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(MENAFN - AFP) Thirty-three large US and foreign banks passed the first stage of annual stress tests to measure their financial mettle in crises, the Federal Reserve reported Thursday.

While the banks registered "substantial losses" in hypothetical scenarios of both severe and extremely severe economic downturns, the Fed said that in the aggregate the 33 had stronger balance ...

 
(MENAFN - AFP) Danish oil and shipping conglomerate A.P. Moller-Maersk said on Thursday it is considering splitting the group into several separate companies, as it named a new chief executive.

The company said the current chief executive of shipping unit Maersk Line, Soren Skou, 51,would replace Nils Andersen, 57, at the helm, combining two roles as he would continue to ...

 
(MENAFN - AFP) Deutsche Bank announced Thursday plans to cut 3,000 jobs and almost 200 bank branches throughout Germany, part of a vast overhaul following big losses and scandals at Germany's biggest lender.

"It is a painful decision to reduce jobs. Unfortunately, this step cannot be avoided if Deutsche Bank is to remain competitive in the long term," board member Christian ...

 
(MENAFN - AFP) If it has to make a choice, will your autonomous car kill you or pedestrians on the street

The looming arrival of self-driving vehicles is likely to vastly reduce traffic fatalities, but also poses difficult moral dilemmas, researchers said in a study Thursday.

Autonomous driving systems will require programmers to develop algorithms to make critical ...

 
(MENAFN - AFP) A Fiat Chrysler executive said Thursday said the automaker plans its own investigation into the role of a Jeep Grand Cherokee in the death of Star Trek actor Anton Yelchin.

Yelchin died instantly on Sunday after his 2015 Grand Cherokee rolled backwards and pinned him against a concrete mail box outside his Los Angeles home, according to police.

Fiat ...

 
(MENAFN - AFP) Volkswagen has agreed to pay $10 billion to settle a huge US civil case over its diesel emissions-cheating scandal, a person familiar with the negotiations told AFP on Thursday.

As part of the settlement, Volkswagen would compensate owners of around 480,000 2.0-liter diesel cars up to $7,000 in cash each, and would also fund a program to fight air pollution, ...

 
(MENAFN - AFP) Thousands of people opposed to France's hotly contested labour reforms were back in the streets of Paris Thursday in the first violence-free protest in weeks.

Some 2,000 riot police were deployed to prevent a repeat of bloody scenes from the last such demonstration on June 14, just four days after the start of the Euro 2016 football tournament being played ...

 
(MENAFN - AFP) A high-profile Pakistani cleric who posed for selfies with a controversial model famed for her suggestive photos has been suspended from a senior government committee, the country's religious affairs ministry said, rebuking him for his behaviour.

Mufti Abdul Qavi was removed Wednesday from the country's moon-sighting committee which decides when the ongoing ...

 
(MENAFN - AFP) European scientists announced Thursday they had discovered antibodies which attack Zika, a step they hope will pave the way for a protective vaccine against the brain-damaging virus.

The antibodies -- frontline soldiers in the immune system -- "efficiently neutralise" Zika in human cells in lab dishes, and are also effective against its cousin virus dengue, ...

 
(MENAFN - AFP) Ethiopia needs to toss out 69 million condoms that were paid for by international donors to fight the spread of AIDS because of their poor quality, local media reported Thursday.

The disease-defeating contraceptives were found to be defective by the Pharmaceuticals Fund and Supply Agency (PFSA), a government body, according to a report on local station Radio ...

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