Toyota Retakes Global Auto Sales Crown from GM
(DETROIT) — Toyota has once again dethroned General Motors as the world’s top-selling automaker. The Japanese company sold 9.7 million cars and trucks worldwide in 2012, although it’s still counting. GM sold 9.29 million. Both companies saw higher sales, but Toyota’s growth was far larger as it rolled out new versions of popular models like the Camry. GM executives promised sales growth this year, especially in the U.S. Both companies say publicly that they don’t care about who wins, but concede that the crown is an important morale booster for employees. (MORE: Taking Down Toyota: Automakers Aim to Unseat Corolla as World’s Top-Selling Car) GM was the top-selling carmaker for more than seven decades before losing the title to Toyota in 2008. But GM retook the sales crown in 2011 when Toyota’s factories were slowed by an earthquake and tsunami in Japan. The disaster left Toyota dealers with few cars to sell. The company has since recovered. Toyota’s comeback from the earthquake, ...
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Tesco Barely in Profit as it Prepares U.S. Exit
(LONDON) — Tesco PLC, Britain’s largest supermarket operator, says it is looking to sell its U.S. operations after failing to make an impression over six years. Tesco said Wednesday that net profit for the year dropped 96 percent to 120 million pounds ($183 million) following a 1.2 billion pounds writedown to exit its Fresh & Easy brand in the U.S. It also took an 804 million pounds writedown on its U.K. property portfolio. Fresh & Easy has nearly 200 stores in California, Arizona and Nevada. Tesco says it is also leaving Japan and taking a more measured approach to growth in China. Chief Executive Philip Clarke told the BBC that the decision to leave the United States was right for shareholders and that the company was looking for a single buyer. MORE: How the Entry of Walmart and Big Retail Chains Will Change India
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Authorities charge Swiss banker, attorney in tax probe
NEW YORK - Authorities on Tuesday charged a Swiss banker and a Swiss attorney with helping American clients hide millions of dollars in offshore accounts to evade paying taxes.
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Found more than 1 month ago on channel
Reuters
Stock Market Rebounds From Worst Day of the Year
(NEW YORK) — Strong housing and earnings reports helped stocks rebound from their worst day of the year. The Dow Jones industrial average rose 129 points, or 0.9 percent, on Tuesday, to 14,728 as of 1:50 p.m. EDT, winning back about half of the 265 points it lost a day earlier. Home construction topped 1 million last month, the highest level since June 2008. Robust earnings from companies including Coca-Cola also propelled the market higher. A recovery in housing and a pickup in hiring were major catalysts driving the stock market’s surge early this year. The Dow and the Standard & Poor’s 500 jumped 11.3 percent and 10.3 percent, respectively, in the first three months of 2013. (MORE: 6 Reasons Why the Stock Market Could Do Surprisingly Well in 2013) That run-up was interrupted Monday when stocks had their biggest decline since November. Worries about an economic slowdown in China led to a drop in prices for oil, copper, and other commodities, causing mining and energy stocks to fall. ...
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New American CEO to get $19.5 million if he loses job in merger
NEW YORK - US Airways CEO Doug Parker will receive an estimated $19.5 million in pay if he loses his job during the merger of US Air and American Airlines, the companies said Monday.
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Found more than 1 month ago on channel
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