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HSBC’s Australia unit faces $24.6 million penalty over scam protection failures

June 18 (Reuters) - HSBC's Australia unit has admitted to serious failures in protecting customers from scams and could face an A$35 million ($24.59 million) penalty pending court approval, Australia's corporate regulator said on Thursday. The Australian Securities and Investments Commission (ASIC) and HSBC will ...
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Climate-driven heat in India’s textile factories stifles workers but coolers and ventilation help

SURAT, India (AP) - For dozens of workers at a textile manufacturer on the edge of Surat, the blazing temperatures and high humidity on a recent afternoon were amplified by steam, radiating heat and chemical smells that emerged from the heavy machines that dominate ...
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Diageo new CEO tells executives to cut jobs and costs, FT reports

June 17 (Reuters) - Johnnie Walker maker Diageo's new boss, Dave Lewis, has asked executives to cut headcount and other costs as he begins restructuring the struggling spirits group, the Financial Times reported on Wednesday. Lewis, nicknamed "Drastic Dave" for aggressive cost cuts at Tesco ...
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Trading Day: US stocks end lower, dollar jumps as Federal Reserve kicks off Warsh era

By Stephen Culp NEW YORK, June 17 (Reuters) - Wall Street stocks turned sharply lower on Thursday, the dollar extended its gains and Treasury yields crept higher after the U.S. Federal Reserve left its key interest rate unchanged and signaled, amid elevated inflation and solid ...
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US stocks sink on worries about a possible hike to interest rates this year by the Federal Reserve

NEW YORK (AP) - U.S. stocks slumped Wednesday on speculation the Federal Reserve may hike interest rates this year to keep a lid on inflation. Higher rates can tap the brakes on accelerating prices at cash registers, but they also slow the economy and ...
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AP Exclusive: Bernie Sanders unveils plan to give the public direct ownership of AI companies

WASHINGTON (AP) - As artificial intelligence companies reshape the economy and race toward trillion-dollar valuations, Sen. Bernie Sanders is proposing a sweeping transfer of wealth and power from the industry to the American public. The legislation, shown first to The Associated Press, would create a ...
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Ray-Ban heir Leonardo Maria Del Vecchio steps into the spotlight

By Elisa Anzolin MILAN, June 17 (Reuters) - Leonardo Maria Del Vecchio, a son of the late founder of EssilorLuxottica, is seeking the financing for a deal to make him the largest shareholder in family holding company Delfin, the top investor in the $100 billion ...
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British TV personality Jeremy Clarkson reveals prostate cancer in final ‘Clarkson’s Farm’ episodes

LONDON (AP) - British television personality Jeremy Clarkson revealed on his farm reality show that he has prostate cancer. Clarkson, 66, said that the disease is "aggressive," but was detected early. He gave advance warning on social media Tuesday that he would share somber news on ...
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Toyota shareholders back Toyoda as chairman and new CEO Kon at annual meeting

By Maki Shiraki TOYOTA CITY, Japan, June 17 (Reuters) - Toyota Motor shareholders re-elected Akio Toyoda as chairman and backed new CEO Kenta Kon as a board member on Tuesday, endorsing the automaker's leadership at the first annual meeting held during Kon's tenure. Shareholders also approved ...
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Warsh to face spotlight as Federal Reserve likely to leave interest rates unchanged

WASHINGTON (AP) - The Federal Reserve will enter the Kevin Warsh era Wednesday, as President Trump's pick to lead the central bank oversees his first policy meeting and holds his first news conference. Yet Warsh isn't expected to immediately usher in significant policy changes. ...
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Shares are mixed and oil trades below $80 on optimism over interim US-Iran war deal

HONG KONG (AP) - Asian shares were mixed and oil was trading below $80 a barrel on Wednesday as markets watched for details on the interim agreement between the U.S. and Iran to end the war. U.S. futures edged higher ahead of the Federal Reserve's ...
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BUSINESS HEADLINES

AP Exclusive: Nvidia's Jensen Huang says society needs 'new social norms' in the age of AI SHERMAN, Texas (AP) - Nvidia CEO Jensen Huang - whose work helped propel artificial intelligence - is stressing in an Associated Press interview that society has no choice ...
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