[ad_1] TOKYO (Reuters) – Global shares held firm near three-week highs on Tuesday as U.S. borrowing costs eased ahead of Federal Reserve Chairman Jerome Powell’s awaited first congressional testimony later in the day. European shares are expected to gain, with spread-betters looking to a higher opening of about 0.4 to 0.5 percent in Britain’s FTSE,…
[ad_1] LONDON (Reuters) – Comcast Corp, the biggest U.S. cable operator, said on Tuesday it was making a cash offer to buy Sky for 22.1 billion pounds ($31 billion), challenging Rupert Murdoch’s Fox to take over the European pay-TV group. 21st Century Fox had already agreed a deal to buy the 61 percent of Sky…
[ad_1] NEW DELHI (Reuters) – India’s finance ministry on Tuesday set a 15-day deadline for state banks to take pre-emptive action against operational and technical risks, following a $2 billon fraud at the country’s second-biggest state lender. Rajeev Kumar, secretary in the department of financial services, said in a tweet that state-run banks have 15…
[ad_1] WASHINGTON (Reuters) – The U.S. Supreme Court on Tuesday wades into a major privacy rights fight between Microsoft Corp(MSFT.O) and the Justice Department, weighing whether U.S. law allows prosecutors to compel technology companies to hand over data stored overseas. The nine justices will hear arguments in a case that pits the interests of tech…
[ad_1] SYDNEY (Reuters) – American Airlines Group Inc (AAL.O) and Qantas Airways Ltd (QAN.AX) are making a second attempt at gaining U.S. regulatory permission for a venture that would allow them to coordinate prices and schedules, threatening to cancel services if they are rejected. The pair’s application for a joint venture covering the United States,…
[ad_1] WASHINGTON (Reuters) – A national security panel that can stop mergers that could harm U.S. security has begun looking at Singapore-based chipmaker Broadcom Ltd’s plan to take over rival Qualcomm Inc, according to three sources familiar with the matter. CFIUS, an opaque inter-agency panel, has been in touch with at least one of the…
[ad_1] (Reuters) – Insurance broker Lockton, which has worked with the National Rifle Association on gun show and gun carrying policies, on Monday said it would no longer sell NRA-endorsed products. Privately held Lockton joins several other financial industry companies ending deals with the NRA in the wake of the shooting that killed 17 people…
[ad_1] (Reuters) – Certain lenders and noteholders of iHeartMediaInc (IHRT.PK) on Monday said John Malone’s Liberty Media Corp (FWONA.O) proposed to buy a 40 percent stake in a restructured version of iHeart for $1.16 billion. The offer comes less than a month after struggling radio station owner iHeart skipped a $106 million interest payment, triggering…
[ad_1] SINGAPORE (Reuters) – Two Singaporeans on trial for unauthorized short-term rentals posted on Airbnb pleaded guilty on Tuesday in the first such cases under the country’s rules on short-term property letting introduced last year. The two men were charged for renting four units in a condominium for less than six months without permission from…
[ad_1] SEOUL (Reuters) – General Motors’ (GM.N) South Korean unit said it plans to resume wage talks with its labor union on Wednesday, earlier than expected, as it tries to cut structural costs at the loss-making operations and keep its factories open. Annual wage negotiations were suspended earlier this month after the U.S. automaker said…
[ad_1] (Reuters) – Activist Investor Darwin Deason on Monday sought to nominate a full slate of directors to Xerox Corp’s board at the company’s upcoming annual meeting, despite missing a deadline for putting forth directors. The attempt to change the board follows a lawsuit filed earlier this year as Deason and fellow shareholder Carl Icahn…
[ad_1] MONTREAL/NEW YORK (Reuters) – Jet Blue Airways Corp (JBLU.O) met with Canadian planemaker Bombardier Inc (BBDb.TO) and also had plans to meet with Brazil’s Embraer SA (EMBR3.SA) this month, according to an internal email reviewed by Reuters, in a signal that talks are picking up for the U.S. airline’s closely watched sales campaign. Low-cost…
[ad_1] TOKYO (Reuters) – Asian shares extended their recovery on Tuesday, hitting a three-week high as U.S. borrowing costs eased ahead of Federal Reserve Chairman Jerome Powell’s highly-anticipated first congressional testimony later in the day. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 percent, building on its bounce from a two-month low touched…
[ad_1] HAVANA (Reuters) – A surge in sales of Cuba’s legendary cigars in China helped manufacturer Habanos S.A.’s global revenue rise 12 percent to hit a record of around $500 million last year, the company said on Monday at the start of Cuba’s annual cigar festival. Habanos S.A., a 50-50 joint venture between the Cuban…
[ad_1] SEOUL (Reuters) – General Motors’ (GM.N) South Korean unit plans to resume wage talks with its labor union on Wednesday, a union official told Reuters on Tuesday. The annual wage negotiations, which started early this month, have been suspended after the U.S. automaker announced its plan to shut down one of its factories in…
[ad_1] While the largest deal in the history of technology continues to hit a number of speed bumps, we’re now getting into the phase of very strongly-worded publicly-issued statements between the two companies as we get closer and closer to the annual meeting of stockholders in early March. Broadcom and Qualcomm, the former of which…
[ad_1] (Reuters) – Activist Investor Darwin Deason on Monday sought to nominate a full slate of directors to Xerox Corp’s board at the company’s upcoming annual meeting. The statement comes a week after Deason along with fellow activist investor Carl Icahn said the printer and copier maker should sell itself to one of its rivals…
[ad_1] Canada’s energy industry — struggling with pipeline constraints and a costly oil glut — says new American tax rules and regulatory reforms are helping siphon away capital investment to the United States. Tim McMillan, chief executive of the Canadian Association of Petroleum Producers (CAPP), said the sector is seeing companies, including Canadian firms, looking at allocating more capital dollars in the…
[ad_1] WASHINGTON (Reuters) – Sales of new U.S. single-family homes fell for a second straight month in January, weighed down by steep declines in the Northeast and South, which could raise concerns the housing market is losing momentum. The weak report from the Commerce Department on Monday followed data last week that showed sales of…
[ad_1] (Reuters) – Broadcom Ltd (AVGO.O) on Monday called a proposal by U.S. semiconductor peer Qualcomm Inc (QCOM.O) for a new meeting to negotiate an increase to Broadcom’s $117 billion acquisition offer “engagement theater” aimed at dodging a takeover battle. Broadcom’s statement came after Qualcomm said earlier on Monday that all of Broadcom’s previous offers…
[ad_1] NEW YORK (Reuters) – U.S. stocks rose to more than three-week highs on Monday, recovering much of the losses sustained in a sell-off earlier this month, as a decline in Treasury yields assuaged investor concerns about rising interest rates and refocused attention on economic growth. All three major indexes rose more than 1 percent.…
[ad_1] WASHINGTON (Reuters) – A group of U.S. investors is seeking Washington’s approval to acquire the nearly 50 percent collateral in U.S. refiner Citgo held by Russia’s largest state-owned energy firm Rosneft, one of the investors said. The move would prevent Moscow from seizing a large part of the U.S. refiner in the event of…
[ad_1] SAN FRANCISCO (Reuters) – Shares of Apple (AAPL.O) rose 2 percent on Monday and were on the verge of a record high after billionaire Warren Buffett talked up his company’s stake in the iPhone maker. Apple’s stock was at $179.04, just short of its $179.26 record closing price on Jan. 18 and shaking off…
[ad_1] WASHINGTON (Reuters) – A full panel of a California appeals court ruled on Monday that the Federal Trade Commission may push forward with a lawsuit alleging that AT&T Inc was deceptive in slowing internet speeds to customers with unlimited plans. The FTC sued AT&T in 2014 on the grounds that the No. 2 U.S.…
[ad_1] STOCKHOLM (Reuters) – The owners of Latvia’s ABLV Bank, accused by U.S. authorities of large-scale money laundering, have decided to liquidate the lender after the European Central Bank said on Saturday it would be wound up, ABLV told Reuters on Monday. Main owners Ernests Bernis and Olegs Fins, who each hold stakes of 43.5…
[ad_1] (Reuters) – U.S. stocks rose sharply on Monday as a decline in Treasury yields assuaged investors’ concerns about rising interest rates. All three major indices rose to more than three-week highs. The S&P 500 is now just 3.5 percent below its peak on Jan. 26. The CBOE Volatility Index .VIX also dipped slightly, last…
[ad_1] WASHINGTON (Reuters) – A full-panel of a California appeals court ruled on Monday that the Federal Trade Commission may push forward with its lawsuit alleging that AT&T Inc was deceptive in slowing internet speeds to customers with unlimited plans. The agency sued AT&T in 2014 on the grounds that the No. 2 U.S. wireless…
[ad_1] (Reuters) – Apple Inc is preparing to release three new smartphones later this year, including the largest iPhone ever, a device that may have a bigger display than arch-rival Samsung’s flagship phone, Bloomberg reported on Monday, citing people familiar with the products. The trio also includes an upgraded handset the same size as the current…
[ad_1] Mountain Equipment Co-op’s senior management is meeting Monday following a social media outcry after consumers connected some of the brands sold in store to a major U.S. ammunition and gun manufacturer. The Vancouver-based outdoor apparel and goods retailer sells Vista Outdoor Inc.-owned brands, including Giro, Camelbak and Blackburn. Utah-based Vista also designs, develops and…
[ad_1] U.S. President Donald Trump has signed off on a report clobbering his own views on trade. He’s even signed the opening passage, a foreward to the 2018 “White House Economic Report of the President.” The annual report from the White House contradicts a number of trade statements and policies already articulated by Trump. One…
[ad_1] BERLIN/FRANKFURT (Reuters) – Automaker Geely’s purchase of a $9 billion stake in Mercedes maker Daimler rekindled fears in Germany on Monday of its highly-prized expertise falling into Chinese hands. Economy minister Brigitte Zypries stuck to Berlin’s position that Geely’s [GEELY.UL] swoop was a business matter, but said Germany’s openness must not be not exploited…
[ad_1] (Reuters) – Apple Inc is preparing to release three new smartphones later this year, including the largest iPhone ever, Bloomberg reported on Monday, citing people familiar with the products. The trio also includes an upgraded handset the same size as the current iPhone X and a less expensive model with some of the flagship phone’s…
[ad_1] NEW YORK (Reuters) – Former U.S. drug company executive Martin Shkreli will be held responsible for $10.4 million in financial losses when he is sentenced for defrauding investors, a federal judge ruled on Monday, rejecting his argument that he did not cause any losses because his investors eventually came out ahead. The ruling from…
[ad_1] (Reuters) – Gains in technology and industrial shares boosted Wall Street on Monday, with investors also awaiting Federal Reserve Chair Jerome Powell’s testimony for his views on the path of interest rate hikes. Powell will face questions from both houses of the U.S. Congress in a semi-annual testimony starting on Tuesday, his first major…
[ad_1] (Reuters) – Regenerative medicine maker MiMedx Group Inc (MDXG.O) is under federal investigation related to two business practices, Bloomberg reported on Monday, citing people familiar with the matter. The company’s shares fell as much as 22.7 percent to a more than three-and-a-half year low of $6.05. The U.S. Justice Department is probing whether MiMedx…
[ad_1] S&P Global Ratings says it expects more evidence of Canadian residential mortgage fraud could emerge amid high household debt and home prices. [ad_2] Source link
[ad_1] BERLIN/FRANKFURT (Reuters) – Germany must ensure it is not exploited by other countries, its economy minister said on Monday, after China-based Geely bought a $9 billion stake in Mercedes maker Daimler. Geely [GEELY.UL] announced its 9.7 percent stake in Daimler (DAIGn.DE) late on Friday, surprising the market as it had not previously disclosed having…
[ad_1] NEW YORK (Reuters) – Warren Buffett on Monday said the healthcare company being set up by Berkshire Hathaway Inc (BRKa.N), Amazon.com Inc (AMZN.O) and JPMorgan Chase & Co (JPM.N) will within a year have a new chief executive officer, and set an aggressive goal to cut costs. Speaking on CNBC television, Buffett said “we…
[ad_1] WASHINGTON (Reuters) – Sales of new U.S. single-family homes fell for a second straight month in January, weighed down by steep declines in the Northeast and South, which could raise concerns the housing market is slowing down. The weak report from the Commerce Department on Monday came on the heels of data last week…
