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Key events in General Motors' ignition switch recall

General Motors was the subject of multiple government investigations and hundreds of civil lawsuits for taking more than a decade to recall 2.6 …

MORGAN STANLEY: 'Piketty is history'

The book caught the imagination of a lot of people with its simple and elegant message — that returns on capital exceed economic growth in the long run, entrenching inequality to an unproductive rentier class.<p>But according to a note from analysts at Morgan Stanley and London School of Economics …

Ukraine parliament approves debt restructuring deal | Reuters

KIEV (Reuters) - Ukraine’s parliament on Thursday approved three laws needed to pass a debt restructuring deal that the country’s international backers have described as essential for its financial stability.<p>The International Monetary Fund’s multi-billion-dollar bailout program hinges on Ukraine …

Microsoft to invest $75 million in computer science education

Microsoft plans to give $75 million to nonprofits that can spread computer science education throughout the world, CEO Satya Nadella said on …

Ex-broker pleads guilty in napkin-eating insider trading scheme | Reuters

(Reuters) - A former Morgan Stanley stockbroker pleaded guilty on Wednesday to insider trading, over a scheme in which an accomplice showed him stolen stock tips on napkins and Post-its in Grand Central Station and then ate the evidence.<p>Vladimir Eydelman, 43, admitted to securities fraud, tender …

Oracle revenue forecast disappoints as license sales continue falling | Reuters

(Reuters) - Oracle Corp’s (ORCL.N) sales fell more than expected in the first quarter, hurt by a strong dollar and a continued drop in licensed software sales and the company warned revenue could fall in the current quarter even on a constant currency basis.<p>The Oracle logo is seen on its campus in …

Fed decision day: Consumers get interest rate reprieve (this time)

The Federal Reserve has spoken, and rates aren't budging — this time. But despite Thursday's announcement, they have nowhere to go but up. It's just a question of when it'll happen.<p>So many consumers are asking themselves a much more fundamental question: Why do interest rates matter, and what would …

Company sells Indian based customer services operation to help reduce debt<p><b>Serco</b>, the <b>controversial outsourcing group</b>, has finally sold its troubled foreign business processing division at a £45m loss.<p>The move, part of a restructuring under chief executive Rupert Soames, will mean Serco concentrating …

Selling

China's top economic planner urges firms to borrow more cheaply offshore | Reuters

SHANGHAI (Reuters) - China’s top economic planner on Wednesday told Chinese firms with good credit to issue bonds in cheaper offshore markets to support domestic investment and major national projects.<p>The National Development and Reform Commission (NDRC) said on Wednesday the offshore borrowing …

ECB's Nowotny: Inflation rate is a 'big problem'

Very low inflation in the eurozone poses a serious problem for the European Central Bank, ECB Governing Council member Ewald Nowotny says, according …

Hewlett Packard to axe 30,000 jobs in restructuring

Hewlett-Packard (HP) is preparing to shed up to another 30,000 jobs as the Silicon Valley pioneer launches into a new era in the same cost-cutting mode that has marred much of its recent history.<p>The cuts announced on Tuesday will occur within the newly formed Hewlett Packard Enterprise, a bundle of …

The beginning of the end for British steelmaking

With the international price of steel plummeting in the space of just 12 months, and demand growing at a pedestrian pace, the flood of Chinese steel has had a dramatic effect on the UK<p>In January this year, David Cameron painted a rosy picture of British steelmaking. “Under this Government, steel …

Automotive Industry

FedEx just increased its shipping rates by 4.9% across the board

In an announcement on Tuesday night, the shipping giant said that effective January 4, 2016, it will increase shipping rates by an average of 4.9% across all of its products.<p>And since right now all markets can think about is the Federal Reserve and its dual goals of maximum employment and price …

Toys R Us plans to hire fewer holiday workers but give them more hours

Toys R Us said Tuesday that it plans to hire fewer holiday employees than it did last year but will give them significantly more hours in hopes of boosting sales as customers have a better experience.<p>The toy giant seemed to be a bit of an outlier as a report issued Tuesday by Chicago-based …

Hewlett Packard to cut up to 30,000 jobs from enterprise unit

SAN FRANCISCO — Hewlett Packard said Tuesday afternoon that 25,000 to 30,000 people will leave the enterprise division as part of a planned spinoff.<p>The cuts, meant to cut $2.7 billion in annual costs, represent about 10% of the company's total workforce of 302,000 employees.<p>Meg Whitman, H-P CEO, is …

IT

FDA orders Reynolds to stop sales of four cigarette brands | Reuters

WASHINGTON (Reuters) - Reynolds American Inc can no longer sell Camel Crush Bold or three other cigarette products in the United States because they may be more dangerous than similar older cigarettes, the Food and Drug Administration said on Tuesday.<p>The headquarters of Reynolds American is seen …

US Virgin Islands sues oil company over shuttered refinery

WASHINGTON (AP) — The U.S. Virgin Islands on Monday sued American oil company Hess Corp. for more than $1 billion, alleging that the firm abandoned a …

The French group is scheduled to open an Ibis hotel and a Novotel branch near Tehran’s international airport on 15 October<p>The French group AccorHotels announced on Monday it would become the first international hotel group to operate in Iran as the Islamic republic opens up to the west after the …

Middle East

2,000 jobs at risk as Redcar steel plant fights for survival

The Thai owners of the historic Redcar plant on Teesside failed to pay back several loans totalling around £80m to lenders in June<p>One of the UK’s biggest steel plants is locked in a desperate bid for survival following a series of missed debt repayments to its banks.<p>The Thai owners of the historic …

FCA recalling 27,520 Dodge Darts for safety issue

DETROIT (AP) — Fiat Chrysler is recalling 27,520 Dodge Darts worldwide because the small cars' transmissions can unexpectedly shift into neutral.<p>The …

Apple says sales for latest iPhones may surpass other models

Preorders for its latest iPhone have been so strong that Apple expects to surpass last year's record, when it sold 10 million phones during the first weekend.<p>Apple began taking preorders for the iPhone 6s and iPhone 6s Plus on Saturday.<p>The new models, which go on sale Sept. 25, have more memory and …

Credit Suisse to pay $80 million to settle dark pool allegations: Bloomberg | Reuters

(Reuters) - Credit Suisse Group AG CSGN.VX will pay more than $80 million to settle allegations that it did not disclose how it operated its dark pool private share trading exchange to clients, Bloomberg reported, citing a person familiar with the matter.<p>A Credit Suisse sign is seen on the exterior …

Tumbling cost of crude oil, supermarket price war and cheaper clothing offers timely boost to consumer spending<p>Sharp falls in petrol and diesel pulled UK inflation back down to zero last month as tumbling crude oil prices trickled down to households.<p>Official figures showed inflation on the consumer …

Economics

Salesforce talks up sales intelligence, small business offensive

A common criticism leveled against customer relationship management systems is that they force sales representatives to spend far too much of their …