GM pressured to compensate victims in faulty ignition crashes
13 Mar 2014 | 8:53 pm
GM is a different legal entity than the one that filed the 2009 bankruptcy that shook the U.S. economy. But with a massive recall on its hands and accusations the company knew of the defect for a decade, GM is facing pressure from consumer groups that say the arrangement would unfairly bar victims from getting the compensation they deserve. On Wednesday, two prominent consumer advocacy groups called on GM Chief Executive Officer Mary Barra to create a $1 billion trust fund to pay victims. "Don't you think in your heart of hearts that it is cruel and unfair to use those defenses to escape liability for a defect GM concealed and failed to remedy for 10 years?" Clarence Ditlow, executive director of the Center for Auto Safety, and Joan Claybrook, president emeritus of Public Citizen, stated in a letter they released to the public.
U.S. bill on Ukraine delayed as Congress debates IMF, campaign finance
13 Mar 2014 | 6:57 pm
By Patricia Zengerle WASHINGTON (Reuters) - The U.S. Senate will not vote until later this month at the earliest on a bill providing aid to Ukraine, after the measure got caught up in a partisan battle over International Monetary Fund reforms. The legislation including the IMF reforms, loan guarantees for Ukraine, sanctions against Russians and Ukrainians and economic aid for the new Kiev government was passed by the Senate Foreign Relations Committee on Wednesday. But it failed to advance in the Senate on Thursday, after Republicans objected to the inclusion of the IMF measure. The Senate's failure to consider the bill on Thursday meant it will be up for a vote only after Congress returns on March 24 from a recess that begins on Friday.
Leaked documents purport to reveal Turkish graft allegations
13 Mar 2014 | 5:49 pm
By Dasha Afanasieva and Humeyra Pamuk ISTANBUL (Reuters) - A Twitter account behind a string of leaks in a Turkish corruption scandal posted late on Thursday what it presented as police files detailing graft allegations against four former ministers, dealing a further blow to Prime Minister Tayyip Erdogan weeks before elections. The Twitter account using the pseudonym @HARAMZADELER333 posted links to a 299-page document and a 32-page document presented as police files from an investigation that became public on December 17 with a series of dawn raids. Former interior minister Muammer Guler, former economy minister Zafer Caglayan and former environment minister Erdogan Bayraktar each saw a son detained on December 17 as police went public with their long-running corruption inquiry.
IMF to start negotiations with Ukraine on aid program
13 Mar 2014 | 5:26 pm
By Anna Yukhananov WASHINGTON (Reuters) - An International Monetary Fund team in Kiev will begin negotiations with Ukrainian authorities about an economic reform program, the IMF's chief said on Thursday. "Following an informal briefing today of the IMF's executive board, (IMF) management has asked the team to stay in (Kiev) and begin a process of negotiation," IMF Managing Director Christine Lagarde said in a statement. The IMF team has been in Kiev since March 4 to gather data about the government's finances, and Lagarde met with Ukrainian Prime Minister Arseny Yatseniuk on Wednesday.
Dow posts fourth loss in a row as US stocks slide
13 Mar 2014 | 5:04 pm
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