German prosecutors probe Mitsubishi for suspected illegal defeat devices By Reuters

FRANKFURT (Reuters) – Japanese carmaker Mitsubishi (T:) is being probed by German prosecutors for suspected use of illegal defeat devices installed in diesel engines, the Frankfurt prosecutor’s office said on Tuesday. Officials are investigating a member of staff at an international carmaker for fraud, as well as a unit of an international car dealership company, and two auto suppliers as part of the probe, the prosecutor’s office said in a statement. Cars made by Mitsubishi equipped with 1.6 liter and 2.2 liter four-cylinder diesel engines are being investigated over the…

The Top U.S. Regulated Stock Brokers (AMTD, IBKR)

Investors must be careful to choose brokers that are fully regulated. The U.S. Securities and Exchange Commission (SEC) is the government agency that regulates the securities industry in the United States. The Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC) also play important parts in keeping U.S. investments safe. Choosing the Right Stock Broker Investors should make sure their broker is a member of FINRA or another independent self-regulatory organization. FINRA regulates and licenses brokerage firms and individuals. FINRA can fine or otherwise discipline its members.…

Guoxuan says in talks with Volkswagen, hasn’t reached binding agreement By Reuters

SHANGHAI (Reuters) – Guoxuan High-Tech Co Ltd (SZ:) is in talks with Volkswagen AG (DE:) for potential strategic cooperation in technology, product, and capital, the Chinese battery maker wrote in a company filing on Monday. Guoxuan added it has not reached a legally binding agreement with the German automaker regarding the terms and conditions of its cooperation. On Friday, Reuters reported that Volkswagen was preparing to purchase a 20% stake in Guoxuan. Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily…

January 17, 2020 Weekly Market Recap

January 17, 2020 Weekly Market Recap

The stock market plowed to new records this week, as earnings reports, economic data, trade news, and the bullish price action continued to bolster risk sentiment. The S&P 500 (+2.0%), Nasdaq Composite (+2.3%), and Russell 2000 (+2.5%) rose at least 2.0%, and the Dow Jones Industrial Average (+1.8%) followed right behind. Six of the 11 S&P 500 sectors finished with gains of at least 2.0%, including a 3.8% gain in the defensive-oriented utilities sector. The energy sector (-1.1%) was the only sector to finish lower, as oil prices ($58.55/bbl, -0.44,…

Drugmakers slash prices to be eligible for China’s bulk-buy program By Reuters

BEIJING (Reuters) – Global pharmaceutical majors and generic drugmakers chopped by 53% on average prices of some of their off-patent products in the latest bidding round under China’s national bulk-buy program, government officials said late on Friday. Beijing has been pushing forward the program where drugmakers have to go through a bidding process and cut prices low enough to be considered over generic copies and be allowed to sell their products at public hospitals via large-volume government procurement. Some global firms such as AstraZeneca (L:) and Merck (N:) have already…