News: Money

Danske Bank CEO quits in $234 billion money laundering scandal

Wednesday  13:06,   19 september 2018

By Jacob Gronholt-Pedersen and Teis Jensen"It is clear that Danske Bank has failed to live up to its responsibility in the case of possible money laundering in Estonia. I deeply regret this," Borgen said in a statement which detailed failings in...[...]

Tesla is 'headed for the graveyard,' predicts former GM exec Bob Lutz

Wednesday  12:05,   19 september 2018

Tesla CEO Elon Musk is a nice guy who doesn't know how to run a car company, says Bob Lutz, former vice chairman of General Motors."They will never make money on the Model 3 because the cost is way too high. He's got 9,000 people in that...[...]

BMW, Daimler and VW investigated over emissions collusion

Wednesday  06:05,   19 september 2018

BMW, Daimler and the Volkswagen group are being investigated over collusion on the development of car emission control systems. The EU Commission said on Tuesday that it had received information the German carmakers, along with VW's Audi and...[...]

Tesla Is Facing U.S. Criminal Probe Over Elon Musk Statements

Wednesday  06:05,   19 september 2018

Tesla Inc. is under investigation by the Justice Department over public statements made by the company and Chief Executive Officer Elon Musk, according to two people familiar with the matter. Federal prosecutors opened a fraud investigation...[...]

BMW to shut factory for a month after Brexit day

Wednesday  06:05,   19 september 2018

Car giant BMW will shut its main British manufacturing factory immediately after Brexit day next year for several weeks, because of the rising risk of a "no-deal" divorce, Sky News has learned. The famous Mini plant in Oxford will not produce cars...[...]

Drop in motor fuel prices expected to drag down UK inflation data

Wednesday  06:05,   19 september 2018

Economists are forecasting August inflation data to come in at 2.4%, down from 2.5% in July.Consensus estimates predict the Office for National Statistics (ONS) Consumer Prices Index (CPI) of inflation will have dropped to 2.4% for...[...]

UK-US deal could 'rewrite' global rules, think tank says

Wednesday  06:05,   19 september 2018

UK and US think tanks looking into the best form for a free-trade pact between the countries say that a new deal could potentially become the basis for bilateral agreements worldwide. Experts from 11 think tanks in both countries contributed to a...[...]

The greatest threat to Brexit is now the Brexiters themselves

Tuesday  15:50,   18 september 2018

Devoted remainers should offer up a nightly prayer for the health of these diehardsIt is time for the nation’s beleaguered remainers to give sincere and heartfelt thanks to Boris Johnson, Jacob Rees-Mogg and the other Tory hardliners trying to...[...]

Coca-Cola Is Eyeing the Cannabis Market

Tuesday  13:25,   18 september 2018

The world’s largest beverage company may be the next industry giant to jump into the cannabis drinks business. Coca-Cola Co. says it’s monitoring the nascent industry and is interested in drinks infused with CBD -- the non-psychoactive ingredient in [...]

Santander in talks to buy City broker Peel Hunt

Tuesday  11:50,   18 september 2018

Banco Santander, the giant Spanish lender, is in talks to buy the City stockbroker‎ Peel Hunt in a move that could kick-start a fresh round of consolidation in the sector. Sky News has learnt that Santander, which is the fifth-largest bank on the...[...]

Path is closing its private social network for good

Tuesday  06:25,   18 september 2018

Path, the Facebook rival and sticker pioneer that gained a million users a week at its peak, is officially dead. Download the all-new Microsoft News app to receive up-to-the minute news from the world’s best sources – available now on iOS and...[...]

Time Magazine sold to tech billionaire Marc Benioff

Tuesday  06:05,   18 september 2018

Salesforce.com owner Marc Benioff and his wife, Lynne, are buying the magazine for $190 million from Meredith Corp. The sale comes months after Des Moines, Iowa-based Meredith, owner of Family Circle and Better Homes & Gardens, purchased Time...[...]

Hornby shares surge 27% on Warner Bros deal

Monday  19:11,   17 september 2018

The toy company said the new products would feature franchises including Harry Potter.The agreement will see Hornby release a range of model railway, slot car sets and die-cast vehicles featuring Warner Bros and DC franchises including Harry Potter...[...]

Amazon Reportedly Investigating Whether Some of Its Staff Are Taking Kickbacks From Merchants

Monday  18:24,   17 september 2018

Amazon is reportedly investigating whether independent merchants operating on their platform are greasing the palms of staff to divulge confidential information about the site, the Wall Street Journal reported on Sunday. According to the report,...[...]

Is IMF's Brexit verdict music to Hammond's ears?

Monday  17:25,   17 september 2018

As I left the press conference today where Christine Lagarde had just warned of the economic consequences of a "no deal" Brexit, a fellow journalist sidled up to me and muttered: "Hammond could hardly have scripted that better." Your...[...]