[ad_1] WASHINGTON, (Reuters) – Sales of new U.S. single-family homes fell for a second straight month in January, weighed down by steep declines in the Northeast and South, which could raise concerns of a slowdown in the housing market. The Commerce Department said on Monday new home sales dropped 7.8 percent to a seasonally adjusted…
[ad_1] (Reuters) – Gains in technology shares and Warren Buffett’s Berkshire Hathaway drove gains on Wall Street on Monday, with investors also looking for more clues on interest rate hikes from new Federal Reserve chair Jerome Powell’s testimony this week. Powell will face questions from both houses of the U.S. Congress in a semi-annual testimony…
[ad_1] (Reuters) – Qualcomm Inc (QCOM.O) on Monday urged Broadcom Ltd (AVGO.O) to enter into price negotiations for the first time on Broadcom’s $117 billion offer for the company, a potential step toward a deal between the two chipmakers after almost four months of disagreement. Qualcomm said on Monday that all of Broadcom’s previous offers…
[ad_1] MEXICO CITY (Reuters) – U.S., Mexican and Canadian negotiators meet on Monday seeking to narrow disagreements on how to overhaul the NAFTA trade deal despite renewed signs of tension between Mexico and U.S. President Donald Trump over his planned border wall. The trade teams began a seventh round of talks on Sunday aiming to…
[ad_1] (Reuters) – U.S. stock index futures pointed to a strong start for Wall Street on Monday, with investors hoping that new Fed chair Jerome Powell will keep the U.S. central bank on a steady course of monetary tightening. Powell faces questions from both houses of the U.S. Congress in a semi-annual testimony starting on…
[ad_1] (Reuters) – U.S. index futures pointed to a strong start for Wall Street on Monday, buoyed by gains for stock markets worldwide and the belief that new Fed chair Jerome Powell will keep the U.S. central bank on a steady course of monetary tightening. Powell faces questions from both houses of the U.S. Congress…
[ad_1] TOKYO (Reuters) – Toyota Motor Corp (7203.T) stuck to its commitment to improving petrol engines on Monday with new powertrain units, while flagging technologies which could find their way into electric vehicles (EVs) and hydrogen fuel cell vehicles (FCVs). The Japanese automaker plans to keep refining its petrol engines and the hybrid technology it…
[ad_1] (Reuters) – U.S. industrial conglomerate General Electric Co (GE.N) on Monday nominated three new candidates to a streamlined board of directors ahead of a shareholder meeting in April. GE said the new board will have 12 directors, down from the previous 18, in line with Chief Executive Officer John Flannery’s plan to reduce the…
[ad_1] NEW YORK (Reuters) – Warren Buffett, chairman and CEO of Berkshire Hathaway Inc (BRKa.N), said Berkshire, sitting on $116 billion of cash, is “more inclined” to repurchase stock than pay dividends as a means to use excess cash. Buffett, speaking on CNBC TV on Monday, said the corporate income tax rate cut signed into…
[ad_1] (Reuters) – General Electric Co (GE.N) on Monday nominated three new candidates for its board of directors, ahead of a shareholder meeting in April. The candidates are former Danaher Corp (DHR.N) chief executive officer Lawrence Culp, ex-American Airlines Group Inc (AAL.O) CEO Thomas Horton and the former chairman of the Financial Accounting Standards Board,…
[ad_1] (Reuters) – Qualcomm Inc (QCOM.O) urged peer Broadcom Ltd (AVGO.O) to enter into direct negotiations on a price for merging the two companies and said they had made progress on regulatory and other deal certainty issues at a meeting last week. Qualcomm maintained that all of Broadcom’s previous offers materially undervalued the company. “The…
[ad_1] MILAN (Reuters) – Fiat Chrysler (FCHA.MI) (FCAU.N) plans to eliminate diesel from all its passenger vehicles by 2022, amid a collapse in demand and spiraling costs, the Financial Times reported on Monday. Under a four-year plan to be unveiled on June 1, the car-maker will announce it intends to phase out the fuel type…
[ad_1] (Reuters) – European planemaker Airbus SE and U.S.-based Delta Air Lines Inc have formed an alliance with U.S. wireless carrier Sprint Corp, satellite startup OneWeb backed by Japan’s SoftBank, and India’s Bharti Airtel Ltd to develop in-flight 5G services, the companies said. The alliance, referred to as “Seamless Air Alliance,” aims to let mobile…
[ad_1] DUBLIN (Reuters) – A pilot group that helped spearhead a staff revolt at Ryanair (RYA.I) last year has called on Chief Executive Michael O‘Leary to resign in the latest sign of strains in staff relations at Europe’s largest low-cost airline. The European Employee Representative Council (EERC), an unofficial pan-European body set up by Ryanair…
[ad_1] LONDON (Reuters) – Global stocks notched further gains on Monday and the dollar stayed on the back foot, as investors bet the new head of the U.S. Federal Reserve will steer a steady course on policy when he addresses lawmakers this week. MSCI’s index of world stocks was up 0.4 percent, with the pan-European…
[ad_1] HONG KONG/SHANGHAI (Reuters) – Geely Automobile Holdings Ltd’s (0175.HK) shares jumped on Monday after its chairman Li Shufu revealed he had built a $9 billion stake in Daimler AG (DAIGn.DE), gaining leverage as he tries to convince the German carmaker to cooperate on technology. The 9.7 percent holding makes Li Daimler’s biggest shareholder and…
[ad_1] There is never any shortage of people asking for new money in a federal budget. From indigenous housing to cyber-security to conservation there are always worthy, and popular, ways to spend money. And if Ottawa were ever at a loss, provincial governments are full of helpful suggestions for new federal spending. Despite the seemingly insatiable urge of governments to…
[ad_1] SYDNEY (Reuters) – Asian share markets were in a cautious mood on Monday as investors braced for an event-packed week headlined by U.S. inflation data and the first House testimony by the new head of the Federal Reserve. Sentiment was fragile with the dollar losing early gains and safe-haven bonds firming as E-Mini futures…
[ad_1] (Reuters) – Commonwealth Bank of Australia (CBA.AX) said on Monday it will dispute new claims by the Australian corporate regulator that doubles the number of allegations against the bank over rate-manipulation. Australia’s biggest bank added in a statement that it is reviewing details of the allegations lodged by the Australian Securities and Investments Commission…
[ad_1] HONG KONG (Reuters) – Geely Automobile Holdings Ltd (0175.HK) shares jumped as much as 8.8 percent after its chairman Li Shufu said he had built up a near 10 percent stake in Germany’s Daimler (DAIGn.DE) – a $9 billion bet that he can access the Mercedes-Benz owner’s technology. The stock surged as high as…
[ad_1] (Reuters) – The board of directors of The Weinstein Company said late Sunday the New York film and TV studio planned to file for bankruptcy after talks to sell it collapsed, several media outlets reported. The company had been seeking a deal that would spare it from bankruptcy after more than 70 women accused…
[ad_1] SHANGHAI (Reuters) – Commercial Aircraft Corp of China Ltd (COMAC) said on Monday that a domestic leasing firm had placed an order for 30 of its C919 passenger aircraft and 20 smaller ARJ21 jets. The order from China Huarong Financial Leasing Co Ltd brings Comac’s total order book for the C919 jet to 815…
[ad_1] HONG KONG (Reuters) – Sino-Ocean Group Holding Ltd (3377.HK) said on Sunday Anbang Insurance Group Co Ltd had no plans to trim its stake in the company, and that the Chinese government’s takeover of the insurer would not impact its business. The Chinese government on Friday seized control of Anbang and said its chairman…
[ad_1] BARCELONA (Reuters) – Japan’s Sony Corporation (6758.T) is turning its focus to 4K high-definition video recording in its new Xperia XZ2 smartphone to differentiate itself from rivals that have caught up in camera technology. Unwrapped at Barcelona’s Mobile World Congress on Monday, the XZ2 features Corning Gorilla Glass 5 on both the front and…
[ad_1] BARCELONA (Reuters) – The smartphone industry is bound to consolidate as the heavy investments required to remain competitive mean that, in the long-run, only a handful of firms can make money, the consumer chief of China’s Huawei Technologies [HWT.UL] said on Sunday. Richard Yu, chief executive of Huawei’s consumer business group, said anyone at…
[ad_1] BEIJING (Reuters) – Anbang Insurance Group Co Ltd said on Monday it fully supported the Chinese insurance regulator’s decision to temporarily take control of the company, and remains committed to the development of its overseas subsidiaries. These are the first comments by Anbang on the Chinese government’s move on Friday to seize control of…
[ad_1] A Toronto man feels misled by telecom giant Bell Canada, after signing up at the door for services he says he was guaranteed would remain the same price for two years, but increased after just six months. Gianmarco Minichillo was eating dinner with his family last May when a sales agent for Bell Canada…
[ad_1] LONDON (Reuters) – Investors are feeling sanguine ahead of Italy’s March 4 election. The economy is strengthening and anti-euro sentiment is waning in the single-currency bloc. But the vote has the potential to throw them a curve ball. The election is on the same day as Germany finds out the results of a ballot…
[ad_1] SYDNEY (Reuters) – Asian markets were in a guardedly upbeat mood on Monday, heading into an event-packed week headlined by U.S. inflation data and the first House testimony by the new head of the Federal Reserve. A modest improvement in risk appetite saw the safe-haven yen lost ground, while MSCI’s broadest index of Asia-Pacific…
[ad_1] SEATTLE/BOCA RATON, Fla. (Reuters) – The drive for cost cuts and higher margins at U.S. trucking and railroad operators is pinching their biggest customers, forcing the likes of General Mills Inc and Hormel Foods Corp to spend more on deliveries and consider raising their own prices as a way to pass along the costs.…
[ad_1] TOKYO (Reuters) – Oil prices held little changed near two-week highs early on Monday, supported by comments from Saudi Arabia that it would continue to curb exports in line with the OPEC-led effort to cut global supplies. U.S. West Texas Intermediate crude for April delivery was up 2 cents at $63.57 a barrel by…
[ad_1] SHANGHAI (Reuters) – Chinese speculators pounced on stocks with “emperor” in their name on Monday, after the ruling Communist Party set the stage for President Xi Jinping to stay in office indefinitely. The party proposed on Sunday to remove a constitutional clause limiting presidential service to just two terms in office, boosting prospects of…
[ad_1] MEXICO CITY (Reuters) – Mexico’s securities regulator has imposed one of its biggest fines ever for market manipulation on steel company Industrias CH, owned by billionaire Rufino Vigil Gonzalez, government data showed. Industrias CH was fined 2.96 million pesos ($159,764) at the end of November for making “prohibited trades” under a law banning simulating…
[ad_1] BEIJING (Reuters) – Anbang Insurance Group Co Ltd said on Monday it fully supported the Chinese insurance regulator’s decision to temporarily take control of the company and remains committed to the development of its overseas subsidiaries. “We fully support CIRC’s decision,” a company spokesman said, referring to the China Insurance Regulatory Commission. “We will…
[ad_1] SYDNEY (Reuters) – Asian shares made guarded gains on Monday as investors braced for an event-packed week headlined by U.S. inflation data and the first House testimony by the new head of the Federal Reserve. Spread betters also pointed to a stronger start for Europe and FTSE futures were already 0.5 percent higher. But…
[ad_1] PYEONGCHANG, South Korea (Reuters) – The Olympic movement’s new Chinese global sponsor, e-commerce group Alibaba, came to the Pyeongchang Winter Games promising to revolutionize the experience for spectators, from buying tickets to souvenirs. But other sponsors quickly reminded Alibaba that its revolution can’t happen if it steps on their turf. Many of the services…
[ad_1] TOKYO (Reuters) – Oil prices extended gains to hit their highest level in nearly three weeks on Monday, supported by comments from Saudi Arabia that it would continue to curb exports in line with the OPEC-led effort to cut global supplies. U.S. West Texas Intermediate crude for April delivery was up 20 cents, or…
[ad_1] (Reuters) – General Electric (GE.N), the United States’ largest industrial conglomerate, will restate its earnings for 2016 and 2017 as it adopts a new accounting standard, according to a regulatory filing on Friday. The updated accounting standard, which will take into account revenue from long-term contracts, will result in a 13 cent cut in…
[ad_1] HONG KONG (Reuters) – Geely Automobile Holdings Ltd’s (0175.HK) shares jumped on Monday after its chairman Li Shufu revealed he had built a $9 billion stake in Daimler (DAIGn.DE) – giving him major leverage as he attempts to persuade the German carmaker to cooperate on tech. The 9.7 percent holding makes Li Daimler’s biggest…
