5 March, 2015 by The TZ Newswire Staff Comments Off on Uber says to suspend low-cost ride service in Seoul
Uber says to suspend low-cost ride service in Seoul
Online taxi service provider Uber Technologies Inc said on Friday it would suspend its low-cost uberX ride service in South Korea, another attempt to avoid a complete ban. The U.S.-based firm said the …
5 March, 2015 by The TZ Newswire Staff Comments Off on NHTSA could tap unexercised authority to speed Takata recalls
NHTSA could tap unexercised authority to speed Takata recalls
U.S. auto safety regulators are considering unprecedented steps to speed up the replacement of potentially deadly Takata Corp (7312.T) air bags in millions of cars that remain on American roads despite massive recalls initiated by automakers. In a letter dated March 3, National Highway Traffic Safety Administration chief Mark Rosekind told Senator Bill Nelson that regulators had the authority to increase supply of replacement parts by requiring more manufacturers to produce them.
5 March, 2015 by The TZ Newswire Staff Comments Off on Exclusive: Commerzbank nears $1.4 billion-plus settlement with U.S. – sources
Exclusive: Commerzbank nears $1.4 billion-plus settlement with U.S. – sources
Commerzbank AG (CBKG.DE) is nearing an agreement to pay U.S. authorities more than $1.4 billion to settle allegations it violated U.S. sanctions and a separate investigation that stemmed from the Olympus Corp (7733.T) accounting scandal, according to two people close to the case. Margarita Thiel, a spokeswoman for Commerzbank, Germany’s second-largest lender, declined to comment. The other agencies include the U.S. Department of Treasury, the Federal Reserve, the Manhattan District Attorney’s office, the U.S. Attorneys in Washington, D.C.
5 March, 2015 by The TZ Newswire Staff Comments Off on BofA’s $8.5 billion mortgage bond settlement wins approval
BofA’s $8.5 billion mortgage bond settlement wins approval
A New York state appeals court on Thursday approved Bank of America Corp’s $8.5 billion settlement with mortgage securities investors in its entirety. Bank of America had agreed to the 2011 settlement with 22 institutional investors including BlackRock Inc, MetLife Inc and Allianz SE’s Pacific Investment Management Co to resolve claims over $174 billion of mortgage securities issued by the former Countrywide Financial Corp.
5 March, 2015 by The TZ Newswire Staff Comments Off on Futures Movers: Oil edges higher as ECB measures boost market sentiment
Futures Movers: Oil edges higher as ECB measures boost market sentiment
Crude-oil futures join the rest of a market moving higher after the European Central Bank raised its growth forecasts and said it would begin its bond buying program from Monday.
read more
5 March, 2015 by The TZ Newswire Staff Comments Off on Did the ECB quash the negative-yield trade?
Did the ECB quash the negative-yield trade?
Negative-yield bonds – or paying to lend money – have provided surprising profits, but the trade faces headwinds from Europe’s QE foray.
5 March, 2015 by The TZ Newswire Staff Comments Off on Amazon opens store on rival Alibaba’s site
Amazon opens store on rival Alibaba’s site
Amazon opened a store on Alibaba’s business-to-consumer platform Tmall in a move that analysts say will boost awareness of its brand in China.