Top German court grants buybacks for Volkswagen diesel car owners

Almost 5 years after Volkswagen's admission to cheating on emissions tests, the ruling is the first real legal setback for VW in its home country

German court ruling clears the way to settle VW diesel cases

KARLSRUHE, Germany (AP) — A German court has ruled that Volkswagen must buy back cars from owners of its diesel cars equipped with software that evaded emissions testing — but consumers must accept the current value of the car based on the mileage they drove since buying it, not the purchase price.Volkswagen said the decision announced Monday would clear the way for settlement of remaining consumer claims in Germany. The decision affects some 60,000 individual claims brought by car owners there; around 262,000 others have already been covered by an 830 million-euro ($904 million) class-action settlement.“For the majority of the 60,000 pending cases, this ruling provides clarity,” the company said in a statement.

EU must present united front to shield pandemic-hit banks: regulator

European countries need to join forces to shield their banks from the coronavirus outbreak, one of the bloc's top regulators said on Monday, potentially using a 500 billion euro ($545 billion) EU recovery fund to do so. The remarks from Jose Manuel Campa, who leads the European Banking Authority

EU must present united front to shield pandemic-hit banks: regulator

FRANKFURT (Reuters) - European countries need to join forces to shield their banks from the coronavirus outbreak, one of the bloc’s top regulators said on Monday, potentially using a 500 billion euro ($545 billion) EU recovery fund to do so.

Air Canada’s Bid for Transat Gets Extended EU Merger Probe

Air Canada’s bid for tour operator Transat A.T. Inc. faces an extended probe from European Union regulators who said the deal may hamper competition by combining the two biggest airlines linking Europe and Canada.

Covid-19: Minister confirms review of special unemployment payment

Figures show 35,600 people who were receiving the benefit are now returning to work

HDFC Q4: Loan growth slows owing to Covid-19-led disruption

Aside from slowdown in disbursements, the lockdown also impacted collections in the second half of March

British farmers 'will go out of business' in UK-US trade deal, Theresa Villiers warns

British farmers “will go out of business” as a consequence of a trade deal with the United States, former environment secretary Theresa Villiers has warned. Admitting that she had "great fears" about "unfettered competition between domestic farmers and US imports", she said it would

Bank of Israel leaves rates unchanged, sees less economic damage in 2020

JERUSALEM (Reuters) - The Bank of Israel left its benchmark interest rate ILINR=ECI at 0.1% on Monday, saying economic damage from the coronavirus outbreak was likely to be less than initially feared.

Bayer, Lufthansa drive gains in Europe amid holiday-thinned trading

European stocks rose to kick off the week on Monday, albeit with the action thinned by holidays in the U.K. and the U.S.

Supplies of smartphones, tablets, laptops hit due to lower production & distribution workforce

Two senior industry executives said brands like Apple, Xiaomi, Oppo, Vivo and Realme are facing supply issues with operational plants running at 30-35% capacity and several warehouses are not able to operate normally.

Top news of the day: Economic package is a mix of supply-side and demand-side measures, says Dharmendra Pradhan; No Eid sweets exchanged by BSF with Pakistan, and more

The major news headlines of the day, and more.

Hertz files for US bankruptcy protection as car rentals evaporate in pandemic

The firm, whose largest shareholder is billionaire investor Carl Icahn with a nearly 39 percent ownership stake, is reeling from government orders restricting travel and requiring citizens to remain home.

Subsidy for scooter scheme released

A sum of ₹8.88 crore has been released as subsidy for purchase of scooters for women under Amma scheme in Tiruvarur district.Disclosing this while handing over the keys to 216 beneficiaries at the Dis

Philip Morris: Odds Stacked In Favor For Dividend Investors

The first quarter of 2020 has largely shown the ability of the tobacco industry to withstand tough times, with Philip Morris holding strong whilst many companie

Central Bank warns people of four unauthorised financial firms in operation

The Central Bank says Aran Asset Management, MSIM Fund Management, and CMS ICAV have cloned the details of already existing firms.

How Netgear Is More Than Just A 5G Play

Netgear's revenue growth picked up at the tail-end of the first quarter. Paid subscribers could double. Mesh network, WiFi 6, and hotspots are positive drivers

Commercial real estate to move northwards in Tier 2 markets post Covid-19

Factors like good location, easy accessibility, improvement in basic infrastructure, increased connectivity with suburbs and the availability of skilled manpower have turned smaller cities into an attractive business destination.

