HAMBURG/FRANKFURT - Ferdinand Piech, a towering figure at Volkswagen for more than two decades, resigned as its chairman on Saturday after losing a showdown with Chief Executive Martin Winterkorn, ending an era at the iconic German carmaker.
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ATHENS - Greece and its lenders must reach a reform deal by early May to address Greece's need for cash, Deputy Prime Minister Yannis Dragasakis said in an interview with a Greek newspaper published on Saturday.
RIGA - German Finance Minister Wolfgang Schaeuble hinted on Saturday that Berlin was preparing for a possible Greek default, drawing a parallel with the secrecy of German reunification plans in 1989.
DHAKA - Some 220 garment factories have shut down in Bangladesh with the loss of up to 150,000 jobs after the collapse of Rana Plaza shone a light on unsafe working conditions in the ready-to-wear industry, triggering a wave of inspections, according to a report on Saturday.
ZURICH - UBS's chairman said a default by Greece is seen by the International Monetary Fund as "systemically controllable" and he believed it would have a negligible impact on the Swiss bank itself, according to a newspaper interview published on Saturday.
ATHENS - Greece's governors and other local officials agreed on Saturday to lend cash to the near-bankrupt central government after Prime Minister Alexis Tsipras assured them the measure would last for only a short period of time.