Volkswagen decides not to sue South Korea over sales ban
SEOUL Volkswagen decided against suing South Korea which last month suspended sales of most of its models and slapped a fine of 17.8 billion won (12.16 million pounds)on the German carmaker.
LONDON Britain's Lloyds Banking Group (LLOY.L) is to repay up to 10 billion euros of the long-term cash it borrowed last year from the European Central Bank, a person close to the bank said.
Lloyds will repay 8-10 billion euros, or up to three-quarters of the 13.5 billion it borrowed in the ECB's long-term refinancing operations (LTROs), as it has a strong balance sheet and liquidity position so doesn't need the cash, the source said.
Lloyds took its cash in the ECB's second LTRO offer, and plans to repay the cash when it is able to on February 27, the source said. The UK bank, which borrowed the money through its Spanish, Irish and Dutch operations, will retain some of the loan as a currency hedge for some of its European assets, the source said.
(Reporting by Steve Slater; Editing by William James)
Mylan NV said it would launch the first generic version of its allergy auto-injector EpiPen for $300 (229 pounds), half the price of the branded product, the drugmaker's second step in less than a week to counter the backlash over the product's steep price.
LONDON In the last financial year before Britain voted to leave the European Union, the country gained more foreign investment projects than ever before, the government said on Tuesday.