UK lawmakers want review into RBS-Lloyds "bad bank"
LONDON | Sun Apr 21, 2013 11:19am EDT LONDON (Reuters) – Britain’s finance ministry should examine the advantages and disadvantages of breaking up state-backed lenders RBS (RBS.L) and Lloyds (LLOY.L) and hiving off their toxic assets into a “bad bank,” senior lawmakers have demanded. The cross-party Treasury Select Committee, responsible for examining the finance ministry’s [...]
Greece may get bailout cash advance to pay bills: reports
ATHENS | Sat Apr 20, 2013 10:26am EDT ATHENS (Reuters) – Greece might receive 3.2 billion euros of earmarked rescue aid earlier than planned to cover part of its financing needs, two Greek newspapers reported on Saturday. Greece received a clean bill of health from its international creditors earlier this month, securing a disbursement of [...]
Shut down for manhunt, Boston business takes a hit
By Hilary Russ and Tiziana Barghini Sat Apr 20, 2013 10:27am EDT (Reuters) – As Boston shut down during a day-long manhunt for a suspect in the marathon bombing that culminated on Friday, another cost was added to the human and emotional toll: lost business. From the postponed baseball game at the Red Sox’ beloved [...]
Austrians say end bank secrecy for foreigners: polls
VIENNA | Sat Apr 20, 2013 10:39am EDT VIENNA (Reuters) – Most Austrians are in favor of relaxing the strict banking secrecy rules that have isolated the Alpine republic from its European peers, according to two polls published on Saturday. Only 18 percent want to keep banking secrecy in its current form, a Gallup poll [...]
GM to add four more plants in China by 2015: executive
SHANGHAI | Sat Apr 20, 2013 11:20am EDT SHANGHAI (Reuters) – General Motors Co (GM.N) will add four new plants in the next three years in China to bring its production capacity to 5 million vehicles a year, the head of GM China said on Saturday at the Shanghai auto show. Bob Socia, head of [...]
FAA approves Boeing Dreamliner battery system design
By Alwyn Scott and Andrea Shalal-Esa Sat Apr 20, 2013 12:56pm EDT (Reuters) – U.S. regulators approved on Friday a revamped battery system for Boeing Co’s 787 Dreamliner, a crucial step in returning the high-tech jet to service after it was grounded in January because its lithium-ion batteries overheated. The Federal Aviation Administration (FAA) approval [...]
Most EU bank union work can be done without law change: Eurogroup head
By Jan Strupczewski WASHINGTON | Sat Apr 20, 2013 3:06pm EDT WASHINGTON (Reuters) – The euro zone’s top project to boost economic growth – banking union – will not be delayed for now by a row over whether it needs EU law changed because most of the work can be done before this is settled, [...]
GM’s Opel returns to Shanghai auto show with limited ambitions
By Christiaan Hetzner FRANKFURT | Sat Apr 20, 2013 3:13pm EDT FRANKFURT (Reuters) – General Motors’ (GM.N) troubled Opel division is returning to China’s main auto show after a five-year absence, with three new cars at the center of a long-promised push into the world’s largest market. In Germany, where Opel employs around 20,000 workers, [...]
Lufthansa cancels 1700 flights due to Monday’s union strike
FRANKFURT | Sat Apr 20, 2013 3:17pm EDT FRANKFURT (Reuters) – Germany’s largest airline Lufthansa (LHAG.DE) said it was cancelling almost 1700 flights on Monday, mostly on domestic and short-haul European routes, as a result of planned strike action by thousands of workers calling for higher pay. Verdi, representing 33,000 staff at the airline, announced [...]
Audi will push top-end cars in effort to catch BMW
By Andreas Cremer SHANGHAI | Sun Apr 21, 2013 7:56am EDT SHANGHAI (Reuters) – Audi (VOWG_p.DE) will speed up launches of high-performance cars such as the 107,900-euro ($141,100) RS6 Avant estate to boost profit as the German brand tries to narrow the gap with luxury-market leader BMW (BMWG.DE). Audi, which lags BMW and German rival [...]