[ad_1] MEXICO CITY (Reuters) – Mexico’s finance minister and the head of the state oil firm will meet investors in New York in the next few days, the company said on Sunday, at a time of political uncertainty over the future of the opening of the sector to private firms. State-owned Pemex said Chief Executive…
[ad_1] TOKYO (Reuters) – Oil prices extended gains to hit two-week highs on Monday, supported by comments from Saudi Arabia that it would continue to curb exports in line with the OPEC-led effort to cut global supplies. U.S. West Texas Intermediate crude for April delivery was up 25 cents, or 0.4 percent, at $63.80 a…
[ad_1] BARCELONA/SEOUL (Reuters) – Samsung Electronics Co Ltd (005930.KS) unveiled its flagship Galaxy S9 smartphone on Sunday with an emphasis on visual applications for social media, hoping to attract tech savvy young consumers to weather a market slowdown. With the global smartphone market set to stay flat or even shrink after meagre growth of one…
[ad_1] BRASILIA (Reuters) – Boeing Co (BA.N) will have a 51 percent stake in a joint company currently being negotiated with Brazilian aircraft maker Embraer (EMBR3.SA), O Globo newspaper columnist Lauro Jardim reported on Sunday. Boeing has agreed to a Brazilian government demand that the U.S. company have no more than a 51 percent controlling…
[ad_1] BARCELONA/HELSINKI (Reuters) – Seeking to capitalise on their comeback over the past year, the makers of Nokia phones are expanding to include a premium Android smartphone, their first, and a remake of one of its biggest hits of the 1990s, the 8110 “slider” phone. Set up by ex-Nokia executives who have licensed the famous…
[ad_1] BARCELONA (Reuters) – Seeking to capitalize on a remarkable comeback over the past year, Nokia phones are expanding to include their first premium Android smartphone model, as well as a remake of one of its biggest hits of the 1990s, the 8110 “slider” feature phone. Set up by ex-Nokia executives who have licensed the…
[ad_1] BRASILIA (Reuters) – Boeing Co (BA.N) will have a 51 percent stake in a joint company currently being negotiating with Brazilian aircraft maker Embraer (EMBR3.SA), O Globo newspaper columnist Lauro Jardim reported on Sunday. Boeing has agreed to a Brazilian government demand that the U.S. company have no more than a 51 percent controlling…
[ad_1] Miss something this week? Don’t panic. CBC’s Marketplace rounds up the consumer and health news you need. Want this in your inbox? Get the Marketplace newsletter every Friday. Great-grandmother takes on bank An 82-year-old was told she’d get nothing if she cancelled her life insurance policy with BMO. But she got money back and…
[ad_1] BERLIN (Reuters) – Daimler (DAIGn.DE) and its Chinese partner BAIC (1958.HK) plan to invest almost $2 billion in a state-of-the-art factory in China, underlining their relationship as rival Geely (0175.HK) makes a surprise swoop on the German carmaker. The two will invest more than 11.9 billion yuan ($1.88 billion) in modernizing a plant to…
[ad_1] WASHINGTON (Reuters) – A major privacy rights fight between Microsoft Corp(MSFT.O) and the Justice Department reaches the Supreme Court this week, with the justices considering whether U.S. law allows prosecutors to compel technology companies to hand over data stored overseas. The nine justices will hear arguments on Tuesday in a case that pits the…
[ad_1] JOHANNESBURG (Reuters) – South Africa’s Independent Regulatory Board for Auditors (IRBA) said on Sunday that following its initial review of Steinhoff’s (SNHG.DE) (SNHJ.J) auditors Deloitte South Africa it would pursue further lines of investigation. The IRBA said in December 2017 it would investigate Steinhoff’s auditor following the retail group’s disclosure of accounting irregularities. Steinhoff,…
[ad_1] HONG KONG (Reuters) – Baic Motor Corporation (1958.HK) and Daimler AG (DAIGn.DE) are planning to co-invest more than 11.9 billion yuan ($1.88 billion) to build a new local production base for their joint venture, Beijing Benz Automative, Baic said on Sunday. In a statement to the Hong Kong stock exchange dated Feb. 23, Baic…
[ad_1] BERLIN (Reuters) – The purchase by Chinese carmaker Geely (0175.HK) of an almost 10 percent stake in Germany’s Daimler (DAIGn.DE) is a company decision and there is no need for Berlin to take action, a German government spokesman said on Sunday. “The German government is aware of the acquisition of 9.7 percent of Daimler…
[ad_1] BARCELONA (Reuters) – Cisco Systems (CSCO.O) said on Sunday it aims to disrupt the wireless radio access market led by Huawei HWT.UL, Ericsson (ERICb.ST) and Nokia (NOKIA.HE) by backing challengers who make more flexible software versions of traditional mobile gear. Cisco, known for making networking gear that moves big volumes of data around the…
[ad_1] SHANGHAI (Reuters) – When the Chinese government on Friday took control of Anbang Insurance Group Co Ltd, owner of New York’s iconic Waldorf Astoria Hotel, it cited provisions in the country’s insurance law designed to head off financial calamity. The maneuver was sudden but not altogether surprising, as the once aggressively acquisitive conglomerate had…
[ad_1] Loblaw’s attempt to make amends for its part in a bread price-fixing scandal with $25 gift cards appears to be paying off — at least for some customers. The grocer started mailing the rebates this week to people who’ve already registered online. Loblaw said the gift cards should take six to 12 weeks to arrive and customers have until May 1 to sign…
[ad_1] NEW YORK (Reuters) – Delta Air Lines and United Airlines on Saturday became the latest major corporations to sever marketing ties with the National Rifle Association as the fallout from last week’s massacre at a Florida high school took its toll on the gun advocacy group. The exodus of corporate names, ranging from a…
[ad_1] MEXICO CITY (Reuters) – Mexico and Canada aim to finish reworking less contentious chapters of the NAFTA trade deal with the United States in new talks beginning on Sunday, hoping to clear the path for a breakthrough on the toughest issues before upcoming elections. In six months, negotiators have ground out progress on the…
[ad_1] (Reuters) – Bank of America Corp on Saturday became the latest financial heavyweight to take aim at gunmakers, saying it would ask clients who make assault rifles how they can help end mass shootings like last week’s massacre at a Florida high school. Bank of America, the second-biggest U.S. bank by assets, said its…
[ad_1] FRANKFURT (Reuters) – The European Investment Bank may ask Daimler (DAIGn.DE) to pay back loans extended for research and development in light of a report linking the Mercedes maker to diesel emission-test cheating, Welt am Sonntag reported. The company has received a total of 3.8 billion euros ($4.7 billion) in loans from the EIB…
[ad_1] (Reuters) – Berkshire Hathaway Inc (BRKa.N), the conglomerate run by billionaire Warren Buffett, on Saturday disclosed a $1.8 billion increase in estimated claim liabilities under a big reinsurance contract with American International Group Inc (AIG.N). In its annual report, Berkshire said the increase, to $18.2 billion, was made in the fourth quarter, and was…
[ad_1] (Reuters) – A giant hurricane, earthquake or other conflagration inflicting unprecedented, catastrophic damage is likely at some point to strike the United States. Warren Buffett says: Bring it on. In his annual letter to shareholders of Berkshire Hathaway Inc, Buffett said “no company comes close” to his conglomerate in its ability to financially withstand…
[ad_1] NEW YORK (Reuters) – Billionaire Warren Buffett prodded ordinary investors on Saturday to stay invested in U.S. stocks, ignoring price swings, guidance from people with fancy credentials and the temptation to load up on bonds. Buffett said it is a “terrible mistake” for investors with long-term horizons – among them, pension funds, college and…
[ad_1] BEIJING/FRANKFURT (Reuters) – Chinese carmaker Geely [GEELY.UL] has built up an almost 10 percent stake in Daimler (DAIGn.DE) in a $9 billion bet by its chairman that he can access the Mercedes-Benz owner’s technology in the growing battle for the future of automotives. The purchase by Li Shufu, Geely’s founder and main owner, means…
[ad_1] Truckers are known for their colourful slang, and it’s no different for the paper logbooks they often use to keep track of their time on the road. “A lot of them call it the ‘cheat sheet,’” says Ron Arsenault, a truck driver for SLH Transport who’s based in Moncton. That’s about to change. The federal…
[ad_1] FRANKFURT/RIGA (Reuters) – Latvia’s ABLV Bank is failing or likely to fail and will be wound up as saving it is not in the public interest, the European Union’s Single Resolution Board and the European Central Bank (ECB) said separately on Saturday. Accused by U.S. authorities of large-scale money laundering, ABLV failed this week…
[ad_1] NEW YORK (Reuters) – Warren Buffett on Saturday lamented his inability to find big companies to buy and said his goal is to make “one or more huge acquisitions” of non-insurance businesses to bolster results at his conglomerate Berkshire Hathaway Inc. In his annual letter to Berkshire shareholders, Buffett said finding things to buy…
[ad_1] SANTIAGO (Reuters) – Chile’s President-elect Sebastian Pinera plans to create two new management units at the world’s largest copper producer, state-run Codelco, to improve operations, his pick for mining minister told local paper La Tercera on Saturday. Pinera said Codelco required more investment, strong management and improved efficiency a day after defeating his center-left…
[ad_1] NEW YORK (Reuters) – Warren Buffett on Saturday lamented his inability to find big companies to buy, and said his goal is to make “one or more huge acquisitions” of non-insurance businesses to bolster results at his conglomerate Berkshire Hathaway Inc (BRKa.N). In his annual letter to Berkshire shareholders, Buffett admitted that finding things…
[ad_1] NEW YORK (Reuters) – Warren Buffett on Saturday said he needs to make “one or more huge acquisitions” to increase Berkshire Hathaway Inc (BRKa.N) earnings, but admitted that finding a deal at “a sensible purchase price” has become a challenge. Berkshire has $116 billion in cash and government bonds that Buffett wants to deploy…
[ad_1] RIGA (Reuters) – Latvian authorities will gather for an emergency meeting on Monday following the failure of the country’s third-largest bank, the Prime minister said on Saturday, as the country kept watch for any fallout on other banks. ABLV Bank is failing or likely to fail and will be wound up as saving it…
[ad_1] BEIJING (Reuters) – China’s banking regulator has introduced steps to cut the red tape for foreign banks, state media agency Xinhua said on Saturday, as part of the government’s ongoing effort to promote investment in the country’s fast-growing financial sector. The China Banking Regulatory Commission (CBRC) has revised its rules for foreign banks, scrapping…
[ad_1] (Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Saturday reported a record quarterly and annual profit, benefiting from a lower U.S. corporate income tax rate. Fourth-quarter net income increased roughly fivefold to $32.55 billion, or $19,790 per Class A share, from $6.29 billion, or $3,823 per share, a year earlier. Quarterly operating profit…
[ad_1] MUMBAI (Reuters) – Mehul Choksi, one of two businessmen allegedly involved in perpetrating India’s biggest ever banking fraud, broke his silence at the weekend with an open letter to employees claiming his innocence and telling them to look for other jobs. Choksi and his nephew Nirav Modi, both owners of jewelry store chains, are…
[ad_1] BEIJING (Reuters) – China’s insurance regulator said on Saturday it would force three major insurers to take steps to deal with overseas investments that had violated regulations, as Beijing intensifies its crackdown on risk in the insurance sector. In three separate statements, the China Insurance Regulatory Commission (CIRC) said investments abroad by Ping An…
[ad_1] MUMBAI (Reuters) – Indian authorities said on Saturday they seized a farmhouse, a solar power plant and land belonging to billionaire jeweler Nirav Modi, at the center of an alleged $1.8 billion fraud against Punjab National Bank (PNBK.NS) that has shaken confidence in state lenders. Modi, who had a chain of boutique stores from…
[ad_1] A “worry-free retirement” may be a thing of the past, according to a new Sun Life Financial survey, which finds that a quarter of retired Canadian are in debt in their golden years. About 25 per cent of the 750 Canadians polled between the ages of 55 to 80 years for the Sun Life Financial Barometer said they have…
[ad_1] NEW YORK (Reuters) – U.S. stocks rallied on Friday, lifted by gains in technology stocks and a retreat in Treasury yields as the Federal Reserve eased concerns about the path of interest rate hikes this year. The U.S. central bank, looking past the recent stock market sell-off and inflation concerns, said it expected economic…
[ad_1] NEW YORK/LOS ANGELES (Reuters) – Federal Reserve policymakers are fretting that they could face the next U.S. recession with an arsenal of policies little different from that used in the last downturn but robbed of much of their punch because interest rates are still low. In the midst of an unprecedented leadership transition, Fed…
