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Bank of America revs up auto loans business despite warning signs

/  03.03.2016  /  Business 

(Reuters) – Bank of America is making a big push into auto lending just as regulators are sending warning signals, losses from auto loans are rising, and rivals are growing more cautious after years of strong returns.

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Home ‘flipping’ exceeds peaks in some hot U.S. housing markets

/  03.03.2016  /  Business 

NEW YORK (Reuters) – Home flipping – buying and reselling a home to make a quick buck – has risen in some hot U.S. housing markets, prompting concerns that local housing bubbles could be developing, according to a report published on Thursday.

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Valeant appoints Ari Kellen executive vice president

/  03.03.2016  /  Business 

(Reuters) – Valeant Pharmaceuticals International Inc said it appointed Ari Kellen executive vice president, succeeding Deb Jorn who has resigned, effective immediately.

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Young rags-to-riches Australian coal baron Tinkler declared bankrupt

/  03.03.2016  /  Business 

SYDNEY (Reuters) – Rags-to-riches coal mining baron Nathan Tinkler, who rode the mining boom to become Australia’s youngest billionaire before losing it all when coal prices collapsed, has been declared legally bankrupt after failing to pay off a private jet.

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Asia shares score seven-week peak, commodities on the mend

/  03.03.2016  /  Business 

SYDNEY (Reuters) – Asian shares were trying to string together three sessions of gains on Thursday as upbeat data on U.S. jobs and gains for a range of commodities whetted risk appetites globally.

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U.S. regulator says no benefit in larger Takata air bag recall

/  03.03.2016  /  Business 

WASHINGTON (Reuters) – The top U.S. auto safety regulator said an expanded recall of Takata air bag inflators proposed by a U.S. senator would not enhance public safety and complicate the process of replacing the equipment, the lawmaker revealed on Wednesday.

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Pressure builds against short sellers targeting Tesla

/  03.03.2016  /  Business 

SAN FRANCISCO (Reuters) – Potential losses are building against traders who have bet against Tesla Motors Inc .

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Chinese financial players shake up Hong Kong office market

/  03.03.2016  /  Business 

HONG KONG (Reuters) – Mainland Chinese financial institutions have expanded their physical footprint in Hong Kong’s prime business district at their fastest pace in five years, driving up rents and underscoring how Beijing’s policies are reshaping the city.

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U.S. airlines vie for limited routes to Cuba

/  03.03.2016  /  Business 

(Reuters) – Several top U.S. airlines on Wednesday said they were seeking regulators’ approval to start flying specific routes to Cuba, ramping up a battle over a limited number of opportunities to serve one of the industry’s last frontiers.

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Target to invest billions to improve supply chain, ramp up online growth

/  03.03.2016  /  Business 

NEW YORK (Reuters) – Target Corp said on Wednesday it will invest $2-$2.5 billion annually starting 2017, mainly to upgrade its supply chain and technology infrastructure, as it races to reduce stock shortages and pushes for online growth.

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