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The tech deal of the year finally happened. It’s official: Verizon is acquiring Yahoo’s core business for $4.83 billion. The deal, officially announced Monday morning, will see the end of an era for Yahoo.
Fiat inflated sales according to a industry journal. An internal review that Fiat Chrysler Automobiles conducted from mid-2015 found that U.S. sales figures were inflated by 5,000 to 6,000 vehicles, partly amid pressure to keep the company’s year-over-year monthly sales streak alive, the Automotive News reported.
Deutsche Bank faces a big US lawsuit. A US judge said Deutsche Bank must face part of a lawsuit claiming it defrauded investors who bought $5.4 billion of preferred securities by concealing its exposure to the fast-deteriorating subprime mortgage market.
The Japanese were frustrated at the G20. China dodged criticism of its economic management at a G20 meeting it hosted on the weekend, even winning plaudits for yuan transparency, much to the frustration of Japanese officials who are calling for more reforms from Beijing.
Singapore is cracking down. Singapore’s central bank said it will enhance controls against money laundering and take swift action against banks following damaging findings that financial institutions in the city-state handled money flows linked to Malaysian state fund 1MDB.
The EU is seeking to pressure VW. Europe’s Commissioner for Justice is working with EU consumer groups to pressure Volkswagen to compensate clients in Europe as it has in the United States over the diesel emissions scandal.
The robots are coming. SoftBank Corp’s human-like robot Pepper will be rolled out in Taiwan later this year with about 100 rented units making their appearance in some banks and Carrefour SA shops, executives handling Pepper’s sales in the island said on Monday.
Indonesia started a tax amnesty. Singapore’s wealth management industry is likely to suffer a bad dent as rich Indonesians move some money back home to take advantage of a tax amnesty, but the exodus of funds isn’t going to be as big as Jakarta is predicting.
Huawei sales are up 40%. Huawei Technologies, one of the world’s largest telecoms equipment makers, posted a 40% rise in first-half sales revenue and said it would “maintain current momentum” this year.
Nintendo tumbled. Shares of Nintendo tumbled as much as 18% after the company said smash-hit mobile game Pokemon GO would have only a limited impact on its earnings.
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