[ad_1] NEW YORK (Reuters) – General Electric Co (GE.N) faces potential action by the U.S. Justice Department over allegations that its GE Capital unit and now defunct WMC Mortgage Corp unit violated U.S. law in connection with subprime mortgages, according to a regulatory filing on Friday. GE said the department “is likely to assert” violation…
[ad_1] (Reuters) – Kraft Heinz Co said on Friday billionaire investor Warren Buffett has decided to retire from the company’s board following the end of his term in April to reduce travel commitments. H.J. Heinz Co, backed by Buffett’s Berkshire Hathaway Inc and Brazil’s private equity firm 3G Capital, acquired Kraft Foods Group in 2015…
[ad_1] NEW YORK (Reuters) – General Electric Co (GE.N) added 18,000 thousand employees to its worldwide workforce last year, a 6.1 percent increase that comes as the company is trying to cut costs to shore up its profits, according to a regulatory filing on Friday. The Boston-based conglomerate said it had 313,000 employees at year-end,…
[ad_1] WASHINGTON (Reuters) – An easing of financial rules will soon unleash pent-up mergers and acquisitions among mid-sized U.S. banks, according to deal bankers, analysts and bank executives. Deal activity in the sector has languished since the 2007-2009 financial crisis thanks to stricter rules on lenders with more than $50 billion in assets and aggressive…
[ad_1] NEW YORK (Reuters) – Federal Reserve policymakers fretted on Friday that they could face the next U.S. recession with virtually the same arsenal of policies used in the last downturn and, with interest rates still relatively low, those will not pack the same punch. In the midst of an unprecedented leadership transition, Fed officials…
[ad_1] WASHINGTON (Reuters) – Volkswagen AG’s (VOWG_p.DE) U.S. unit on Friday resolved a lawsuit brought by a North Carolina man whose diesel emissions case was set to be the first go to trial on Monday. The settlement comes days after Virginia state court Judge Bruce White rejected a request by the German automaker to delay…
[ad_1] (Reuters) – Nordstrom Inc’s (JWN.N) founding family group is finalizing plans to submit an offer to take the U.S. department store operator private, people familiar with the matter said on Friday. Nordstrom is about to receive the offer as it prepares to report fourth-quarter earnings on March 1 and update investors on its financial…
[ad_1] The value of Bitcoin soared last year, trading for more than $20,000 per Bitcoin. (Benoit Tessier/Reuters) Toronto-Dominion Bank is halting the use of its credit cards to buy cryptocurrency as it conducts a review of the “evolving market.” The recent decision follows moves by several U.S. banks to stop allowing credit card purchases of…
[ad_1] It’s official, the Dropbox IPO filing is here. Going public is a huge milestone for Dropbox and has been one of the most anticipated tech IPOs for several years now. The cloud storage company has been around since 2007 and has raised over $600 million in funding. We knew that it had already filed…
[ad_1] (Reuters) – Data-sharing business Dropbox Inc on Friday filed for an initial public offering of up to $500 million with the U.S. Securities and Exchange Commission. The company said it plans to have its common stock listed on the Nasdaq under the ticker symbol “DBX”. Goldman Sachs & Co LLC, J.P. Morgan and Deutsche…
[ad_1] BEIJING/FRANKFURT (Reuters) – The chairman of Chinese carmaker Geely [GEELY.UL] has built a 9.69 percent stake in Mercedes-Benz owner Daimler (DAIGn.DE), filings showed on Friday, demonstrating a shift in strategy by Chinese investors seeking access to new technology. Two sources familiar with the thinking of Li Shufu said his move to accumulate the stake,…
[ad_1] (Reuters) – Cheerios cereal maker General Mills Inc (GIS.N) will buy Blue Buffalo Pet Products Inc (BUFF.O) for nearly $8 billion, foraying into a fast-growing pet food market to counter declining sales of processed foods. The acquisition announced Friday is the latest by a major food company seeking to expand in the $30 billion…
[ad_1] (Reuters) – U.S. stocks advanced on Friday, buoyed by gains in technology stocks and a pullback in Treasury yields as the Federal Reserve eased concerns about the path of interest rate hikes this year. The central bank, looking past the recent stock market sell-off and inflation concerns, said it expected economic growth to remain…
[ad_1] (Reuters) – A federal judge on Friday refused to overturn former drug company executive Martin Shkreli’s conviction of scheming to manipulate his company’s stock price. U.S. District Judge Kiyo Matsumoto said at a court hearing in Brooklyn that there was enough evidence to support a jury’s verdict last August that Shkreli tried to prop…
[ad_1] BERLIN (Reuters) – Volkswagen (VOWG_p.DE) said profitability could take a hit this year as the carmaker invests billions of euros in electric vehicles (EVs) and launches a raft of new models. Europe’s largest automotive group, which reported record 2017 earnings on Friday, said it expected a return on sales for 2018 of between 6.5…
[ad_1] WASHINGTON, (Reuters) – The U.S. Federal Reserve, looking past a recent stock market sell-off and concern about inflation, said it sees steady growth continuing and no serious risks on the horizon the might pause its planned pace of rate hikes. “The economic expansion continues to be supported by steady job gains, rising household wealth,…
[ad_1] FRANKFURT (Reuters) – German car maker BMW (BMWG.DE) said on Friday it would recall 11,700 cars to fix their engine management software after it discovered that the wrong software had been installed on its luxury 5- and 7-Series models. “The BMW Group found in internal tests that correctly developed software had been installed in…
[ad_1] FRANKFURT (Reuters) – Li Shufu, the chairman and main owner of Chinese carmaker Geely [GEELY.UL], has built a stake of 9.69 percent in Daimler AG (DAIGn.DE), the German carmaker said in a regulatory filing on Friday. The stake, worth nearly $9 billion at the current valuation for Daimler shares, makes Li the biggest single…
[ad_1] FRANKFURT (Reuters) – Li Shufu, the chairman and main owner of Chinese carmaker Geely [GEELY.UL], has amassed a stake of 9.69 percent in Daimler AG (DAIGn.DE), the German carmaker said in a regulatory filing on Friday. The stake, worth nearly $9 billion at the current market price for Daimler shares, makes Li the biggest…
[ad_1] NEW YORK (LPC) – A flurry of huge US acquisitions is pushing high-grade M&A lending to early year highs as blue-chip firms take advantage of US tax reform and try to fight off the threat of online retail giant Amazon. Looser US tax rules could produce a record year for M&A deals. About US$120bn…
[ad_1] (Reuters) – Wall Street’s main indexes rose on Friday, with gains in technology stocks helping claw back some of the week’s losses, which were sparked by concerns about interest rates. Looking past the recent stock market sell-off and concern about inflation, the Federal Reserve said it expected growth to remain steady and that it…
[ad_1] (Reuters) – Henry Schein Inc (HSIC.O) and Patterson Cos Inc (PDCO.O) have bigger things to worry about than Amazon.com Inc (AMZN.O) potentially disrupting the niche dental-equipment market they dominate in the United States. Their stocks, as well as those of other U.S. drug and medical equipment suppliers, have taken a beating in the past…
[ad_1] BERLIN (Reuters) – Volkswagen (VOWG_p.DE) said profitability could take a hit this year after posting record 2017 earnings on Friday, as the carmaker invests billions of euros in electric vehicles (EVs) and launches a raft of new models. Europe’s largest automotive group said it expects a return on sales for 2018 of between 6.5…
[ad_1] WASHINGTON (Reuters) – Two Democratic U.S. senators on Friday urged Attorney General Jeff Sessions to thoroughly investigate Daimler AG (DAIGn.DE) after a media report alleged the automaker used potentially illegal software to pass diesel emissions tests, according to a letter seen by Reuters. German newspaper Bild am Sonntag had reported on Sunday that U.S.…
[ad_1] Scotiabank says that slower job creation and weaker gains in household wealth will likely contribute to softer Canadian sales of cars and light trucks this year. That would put an end to a five-year string of growth that included a record high 2.04 million vehicles sold in 2017. Scotiabank doesn’t forecast much of a…
[ad_1] (Reuters) – Wall Street’s main indexes rose on Friday, with gains in technology stocks helping claw back some of the week’s losses, which were sparked by concerns about interest rates. Soaring shares of Hewlett Packard Enterprise (HPE.N) and HP Inc (HPQ.N), the two companies created from the split of Hewlett Packard Co in 2015,…
[ad_1] (Reuters) – Cheerios cereal maker General Mills Inc (GIS.N) will buy Blue Buffalo Pet Products Inc (BUFF.O) for nearly $8 billion, foraying into a fast-growing pet food market to counter declining sales of processed foods. The acquisition announced Friday is the latest by a major food company seeking to expand in the $30 billion…
[ad_1] (Reuters) – Shares of Hewlett Packard Enterprise (HPE.N) rose 7 percent to a record in early trading on Friday after the company unveiled a $7 billion share buyback program, reported strong quarterly results and raised its full-year profit forecast. At least eight brokerages lifted their price targets on the stock. The results were the…
[ad_1] (Reuters) – General Electric Co’s (GE.N) transportation unit said on Friday it signed a $1 billion deal to supply 30 freight locomotives to Ukrainian Railways. Under the agreement, the unit will also supply additional locomotive kits over 10 years, rehabilitate locomotives in the railway’s legacy fleet and provide long-term maintenance services. Production is expected…
[ad_1] Statistics Canada reported Friday that the consumer price index (CPI) rose 1.7 per cent year-over-year in January, a slight cooling from the 1.9 per cent annual increase seen in December. On a one-month basis, prices in January were up by 0.7 per cent from December. Both the one-year and monthly inflation figures for January topped the expectations of…
[ad_1] B.C. winery owners were popping corks Thursday after Alberta’s premier suspended a ban on the province’s wine. The move came after B.C. Premier John Horgan announced his government would turn to the courts on the question of whether B.C. could put a temporary ban on increased bitumen exports from Alberta. That’s resulted in an end…
[ad_1] RBC’s increase to its common share dividend came as the lender saw strong results across its divisions for the quarter ended Jan. 31, but also recorded a writedown due to U.S. corporate tax cuts. (Nathan Denette/Canadian Press) Royal Bank of Canada hiked its dividend as it reported a first-quarter profit of $3 billion, which…
[ad_1] General Mills is buying Blue Buffalo Pet Products Inc. in a deal valued at about $8 billion. General Mills Inc. will pay $40 US per Blue Buffalo share. That’s a 17 per cent premium to the pet food company’s Thursday closing price of $34.12. Shares of Blue Buffalo surged more than 17 per cent in…
[ad_1] (Reuters) – U.S. stock index were higher on Friday as bond yields retreated for the second straight day, with investors also focusing on speeches by Federal Reserve officials for their views on interest rates. U.S. Treasury 10-year note yields US10YT=RR, the benchmark for global borrowing costs, hit a more than four-year high on Wednesday…
[ad_1] ZURICH (Reuters) – Credit Suisse (CSGN.S) said on Friday it would fight on after a Texas appeals court upheld a $351 million award against the Swiss bank over its role in a Las Vegas resort project whose finances collapsed a decade ago. The Texas Court of Appeals this week upheld the award, which includes…
[ad_1] (Reuters) – The numbers behind Tesla Inc’s (TSLA.O) long-distance Semi electric trucks are close to making sense for hauliers looking at a shift away from diesel that may save them tens of thousands of dollars a year, according to an executive with DHL. Jim Monkmeyer, president, Transportation at DHL Supply Chain, was among the…
[ad_1] (Reuters) – Cheerios cereal maker General Mills Inc (GIS.N) will buy Blue Buffalo Pet Products Inc (BUFF.O) for nearly $8 billion in cash, looking to enter the fast-growing market for natural pet foods, the companies said on Friday. General Mills’ offer price of $40 per Blue Buffalo share represents a premium of 17.2 percent…
[ad_1] BEIJING (Reuters) – Liu He, a Harvard-trained economist who is a trusted confidant of Chinese President Xi Jinping, has emerged as the front runner to be the next governor of the People’s Bank of China (PBOC), according to three sources with knowledge of the situation. Liu may be in a position to become one…
[ad_1] NEW YORK (Reuters) – U.S. President Donald Trump has called a meeting early next week with key senators and Cabinet officials to discuss potential changes to biofuels policy, which is coming under increasing pressure after a Pennsylvania refiner blamed the regulation for its bankruptcy, according to four sources familiar with the matter. The meeting…
