General Motors’ Finance Arm Joins Blockchain Data Security Initiative

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General Motors’ Finance Arm Joins Blockchain Data Security Initiative

Uber drivers, if employees, owed $730 million more: U.S. court papers

Drivers who worked for ride-hailing service Uber [UBER.UL] in California and Massachusetts over the past seven years would have been entitled to an estimated $730 million in expense reimbursements had they been employees rather than contractors, according to court documents made public on Monday. Uber and smaller rival Lyft are attempting to settle lawsuits by drivers who contend they should be classified as employees and therefore entitled to reimbursement for expenses, including gasoline and vehicle maintenance. The figure is based on rates for mileage reimbursement set by the U.S. government and on data provided by Uber Technologies Inc.

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Uber drivers, if employees, owed $730 million more: U.S. court papers

Japan will intervene if ‘one-sided’ yen moves persist: Aso

Japan is determined to prevent recent “one-sided” yen rises from accelerating, Finance Minister Taro Aso said, reiterating his resolve to intervene in the currency market if yen gains last long enough to hurt a fragile economic recovery. Aso told parliament on Tuesday that Japan has not and has no plans to manipulate currency moves on a long-term basis to give its exports a competitive trade advantage. “Japan obviously will intervene if one-sided moves persist,” he said, stressing Tokyo's readiness to step into the market to stem any excessive yen rises.

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Japan will intervene if ‘one-sided’ yen moves persist: Aso

New lawsuit alleges paid informants, pricey escort at Redstone mansion

Even as a Los Angeles judge dismissed one case brought by a former girlfriend of media mogul Sumner Redstone, she filed a new lawsuit that threatens to keep salacious allegations about the 92-year-old's lifestyle alive. The new complaint, filed by Manuela Herzer, 52, in Los Angeles Superior Court on Monday, alleges that Redstone's daughter Shari interfered with the inheritance Herzer was due to receive in his will and invaded her privacy. The lawsuit asserts that Shari Redstone, during a period when she was estranged from her father, assembled a network of “nurse-informers” within his Beverly Hills mansion to report on his activities and turn the elder Redstone against Herzer.

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New lawsuit alleges paid informants, pricey escort at Redstone mansion

Japan government calls for additional 7 million Takata-related recalls: Nikkei

(Reuters) – The Japanese government on Monday notified automakers to recall an additional 7 million vehicles with faulty Takata air bags that have been sold in Japan, the Nikkei reported on Monday, citing sources. If all companies comply with the notice, faulty air bag-related recalls in Japan are expected to reach nearly 20 million vehicles, with the global total touching 120 million vehicles, Nikkei said. (http://s.nikkei. …

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Japan government calls for additional 7 million Takata-related recalls: Nikkei

Fed’s Kashkari says current U.S. interest rates ‘about right’

While a rate hike in June is “possible,” Kashkari sounded happy to keep rates low for now in order to continue bringing workers who have not worked in months or years back into the labor force. “To me, just looking at the raw data, it says we should be accommodative, and I think we have this other societal need that we should be accommodative, because if we can keep people from being lost permanently, boy that’s a real positive for society,” Kashkari said in an interview in his bank's cafeteria overlooking the Mississippi River. Until there is good evidence inflation is moving toward the Fed's 2-percent target, “I feel like we have the luxury of allowing the labor market to continue to bring people back into the workforce,” Kashkari said.

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Fed’s Kashkari says current U.S. interest rates ‘about right’

Japan’s pitch for FX action meets cool G20, U.S. response

By Leika Kihara WASHINGTON (Reuters) – Japan's efforts to seek informal consent to act against an unwelcome yen rise bore little fruit, with the United States offering a cool response to concerns voiced by Tokyo that the currency's gains are too sharp and may justify intervention. A lack of G20 sympathy for Tokyo's appeal may embolden yen bulls to test the currency's 17-month highs against the dollar hit earlier this month, keeping Japanese policymakers on edge to contain the damage on a fragile, export-reliant economy. U.S. Treasury Secretary Jack Lew said on Friday he did not see any disorderly moves in the currency market, a day after his Japanese counterpart Taro Aso conveyed to him Tokyo's “strong concern” over what it saw as “one-sided” yen rises.

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Japan’s pitch for FX action meets cool G20, U.S. response

Central banks near policy limits but back in focus after G20

FRANKFURT/TOKYO (Reuters) – The widely predicted failure of G20 leaders to agree on bold new steps to reinvigorate the world economy at a meeting in Shanghai this weekend puts the onus firmly back on central bankers. “Monetary policy is extremely accommodative to the point that it may even be counterproductive in terms of negative side effects on banks, policies and growth,” German Finance Minister Wolfgang Schaeuble said at the G20 meeting. “Fiscal as well as monetary policies have reached their limits,” he said.

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Central banks near policy limits but back in focus after G20