HAMBURG Volkswagen said on Wednesday it was recalling 680,000 cars of its namesake brand in the United States because Takata-made airbags in them could be defective.
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WASHINGTON/SAN FRANCISCO Federal Reserve Chair Janet Yellen will defend the U.S. central bank's first rate hike in a decade and likely insist that further rises this year remain on track, albeit at a slower pace, when she addresses Congress on Wednesday.
BERLIN Germany's Audi and BMW sold fewer vehicles in January than luxury rival Mercedes-Benz, which has benefited from a continued surge in Chinese demand for its compact cars and sport-utility vehicles (SUV).
PARIS French luxury goods maker Hermes has yet to see its business in Paris recover from November's deadly attacks on the city and warned of a potential further slowdown in global sales this year.
ZURICH Credit Suisse Chief Executive Tidjane Thiam told the Financial Times the Swiss bank's capital position has never been better.
LONDON The dollar struggled to climb off 3-1/2-month lows on Wednesday as worries over a global economic slowdown weighed and traders waited for more tips on the likely course of U.S. interest rates from Federal Reserve Chair Janet Yellen.