[ad_1] LONDON (Reuters) – A stronger dollar and slightly higher global borrowing costs kept world shares subdued on Friday and left gold limping toward its worst week since December. Europe’s main London, Frankfurt and Paris markets <0#.INDEXE> barely budged in early moves, keeping MSCI’s 47- country world index just in the black on the day…
[ad_1] YOKOHAMA (Reuters) – Nissan Motor Co is taking its first steps to becoming an operator of autonomous vehicle services, hoping to break into a segment set to be dominated by Uber [UBER.UL] and other technology firms. While automakers for more than a century have based their business models on individual car ownership, Japan’s No.2…
[ad_1] HONG KONG (Reuters) – Hong Kong Exchanges and Clearing (HKEX) (0388.HK), the city’s exchange operator, said on Friday it plans to offer concessions to U.S. and UK-listed companies considering a secondary listing in Hong Kong. The plans are part of the exchange’s efforts to woo blockbuster Chinese companies to its market, including home tech…
[ad_1] As we prepare for next week’s federal budget, here’s an interesting exercise: How much money does Ottawa spend and what are it’s biggest expenses? Most people think it’s health care or provincial transfers. Most people are wrong. The federal government spent $311 billion in the fiscal year 2016-17. The biggest single expense was elderly benefits. This includes Old…
[ad_1] BEIJING/SHANGHAI (Reuters) – The Chinese government on Friday seized control of Anbang Insurance Group Co Ltd and said its chairman had been prosecuted, a dramatic move that highlights Beijing’s willingness to curtail big-spending conglomerates as it cracks down on financial risk. Anbang had violated laws and regulations which “may seriously endanger the solvency of…
[ad_1] SEOUL (Reuters) – General Motors Co will propose a base wage freeze and no bonuses this year along with a suspension of some worker benefits at its money-losing South Korean unit to cut costs, according to an internal letter that Reuters reviewed on Friday. GM is bracing for a major showdown with its South…
[ad_1] SYDNEY (Reuters) – Asian shares rebounded on Friday as comments from a Federal Reserve official eased worries about faster rate rises in the United States, while the dollar ticked higher as investors dipped their toes back into riskier assets. Indications were mixed for other global equity markets, with E-Mini futures for the S&P 500…
[ad_1] SAN FRANCISCO (Reuters) – Home-booking company Airbnb has sparred with regulators across the globe, but Chief Executive Brian Chesky on Thursday spoke of coming to terms with his responsibility for how the company can impact housing markets and neighborhoods. “Every year I think you have a sense you have even more responsibility than the…
[ad_1] YOKOHAMA (Reuters) – Facing a future in which self-driving cars may curb vehicle ownership, Nissan Motor Co is taking its first steps to becoming an operator of autonomous transportation services, hoping to break into a segment set to be dominated by Uber Technologies and other technology firms. In partnership with Japanese mobile gaming platform…
[ad_1] SYDNEY (Reuters) – Asian shares rebounded on Friday as comments from a Federal Reserve official eased worries about faster rate rises in the United States, while the safe-haven yen held on to its gains amid heightened volatility across markets. Financial markets have fluctuated wildly this month as investors fretted about how fast the Fed…
[ad_1] BEIJING/SHANGHAI (Reuters) – The Chinese government on Friday seized control of Anbang Insurance Group Co Ltd [ANBANG.UL], one of China’s biggest insurance conglomerates, in a dramatic move that underscores Beijing’s intent to crackdown on financial risk. Anbang’s chairman and key shareholder, Wu Xiaohui, had also been prosecuted for economic crimes, the China Insurance Regulatory…
[ad_1] SEOUL (Reuters) – General Motors Co (GM.N) will propose a base wage freeze and no bonuses this year as well a suspension of some worker benefits at its money-losing South Korean unit, in an effort to cut costs, showed an internal letter seen by Reuters on Friday. GM announced last week it would shut…
[ad_1] Next week’s federal budget is expected to make a significant investment in building up Canada’s cyber defences and encouraging tech firms and talented programmers to work with the federal government, CBC News has learned. Several government sources say up to $1 billion has been requested by federal departments to address a growing number of…
[ad_1] BEIJING/SHANGHAI (Reuters) – Anbang Insurance Group Co Ltd, one of China’s biggest insurance conglomerates, has been taken over by the country’s insurance regulator for one year, and its chairman has been prosecuted for economic crimes. The China Insurance Regulatory Commission (CIRC) said in a statement on Friday that it will maintain the group as…
[ad_1] SYDNEY (Reuters) – Asian shares rebounded on Friday as comments from a Federal Reserve official eased worries that the central bank might raise rates more aggressively this year, while the safe-haven yen held on to its gains amid heightened volatility across markets. Financial markets have fluctuated wildly this month as investors fretted about how…
[ad_1] (Reuters) – Japanese electronics maker Sharp Corp (6753.T) has dropped legal action to block China’s Hisense Group from selling television in North America, the Nikkei business daily reported on Friday. Sharp had withdrawn a Federal lawsuit and an action filed with a U.S. trade body as of Thursday, the Nikkei said, without citing sources.…
[ad_1] NEW YORK (Reuters) – U.S. President Donald Trump has called a cabinet-level meeting early next week to discuss potential changes to biofuels policy, which is coming under increasing pressure after a Pennsylvania refiner blamed the regulation for its bankruptcy, according to three sources familiar with the matter. The meeting comes as the oil industry…
[ad_1] HP Inc (HPQ.N) reported first-quarter revenue and profit on Thursday above Wall Street estimates as it sold more personal computers and printers, helping the company raise its full-year profit forecast. Shares of the company, which houses the hardware business of former Hewlett-Packard Co, rose 5.3 percent to $22.53 after the bell. The company said…
[ad_1] (Reuters) – Japanese electronics maker Sharp Corp (6753.T) would drop legal action blocking China’s Hisense Group from selling television in North America, Nikkei reported on Friday. As of Thursday, Sharp had withdrawn a Federal lawsuit and an action filed with a U.S. trade body, the Nikkei Asian Review said. Sharp, which had reduced its…
[ad_1] BOSTON/NEW YORK (Reuters) – The world’s largest asset manager put U.S. gunmakers on notice on Thursday that it is no longer business as usual in the wake of a shooting that killed 17 at a Florida high school. BlackRock Inc said it will speak to weapons manufacturers and distributors “to understand their response” to…
[ad_1] (Reuters) – Target Corp (TGT.N) should hold off on plans to cash in on a perceived advantage in toys after the collapse of Toys “R” Us, several of the company’s investors told Reuters, worried it could eat up capital desperately needed in an Amazon-dominated retail world. When the biggest toy retailer in the U.S.…
[ad_1] HP Inc , which houses the hardware business of former Hewlett-Packard Co, reported a better-than-expected revenue and profit in the first quarter as the company sold more personal computers and printers. [ad_2] Source link
[ad_1] NEW YORK (Reuters) – The Dow and S&P 500 advanced on Thursday to halt a two-session losing skid, buoyed by gains in industrial and energy shares as U.S. Treasury yields eased, while the Nasdaq lost ground for a third straight session. Major indexes advanced early as worries about a faster pace of interest rate…
[ad_1] HP Inc (HPQ.N) reported a more than three-fold rise in first-quarter profit on Thursday as the company, formed out of the 2015 split of Hewlett-Packard Co, benefited from changes in the U.S. tax law and sold more personal computers and printers. Net earnings rose to $1.94 billion, or $ 1.16 per share, in the…
[ad_1] NEW YORK (Reuters) – The Dow and S&P 500 advanced on Thursday to halt a two-session losing skid, buoyed by gains in industrial and energy shares as U.S. Treasury yields eased, while the Nasdaq lost ground for a third straight session. The Dow Jones Industrial Average .DJI rose 164.7 points, or 0.66 percent, to…
[ad_1] SAN FRANCISCO (Reuters) – Shares of gunmakers American Outdoor Brands and Sturm Ruger & Company rallied on Thursday after U.S. President Donald Trump advocated tightening background checks for guns in response to last week’s high school massacre in Florida. The Republican president’s tweets and comments were seen as increasing the possibility of greater curbs…
[ad_1] BOSTON (Reuters) – BlackRock Inc said on Thursday it plans to speak with weapons manufacturers and distributors ‘to understand their response’ to last week’s mass school shooting in Florida. Ed Sweeney, a spokesman for the New York-based asset manager that is the largest owner of many U.S. companies, said via e-mail that it cannot…
[ad_1] NEW YORK (Reuters) – U.S. stocks advanced on Thursday, putting major indexes on track to snap a recent spate of declines, buoyed by gains in industrial and energy shares as U.S. Treasury yields eased. The Dow and S&P dropped for a second consecutive session and the Nasdaq fell for a third straight on Wednesday…
[ad_1] SAN FRANCISCO (Reuters) – Airbnb is rolling out new services aimed at attracting travelers looking for luxury accommodations and traditional hotels, the latest move to contend with sputtering growth in its original home-renting business. The company on Thursday will unveil a new product that bundles Airbnb’s poshest properties with high-end travel services, as well…
[ad_1] Boeing Co, which is locked in a trade dispute with the Canadian government, has applied to stay in the race to supply Canada with 88 new fighter jets, the government said on Thursday. Boeing is one of five potential contenders to supply the jets, including U.S. rival Lockheed Martin Corp. Canada is due to release the exact specifications for the jets…
[ad_1] (Reuters) – The president of a Swiss foundation that conducted a $232 million online fundraiser for the embattled Tezos cryptocurrency project has stepped down, the foundation said in a statement on Thursday. Johann Gevers, who helped set up the foundation in July, has been replaced by Ryan Jesperson, one of the project’s contributors, the…
[ad_1] WASHINGTON (Reuters) – Takata Corp’s U.S. unit agreed Thursday to settle a probe by 44 state attorneys general into claims it concealed a deadly safety defect with air bag inflators. TK Holdings Inc, which is in bankruptcy reorganization proceedings, agreed in the settlement to a $650 million civil penalty over the defect linked to…
[ad_1] (Reuters) – Gains in industrial and technology shares helped U.S. stocks rebound from a two-day fall on Thursday as investors shrugged off the prospects of more interest rate hikes this year. Minutes of the Federal Reserve’s latest meeting showed on Wednesday that the policymakers were more confident in the need to keep raising rates,…
[ad_1] WASHINGTON (Reuters) – Hyundai Motor Co’s (005380.KS) Genesis brand topped the annual ranking of new vehicles by influential U.S. magazine Consumer Reports, while General Motors Co’s (GM.N) electric Chevrolet Bolt was named top pick for compact green car. Millions of prospective auto buyers consult the magazine’s rankings, which are based on road testing, reliability,…
[ad_1] The B.C. Wine Institute says it is seeking an injunction against Alberta’s ban on vintages from this province, calling the move “unconstitutional.” The industry group’s president, Miles Prodan, says he’s surveyed wineries across the province, and estimates they’ve lost about $1 million in the last two weeks because of the ban. “It’s clearly about…
[ad_1] Loblaw Companies Ltd. reported a drop in its fourth-quarter profit, hit by costs related to the announcement of its PC Optimum loyalty rewards program and the fallout from its admission of participation in an alleged industry-wide price-fixing conspiracy. The retailer, which includes Loblaws and Shoppers Drug Mart, said Thursday its profit available to common…
[ad_1] If you’ve tried to deal with a bot before you can speak to a human customer service rep, you know how frustrating that process can sometimes be. Sure, there are basic tasks that can free up a human rep to handle the more difficult matters, but it can be exasperating when there is no…
[ad_1] LONDON (Reuters) – An ill-fated deal struck by global consultancy McKinsey in South Africa has been used by Harvard Business School as a case study for students. McKinsey had a local management consultancy, Trillian, as a partner when working on a big contract to advise South African state utility Eskom. The deal collapsed because…
[ad_1] WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits fell to a near 45-year low last week, pointing to strong job growth in February and solid momentum in the economy. The economy’s brightening prospects were also underscored by other data on Thursday showing a gauge of future economic activity increasing for a…
