Business

China hits GM joint venture with $29M fine after price-fixing probe

The largest USA automaker is accused of setting minimum prices on some vehicles in its large SAIC General Motors joint venture. When the news came out last week that Chinese authorities were going to fine an unidentified US carmaker, the Foreign Ministry said that China welcomes foreign investment but companies have to abide by local regulations.

Business

Credit Suisse Agrees to Pay $5.3 Billion in US Mortgage Accord

Deutsche Bank will pay US$7.2 billion and Credit Suisse agreed to a US$5.3 billion deal, the banks said in separate statements yesterday. The banking giant announced the settlement yesterday evening, saying that it has reached an agreement with DoJ.

Business

Follow these fire safety tips to avoid Christmas tragedy

With the festive season, Thunder Bay Fire Rescue is urging everyone to pay special attention when cooking during the holidays, and to drink responsibly. ¯ After Christmas, dispose of the tree properly. These items burn unevenly and may cause a unsafe flash fire. Never leave the house with candles burning.

Business

Trump names Kellyanne Conway as counselor to the president

Conway told Fox News' Lou Dobbs that Trump has been balancing his role as the president-elect while still being respectful of the current administration in the White House . "He is his own person". Conway attended Trinity College in Washington , D.C. and went on to earn a degree from George Washington University Law School.

Business

Japan marks largest land return in Okinawa from U.S. since 1972

He also said there are plans to return more land in coming years, because " we are respectful of the feelings of Okinawans that our footprint must be reduced ". An Osprey crash-landing off Okinawa on 14 December added to safety concerns and anti-US base sentiment and, demanding an unconditional land return, Okinawa governor Takeshi Onaga skipped Thursday's handover ceremony and joined a protest.

Business

Hijackers of Libyan plane surrender, detained

The plane had been on a domestic Libyan route operated by Afriqiyah Airways from Sabha in southern Libya to the capital Tripoli on Friday morning, but was re-routed. Shortly before landing the pilots contacted the control tower to tell them their plane had been hijacked by two men armed with grenades. All flights into Malta International Airport have been diverted.