The naivete of Volkswagen was called out by Tennessee Republican Senator Bob Corker. Tenesseee Republican Senator Bob Corker issued a warning to Volkswagen AG if the German carmaker allows the United Auto Workers to represent its workers, it would be its 'biggest mistake', The remarks were quoted by German newspaper Handelsblatt.

A default would bring catastrophic results to the world economy. The world is anticipating the showdown on Capitol Hill over the US federal budget and debt ceiling.

The Financial Times reported that US hedge funds had been aggressively investing in the struggling banking sector of Greece.

The United States of America had moved closer to reaching a first ever default on the nation's debt after House Speaker John Boehner ruled out a straightforward bill to increase the country's borrowing limits without approval from the US President, said The Economic Times report.

After the end of Bank of Korea's governor term, the central bank would need a new head that has strong global focus and a firm grip on international economics, said a presidential adviser.

HSBC Holdings had lost its bid to undo a 2009 securities fraud trial verdict, according to a Reuters report.

JC Penney named Jan Hodges as the new head of its struggling home goods section JC Penney Co Inc. had named an insider to be the new head of its struggling home goods section.

KKR & Co LP would soon reach a deal to acquire Crosby Group LLC in a transaction valued USD1 billion, said two sources familiar with the matter.

The recent remarks made by officials of both Bharti and Walmart indicate issues between the two. Walmart Stores Asia head Scott Price, contrary to previous reports, said a conversion of the current franchisee agreement with Bharti Retail into a joint venture is 'not tenable'.

With changes abound in LVMH, investors are now beginning to review the brand purchases done by management at its heyday.