DETROIT (AP) — Federal investigators say Goodyear knew that some of its recreational vehicle tires could fail and cause severe crashes, yet it didn’t recall them for as many as 20 years. Goodyear wouldn’t recall the tires even as late as March of this year, despite investigators finding that their failure caused crashes that killed…
By Samuel Indyk LONDON (Reuters) – The U.S. dollar rose to a two-week high as rising U.S. Treasury yields supported the greenback, pushing the Japanese yen to its lowest level against the dollar in two decades. The yen dropped to a 20-year low of 133 per dollar, levels that had previously been highlighted as intervention…
By Pushkala Aripaka and Yadarisa Shabong (Reuters) -Ted Baker shares tumbled by more than 20% on Tuesday after the company said its first-choice suitor had decided not to make an offer, forcing the British fashion chain to consider other options. The preferred bidder – reported to be Juicy Couture and Forever 21 owner Authentic Brands…
BARCELONA, Spain (AP) — A Spanish judge will travel to Israel to seek testimony from the head of tech company NSO, the maker of the controversial Pegasus spyware used in tapping politicians’ phones in Spain, the country’s National Court said Tuesday. The court said that José Luis Calama has decided to lead a judicial commission…
NEW YORK (AP) — Target is canceling orders from suppliers, particularly for home goods and clothing, and it’s slashing prices further to clear out amassed inventory ahead of the critical fall and holiday shopping seasons. The actions, announced Tuesday, come after a pronounced spending shift by Americans, from investments in their homes to money spent…
Shares of Kohl’s spiked more than 11% Tuesday after the retailer said that it is in advanced talks to be sold in a deal worth about $8 billion. The Wisconsin chain said late Monday that it was in a three-week exclusive takeover period with the owner of Vitamin Shoppe for $60 per share. The potential…
(Corrects to say in the fourth last paragraph uncertainty related to China’s economic situation will continue in the short term) By Scott Murdoch and Selena Li HONG KONG (Reuters) -Citigroup Inc plans to hire around 3,000 new staff for its Asia institutional business in the next few years, sharpening its focus in a fast-growing region…
KYIV, Ukraine (AP) — Russia claimed Tuesday it has occupied large swaths of eastern Ukraine after a relentless, weekslong barrage and the recent deployment of more troops. Russian Defense Minister Sergei Shoigu said Moscow’s forces have control of 97% of the Luhansk region. Russia has declared that taking full control of the entire Donbas, which…
By Selena Li HONG KONG (Reuters) – Credit Suisse has appointed Min Huang to lead its asset management business in the Asia Pacific, an internal memo reviewed by Reuters showed on Tuesday. The appointment comes seven months after Huang was named the bank’s interim head for APAC asset management in November. Huang, who joined the…
By Anna Ringstrom and Stine Jacobsen STOCKHOLM (Reuters) -The Swedish government will not inject new capital into SAS, its industry minister said on Tuesday, dealing a blow to the loss-making airline’s restructuring efforts and sending its shares down 14% to all-time lows. SAS said last week a restructuring plan announced in Feburary depended on it…
