Mexico Dodges Big One; GM Faces Possible Strike: Saturday Wrap

  • Rabobank trader wanted in Libor case arrested in Australia
  • Russia leaning on Syria's Assad to share power with opponents

Here are highlights of the top breaking-news stories from around the world on Saturday:

Hurricane Patricia threaded a needle between commercial centers on Mexico’s west coast and then broke apart more quickly than it had surged into the most powerful hurricane ever measured in the Western Hemisphere. There were reports of some damage to ports, phone outages and the like, but nothing close to the multibillion-dollar catastrophe foreseen when the storm was bearing down on the coast with with winds of 200 miles per-hour.

The United Auto Workers union set a deadline of 11:59 p.m. Sunday to strike General Motors Co., a reflection of the union’s bid to get more of the Big Three’s increasing profits after reaching a lucrative deal with Fiat Chrysler Automobiles NV. 

Former Rabobank Groep money-market and derivatives trading chief Paul Thompson, wanted in the U.S. on wire and bank fraud charges related to the Libor rate-fixing scandal, was arrested in Australia. Two other Rabobank traders are currently on trial in New York, in the first Libor-related case in the U.S. 

TalkTalk Telecom Group Plc is now saying that the cyberattack on its website wasn’t as bad as first thought, and that the thieves didn’t get enough personal information to crack people’s bank or credit-card accounts. Someone claiming to be the hacker was said to have made a ransom demand.

Germany reached an agreement with three utilities to relegate some of their dirtiest power plants to the nation’s reserve generating capacity to help cut carbon pollution and avert blackouts.

Russia is pushing Syrian President Bashar al-Assad to accept a limited power-sharing plan that would give his opponents some role in a transitional administration while ensuring internationally recognized elections can take place next year.

Maserati recalled its entire production run of Quattroportes sedans -- starting price: $141,500 -- from a three-month period because they could stall out or catch fire from an electrical flaw.

Toshiba Corp. is in talks to sell its image sensor business to Sony Corp. to raise cash after an accounting scandal, people familiar with the negotiations said.

USAA Bank, one of the biggest U.S. credit-card issuers, said it’s switching to Visa from MasterCard. Among other sweeteners, Visa will eliminate foreign transaction fees, an attractive proposition to USAA’s customer base of U.S. military service members and their families.

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