Scott Sumner On The Government's Response To COVID-19 And The Future Of Level Targeting

The Fed needs to be more aggressive addressing the macroeconomic problems stemming from COVID-19, and adopting a level target may be one solution. Scott Sumner

STC first in MENA to join GSMA APAC IoT Partnership Program

The STC Group has signed a non-binding memorandum of understanding with the GSMA to join the GSMA Asia Pacific (APAC) IoT Partnership Program, one of the most extensive Internet of Things (IoT) communities worldwide. By signing this memo, the STC Group becomes the first mobile network operator region wide to be a part of the program.

Vedanta’s delisting plan: What choice do shareholders have?

The price of ₹87.5 per share indicated by the company may be too low; but investors have the choice of placing their bids higher

AMC Entertainment: The Possible Outcomes And Probabilities

AMC was poised for a strong recovery prior to the recent health crisis. COVID-19 has hit the company like a meteor. AMC, currently, has zero revenues and a larg

CEFs Vs. The Gone Fishin' Portfolio

Sometimes, it's good to put our portfolio strategy to a series of tests to confirm our investing thesis or reveal if a change is warranted. CEFs can be volatile

Flights from Israel's Ben Gurion Airport to resume in July - Inside Israel

Airport officials say no departures will be permitted in June, with outbound flights resuming only in July.

NAB's rod for its own back

NAB will reveal the results of a share purchase plan that might be heavily oversubscribed on Wednesday.

Calicut airport resumes domestic operations

After a two-month gap, Calicut international airport resumed the operation of domestic flights from Monday. Airport Director K. Srinivasa Rao told The Hindu that an Indigo flight operated in the Benga

We deserve a better deal: All India Radio RJs unpaid since lockdown, Prasar Bharati not yielding

India News: Despite Prime Minister Narendra Modi’s repeated appeals besides letters from the finance and labour ministries to not fire employees or cut their wage

AirAsia India opens domestic flight bookings for passengers; will fly to 21 destinations; details

With the announcement of resumption in domestic flight operations, AirAsia India has resumed its operations and will fly to 21 destinations in the country.

USD/CAD stays below 1.4000 ahead of Poloz speech

Similar to other major currency pairs, USD/CAD is moving sideways in a tight channel on Monday amid thin trading conditions. As of writing, the pair w

GBP/USD clings to modest gains, bulls await a move beyond 1.2200 mark

The GBP/USD pair edged higher through the early North American session and was last seen trading near the top end of its daily trading range, just bel

USD/MXN: Slight relief for the peso – CIBC

The initial market reaction to Banxico’s cut to 5.5% suggests that the decision was not more dovish than investors were expecting, according to analys

Covid-19: FSSAI extends deadline for compliance norms for traditional sweets

In a relief for traditional sweet makers, the Food Safety and Standards Authority of India (FSSAI) has decided to extend the deadline for enforcement of certain mandatory compliance norms for non-pack

Has the pandemic drastically changed your financial situation? We want to hear from you

If your finances have taken a life-changing hit because of the pandemic, we want to hear from you.

Want to buy car or bike for social distancing? These points will guide you

A recent survey by Capgemini’s Research Institute shows that 57 per cent of Indian consumers are considering a car purchase to avoid future public transport.

Celsius: Hold On For The Ride

Celsius's potential TAM is massive and should support many years of strong growth. Even with COVID-19 substantially disrupting marketing, the company is still s

Neobank N26 Executive Predicts there will be As Many Digital Bank Accounts as Traditional Ones, but Global Fintech Reports Suggest Otherwise

Digital banks are on track to serve as many clients in Ireland as traditional banking service providers, according to N26, an all-digital challenger t

Bithumb Names Back Young Heo as Its New CEO

South Korean crypto exchange Bithumb has promoted Back Young Heo as its new chief executive officer (CEO).

Eidoo Partners with Contis to Launch a Visa Crypto Card

Eidoo has announced its partnership with Contis, a principal member of Visa Europe, to launch a new Visa-enabled crypto debit card.

Indian Tea industry suffers loss of Rs 2100 crore in WB and Assam

Kolkata: The tea industry in two states, West Bengal and Assam is staring at a loss of around Rs 2,100 crore due to the Covid-19 pandemic as production has dipped by a whopping 65 percent in the past two months.

EU’s Von der Leyen to begin ‘trillion-euro’ recovery battle

BRUSSELS, May 25 — European Union chief Ursula von der Leyen will on Wednesday unveil a trillion-euro post-coronavirus recovery plan that she hopes will point the way to compromise between warring capitals. The EU has plunged into its deepest ever recession and pressure is mounting to unleash...

