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Kraft Heinz forecasts gloomy 2019, writes down value of iconic brands

18 hours ago DieselGasoil Comments Off on Kraft Heinz forecasts gloomy 2019, writes down value of iconic brands
(Reuters) – Shares of Kraft Heinz Co slumped 20 percent on Thursday after the food company posted a quarterly loss, disclosed an SEC investigation and wrote down the value of its Kraft and Oscar Mayer brands as it highlighted the tough environment for the packaged food industry. FILE PHOTO – Bottles of Heinz tomato ketchup Read More

Ford probing possible problems with fuel economy, emissions tests

22 hours ago DieselGasoil Comments Off on Ford probing possible problems with fuel economy, emissions tests
DETROIT (Reuters) – Ford Motor Co said on Thursday it has hired outside experts to investigate its vehicle fuel economy and testing procedures after employees raised concerns, and did not know whether it would have to correct data provided to regulators or consumers. The logo of Ford is seen during the 88th International Motor Show Read More

Ford investigating possible problems with fuel economy, emissions tests

23 hours ago DieselGasoil Comments Off on Ford investigating possible problems with fuel economy, emissions tests
DETROIT (Reuters) – Ford Motor Co said on Thursday it had hired outside experts to investigate its vehicle fuel economy and testing procedures after employees raised concerns, and did not know whether it would have to correct data given to regulators or consumers. The logo of Ford is seen during the 88th International Motor Show Read More

Hedge fund Third Point praises Nestle chief in letter to investors

23 hours ago DieselGasoil Comments Off on Hedge fund Third Point praises Nestle chief in letter to investors
FILE PHOTO: Nestle Chief Executive Mark Schneider attends the opening of the 151st Annual General Meeting of Nestle in Lausanne, Switzerland April 12, 2018. REUTERS/Pierre Albouy/File Photo BOSTON (Reuters) – Hedge fund Third Point told investors in a letter on Thursday that it was happy with progress at some of its biggest holdings, including Nestle Read More

Swedish student leader wins EU pledge to spend billions on climate

1 day ago DieselGasoil Comments Off on Swedish student leader wins EU pledge to spend billions on climate
BRUSSELS (Reuters) – The European Union should spend hundreds of billions of euros combating climate change during the next decade, its chief executive said on Thursday, responding to a Swedish teen who has inspired a global movement of children against global warming. In a speech alongside 16-year-old Greta Thunberg in Brussels, European Commission President Jean-Claude Read More

UBS CEO says French appeals process to take 'several years'

2 days ago DieselGasoil Comments Off on UBS CEO says French appeals process to take 'several years'
Sergio Ermotti, CEO of UBS gestures during a panel discussion at the Swiss-American Chamber of Commerce in Zurich, Switzerland January 18, 2019. REUTERS/Arnd WIegmann/File Photo ZURICH (Reuters) – UBS Group expects its appeal of a French court verdict ordering the Swiss bank to pay 4.5 billion euros ($5.10 billion) for aiding tax evasion to last Read More

UBS to appeal after fined 4.5 billion euros in French tax fraud case

2 days ago DieselGasoil Comments Off on UBS to appeal after fined 4.5 billion euros in French tax fraud case
PARIS (Reuters) – A French court found Swiss bank UBS AG guilty of illegally soliciting clients and laundering the proceeds of tax evasion, ordering it to pay 4.5 billion euros ($5.1 billion) in penalties. FILE PHOTO: The logo of Swiss bank UBS is seen in Zurich, Switzerland October 25, 2018. REUTERS/Arnd Wiegmann/File Photo Shares in Read More

Credit Suisse loses bid to dismiss lawsuit in U.S. over writedowns

2 days ago DieselGasoil Comments Off on Credit Suisse loses bid to dismiss lawsuit in U.S. over writedowns
NEW YORK (Reuters) – A U.S. judge has rejected Credit Suisse Group AG’s bid to dismiss a lawsuit accusing the Swiss bank of defrauding shareholders about its risk appetite and risk management before taking $1 billion of writedowns on souring debt. FILE PHOTO: FILE PHOTO: Switzerland’s national flag flies next to the logo of Swiss Read More

UBS slams French verdict in tax evasion trial

2 days ago DieselGasoil Comments Off on UBS slams French verdict in tax evasion trial
The UBS logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren ZURICH (Reuters) – UBS slammed a French court verdict on Wednesday ordering the Swiss bank to pay 4.5 billion euros ($5.10 billion) after finding it guilty of aiding tax evasion. “The conviction is not Read More

French court fines UBS 4.5 billion euros in tax fraud case

2 days ago DieselGasoil Comments Off on French court fines UBS 4.5 billion euros in tax fraud case
PARIS (Reuters) – A French court on Wednesday found Swiss bank UBS AG guilty of illegally soliciting clients in France and laundering the proceeds of tax evasion, and ordered it to pay 4.5 billion euros ($5.1 billion) in penalties. FILE PHOTO: The logo of Swiss bank UBS is seen in Zurich, Switzerland October 25, 2018. Read More