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Fiat Chrysler seeks new trial, says April award 'grossly excessive' DETROIT: Fiat Chrysler Automobiles has asked for a new trial following one that ended early in April with a Georgia jury awarding $150 million to the family of a 4-year-old boy killed in a fiery crash involving at 1999 Jeep Grand Cherokee. Evidence and the law did not support that verdict in April, the company's lawyers said in a filing Thursday. The filing with the Superior Court of Decatur County says the $120 million wrongful death award is more than 11 times the largest death award in Georgia history.The $30 million pain and suffering award is more than four times the largest award upheld in the state, it says. The filing added: "The jury's stunning and unprecedented damage awards are grossly excessive." The jury found Chrysler, now part of Fiat Chrysler Automobiles, was 99 percent at fault in the death of Remington Walden.The driver who slammed into the back of ...

Surprise fall in German industrial output, trade surplus narrows FRANKFURT: Germany's industrial output was hit by a surprise fall in March while its trade surplus narrowed slightly, official data showed Friday, with analysts pointing to likely slower growth early this year.Provisional figures by the federal statistics office, Destatis, revealed a slight monthly fall of 0.5 percent in industrial production after seasonal adjustments.Analysts had predicted a modest rise of 0.4 percent, said financial data firm Factset. The slide is mostly due to a 1.4-percent dip ...
Telecom Italia CEO says Metroweb talks went wrong MILAN: Telecom Italia CEO Marco Patuano said on Friday discussions with the government to buy fiber optic network firm Metroweb had not gone in the right direction but he did not close the door to resuming talks at the right conditions.Speaking on a conference call with analysts, Patuano said Telecom Italia was aiming to reach full ownership of partly state-owned Metroweb but was ready to give the government a role to ensure equal network access ...
Russia, China to invest 1 trln roubles in rail link MOSCOW: Russian Transport Minister Maxim Sokolov said on Friday Russia and China would invest 1 trillion roubles ($19.7 billion) in a Moscow-Kazan rail link and that it would be completed by 2020. Copyright Reuters, 2015 ...
Ericsson extends patent suits against Apple to Europe STOCKHOLM: Swedish telecom equipment maker Ericsson has filed lawsuits in Germany, Britain and the Netherlands against Apple over technology licence payments, Ericsson said on Friday, extending a US battle between the firms to Europe. Ericsson said it had offered to enter into arbitration with Apple to reach a global licensing agreement for its patents, but that offer had now expired. "Apple continues to profit from Ericsson's technology without having a valid licence in place," said ...
Toshiba pulls earnings forecast over accounting probe TOKYO: Japan's Toshiba on Friday withdrew its earnings forecast for the past fiscal year and said it won't pay a dividend, citing a probe into accounting irregularities on a number of infrastructure projects.The vast engineering conglomerate, which makes everything from batteries to nuclear reactors, cancelled its projection for a 120 billion yen ($1.0 billion) net profit on sales of 6.7 trillion yen in its latest fiscal year to March, and warned it may also have ...
BG Group says profits slide awaiting purchase by Shell LONDON: British energy firm BG Group, facing a mega takeover by Royal Dutch Shell, announced a slump in first-quarter profits on Friday in the wake of sliding oil and gas prices.Profit after tax tumbled 78 percent to $240 million (214 million euros) in the three months to the end of March compared with $1.11 billion in the first quarter of 2014, BG Group said in a statement.Revenue dropped 23 percent to $3.82 billion, "reflecting a ...


Index Closing Chg%
Arrow DJIA 18,232.02 0.29
Arrow Nasdaq 5,089.36 0.03
Arrow S&P 2,126.06 0.22
Arrow FTSE 7,031.72 0.05
Arrow DAX 11,815.01 0.42
Arrow CAC-40 5,142.89 0.07
Arrow Nikkei 20,264.41 0.30
Arrow H.Seng 27,992.83 1.70
Arrow Sensex 27,957.50 0.53

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln