TOKYO (Reuters) – Toshiba Corp said on Tuesday that Chief Executive Satoshi Ttsunakawa will resign, as the Japanese conglomerate faces increasing opposition to its controversial restructuring plans. Senior executive Taro Shimada, a former executive of Germany’s Siemens AG, will become the new head of the company. The appointments are effective Tuesday. (Reporting by Makiko Yamazaki;…
(Reuters) – The U.S. Federal Trade Commission is gearing up for a potential antitrust lawsuit challenging Amazon.com Inc’s $8.5 billion takeover of MGM Studios by exploring actions including hiring expert witnesses, the Information reported on Monday. The FTC will decide how to proceed within the next few weeks, according to the news website’s report citing…
By Wayne Cole SYDNEY (Reuters) – Australia’s trade performance last quarter was much less of a drag on the economy than first thought implying upside risk for growth, even as imports outstripped exports and hefty dividend payments flowed offshore. Data from the Australian Bureau of Statistics on Tuesday showed the current account surplus narrowed to…
By Kevin Buckland TOKYO (Reuters) – The rouble stabilised somewhat on Tuesday after its crash to an all-time low, while the safe-haven yen and Swiss franc were steady after their biggest rallies in almost seven weeks with traders focused squarely on the developing crisis in Ukraine. A modicum of calm returned to currency markets after…
SYDNEY (Reuters) – Australia’s financial crime watchdog filed a wide-ranging civil lawsuit against casino operator Crown Resorts Ltd on Tuesday, accusing it of failing to assess risks of money laundering and terrorism financing at its only two operational resorts. The Australian Transaction Reports and Analysis Centre (AUSTRAC) said the company started by billionaire James Packer…
By Anne Kauranen, Tim Hepher and Rajesh Kumar Singh HELSINKI/PARIS/CHICAGO (Reuters) -Airlines are bracing for potentially lengthy blockages of key east-west flight corridors after the European Union and Moscow issued tit-for-tat airspace bans and Washington did not rule out similar action in response to Russia’s invasion of Ukraine. Industry officials say the Biden administration would…
DETROIT (AP) — General Motors said Monday that Kyle Vogt will take over as CEO of its Cruise autonomous vehicle subsidiary, a company he helped found in 2013. A GM representative confirmed what Vogt posted on Twitter, that he had “once again” accepted the job as CEO of Cruise. He replaces Dan Ammann. The Detroit…
By Jonathan Stempel NEW YORK (Reuters) – Cartier sued Tiffany & Co on Monday, accusing its luxury rival of stealing trade secrets concerning its high-end jewelry from an employee it lured away in December. According to a complaint filed in a New York state court in Manhattan, Tiffany hired an underqualified junior manager away to…
By David Shepardson WASHINGTON (Reuters) -The Federal Aviation Administration (FAA) said on Monday it is expanding the use of independent safety expert groups when certifying commercial aircraft. The FAA said it is expanding use of Technical Advisory Boards (TAB) to help ensure it has a “consistent and thorough approach for all aircraft certification projects.” The…
By Susan Heavey and Alex Lawler WASHINGTON/LONDON (Reuters) -The United States and its allies are weighing a coordinated release of oil reserves amid soaring prices and tightening supplies after Russia invaded Ukraine, an OPEC+ source and a senior industry source told Reuters. Oil prices have hit their highest since 2014 following the invasion and after…
