Posts From King World News

French police search VW offices in emissions probe

French police have carried out searches at Volkswagen (VOWG_p.DE) offices in France, the Paris Prosecutor’s office said on Sunday, as part of an investigation following revelations the carmaker rigged vehicle diesel emissions tests. Police searched on Friday Volkswagen’s main French office in Villers-Cotterets northeast of Paris and another VW office at Roissy near Paris’ main airport, seizing computer material, an official at the Prosecutor’s office said.

Alibaba lobbies to stay off U.S. blacklist list for fakes

Chinese e-commerce giant Alibaba Group Holding Ltd is lobbying hard to stay off the U.S. Trade Representative’s blacklist after coming under renewed pressure this year over suspected counterfeits sold on its shopping platforms. Re-inclusion on the USTR’s annual list of the world’s most “notorious markets” for sales of pirated and counterfeit goods, while not carrying direct penalties, would be a blow to the company’s efforts to shed perceptions that its

U.S. consumer sentiment rebounds; industrial output weak

U.S. consumer sentiment rebounded strongly in early October, suggesting that the economic recovery remained on track despite headwinds from a strong dollar and weak global demand that have weighed on the industrial sector, particularly manufacturing. The snapback in sentiment reported on Friday underscored robust domestic demand and offered hope that consumer spending would remain solid enough to support economic growth, which has slowed significantly in recent months. The University of

Credit Suisse's Thiam set to show hand as CEO

ZURICH/LONDON (Reuters) – When Tidjane Thiam unveils his plans for Credit Suisse on Wednesday the Swiss bank’s new chief executive will likely rest his case on three Cs: capital, cuts and charm. Thiam will show his hand after taking the reins at Zurich-based Credit Suisse in July from British insurer Prudential. Investors expect him to refocus the bank’s business toward wealth management and asset management, while shrinking its investment bank

China must hasten infrastructure investment to stabilize growth: state advisor

Increased infrastructure investment is key to stabilizing China’s economic growth, a top state advisor said on Sunday, while calling on the central bank to lower the cost of financing for companies and increase overall credit. “Keeping relatively high growth of infrastructure investment is key to stabilizing economic growth” since property and manufacturing investment remains weak, said Yu Bin, head of the micro economy research department at the State Council’s Development