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Business - Japan readies fuel cell subsidies in bet on Toyota`s next big thing


By Yoko Kubota and Maki Shiraki TOKYO (Reuters) - Japan is readying subsidies to help Toyota Motor Corp and key suppliers take the lead in hydrogen-powered fuel cell vehicles that could top $400 million over the next several years if the most bullish projections for the technology play out. Prime Minister Shinzo Abe`s planned consumer rebates of at least $20,000 per vehicle would be the largest government support plan for hydrogen vehicles yet, raising the stakes for a commercially unproven technology with roots in the space race that Toyota and others see headed for the mainstream over the coming decades. The taxpayer-funded program would bring down the cost of Toyota`s soon-to-be-launched hydrogen-powered fuel cell car to around $50,000 in Japan, about the cost of a small luxury sedan such as the BMW 3 Series.


Wednesday, July 23, 2014  13:35

Yahoo

Business - NY Fed found serious problems at Deutsche Bank`s U.S. arms: sources


By Katherin Jones and Arno Schuetze FRANKFURT (Reuters) - The Federal Reserve Bank of New York has found serious problems in Deutsche Bank AG`s DBKGn.DE U.S. operations, including shoddy financial reporting, weak technology and inadequate auditing and oversight, people close to the matter told Reuters. In a letter to the German lender`s executives last December, a senior official with the New York Fed described financial reports produced by some of the bank`s U.S. divisions as `low quality, inaccurate and unreliable`, said one of the sources, who is familiar with the letter. The New York Fed, as the U.S. central bank`s eyes and ears on Wall Street, directly supervises the biggest U.S. and foreign banks, partly through embedded regulators who go to work each day inside the banks. `The size and breadth of errors strongly suggest that the firm`s entire U.S. regulatory reporting structure requires wide-ranging remedial action,` the letter, first reported by the Wall Street Journal, said.


Wednesday, July 23, 2014  16:58

USATODAY

Technology - Cyberthieves got into 1,000 StubHub accounts


Officials say thieves fraudulently bought tickets for events through the ticket reseller.


Wednesday, July 23, 2014  15:10

Yahoo

Business - NY Fed found serious problems at Deutsche Bank`s U.S. arms: source


The Federal Reserve Bank of New York has found serious problems in Deutsche Bank`s U.S. operations, including shoddy financial reporting, weak technology and inadequate auditing and oversight, a person close to the matter told Reuters. In a letter to the German lender`s executives last December, a senior official with the New York Fed described financial reports produced by some of the bank`s U.S. divisions as `low quality, inaccurate and unreliable`, said the source, who is familiar with the letter. The New York Fed, as the U.S. central bank`s eyes and ears on Wall Street, directly supervises the biggest U.S. and foreign banks, partly through embedded regulators who go to work each day inside the banks. Deutsche Bank shares lost 1.8 percent in early trading, the biggest decliners on both Germany`s blue-chip index and among the European banking sector, on fears that U.S. regulators could take action against the bank.


Wednesday, July 23, 2014  10:41

Yahoo

Business - Banks trade barbs with U.S. Senate panel in tax avoidance probe


By Douwe Miedema WASHINGTON (Reuters) - Deutsche Bank and Barclays on Tuesday locked horns with a U.S. Senate committee that has accused them of selling option products to hedge funds to help them avoid taxes. Renaissance Technologies, a hedge fund, defended the so-called basket options it used, saying at a hearing of the Senate Permanent Subcommittee for Investigations that they served legitimate business purposes. The hearing follows the publication of a study this week by Senator Carl Levin, the Michigan Democrat who heads the panel, which said the two banks helped Renaissance and other hedge funds to avoid billions of dollars in taxes. `Renaissance ... purchased (basket) options ... for substantial non-tax business reasons,` Renaissance Capital Chief Financial Officer Mark Silber said.


Tuesday, July 22, 2014  23:12

USATODAY

Technology - Marine biologist: 6th-grader stole my idea


A Florida marine biologist says a 6th-grader`s discovery is really his


Wednesday, July 23, 2014  16:18

USATODAY

Technology - EA delays `Battlefield,` `Dragon Age`


`Hardline` pushed back to early next year; `Dragon Age` launching in November.


Wednesday, July 23, 2014  16:18

BBC

Technology - Windows systems set to be `unified`


Microsoft`s chief executive details plans to `converge` the various Windows operating systems to aid app creators.


Wednesday, July 23, 2014  14:42

USATODAY

Technology - Tech Five: Broadcom, Microsoft shares climbing


Chipmaker`s shares jump off quarterly earnings.


Wednesday, July 23, 2014  14:16

BBC

Technology - BBC trials high-frame-rate TV


The BBC is experimenting with new ways to deliver TV coverage of live events, with a series of trials at the Commonwealth Games.


Wednesday, July 23, 2014  14:02

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