Australian economy must come off Covid-19 ‘life support’, PM to say

SYDNEY, May 25 — Australia’s economy must not become reliant on government stimulus, Prime Minister Scott Morrison will say tomorrow, as Canberra unwinds state support and accelerates plans to spur growth. Australia has reported just over 7,100 Covid-19 infections, including 102 deaths. That is...

Germany mulls €50,000 a month for stricken firms

FRANKFURT AM MAIN, May 25 — Germany’s economy ministry today unveiled plans to ramp up support for hard-hit smaller companies, proposing as much as €50,000 (US$54,000) in monthly aid to help the nation’s vaunted “Mittelstand” survive the coronavirus crisis. The proposal, seen by AFP, is...

India's oil minister: India's June fuel demand to reach year-ago level

India's oil and steel minister Dharmendra Pradhan said on Monday that India's fuel demand is expected to reach the "year-ago level" in June, as report

USD/JPY Price Analysis: Sticks to modest gains near 50-day SMA, around 107.70 region

The USD/JPY pair held on its modest daily gains through the early North American session and was last seen trading near the top end of its daily tradi

EUR/GBP alternates gains with losses near 0.8950

The now better mood in the British pound is forcing EUR/GBP to ease some ground following last week’s peaks in the 0.9000 neighbourhood. EUR/GBP faile

Oil New York Price Forecast: WTI recovery limited below 34.25 level

The crude oil recovery is taking a break after making fresh May’s highs. WTI is trading above its main SMAs on the four-hour benefiting bullish momentum in th

Electronic Waste, A Brighter Future

With the worldwide use of consumer electronics on the rise, the amount of waste generated as these products fail and break down over time is only going to increase. By the end of this year globally mankind will have generated an estimated 50 million tons of e-waste and will be set to increase that 5% on the year for the foreseeable future.

EUR/USD: At risk of extending its slide

The EUR/USD pair hovers around the 1.0900 level in a quiet start to the week, with the shared currency founding support in a better than anticipated G

Omani Oil prices show upward trend

The price of Omani oil continued to rise, with prices for delivery by next July reaching $37.02 USD on the Dubai Energy Market on Monday

Genting Malaysia Bhd to undertake MSS, VSS for employees in Covid-19 restructuring exercise

KUALA LUMPUR, May 25 — Genting Malaysia Bhd (GENM) announced today it will undertake mutual and voluntary separation schemes for its employees to further mitigate the adverse financial impact from the ongoing Covid-19 pandemic. In an internal memo circulated to its employees sighted by Malay...

I refinanced my mortgage during COVID-19, and thanks to low interest rates I'll save about $50,000

When my wife and I bought our home about three years ago, we were thrilled to just be approved for a loan. As a newly self-employed writer, we definitely had to jump through a few hoops to buy our home despite credit scores above 800.

Rhumbline Advisers Increases Stock Position in Fox Corp (NASDAQ:FOX)

Rhumbline Advisers boosted its stake in shares of Fox Corp (NASDAQ:FOX) by 9.8% in the first quarter, HoldingsChannel.com reports. The fund owned 264,628 shares of the company’s stock after purchasing an additional 23,633 shares during the period. Rhumbline Advisers’ holdings in FOX were worth $6,055,000 at the end of the most recent reporting period. Other […]

Egypt plans EGP 19bn investments in petrochemical projects

Cairo - Mubasher: The Egyptian Ministry of Petroleum and Mineral Resources is considering the implementation of 11 new petrochemical projects at a total value of around EGP 19 billion, Minister of Petroleum and Mineral Resources Tarek El-Mulla …

Korean Air to offer W300b in new shares as collateral for fresh liquidity injection

  Korea's top air carrier Korean Air Lines Co. decided Monday to offer 300 billion won ($242 million) worth of new shares as collateral to receive fresh financial support from creditor banks as it seeks to tide over a liquidity crunch. In April, the Korea Development Bank (KDB) and the Export-Import Bank of Korea (Exim Bank) decided to extend 1.2 trillion won in liquidity to the country's flag carrier hit by th...

RBI And MPC Should Junk Monetary Policy Calendar In Times Of Covid-19, Act Preemptively To Avert Crisis

The problem is not what the RBI will or will not do, but it is more to do with the timing.  

BC Hydro orders curtailments

At least one independent power producer in B.C. has been told by BC Hydro to stop producing power, as a result of plummeting demand during the COVID-19 pandemic.

PNC Financial Services Group Inc. Sells 592 Shares of Vanguard Extended Market ETF (NYSEARCA:VXF)

PNC Financial Services Group Inc. cut its holdings in Vanguard Extended Market ETF (NYSEARCA:VXF) by 1.4% during the 1st quarter, Holdings Channel reports. The fund owned 41,489 shares of the company’s stock after selling 592 shares during the period. PNC Financial Services Group Inc.’s holdings in Vanguard Extended Market ETF were worth $3,757,000 as of […]

No mask, no service?

