As profit rises, Siemens
reorganizes and makes deals
New York Times: Siemens, the German electronics and engineering
giant, disclosed a sweeping reorganization on Wednesday as it said that profit
in its most recent quarter rose 12 percent. The company, which is competing
with General Electric Co. to acquire the power generation and transmission
units of its French rival Alstom, also announced a flurry of deals.
JPMorgan closing accounts
of foreign diplomats in U.S.
JPMorgan Chase & Co. is closing the accounts of current and former foreign
government officials in an attempt to avoid the compliance costs associated
with them, the Financial Times reported on Tuesday. The ban by the largest U.S.
bank by assets, which affects 3,500 accounts, has prompted former Colombia
finance minister Jose Antonio Ocampo to accuse it of discrimination in a
complaint to the consumer regulator, the report said.
Fiat Chrysler bets on
Jeep, Alfa revamp to go global
Fiat Chrysler is launching a breakneck global growth effort built around its
upmarket Alfa Romeo, Jeep and Maserati brands. Also CEO Sergio Marchionne
pledged to stay five years - two more than previously disclosed - to see the
plan through. In a 10-hour presentation to financial analysts on Tuesday,
Marchionne outlined a business plan aimed at reviving the company's historic
carmaking names and convincing investors that it can overcome high debt, an
uncertain market and past missteps to close in on industry leaders such as
Volkswagen AG and Toyota Motor Corp.