John T Chambers, Executive Chairman of Cisco, has been elected as the new chairman of the US India Business Council (USIBC), the apex advocacy group for India and American companies in the US.
The French public prosecutor`s office on Tuesday requested the dismissal of a negligence case against IMF chief Christine Lagarde linked to her role in an arbitration case while she was finance minister.
Wall Street stocks tumbled Tuesday, joining European equities in falling on worries about global growth and the burgeoning Volkswagen emissions scandal.
The impact of China's economic slowdown on the global economy is bigger than previously thought, the head of the International Monetary Fund said on Tuesday.
The U.S. Federal Reserve likely will pull the trigger and hike interest rates in December after taking a pass last week, according to economists polled by Reuters who assigned a 60 percent probability of it happening.
Volkswagen chief Martin Winterkorn on Tuesday offered his "deepest apologies" for the pollution-cheating scandal engulfing the auto giant and threatening to tarnish Germany`s industrial reputation.
European stock markets tumbled Tuesday with carmakers and miners in freefall on the worsening Volkswagen scandal and a bleak outlook for China`s economy, dealers said.
The United States has opened a criminal investigation into Volkswagen, which has admitted almost 500,000 of its cars in the US have a clean-air cheating device, a source close to the probe told AFP Tuesday.
IMF chief Christine Lagarde on Tuesday pressed Ukraine`s hold-out creditors such as Russia and a handful of Western investment houses to write off some of the crisis-wrecked country`s massive debt.
Bank of America chief executive Brian Moynihan will keep his chairman post after a majority of shareholders backed the appointment Tuesday, outvoting critics who wanted to split the posts.
Greek Prime Minister Alexis Tsipras will reappoint Euclid Tsakalotos as finance minister, a senior source in his leftist Syriza party said on Tuesday, to offer continuity in bailout talks with international lenders.
Goldman Sachs Group Inc Chief Executive Officer Lloyd Blankfein said on Tuesday he had a "highly curable" form of lymphoma, and would be able to work substantially as normal during treatment.
"Nonsense," a spokesman at the company`s headquarters in Wolfsburg said on Tuesday when asked whether the report by German Tagesspiegel was true.
Volkswagen will dismiss Chief Executive Martin Winterkorn, a German newspaper said on Tuesday, after the carmaker admitted to cheating US vehicles emissions tests and said 11 million of its cars could be affected worldwide.
Share prices on the Frankfurt stock exchange fell more than 3.0 percent in midday trading on Tuesday, pushed down by index heavyweight Volkswagen, as it ploughed ever deeper into a pollution cheating scandal.
The chief executive of Volkswagen America, Michael Horn, used unusually candid language to apologize and admit wrongdoing after the German car giant was caught cheating in US pollution measuring tests.
Shares in the auto giant Volkswagen continued to slide in early trading on the Frankfurt stock exchange on Tuesday, after skidding more than 17 percent the day before.
United States Secretary of State John Kerry has said that the climate for bilateral investment and trade has never been better and that is true to everything from clean energy to aerospace to fiscal services and investment.
The US government has expanded its investigation of pollution-skirting devices in diesel vehicles to other manufacturers after Volkswagen admitted it used them to thwart US environmental standards.
Weary Greece braced for more painful austerity Monday as left-wing prime minister-elect Alexis Tsipras worked on forming a coalition to drive through unpopular reforms agreed with the nation`s international creditors.
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