Chemistry Board

  • UBS Fined $47.6 Million

    UBS was fined £29.7 million ($47.6 million) by the U.K. and told by the Swiss that it may have to increase capital levels for operational risks as regulators levied penalties after Kweku Adoboli’s $2.3 billion trading loss.

  • General Motors CEO Dan Akerson has confirmed to more than 5000 staff that they will neither sell its loss-making European unit Opel nor simply close up shop and leave.

  • Peugeot and Opel halt tie-up

    General Motors and alliance partner PSA Peugeot Citroen have halted talks on a deeper tie-up amid misgivings about the French carmaker's worsening finances and government-backed bailout, people familiar with the matter said.

  • Toyota, Chrysler Group LLC, Nissan, Honda and their dealers plan to scrap more than 15,000 new vehicles damaged by Hurricane Sandy as the industry continues assessing the storm’s impact.

  • Spain Sells $6 Billion Debt

    Spain sold 4.76 billion euros ($6.06 billion) of debt, including the longest-maturity security it has auctioned in more than a year, even as weak demand prompted a slump in prices after the sale.

  • The pace of growth in the manufacturing sector picked up modestly in October as new orders improved, though a measure of employment slowed.

  • Ford To Cut 5700 Jobs

    Ford will shut three European plants, its first factory closings in the region in a decade, and cut about 5,700 jobs to stem losses that the company predicted today will exceed $1.5 billion in 2012.

  • BP PLC have agreed to sell its 50% stake in the lucrative but problematic Russian oil venture TNK-BP to OAO Rosneft, a deal that would dramatically alter the British energy giant's presence in a country that is the world's largest energy producer.

  • Bad loans at Spanish banks rose to a record high in August, driven by an increasing number of recession-hit Spaniards defaulting on their debt payments. Loans that fell into arrears in August increased by 5.3 billion euros ($7 billion) from July, reaching 178 billion euros, Bank of Spain data showed on Thursday.

  • Shell Oil Spill Trouble

    Representatives of Anglo-Dutch oil giant Shell are appearing in a Dutch civil court to face accusations of polluting Nigerian villages. The case is being brought by four Nigerian farmers and the Dutch branch of campaigners Friends of the Earth.

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