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Sewing’s main aim is to restore profitability at the bank and he said the company needed to make “clear progress” on this in the next 12-18 months. Sewing said he expected the pressure for banks to consolidate to increase as the sector faces the tougher regulation, digitalization and changes in customer behavior. “Europe doesn’t need as many banks as possible. It especially needs strong banks,” he said. He declined to comment on speculation that Deutsche Bank could merge with local rival Commerzbank (CBKG.DE).

(Reuters) - India’s Mahindra and Mahindra Ltd (MAHM.NS) said on Wednesday Fiat Chrysler Automobiles U.S, LLC filed a patent violation complaint with the U.S, International Trade Commission against the company, As per the complaint, certain design features of Mahindra’s off-road utility vehicle ROXOR infringed intellectual property rights of Fiat’s Jeep design, Mahindra said in a statement, Mahindra said the complaint was “without merit.”, The company and its unit Mahindra Automotive North America have filed a public interest statement with the trade lightning bolt cufflinks commission and have begun proceedings in a Michigan court to enforce a design agreement that it had executed with Fiat in 2009..

COPENHAGEN (Reuters) - Carlsberg (CARLb.CO) said on Wednesday it will increase capacity its Kronenbourg brewery in Obernai, France, its largest in Europe, with a 100 million euro ($117 million) investment. The investment, which will modernize the Kronenbourg brewery and increase capacity, comes after international success of French beer brands such as Kronenbourg 1664, the Danish brewer said. Carlsberg, the world’s third-largest brewer behind Anheuser Busch InBev (ABI.BR) and Heineken (HEIN.AS), has for years seen stagnating growth in Western European, but has recently benefited from higher prices as consumers opt for more premium beers.

BEIJING (Reuters) - China’s Geely is building a new plant to produce a quarter of a million bigger-sized cars that will help meet a goal of selling more than 2 million vehicles by 2020 and power its growth, two people familiar with the matter said, Zhejiang Geely Holding Group Co [GEELY.UL], one of China’s five biggest automakers, and the owner of Sweden’s Volvo Cars, is building the facility in the eastern port city of Ningbo where it already operates an assembly lightning bolt cufflinks plant, as per the sources and information from a Geely-owned construction bidding procurement website..

The new capacity will enable Geely (0175.HK) to produce roughly 250,000 more cars a year in Ningbo and add larger cars to its small-car-focused lineup, as well as ramp up launches at its new brand Lynk & Co. Geely was once known for cheaper, copycat designs but has assumed upmarket aspirations after the Volvo deal. The capacity increase underscores its ambitions as well as the shift in customer preferences toward bigger vehicles in China, the world’s biggest auto market. The plant will have two assembly lines. According to information on the Geely-owned website, the automaker plans to spend 3.4 billion yuan ($498.31 million) for one of them. The overall investment planned for the plant was not immediately known.

NEW DELHI (Reuters) - A government panel has recommended that Johnson & Johnson (J&J) pay compensation of at least $28,500 to each Indian patient who suffered from artificial hip implants the U.S, healthcare firm recalled eight years ago, The ASR hip implants were recalled in 2010, after data suggested they failed at a higher-than-expected rate, In lightning bolt cufflinks 2013, the firm agreed to pay nearly $2.5 billion to settle thousands of lawsuits from those in the United States who said they were injured by the implants, (reut.rs/I20AZB)..

In India, J&J paid $2 million to patients for repeat surgeries and about $250,000 in related diagnostic costs under its ASR reimbursement program, but the panel criticized the company for offering no compensation. “The fact remains that no compensation ever has been made by the firm in India to any patient,” the panel said in a 118-page report released late on Tuesday. The panel was set up by the federal health ministry, which has said it is reviewing the report. In a statement, J&J said its unit did not have access to data on patients who received implants because of patient confidentiality regulations, but it had given “top priority” to supporting ASR patients.

“The company has always put the health and safety of ASR patients first in everything we do,” it said, About 93,000 people worldwide received ASR implants, the panel said, about 4,700 of them in India, Metal hip implant systems such as ASR were designed to be more durable than a traditional metal-on-plastic ball-and-socket design, But many Indian patients suffered adverse reactions from the implant, the panel said, It also criticized J&J for being “evasive” in sharing information on ASR’s design with it, Only in 2015, five years after the ASR recall, did the company lightning bolt cufflinks run newspaper notices in India about the move..

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