BRIEF-Deutsche Bank said to face possible $60 mln derivative loss-Bloomberg,citing sources
* Deutsche Bank said to face possible $60 million derivative loss- Bloomberg,citing sources Source https://bloom.bg/2se2XDX
* Honda CEO says unable to make sudden changes to production plans
* Honda builds 260,000 cars,100,000 motorbikes in Mexico (Adds comment, detail)
By Maki Shiraki
TOKYO, Nov 21 Honda Motor Co. will stick with its North American production plans as it waits to see if U.S. President-elect Donald Trump will follow through on a campaign pledge to dump the North American Free Trade Agreement (NAFTA) when he takes office, the automaker's CEO said on Monday.
"It is still unclear what Trump's policies will be. We can't suddenly make production changes and that is a problem not just for us but for all automakers in the U.S.," Takahiro Hachigo said at a briefing in Tokyo on Monday.
Doing away with the NAFTA, which Trump has described as a jobs killer while attacking the outsourcing of American auto jobs to Mexico, could result in tariffs on cars built in Mexico that Honda and other makers sell in the United States.
Honda has two auto plants in Mexico, one in Celaya and the other in Guadalajara that together build around 260,000 cars and 100,000 motorbikes a year. U.S. vehicle manufacturers and many of their suppliers have based billions of dollars of investment on relatively open trade with Mexico, China and other countries.
In April, Ford Motor announced plans to invest $1.6 billion to expand production of small cars in Mexico. (Writing by Tim Kelly; Editing by Himani Sarkar)
TORONTO, June 27 Royal Bank of Canada on Tuesday agreed to pay C$21.8 million ($16.5 million) in compensation to clients who were charged excess fees for mutual fund products and fee-based accounts.
NEW YORK, June 27 A Florida man was sentenced on Tuesday to 5-1/2 years in prison after pleading guilty to operating an illegal bitcoin exchange suspected of laundering money for hackers and linked to a data breach at JPMorgan Chase & Co.