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Europe’s biggest tyremaker aims to protect its earnings
ZURICH: Credit Suisse Group AG posted a fourth-quarter loss of 2.35 billion francs (US$2.34bil) after taking a charge to settle a US investigation into the role of its mortgage securities business in the 2008 financial crisis. The bank pledged to cut between 5,500 and 6,500 jobs this year.
LONDON: Rolls-Royce Holdings Plc’s annual earnings fell less than expected as Europe’s biggest aircraft-engine maker deepened cost cuts and a late production surge at Airbus Group SE boosted revenue.
NEW YORK: Major U.S. stock indexes established record highs on Tuesday, led by bank stocks after Federal Reserve Chair Janet Yellen said it would be unwise to wait too long to raise interest rates.
NEW YORK: Oil prices pared gains after the settlement Tuesday, as evidence of surging U.S. crude oil stockpiles underscored concerns that shale production might limit the effectiveness of an OPEC-led effort to cut global output.
BANGKOK (Reuters) - From requiring constitutional changes to pushing for unity in the divided country and reshaping the royal household, Thailand's new king is putting an assertive stamp on his rule.
TOKYO: Toshiba Corp. says it expects to book a 712.5 billion yen ($6.3 billion) writedown in its nuclear power business, citing cost overruns at a U.S. unit and diminishing prospects for its atomic-energy operations. Shigenori Shiga will step down as chairman of the conglomerate.
SINGAPORE: Oversea-Chinese Banking Corp, Singapore's second-biggest lender, flagged worries about a weak oil and gas sector after reporting an 18% drop in quarterly profit to a three-year low, mainly due to a jump in impairment charges.
WASHINGTON (Reuters) - President Donald Trump said on Monday the United States would be "tweaking" its trade relationship with Canada, stopping short of calling for a major realignment in a development likely to please visiting Canadian Prime Minister Justin Trudeau.
Verizon Communications Inc's announcement that it will once again offer an unlimited pricing plan marks a shift in its thinking as a price war among the four biggest US wireless carriers accelerates.