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Euro working group to meet Wednesday, deal still sought: Greek official

Euro zone deputy finance ministers will meet midweek ahead of a Eurogroup finance ministers’ gathering two days later, a Greek government official told Reuters, as Athens and its creditors continue to seek a deal on reforms to unlock aid. “The two sides agreed that there will be a Euro Working Group meeting on Wednesday,” the official close to the talks said, declining to be named. Deputy ministers of the so-called

Toyota to launch two hybrid cars in China this year

Toyota Motor Corp , the world’s largest automaker by sales volume, plans to launch two hybrid cars in China this year as part of efforts to launch vehicles that will help to reduce pollution in the country. The gasoline-electric hybrid cars, called Levin Hev and Corolla, will be launched in China in the second half of the year, the Japanese company said on Sunday on the eve of the Shanghai

Comcast, Time Warner Cable to meet DoJ officials over merger: WSJ

The meeting next Wednesday would aim to negotiate possible concessions addressing those concerns, the Journal said, citing people familiar with the matter. Staffers at both the Justice Department and the Federal Communications Commission remain concerned the combined company would have too much power in the Internet broadband market and would have unfair competitive leverage against TV channel owners and businesses offering online video programming, the Journal said. Representatives of the

Chairman Piech's grip on Volkswagen weakened by row with CEO

BERLIN/HAMBURG (Reuters) – Volkswagen (VOWG_p.DE) Chairman Ferdinand Piech’s iron grip on the German carmaker has been severely weakened following a dramatic confrontation with senior board members last week that nearly resulted in a push to oust him, sources told Reuters. Piech, patriarch of the family that founded Volkswagen and a dominant figure at the automaker for more than two decades, triggered a leadership crisis at the Wolfsburg-based firm by criticizing

Oil slide slashes first-quarter profit, not investment plans at Saudi's SABIC

Saudi Basic Industries Corp faces heavy pressure on its profits due to cheap oil but will keep investing globally to boost capacity in key areas, its acting chief executive said on Sunday after the company reported a 39 plunge in first-quarter profit. SABIC , one of the world’s largest petrochemicals groups and Saudi Arabia’s biggest listed firm, said net profit sank to 3.93 billion riyals ($1.05 billion) in the three