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Macy's says employee hid up to $154 mn in costs over 3 years
Macy's disclosed Monday that an employee had hidden up to $154 million in expenses through false accounting entries over more than three years.
EU grocery shoppers 'fooled' by 'maze' of food labels: audit
European grocery shoppers are at risk of "being fooled" by a proliferation of confusing and sometimes misleading food labels, EU auditors said Monday, calling on the bloc to improve current rules.
Awaiting Commerzbank, Italy's UniCredit bids for Italian rival
With its plans for Germany's Commerzbank seemingly stalled, UniCredit, Italy's second-largest lender, launched Monday a bid to buy its rival BPM for 10.1 billion euros ($10.6 billion). UniCredit surprised markets and Berlin in September when it announced it had built a significant stake in Commerzbank, Germany's second-largest lender, fuelling speculation of a takeover bid.
British business group hits out at Labour's tax hikes
British business lobby group, the CBI, on Monday hit out over the Labour government's tax hikes on firms, saying the "heavy burden" risked cuts to hiring and investment. The CBI cancelled last year's annual conference after being caught up by allegations of sexual misconduct at the lobby group.
DHL cargo plane crashes in Lithuania, killing one
A DHL cargo plane crashed early Monday near the airport in Lithuania's capital, killing one person, authorities said as they searched for clues to what caused the tragedy. It was not immediately clear what caused the crash.
Asian markets begin week on front foot, bitcoin rally stutters
Asian markets rose Monday following a record close on Wall Street as traders welcomed Donald Trump's pick for Treasury secretary, while bitcoin's push to $100,000 ran out of steam after coming within a whisker of the mark at the end of last week. After a strong finish Friday on Wall Street -- where the Dow ended on a fresh record -- Asian markets followed suit.
Closing arguments coming in US-Google antitrust trial on ad tech
Google and the US government will face off in a federal court on Monday, as each side delivers its closing arguments in a case revolving around the technology giant's alleged unfair domination of online advertising. - 'Old practices' - The government alleges that Google controls the auction-style system that advertisers use to purchase advertising space online.
'Crucial week': make-or-break plastic pollution treaty talks begin
A final round of talks on a treaty to end plastic pollution opens on Monday, with the diplomat chairing the difficult negotiations warning nations not to miss a "once-in-a-generation opportunity". "This treaty is a once-in-a-generation opportunity," he said.
Petrol industry embraces plastics while navigating energy shift
Amid the inexorable shift toward more electric vehicles, oil and gas producers are looking increasingly to plastics to help keep them afloat, even if that sector faces challenges of its own.
AFP
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