Anyone hoping for a way out of putting on a face mask to visit stores and other businesses demanding customers wear one, think again.

PM's economic package 'jumla', less than 1pc of GDP: Prithviraj Chavan

Fixed Exchange Rate: More harm than good

The Reserve Bank of Zimbabwe suspended the new managed floating exchange rate and introduced the fixed exchange rate of 1 US Dollar to 25 Zimbabwean Dollars on ...

BonelliErede appoints two partners in Ethiopia

The two young and energetic Ethiopian lawyers appointed to serve BonelliErede are Seble Geberegiorgis Baraki and Weynalem Weldesenbet, according to the statement from the company. The Addis Ababa team is part of BonelliErede’s broader Africa Team, which boosts 40+ professionals across Europe, the Middle East and Africa. Seble Geberegiorgis Baraki (34) is an expert in corporate, commercial and IP matters and has been practising law for more than 10 years. She holds an LL.B. from Addis Ababa University and an LL.M. in European IP Law from the University of Stockholm.

Breaking: Africa Top Brands: MTN, Dangote emerges most admired African brands

MTN, Dangote has emerged the most admired African brands at the 10th Brand Africa 100, Africa's Top Brands anniversary.

Fiera Capital Corp Decreases Position in Canopy Growth Corp (NYSE:CGC)

Fiera Capital Corp reduced its stake in Canopy Growth Corp (NYSE:CGC) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,751 shares of the marijuana producer’s stock after selling 783 shares during the period. Fiera Capital Corp’s holdings in Canopy Growth […]

ETRADE Capital Management LLC Sells 1,830 Shares of Allergan plc (NYSE:AGN)

ETRADE Capital Management LLC cut its position in shares of Allergan plc (NYSE:AGN) by 36.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,173 shares of the company’s stock after selling 1,830 shares during the quarter. ETRADE Capital Management LLC’s […]

Oppenheimer Asset Management Inc. Has $716,000 Stock Position in Texas Roadhouse Inc (NASDAQ:TXRH)

Oppenheimer Asset Management Inc. lifted its position in Texas Roadhouse Inc (NASDAQ:TXRH) by 14.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 17,340 shares of the restaurant operator’s stock after purchasing an additional 2,163 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Texas Roadhouse were worth $716,000 as of its […]

Video: One billion stars and counting—the sky according to Gaia's second data release

Launched in 2013, ESA's Gaia satellite has been scanning the sky to measure the positions, distances and motions of more than one billion stars in our galaxy, the Milky Way. The goal of the mission is ...

Fiera Capital Corp Sells 307 Shares of Aptiv PLC (NYSE:APTV)

Fiera Capital Corp trimmed its holdings in Aptiv PLC (NYSE:APTV) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,935 shares of the auto parts company’s stock after selling 307 shares during the period. Fiera Capital Corp’s holdings in Aptiv […]

Edison International (NYSE:EIX) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in shares of Edison International (NYSE:EIX) by 3.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,271 shares of the utilities provider’s stock after selling 3,487 shares during the period. PNC Financial […]

ETRADE Capital Management LLC Raises Position in Lincoln National Co. (NYSE:LNC)

ETRADE Capital Management LLC lifted its stake in shares of Lincoln National Co. (NYSE:LNC) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,099 shares of the financial services provider’s stock after buying an additional 336 shares during the quarter. ETRADE Capital […]

Darden Restaurants (NYSE:DRI) Price Target Raised to $88.00

Darden Restaurants (NYSE:DRI) had its price objective upped by KeyCorp from $75.00 to $88.00 in a report published on Thursday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the restaurant operator’s stock. Other equities research analysts have also issued reports about the stock. Goldman Sachs Group upgraded shares of Darden Restaurants from a […]

6,668 Shares in AmerisourceBergen Corp. (NYSE:ABC) Acquired by ETRADE Capital Management LLC

ETRADE Capital Management LLC purchased a new stake in AmerisourceBergen Corp. (NYSE:ABC) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,668 shares of the company’s stock, valued at approximately $590,000. Other hedge funds also recently added to or reduced their stakes in […]

Mackay Shields LLC Invests $1.78 Million in Axon Enterprise Inc (NASDAQ:AAXN)

