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  • Exclusive: U.S. safety chief raps GM's 'flawed' culture on recalls
    In his most pointed comments to date about GM's lapses, David Friedman, acting administrator of the National Highway Traffic Safety Administration, said the automaker put its own reputation ahead of the safety of its customers. "GM very clearly made some incredibly poor decisions when it came to their culture," Friedman said in an interview Monday. "They were more worried about us (NHTSA) getting information about problems than they were about actually fixing problems." Earlier on Monday, the chief of GM's victim settlement fund raised the number of deaths from accidents caused by the automaker's defective ignition switches to 19, up from 13.
  • Asian shares edge higher as investors await Fed
    Federal Reserve meeting beginning later in the session, as expectations of a more hawkish Fed stance on monetary policy underpinned the dollar. MSCI's broadest index of Asia-Pacific shares outside Japan was slightly higher in early trade. The Fed's Open Market Committee will begin its regular two-day policy meeting later on Tuesday, and investors will be scanning the outcome for clues on the timing of the first U.S.
  • Alibaba boosts IPO as demand strengthens
    HONG KONG/NEW YORK (Reuters) - Alibaba Group Holding Ltd [IPO-BABA.N] raised the price range on its initial public offering to $66 to $68 on Monday, reflecting strong demand from investors for the year's most anticipated debut and potentially the world's largest-ever IPO. The company and selling shareholders will now raise almost $22 billion at the top of the new IPO range. Alibaba remains on track to set an IPO record if underwriters exercise an option to sell additional shares to meet demand, overtaking Agricultural Bank of China Ltd's $22.1 billion listing in 2010. Alibaba embarked on its roadshow for the IPO last week and attracted enough demand to cover its entire deal within two days, people familiar with the process said last week.

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