[ad_1] (Reuters) – Ford Motor Co (F.N) on Thursday named company insider Kumar Galhotra as head of its North American operations, filling the gap left by the abrupt departure of Raj Nair after an internal investigation uncovered “inappropriate behavior” by the executive. The appointment was part of a broader executive reshuffle by the No. 2…
[ad_1] DETROIT (Reuters) – United Parcel Service Inc (UPS.N) said on Thursday it is partnering with truck maker Workhorse Group Inc (WKHS.O) to build electric delivery vans that could replace tens of thousands of vehicles in the package delivery company’s fleet. The two companies said the first 50 vans will have a range of 100…
[ad_1] ZURICH (Reuters) – UBS (UBSG.S) Chief Executive Sergio Ermotti expects to hand over to a colleague when he calls it quits atop Switzerland’s biggest bank, he said in a magazine interview. The succession issue does not seem pressing. Chairman Axel Weber let it be known last year that he planned to stay on until…
[ad_1] (Reuters) – Wall Street’s main indexes rose on Thursday, led by gains in technology and industrial shares as investors looked past fears of more interest rate hikes this year. Minutes of the Federal Reserve’s latest meeting showed on Wednesday that the policymakers were more confident in the need to keep raising rates, with most…
[ad_1] PARIS (Reuters) – French supermarket chain Intermarche could be fined after competition investigators found it breached rules with its hefty discounts on products such as the Nutella chocolate spread offer that caused pandemonium in some stores last month. The French government’s DGCCRF competition and anti-fraud agency found that Intermarche broke a French law forbidding…
[ad_1] (Reuters) – The S&P 500 and the Dow industrials opened higher on Thursday after two days of losses as bond yields eased off four-year highs and traders took stock of the Federal Reserve’s views on inflation. The Dow Jones Industrial Average .DJI rose 101.75 points, or 0.41 percent, to 24,899.53. The S&P 500 .SPX…
[ad_1] Falcon.io, a startup out of Denmark that helps businesses manage their presence across social media and messaging platforms, has acquired a competitor in a wider trend of consolidation in the market for such services. It is buying Komfo from customer experience software developer Sitecore, which itself was majority acquired by EQT for $1.1 billion in…
[ad_1] (Reuters) – U.S. stock index futures were higher on Thursday as bond yields eased off four-year highs, with traders taking stock of the Federal Reserve’s views on inflation. Minutes of the January meeting showed on Wednesday the U.S. central bank’s rate-setting committee grew more confident in the need to keep raising rates, with most…
[ad_1] Few problems are as much of a headache for the modern corporate worker as buying things on the company’s dime. Companies are loathe to hand out credit cards to everyone in the building, but they also want their employees to do your job without having to fill out six forms in triplicate to requisition…
[ad_1] Canadian retail sales fell in December, ending a run of three straight months of increases, Statistics Canada reported Thursday. For the month, sales were down by 0.8 per cent to $49.6 billion. The report was a bit weaker than the market had been expecting. Economists had been projecting a drop of 0.5 per cent.…
[ad_1] Feature Labs, a startup with roots in research begun at MIT, officially launched today with a set of tools to help data scientists build machine learning algorithms more quickly. Co-founder and CEO Max Kantor says the company has developed a way to automate “feature engineering,” which is often a time consuming and manual process…
[ad_1] WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits fell to a near 45-year low last week, pointing to strong job growth in February, which should continue to underpin the economy. Initial claims for state unemployment benefits dropped 7,000 to a seasonally adjusted 222,000 for the week ended Feb. 17, the Labor…
[ad_1] General Motors Co. is reportedly extending a cutback in car production at its plant in Oshawa, Ont., into April and May before it begins a second shift to produce pickup trucks later this year. The automaker had halted production of Cadillac XTS and Chevrolet Impala cars for three weeks in January and brought the…
[ad_1] CIBC raised its dividend Thursday as it reported better-than-expected results for its first quarter helped by strong results at home and south of the border. The bank’s increased its quarterly payment to common shareholders by three cents to $1.33 per share. The higher dividend came as the lender reported a profit attributable to shareholders…
[ad_1] (Reuters) – Target Corp (TGT.N) should hold off on plans to cash in on a perceived advantage in toys after the collapse of Toys “R” Us, several of the company’s investors told Reuters, worried it could eat up capital desperately needed in an Amazon-dominated retail world. When the biggest toy retailer in the U.S.…
[ad_1] CHICAGO/MEXICO CITY (Reuters) – Mexican buyers imported ten times more corn from Brazil last year amid concern that NAFTA renegotiations could disrupt their U.S. supplies, according to government data and top grains merchants. Mexico is on track to buy more Brazilian corn in 2018, which would hurt a U.S. agricultural sector already struggling with…
[ad_1] (Reuters) – Warren Buffett may use part of his annual letter to Berkshire Hathaway Inc shareholders, due on Saturday, to renew his optimism about America, at a time economic growth is on the upswing and U.S. stocks sit near record highs despite rising interest rates. His enthusiasm is long-lived. In last year’s letter, he…
[ad_1] BERLIN (Reuters) – German prosecutors searched the homes of three new suspects in connection with Audi’s emissions scandal on Thursday, further widening their inquiry into the carmaker’s test-cheating scandal to include former executives. About two weeks after raiding Audi’s headquarters and one of its two German plants, Munich prosecutors said two of the three…
[ad_1] LONDON (Reuters) – World stocks tumbled to one-week lows on Thursday after the U.S. Fed confirmed it was on track to raise interest rates several times this year, sending bond yields to new multi-year highs. While U.S. 10-year yields retreated after nearing the psychologically key 3 percent level, the minutes of the U.S. Federal…
[ad_1] LONDON (Reuters) – Barclays PLC (BARC.L) showed its confidence in future earnings on Thursday by restoring its full dividend, despite lackluster investment banking income, restructuring costs and U.S. tax reforms hitting the bank’s 2017 bottom line. Shares in the British bank were up 5.1 percent to 212 pence at 1043 GMT, sending Barclays to…
[ad_1] BERLIN (Reuters) – German prosecutors said on Thursday they were searching the homes of three new suspects in connection with Audi’s emissions scandal. Two of the new suspects are former members of Audi’s executive board and all three are suspected of being partly responsible for the emissions trickery, Munich prosecutors said in a statement,…
[ad_1] You’ve likely heard the concern that Twitter and Facebook have divided the world into separate camps because many of us unfollow the social media voices that disagree with us. I thought of that as I flipped through my old-tech newspaper yesterday morning, reading several pieces about Canada’s own domestic trade dispute, vainly looking to see if any of…
[ad_1] FRANKFURT (Reuters) – Germany’s highest administrative court in Leipzig will on Thursday decide the fate of 15 million diesel vehicles in the country when it rules on whether cities in Europe’s largest car market can ban heavily polluting cars. Diesel-engine cars have been in the spotlight since Volkswagen (VOWG_p.DE) in 2015 admitted to cheating…
[ad_1] SEOUL (Reuters) – South Korean President Moon Jae-in is in a bind. Either he risks losing political capital and thousands of high-paying jobs if General Motors cuts its presence in South Korea, or he faces a public backlash if he uses taxpayer money as a lifeline for the U.S. automaker. Last week, GM announced…
[ad_1] NEW YORK (Reuters) – Last March, executives at General Electric Co’s power-plant business gave Wall Street a surprisingly bullish forecast for the year. Despite flat demand for new natural gas power plants, they said, GE Power’s revenue and profit would rise. Showing data from financial firm Lazard and other sources, their presentation said natural…
[ad_1] SYDNEY (Reuters) – Most Asian share markets followed S&P 500 futures lower on Thursday as speculation of faster hikes in U.S interest rates soured risk appetite globally. The dollar held onto most of its overnight gains courtesy of higher Treasury yields, though the sudden shift to safety also spurred demand for the Japanese yen.…
[ad_1] QUERETARO, Mexico (Reuters) – French aero engine maker Safran (SAF.PA) expects to be producing 20,000 composite fan blades for the LEAP jet engine by 2021 at its new plant in central Mexico’s Queretaro state, the company’s chief executive Philippe Petitcolin said on Wednesday. The composites plant, a joint $100 million investment with Albany International,…
[ad_1] SYDNEY (Reuters) – Most Asian share markets followed S&P 500 futures lower on Thursday as speculation of faster hikes in U.S interest rates soured risk appetite globally. The dollar held onto most of its overnight gains courtesy of higher Treasury yields, though the sudden shift to safety spurred demand for the Japanese yen. MSCI’s…
[ad_1] NEW YORK (Reuters) – General Electric Co (GE.N) has “line of sight” on the first $4 billion in asset sales under its plans for $20 billion in disposals, the company’s chief financial officer said on Wednesday, while dismissing talk about selling shares to raise capital. Chief Financial Officer Jamie Miller, speaking to an investor…
[ad_1] SYDNEY (Reuters) – Asian shares slipped on Thursday as the risk of faster hikes in U.S interest rates lifted short-term Treasury yields to the highest in almost a decade and boosted the dollar. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS eased 0.35 percent in early trade, while E-Mini futures for the S&P…
[ad_1] JERUSALEM (Reuters) – Intel Corp plans to invest $5 billion to expand production at its Kiryat Gat plant in southern Israel, Israeli Economy Minister Eli Cohen said on Wednesday after talks with the U.S. chipmaker. Intel, would start expanding the plant this year and work would be completed in 2020, the minister said in…
[ad_1] WASHINGTON (Reuters) – U.S. home sales unexpectedly fell in January, leading to the biggest year-on-year decline in more than three years, as a chronic shortage of houses lifted prices and kept first-time buyers out of the market. The supply squeeze and rising mortgage interest rates are stoking fears of a lackluster spring selling season.…
[ad_1] NEW YORK (Reuters) – Mobile banking apps keep getting better, but 60 percent of Americans would still rather open a new checking account in person at a bank branch than on a phone, tablet or desktop computer, according to a new survey. Set for release on Wednesday by consulting firm Novantas, the survey also…
[ad_1] NEW YORK (Reuters) – U.S. stocks closed lower on Wednesday in a rocky session after the release of the minutes from the Federal Reserve’s January meeting pushed yields on the benchmark 10-year U.S. Treasury note to a four-year high. After the Fed left interest rates unchanged in January, minutes showed the U.S. central bank’s…
[ad_1] DETROIT (Reuters) – Ford Motor Co (F.N) said on Wednesday that Raj Nair, its president for North America, was leaving the company immediately after an internal investigation found his behavior was “inconsistent with the company’s code of conduct.” Ford did not give any details on what that behavior entailed. A company spokesman said the…
[ad_1] MEXICO CITY (Reuters) – Tensions over Mexico’s labor standards will not prevent the signatories to the North American Free Trade Agreement (NAFTA)from reaching an accord to overhaul the deal, the country’s labor minister said on Wednesday. Negotiators from the United States, Canada and Mexico are due to meet in Mexico City from Feb. 25…
[ad_1] DETROIT (Reuters) – Ford Motor Co (F.N) said on Wednesday that Raj Nair, its president for North America, was leaving the company immediately after an internal investigation found his behavior was “inconsistent with the company’s code of conduct.” Ford did not give any details on what that behavior entailed. A company spokesman said the…
[ad_1] Ford Motor Co said on Wednesday that Raj Nair, its president for North America, was leaving the company immediately after an internal investigation found his behaviour was “inconsistent with the company’s code of conduct.” Ford did not give any details on what that behaviour entailed. His departure comes after several high-profile business leaders have…
[ad_1] SAN FRANCISCO (Reuters) – Netflix Inc, Amazon.com Inc and technology companies poised to benefit from U.S. corporate tax cuts are attracting fresh attention on Wall Street after their shares shrugged off recent market turbulence. Amazon on Wednesday rose over 2 percent and touched $1,500 for the first time, while Netflix rose also rose over…
