Volkswagen, Bosch oppose request for diesel documents

German automaker Volkswagen AG (VOWG_p.DE) and auto supplier Robert Bosch GmbH [ROBG.UL] have asked a U.S. federal judge to reject requests from European investors and vehicle owners to access more than 20 million pages of records turned over in VW’s “Dieselgate” scandal. VW, which admitted in 2015 to programming its diesel engines to deceive U.S. emissions testers, faces… Read More »

Pfizer decides against split-up; more deals seen likely

Pfizer Inc (PFE.N), which was considering splitting itself for more than two years, said on Monday it would not do so, prompting shareholders to expect more deals that could bolster its roster of new medicines. The largest U.S. drugmaker said its lengthy analysis determined that splitting off its low-growth generics from its patent-protected branded products would not boost… Read More »

Donald Trump presidency fears wipe £22bn off FTSE 100

More than £22 billion was wiped off the FTSE 100 on Monday morning as the index was dragged down by supermarket stocks and renewed fears of a Trump presidency ahead of the first US presidential debate. The UK’s premier market fell more than 83 points or 1.2 per cent to around 6826, with only a handful of stocks in positive territory.… Read More »

Brexit boost for superyacht industry as sales rise above sinking pound

Britain’s superyacht industry is weathering the Brexit storm with the sector reporting its highest level of confidence in the wake of the EU referendum – although choppier waters could be on the horizon. Fresh figures released by British Marine and Superyacht UK on Monday show that revenue rose 11.5 per cent to £605m in 2015/2016, marking the industry’s fourth consecutive year of… Read More »

The economics of a £10 an hour living wage

John McDonnell promised he would reveal a new “interventionist” underpinning to Labour’s economic policy. And the shadow chancellor did not disappoint. New rules on takeovers to guarantee pay and pension payments, a doubling in size of the co-operative sector by giving workers rights to own businesses at the point of change of ownership or closure, bringing back “sectoral”… Read More »

Monarch airlines says flights operating as normal

Budget airline Monarch says its flights are operating as normal following “negative speculation” about the firm’s financial health over the weekend. Monarch said it was “trading well” despite a difficult period for the industry because of terrorist incidents, Brexit and the weak pound. It added that a significant investment would be announced in the coming days. Over the… Read More »

Opec plans fresh oil price talks says energy minister

Oil producers in the Opec group of countries will make another attempt this week to reverse a slump in crude prices, according to Algeria’s energy minister. Noureddine Bouterfa said there would be an informal gathering of Opec members on the sidelines of an energy conference in Algiers on Wednesday. “We will not come out of the meeting empty-handed,”… Read More »

Samsung delays restarting sales of its Galaxy Note 7 in S Korea

Samsung has said it will delay restarting the sale of its Galaxy Note 7 phone in South Korea, as the firm needs more time for the global recall of the device. The South Korean tech giant was forced to recall some 2.5 million devicesglobally due to overheating batteries. Dozens of devices were reported to have caught fire. The… Read More »

China slowdown is global economy’s biggest threat, Rogoff says

The former chief economist of the International Monetary Fund has told the BBC a slowdown in China is the greatest threat to the global economy. Ken Rogoff said a calamitous “hard landing” for one of the main engines of global growth could not be ruled out. “China is going through a big political revolution,” he said. “And I… Read More »

German economy expecting golden autumn, says Ifo head

German business confidence has rebounded to a two-year high in September, according to the closely-watched Ifo survey. The index, which measures the morale of some 7,000 firms, rose to 109.5, from an upwardly-revised 106.3 in August. “The German economy is expecting a golden autumn,” said Ifo head Clemens Fuest. In August, confidence plunged sharply in the wake of… Read More »