Canada’s notoriously oligopolistic big banks have long dominated the financial industry largely thanks to one simple fact: There’s just six of them. But they could soon become seven if a one sleepy Crown corp has its way.
MUMBAI: Procter & Gamble's efforts to push its margins wider by getting rid of products that it doesn't consider strategic anymore are still weighing on sales, with its performance in India a telling example. But the maker of Gillette shaving products and Pampers diapers is confident that the short-term pain will give way to long-term gains. In India, the world's largest consumer products maker posted high-single-digit sales growth in the January-March quarter in segments that are strategically important for it, the company said.
FRANKFURT: Volkswagen on Tuesday revealed a plan to refit millions of vehicles affected by a worldwide pollution-cheating scam, as its new chief vowed to act ruthlessly to overcome the "severest test" in the car giant's history. The German government has given VW until October 7 to explain how it will resolve the scandal, which has wiped 29 billion euros ($33 billion), or 38 percent, off VW's market value in 10 days. Chief executive Matthias Mueller, who took the Volkswagen steering wheel on Friday, told senior management that technical solutions would be submitted in October.
Automaker Mitsubishi recently admitted to fudging fuel mileage data for more than 600,000 vehicles sold in Japan, leading to an ongoing probe by U.S. regulators. Those investigators may now have a lot more paperwork to sift through, after Mitsubishi’s latest revelation.
SHANGHAI — General Motors Co’s China joint venture will recall close to 1.5 million vehicles due to potential safety issues in one of the biggest recalls in the world’s biggest autos market.
Shanghai General Motors Co Ltd, GM’s venture with SAIC Motor Corp, will recall about 1.46 million Buick and Chevrolet models produced locally due to issues with a bracket that secures the fuel pump, the country’s quality watchdog said on Friday.
Some of the recalled vehicles include the Chevy Sail which is exported to emerging markets, a Shanghai-based GM official said.
SHANGHAI (Reuters) - General Motors Co <GM.N> and its China joint venture partner will recall close to 1.5 million vehicles due to potential safety issues in one of the biggest recalls in the world's biggest autos market.