[ad_1] DETROIT (Reuters) – Ford Motor Co (F.N) said on Wednesday that its president for North America Raj Nair was leaving the company effective immediately following an investigation into reports of inappropriate behavior. The company said in a statement that its review had determined Nair behavior was “inconsistent with the company’s code of conduct.” Reporting…
[ad_1] The B.C. Wine Institute says it is seeking an injunction against Alberta’s ban on vintages from this province, calling the move “unconstitutional.” The industry group’s president, Miles Prodan, says he’s surveyed wineries across the province, and estimates they’ve lost about $1 million in the last two weeks because of the ban. “It’s clearly about…
[ad_1] The B.C. Wine Institute says it is seeking an injunction against Alberta’s ban on vintages from this province, calling the move “unconstitutional.” The industry group’s president, Miles Prodan, says he’s surveyed wineries across the province, and estimates they’ve lost about $1 million in the last two weeks because of the ban. “It’s clearly about…
[ad_1] MUMBAI (Reuters) – India’s state-run Punjab National Bank (PNBK.NS) has stepped up its controls on the use of global payments network SWIFT following an alleged $1.77 billion fraud, according to memos issued this month and seen by Reuters. India’s second biggest state lender this month revealed the country’s biggest loan fraud, which it alleges…
[ad_1] NEW YORK (Reuters) – JPMorgan Chase & Co. (JPM.N) plans to build a new headquarters at its existing Manhattan site in the first major project under a rezoning law passed last year that aims to revitalize the Midtown area, the bank and officials said on Wednesday. The new 2.5 million-square-foot tower at the bank’s…
[ad_1] (Reuters) – U.S. stocks advanced on Wednesday, with the Dow and S&P 500 on track for their seventh gain in eight sessions, buoyed by stocks in economically sensitive areas such as industrials and technology. After the Federal Reserve left interest rates unchanged in January, minutes of that meeting released on Wednesday showed the central…
[ad_1] (Reuters) – Microchipmaker Broadcom Ltd (AVGO.O) cut its bid for Qualcomm Inc (QCOM.O) on Wednesday by 4 percent to $117 billion as it objected to Qualcomm’s decision to raise its own bid for NXP Semiconductors. The move appeared to lower the chances of a negotiated deal between Broadcom and Qualcomm, setting up a showdown…
[ad_1] How much can customer service be automated? Onward has some straightforward targets — 40 percent of tickets and 40 percent of messages should be automated, and average response times should be 40 seconds on average. Founders Rémi Cossart and Pramod Thammaiah describe this as Automation40 — basically, a set of goals for businesses looking…
[ad_1] A subsidiary of British banking giant Royal Bank of Scotland (RBS) is running a pilot program using an artificial intelligence (AI) powered “digital human” to help customers with basic banking questions. The lifelike virtual bank teller named “Cora” can answer up to 200 banking queries for NatWest customers in two-way conversations on a computer screen, tablet or mobile…
[ad_1] MEXICO CITY (Reuters) – Mexican broadcaster Televisa said on Wednesday that it was considering whether to keep the company intact or to spin off some divisions, as it tries to adapt to a changing media market and shore up advertising. Like other media companies, Televisa (TLVACPO.MX), Mexico’s largest broadcaster by far, is grappling with…
[ad_1] (Reuters) – Gains in technology shares powered Wall Street’s main indexes on Wednesday ahead of minutes of the Federal Reserve’s most recent policy meeting. The Fed left rates unchanged at the January meeting, but investors will look for its opinion on inflation and interest rates, especially after strong economic data raised concerns of an…
[ad_1] With the trend of growing cybercrime showing no indication of abating, a startup called Vectra that has built an artificial intelligence-based system called Cognito to detect cyberattacks and mobilise security systems to respond to them has raised $36 million to expand its R&D and business development. This Series D comes on the back of…
[ad_1] Bell, Rogers and Quebecor will be allowed to take their legal battle with the TVAddons website — which they allege is a content piracy operation that violates their copyrights — to the Federal Court of Appeal. The three telecom-media groups were able to obtain a court order last June that allowed authorities to search…
[ad_1] Google and other tech giants often have huge recruiting efforts that can target students — but startups might not have those kinds of resources to find or grab them before they head off to those huge companies. The biggest tech companies in the world can offer a lot of resources and bigger compensation packages,…
[ad_1] FRANKFURT (Reuters) – Neo-Nazis are attempting to infiltrate one of Germany’s biggest car makers, Daimler (DAIGn.DE), to turn a key factory into a showcase for their views, the plant’s works council said on Wednesday. The neo-Nazis belong to various groups and are using an alternative union, the Zentrum Automobil, as a base, said the…
[ad_1] Cloud IoT Core, Google’s fully managed service for connecting, managing and ingesting data from IoT devices, is now out of beta and generally available. Google envisions the service, which launched in public beta last September, as the first entry point for IoT data into its cloud. Once the data has been ingested, users can use…
[ad_1] WASHINGTON (Reuters) – The White House on Wednesday praised an experimental program in Oregon that charges a mileage tax to volunteer drivers, adding to signals that President Donald Trump is open to finding new revenue sources to pay for his proposed infrastructure program. In the annual Economic Report of the President, the White House…
[ad_1] (Reuters) – U.S. stocks rose on Wednesday, with technology shares and Amazon driving gains ahead of minutes of the Federal Reserve’s most recent policy meeting. The Fed left rates unchanged at the January meeting, but investors will look for its opinion on inflation and interest rates, especially after strong economic data raised concerns of…
[ad_1] Quebec’s Caisse de depot pension fund manager says it earned a 9.3 per cent return in 2017, ending a three-year streak of decreasing returns. The performance marginally surpassed its reference index and compared to a growth of 7.6 per cent in 2016. Caisse CEO Michael Sabia said the institutional investor achieved its five-year goal…
[ad_1] American imports into Canada could fall by $3.3 billion under the recently rebooted Trans-Pacific Partnership, the federal government has concluded, sparking fears the new pact could hurt the ongoing NAFTA renegotiation. The text of the 11-country Pacific Rim trade deal — a pact President Donald Trump pulled the United States out of last year…
[ad_1] WASHINGTON (Reuters) – U.S. home sales unexpectedly fell in January, leading to the biggest year-on-year decline in more than three years, as a persistent shortage of houses pushed up prices and kept first-time buyers out of the market. The National Association of Realtors said on Wednesday that existing home sales dropped 3.2 percent to…
[ad_1] The company says it will now pay a quarterly dividend of 13 cents per share, up from 11 cents. [ad_2] Source link
[ad_1] 4me, a startup that helps companies organize and track their IT outsourcing projects, announced a $1.65 million seed investment led by Storm Ventures. The company, which launched in 2010, would seem to be a bit long in tooth to warrant a seed investment round, but co-founder and CEO Cor Winkler Prins explained that the…
[ad_1] A bus emblazoned with the alleged economic cost to Britain for leaving the European Union’s 28-nation bloc on Wednesday began an eight-day tour of 33 towns and cities across the U.K. The crowdfunded bus cites a leaked government estimate of a five per cent hit to Britain’s GDP over 15 years to arrive at a figure of…
[ad_1] Last year, when tech-company database Crunchbase (once a part of TechCrunch but since spun out) announced a funding round of $18 million, it previewed plans for a new marketplace where it would sell access to third-party data to supplement its own information. Now nearly one year later, it’s taking the wraps off that project.…
[ad_1] (Reuters) – Wall Street’s main indexes opened higher on Wednesday, led by gains in technology and consumer discretionary stocks and ahead of the release of minutes of the Federal Reserve’s recent policy meeting. The Dow Jones Industrial Average .DJI rose 36.99 points, or 0.15 percent, to 25,001.74. The S&P 500 .SPX gained 6.61 points,…
[ad_1] (Reuters) – U.S. stock index futures were little changed on Wednesday ahead of the release of minutes of the Federal Reserve’s recent policy meeting that could offer clues on the pace of future interest rate hikes. The Fed left rates unchanged at the January meeting, but investors will look for its opinion on inflation,…
[ad_1] Uber drivers in Canada trying to work for more than 12 hours straight will soon be forced to take a six-hour break before they can hit the road again. The new policy, which will be rolled out the beginning of next week, will be enforced through the company’s ride-hailing app, which will block drivers…
[ad_1] HELSINKI (Reuters) – Nokia does not see meaningful potential for its “struggling” digital health business which includes activity trackers and smartwatches, according to an internal memo seen by Reuters on Wednesday. The Finnish company, which is mainly focused on making telecom network equipment, earlier this month said it would start a strategic review of…
[ad_1] JERUSALEM (Reuters) – Chipmaker Intel Corp plans to invest $5 billion to expand production at its Kiryat Gat plant in Israel in the next three years, Israeli Economy Minister Eli Cohen said on Wednesday. Cohen and other ministry officials earlier in the day met with Intel executives. He said Intel would start expanding its…
[ad_1] FRANKFURT (Reuters) – Daimler (DAIGn.DE) said it will invest 2.6 billion euros ($3.2 billion) in research and development at its trucks division by 2019, as part of a broader effort to mass produce electric heavy-duty commercial vehicles from 2021. Mercedes-Benz is currently testing eActros trucks with an operating range of up to 200 kms…
[ad_1] LONDON (Reuters) – The dollar rose to its highest level in a week on Wednesday and world stocks fell for the third day as investors braced for minutes from the Fed’s last policy meeting to see if they would herald more rises in interest rates and global bond yields. Wall Street looked set for…
[ad_1] (Reuters) – Dish Network Corp’s (DISH.O) fourth-quarter profit surged due to a roughly $1.2 billion benefit related to U.S. tax law reforms, the U.S. satellite and internet TV provider said Wednesday. Net income attributable to Dish rose to $1.39 billion, or $2.64 per share, in the quarter ended Dec. 31 from $355 million, or 73 cents per…
[ad_1] (Reuters) – Dish Network Corp (DISH.O) reported a jump in fourth-quarter profit on Wednesday due to a benefit of about $1.2 billion related to changes in U.S. tax laws. Net income attributable to Dish rose to $1.39 billion, or $2.64 per share, in the quarter ended Dec. 31 from $355 million, or 73 cents per share, a year…
[ad_1] SEOUL (Reuters) – The chairman of South Korea’s Lotte Group, who was convicted for bribery last week, has relinquished representative rights at a key Japanese holding company, adding further uncertainty to a conglomerate reeling from a plunge in business in China. Shin Dong-bin will retain his title of vice chairman and position on the…
[ad_1] LONDON (Reuters) – The dollar rose to its highest level in a week against a basket of currencies on Wednesday, as investor focus shifted to the minutes of the Federal Reserve’s last policy meeting. World stocks looked set to fall for a third straight day. The dollar index, which measures the greenback against a…
[ad_1] The soaring number of abandoned oil and gas wells across Alberta is overwhelming the industry-backed fund that pays to clean them up — and now there’s concern taxpayers could share in that burden if the province’s energy regulator loses a crucial appeal at Canada’s top court. The issue arose at the Supreme Court this month during a hearing that…
[ad_1] Spitz sunflower seeds blossomed at its lone processing plant in Bow Island in southern Alberta — but the Canadian factory is now closing down and moving south of the border, a move the company’s founder says is hard to watch. Tom Droog and his wife spent decades growing their sunflower seed farming business in Alberta into a multi-million dollar corporation…
[ad_1] A consumer group is protesting the CRTC’s refusal to hold a public inquiry into numerous claims of aggressive and misleading sales practices by some of Canada’s major telecoms. The telecom regulator says there’s no need for an inquiry. But the Public Interest Advocacy Centre (PIAC), a non-profit agency based in Ottawa, says the decision hurts consumers. “CRTC…
