder Nguyen Thi Phuong Thao said.

VW Managers Warned to Stay in Germany as U.S. Charges Near

Some of Volkswagen AG’s top executives may find it risky to leave Germany as U.S. prosecutors prepare to charge more company officials. Oliver Schmidt, a VW executive, was arrested in Miami as he was returning to Germany from vacation and faces charges of misleading regulators about the automaker’s diesel-emissions cheating devices.

Kuwait Says Saudi Arabia to U.A.E. Complying With Oil Cuts

Oil producers from Saudi Arabia to the United Arab Emirates are complying with production cuts promised last year to stabilize the market, Kuwait’s governor to the Organization of Petroleum Exporting Countries said. Qatar, Kuwait and Oman are also complying, having announced cuts to customers, Nawal Al-Fezaia, Kuwait’s OPEC governor, said in an interview Monday in Kuwait City where OPEC’s Secretary General Mohammad Barkindo is scheduled to have talks on the cuts with Kuwait Oil Minister Essam Al-Marzouk and other officials.

Czech Republic, Slovakia to cooperate on guarding air spaces

The Czech Republic has approved a plan for Czech and Slovak air forces to cooperate in protecting air spaces over the two neighboring countries that once formed Czechoslovakia. The Czech Defense Ministry says the protection both the Czech Republic and Slovakia already receive as NATO members is effective only for military threats.

Oil Slips on Concerns U.S. Production is Rising

Oil fell on Monday as signs of growing U.S. production outweighed optimism that many other producers, including Russia, were sticking to a deal to cut supplies in a bid to bolster the market. Brent crude futures were down 96 cents at $56.14 a barrel at 1128 GMT.

Italy to Meet Alitalia Executives as 1,600 Job Cuts Said to Loom

As the new Italian government of Paolo Gentiloni hammers away at a rescue plan for beleaguered lender Banca Monte dei Paschi di Siena SpA, it’s suddenly contending with another corporate crisis: the future of Alitalia SpA. Executives from key investor Ethiad Airways and Alitalia — which went bankrupt in 2008 after rescue attempts involving the state and private investors failed, and which teetered on the brink of collapse in 2014 — are set to meet Italian ministers on Monday, the carrier based in Abu Dhabi said in a statement Sunday.

Guangzhou Auto Seeks to Be First Chinese Carmaker to Crack U.S.

Guangzhou Automobile Group Co., which produces cars in China with Fiat Chrysler Automobiles NV, plans to start exporting its own brand of automobiles to the U.S next year and become the first Chinese carmaker to begin retail sales to American consumers. GAC, which created its Trumpchi brand in 2010 after being a production partner for foreign carmakers for more than a decade, will start a research and development center in Silicon Valley in the first half of this year to prepare for the company’s entry to the U.S., the company’s President Feng Xingya said.

‘It wasn’t random’: The FBI is offering $20,000 for…

A US consular official was shot while driving out of a parking garage in Guadalajara, Mexico, on Friday a little after 6 p.m. local time. Christopher Ashcraft, 31, a foreign-service officer on his first posting with the US State Department, was struck on the upper right side of his chest but is in stable condition, according to Mexican authorities.

Top Oil Stocks to Buy in 2017

Between OPEC’s recent plans to decrease output by up to 1.2 million barrels per day, another nearly half-million barrels that some non-OPEC oil countries are set to cut, and a million-barrel drop in North American daily production since the peak in 2015, oil prices look poised to surge at some point in the next year or so. After all, global oil and refined product stocks won’t last forever, and while oil output has steadily fallen, consumption has increased.

EasyJet Slips Off Pace Set by Ryanair on Terror, Brexit Squeeze

EasyJet Plc’s passenger count increased at less than half the pace of its low-cost rivals last year as Europe’s second-biggest discount carrier struggled with its exposure to the British and French travel markets. Customer numbers increased 6.6 percent to 74.4 million in 2016, Luton, England-based EasyJet said Friday.