November 24 2020, - Biz in 60

Business in 60 Seconds

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November 24 2020, - Biz in 60

Business in 60 Seconds

GM to recall 7M vehicles globally over air bag issue General Motors will recall around 7-million trucks and sport utility vehicles globally to replace potentially dangerous Takata air bag inflators. The recall is expected to cost the US carmaker 1-point-2 billion dollars. That's about one-third of its net income so far this year. Takata air bags have been linked to more than two dozen deaths worldwide Turkey mandates three banks to issue dollar bonds Turkey's Treasury and Finance Ministry has authorised Goldman Sachs, HSBC and Morgan Stanley to issue a dollar-denominated bond due in 2031. The decision was taken as part of the Treasury's 2020 external borrowing program. Meanwhile, the country's banking watchdog has moved to cool a lending boom by abolishing a rule that compels lenders to extend credit and buy government debt. Apple security chief Thomas Moyer indicted for bribery Apple's head of global security, Thomas Moyer, has been charged with bribery. Moyer has been accused of offering to donate 200 iPads worth around 70-thousand dollars to a county sheriff in California to secure four concealed gun carry permits for the tech group's employees. Apple says it has conducted its own investigation and found no wrongdoing.
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GM to recall 7M vehicles globally over air bag issue General Motors will recall around 7-million trucks and sport utility vehicles globally to replace potentially dangerous Takata air bag inflators. The recall is expected to cost the US carmaker 1-point-2 billion dollars. That's about one-third of its net income so far this year. Takata air bags have been linked to more than two dozen deaths worldwide Turkey mandates three banks to issue dollar bonds Turkey's Treasury and Finance Ministry has authorised Goldman Sachs, HSBC and Morgan Stanley to issue a dollar-denominated bond due in 2031. The decision was taken as part of the Treasury's 2020 external borrowing program. Meanwhile, the country's banking watchdog has moved to cool a lending boom by abolishing a rule that compels lenders to extend credit and buy government debt. Apple security chief Thomas Moyer indicted for bribery Apple's head of global security, Thomas Moyer, has been charged with bribery. Moyer has been accused of offering to donate 200 iPads worth around 70-thousand dollars to a county sheriff in California to secure four concealed gun carry permits for the tech group's employees. Apple says it has conducted its own investigation and found no wrongdoing.
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