Mackay Shields LLC acquired a new position in shares of Axon Enterprise Inc (NASDAQ:AAXN) during the first quarter, Holdings Channel.com reports. The fund acquired 25,200 shares of the industrial products company’s stock, valued at approximately $1,784,000. A number of other institutional investors and hedge funds also recently modified their holdings of AAXN. Wealth Quarterback LLC […]

ETRADE Capital Management LLC Purchases New Holdings in Docusign Inc (NASDAQ:DOCU)

ETRADE Capital Management LLC acquired a new stake in Docusign Inc (NASDAQ:DOCU) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,364 shares of the company’s stock, valued at approximately $496,000. Several other hedge funds and other institutional investors have also added to […]

Oppenheimer Asset Management Inc. Has $831,000 Stake in Spirit Realty Capital Inc (NYSE:SRC)

Oppenheimer Asset Management Inc. raised its stake in shares of Spirit Realty Capital Inc (NYSE:SRC) by 56.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 31,797 shares of the real estate investment trust’s stock after purchasing an additional 11,473 shares during the period. Oppenheimer Asset Management […]

Oppenheimer & Co. Inc. Reduces Position in Unum Group (NYSE:UNM)

Oppenheimer & Co. Inc. cut its position in shares of Unum Group (NYSE:UNM) by 5.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,352 shares of the financial services provider’s stock after selling 2,506 shares during the period. Oppenheimer & Co. […]

Synchrony Financial (NYSE:SYF) Shares Sold by ETRADE Capital Management LLC

ETRADE Capital Management LLC reduced its stake in shares of Synchrony Financial (NYSE:SYF) by 20.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,834 shares of the financial services provider’s stock after selling 8,693 shares during the quarter. ETRADE Capital Management LLC’s holdings […]

AE Wealth Management LLC Raises Holdings in Axon Enterprise Inc (NASDAQ:AAXN)

AE Wealth Management LLC lifted its holdings in shares of Axon Enterprise Inc (NASDAQ:AAXN) by 8.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,137 shares of the industrial products company’s stock after acquiring an additional 256 shares during the period. AE Wealth Management LLC’s holdings in […]

PNC Financial Services Group Inc. Purchases 9,907 Shares of Lincoln National Co. (NYSE:LNC)

PNC Financial Services Group Inc. lifted its position in shares of Lincoln National Co. (NYSE:LNC) by 5.4% during the 1st quarter, HoldingsChannel reports. The firm owned 192,415 shares of the financial services provider’s stock after acquiring an additional 9,907 shares during the period. PNC Financial Services Group Inc.’s holdings in Lincoln National were worth $5,064,000 […]

PNC Financial Services Group Inc. Sells 2,146 Shares of Leidos Holdings Inc (NYSE:LDOS)

PNC Financial Services Group Inc. decreased its holdings in shares of Leidos Holdings Inc (NYSE:LDOS) by 4.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,268 shares of the aerospace company’s stock after selling 2,146 shares during the quarter. PNC […]

ETRADE Capital Management LLC Sells 5,934 Shares of Valero Energy Co. (NYSE:VLO)

ETRADE Capital Management LLC reduced its holdings in Valero Energy Co. (NYSE:VLO) by 36.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,555 shares of the oil and gas company’s stock after selling 5,934 shares during the quarter. ETRADE Capital Management […]

Aigen Investment Management LP Sells 75,814 Shares of Marathon Oil Co. (NYSE:MRO)

Aigen Investment Management LP trimmed its position in Marathon Oil Co. (NYSE:MRO) by 37.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 126,780 shares of the oil and gas producer’s stock after selling 75,814 shares during the period. Aigen […]

Oppenheimer & Co. Inc. Boosts Stock Position in Axon Enterprise Inc (NASDAQ:AAXN)

Oppenheimer & Co. Inc. increased its stake in shares of Axon Enterprise Inc (NASDAQ:AAXN) by 20.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,830 shares of the industrial products company’s stock after purchasing an additional 1,500 shares during […]

Bharti Airtel promoter to raise USD 1 billion through equity

SuperValu sales of Irish lamb set to reach €16.5 million

SuperValu forecasts sales of €16.5 million in Irish Lamb in its stores across Ireland this year, as consumer demand for new season fresh Irish lamb surges.

Another Bihar-bound Shramik Special ferries 1,164 migrants from Mysuru

Mysore/Mysuru: The eight ‘point-to-point’ Shramik Special train from Mysuru Division, carrying 1,164 migrants, left Ashokapuram (Mysuru) Station on Sunday at 14:00 hrs for Purnia in Bihar. This train is being run as per the request of the State Governments of Bihar and Karnataka. The train comprising 22 LHB coaches is scheduled to reach Purnia (2488...