Fri08262016

LAST_UPDATEFri, 26 Aug 2016 8am

VW To Pay Over $10 Billion For US Emissions Scandal

WASHINGTON: Volkswagen AG will pay more than $10 billion to settle claims by nearly 500,000 owners stemming from its US diesel emissions cheating scandal and fund efforts to offset pollution, three sources briefed on the agreement said on Thursday.

Read more: VW To Pay Over $10 Billion For US Emissions Scandal

Pound Plummets After Early Results In EU Referendum

The value of sterling has swung wildly on currency markets as initial confidence among investors expecting a vote to remain in the EU was dented by early referendum results.

Read more: Pound Plummets After Early Results In EU Referendum

BSI Appeals Finma Decision On 1MDB-Linked Deals

ZURICH: BSI is appealing to a Swiss court against a decision by Switzerland’s financial watchdog Finma over its business relationships and transactions linked to 1Malaysia Development Bhd (1MDB), the Swiss bank said yesterday.

Read more: BSI Appeals Finma Decision On 1MDB-Linked Deals

Swiss Bank Challenges Sanction In Malaysia Graft Scandal

GENEVA: Switzerland’s BSI bank said Thursday that it has appealed a ruling ordering its dissolution over links to a corruption scandal engulfing Malaysia.

Read more: Swiss Bank Challenges Sanction In Malaysia Graft Scandal

Merrill Lynch To Pay $415 Million For Misusing Customer Cash: SEC

Pic: ReutersBank of America Corp's Merrill Lynch unit will pay $415 million and admit to wrongdoing to settle charges that it misused customer cash to generate profits and failed to safeguard their securities from creditors, the U.S. Securities and Exchange Commission said on Thursday.

Read more: Merrill Lynch To Pay $415 Million For Misusing Customer Cash: SEC

U.S. Jobless Claims Near 43-Year Low; New Home Sales Decline

Pic: ReutersWASHINGTON: The number of Americans filing for unemployment benefits fell last week to near a 43-year low, suggesting labor market resilience even though hiring slowed sharply in May.

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Dior To Appoint Valentino's Maria Chiuri As Creative Head - Sources

Pic: ReutersPARIS: Christian Dior is set to announce after its couture show in early July that Maria Grazia Chiuri is joining the French fashion house from Italy's Valentino, two people familiar with the matter said.

Read more: Dior To Appoint Valentino's Maria Chiuri As Creative Head - Sources

AirAsia Writes To Ministry To Position lcct2 As Region's Low-Cost Carrier Hub

Pic: BernamaKUALA LUMPUR: AirAsia Group has officially written to Transport Minister Datuk Seri Liow Tiong Lai and his ministry to seek consideration for its request to position LCCT2 as the region's low-cost carrier hub towards establishing Kuala Lumpur as the Dubai of the East.

Read more: AirAsia Writes To Ministry To Position lcct2 As Region's Low-Cost Carrier Hub

Toshiba's New CEO Sticks To Nuclear Target Branded Ambitious By Analysts

Pic: ReutersToshiba Corp's newly appointed chief executive said he would stick with the Japanese industrial conglomerate's target for nuclear power plant orders, dismissing scepticism among analysts who say the target is too ambitious.

Read more: Toshiba's New CEO Sticks To Nuclear Target Branded Ambitious By Analysts

Honda Malaysia Recalls 147,894 Vehicles

KUALA LUMPUR: Honda Malaysia today announced that it is extending its proactive measure to ensure customer safety by recalling 147,894 units of Honda vehicles to replace the front passenger airbag inflator.

Read more: Honda Malaysia Recalls 147,894 Vehicles