[ad_1] (Reuters) – Apple Inc is in talks to buy long-term supplies of cobalt for iPhone batteries directly from miners, Bloomberg reported on Wednesday, citing sources. The iPhone maker is seeking contracts to buy several thousand metric tons of cobalt for five years or longer, Bloomberg reported, citing an anonymous source. (bloom.bg/2CAIdXr) Cobalt prices have…
[ad_1] SEOUL (Reuters) – General Motors’ (GM.N) South Korean workers will go on a full strike if the U.S. automaker decides to completely pull out of the country, its union head told Reuters on Wednesday, adding he does not rule out the possibility GM might leave. For now, the 14,000-member union will focus on putting…
[ad_1] TOKYO (Reuters) – Asian stocks gained on Wednesday, while the dollar advanced as traders near-term focus shifted to the minutes of the Federal Reserve’s last policy meeting for hints on the future pace of U.S. monetary tightening. But spreadbetters expected European stocks to follow Wall Street’s lead and open lower, with Britain’s FTSE slipping…
[ad_1] (Reuters) – A U.S. regulator on Tuesday filed a lawsuit against 16 U.S. and international banks alleging they had manipulated bbaLIBOR, which is a series of interest-rate benchmarks, leading to the collapse of Puerto Rico’s Doral Bank. The Federal Deposit Insurance Corp (FDIC), which brought the suit in its capacity as receiver for Doral…
[ad_1] SEOUL (Reuters) – General Motors (GM.N) has proposed investing $2.8 billion into its struggling South Korean operations over the next 10 years and has asked Seoul to provide funds for the investment, a South Korean government official said on Wednesday. The plan comes as the Detroit carmaker and the South Korean government discuss restructuring…
[ad_1] The final version of a landmark deal aimed at cutting trade barriers in some of the Asia-Pacific’s fastest-growing economies was released on Wednesday, signalling the pact was a step closer to reality even without its star member the United States. More than 20 provisions have been suspended or changed in the final text ahead…
[ad_1] TOKYO (Reuters) – Japan plans to buy at least 20 additional F-35A stealth fighters over the next six years, some or all of which it may purchase directly from Lockheed Martin Corp (LMT.N) in the United States rather than assemble locally, three sources said. “In view of budgets and production schedules a new acquisition…
[ad_1] SEOUL (Reuters) – A better deal for South Korea’s cryptocurrency industry might be in the offing as the market regulator changes tack from its tough stance on the virtual coin trade, promising instead to help promote blockchain technology. The regulator said on Tuesday that it hopes to see South Korea – which has become…
[ad_1] TOKYO (Reuters) – Japanese shares led Asian markets higher after a weak start on Wednesday, with Japanese export focused companies attracting investors as the dollar gained against the yen thanks to U.S. Treasury debt yields hovering near highs not seen in four years. MSCI’s broadest index of Asia-Pacific shares outside Japan took early cues…
[ad_1] HONG KONG (Reuters) – A HNA Group unit said it has pledged about 41 percent of the company as collateral for a loan from a Hong Kong private equity firm, part of a slew of fundraising efforts by the Chinese conglomerate to address a liquidity crunch. The real estate development unit, Hong Kong International…
[ad_1] TOKYO (Reuters) – Japanese shares led Asian markets higher after a weak start on Wednesday, with Japanese export focused companies attracting investors as the dollar gained against the yen thanks to U.S. Treasury debt yields hovering near highs not seen in four years. MSCI’s broadest index of Asia-Pacific shares outside Japan took early cues…
[ad_1] SEOUL (Reuters) – General Motors (GM.N) has proposed $2.8 billion fresh investment in South Korea over the 10 years as part of its plan to restructure its embattled Korean unit, a South Korean senior government official said. The official with direct knowledge of the matter added the U.S. carmaker had requested South Korea to…
[ad_1] SEOUL (Reuters) – South Korea’s cryptocurrency industry is anticipating much better times as the market regulator changes tack from its tough stance on the virtual coin trade, promising instead to help promote blockchain technology. The regulator said on Tuesday that it hopes to see South Korea — which has become a hub for cryptocurrency…
[ad_1] TOKYO (Reuters) – Stock markets dipped after a long winning run on Wall Street ended overnight, while the dollar gained momentum on Wednesday as yields on U.S. Treasury debt headed for highs not seen in four years. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS lost 0.15 percent. Japan’s Nikkei .N225 shed 0.2…
[ad_1] TORONTO (Reuters) – Thomson Reuters Corp said on Tuesday Chief Executive Officer Jim Smith is in stable condition after an arrhythmia incident on Feb. 12 and is expected to be released from hospital within the next two weeks. Last week, the company said Smith was taken to a Toronto hospital after feeling unwell and…
[ad_1] (Reuters) – U.S. grocer Albertsons Cos Inc said it would buy drug store chain Rite Aid Corp (RAD.N) to create a company with $83 billion in annual revenue, giving it more clout to compete with bigger chains in an industry fearing the entry of Amazon.Com (AMZN.O). The deal is the latest in a wave…
[ad_1] FAIRFAX, Va. (Reuters) – A Virginia state court judge on Tuesday rejected a request by the U.S. unit of Volkswagen AG (VOWG_p.DE) to delay several of the company’s trials over excess emissions because of “inflammatory” comments made by a lawyer representing car owners that it fears will prejudice the jury. Fairfax County Circuit Court…
[ad_1] The B.C. government delivered on a wide variety of promises from its election platform and throne speech in its first budget, forecasting a $219 million surplus for the upcoming fiscal year on the strength of a strong economy. “A budget shouldn’t stand alone, because a budget is more than revenue and expenses. It’s about people,” said…
[ad_1] WASHINGTON (Reuters) – A judge on Tuesday denied AT&T Inc’s (T.N) request to see White House communications that might shed light on whether U.S. President Donald Trump pressured the Department of Justice to try to block the wireless carrier’s purchase of Time Warner Inc (TWX.N). The decision is a potential setback to AT&T’s plan…
[ad_1] NEW YORK (Reuters) – A U.S. judge on Tuesday rejected billionaire investor Steven A. Cohen’s request to temporarily seal a lawsuit accusing his hedge fund firm Point72 Asset Management LP of sexism toward women. U.S. District Judge Analisa Torres in Manhattan said Point72 failed to overcome the presumption under the U.S. Constitution’s First Amendment…
[ad_1] NEW YORK (Reuters) – The Dow and S&P 500 fell on Tuesday to snap a six-session winning streak as a sharp decline in Walmart weighed heavily, but gains in Amazon and chip stocks helped the Nasdaq hold near the unchanged mark. Walmart (WMT.N), the world’s biggest brick-and-mortar retailer, reported a lower-than-expected profit and posted…
[ad_1] NEW YORK (Reuters) – Walmart Inc (WMT.N), the world’s biggest retailer, on Tuesday posted a sharp drop in profit and online sales growth during the critical holiday period and forecast annual profit at the lower end of expectations. Its shares fell 9.4 percent as investors worried that Walmart would not be able to keep…
[ad_1] The forecast for Canada’s biggest banks is bright thanks to U.S. tax reform and higher interest rates, but as they report first-quarter results this week, domestic mortgage demand and the North American Free Trade Agreement could cloud the long-term outlook, analysts say. Earnings estimates for the 2018 fiscal year are being revised upwards by…
[ad_1] NEW YORK (Reuters) – A sharp drop in Walmart shares weighed heavily on the Dow and the S&P 500 on Tuesday to put a six-session winning streak in jeopardy, but gains in Amazon and technology stocks helped lift the Nasdaq. Walmart (WMT.N), the world’s biggest brick-and-mortar retailer, reported a lower-than-expected profit and posted a…
[ad_1] FAIRFAX, Va. (Reuters) – A Virginia state court judge on Tuesday rejected a request by the U.S. unit of Volkswagen AG (VOWG_p.DE) to delay several of the company’s trials over excess emissions because it fears “inflammatory” comments made by a lawyer representing car owners in a TV documentary will prejudice the jury. Fairfax County…
[ad_1] The Competition Bureau says it has reached an agreement with Leon’s Furniture Ltd. and the Brick Ltd. regarding allegations of deceptive marketing practices. As part of the settlement, Leon’s and the Brick have agreed to each donate $750,000 worth of home furnishings over two years to charities to be approved by the regulator. The…
[ad_1] WASHINGTON (Reuters) – A federal judge on Tuesday denied a request by AT&T Inc (T.N) to compel the U.S. Justice Department to disclose any records of communications between the White House and government lawyers that detail President Donald Trump’s views on the company’s proposed $85 billion merger with Time Warner Inc (TWX.N). The Justice…
[ad_1] BERLIN (Reuters) – Audi (NSUG.DE) Chief Executive Rupert Stadler has rejected suggestions he is about to be ousted and believes he has the support of parent company Volkswagen (VOWG_p.DE), a German newspaper reported on Tuesday. “It is not possible to stop that speculation from coming up again and again,” Stadler was quoted as telling…
[ad_1] (Reuters) – Xerox Corp shareholders Carl Icahn and Darwin Deason said on Tuesday the U.S. company should seek to sell itself to one of its rivals or a private equity firm. Xerox could combine with a competitor that is actually willing to pay a significant premium, or Japan’s Fujifilm Holdings themselves would step up…
[ad_1] (Reuters) – A steep fall in Walmart shares put the skids on the blue-chip Dow’s six-day winning streak, but gains in Amazon and technology stocks propped up the S&P 500 and the Nasdaq. The world’s biggest brick-and-mortar retailer (WMT.N) reported a lower-than-expected profit and posted a sharp drop in online sales growth during the…
[ad_1] (Reuters) – U.S. semiconductor company Qualcomm Inc (QCOM.O) on Tuesday unveiled a sweetened $44 billion agreement to acquire NXP Semiconductors NV (NXPI.O), its most defiant move in its defense against a hostile $121 billion bid from Broadcom Ltd (AVGO.O). The new deal puts pressure on Broadcom to decide if it will stick with a…
[ad_1] The Adecco Group, a global HR services firm headquartered in Switzerland, announced today that it has acquired Vettery. The financial terms were not disclosed, but a source with knowledge of the deal told us that the price was a little over $100 million. (It’s not clear how much of that is cash versus stock.)…
[ad_1] President Donald Trump’s decision to hit imports of Canadian solar energy modules with staggering tariffs, starting this month, has sparked another court battle over the extent of his powers to push through his America First agenda. Three Ontario-based manufacturing companies are suing the U.S. government in the U.S. Court of International Trade over a…
[ad_1] Canadian wholesale sales fell surprisingly for the first time in three months in December as sales in five of the seven sectors tracked marked declines. Wholesale sales were down 0.5 per cent to $63 billion in the month – well below economists’ forecast of a 0.4 per cent increase. Sales dropped in five of the seven sectors, which…
[ad_1] TOULOUSE, France (Reuters) – Airbus got a boost for its largest twin-engined jet on Tuesday when Qatar Airways said it was considering upgrading some of its A350 orders to the largest model as it took delivery of the first such plane. The A350-1000 is designed to seat 366 people and competes head-to-head with Boeing’s…
[ad_1] NEW YORK (Reuters) – U.S. retailer Walmart Inc (WMT.N) on Tuesday reported a lower-than-expected quarterly profit and posted a sharp drop in online sales growth during the critical holiday period, sending its shares tumbling more than 9 percent. Even as comparable sales in the U.S. market rose for the 14th consecutive quarter, Walmart’s online…
[ad_1] (Reuters) – Home Depot Inc’s (HD.N) profit and revenue topped Wall street estimates for the sixth straight quarter as more shoppers visited the No.1 U.S. home improvement chain and, on average, spent more in an improving housing market. Shares of Home Depot, which raised its quarterly dividend by 15.7 percent to $1.03 per share,…
[ad_1] The arrival of Stride, Atlassian’s Slack competitor, was probably the company’s biggest launch of 2017. While the company generally allows developers to easily integrate with its products, Stride’s API remained in closed beta for significantly longer than the product itself, which exited beta last September. Today, however, Atlassian is opening the Stride API to…
[ad_1] Thomson Reuters Corp. said on Tuesday chief executive officer Jim Smith is in stable condition after an arrhythmia incident on Feb. 12 and is expected to be released from hospital within the next two weeks. Last week, the company said Smith was taken to a Toronto hospital after feeling unwell and was under observation…
[ad_1] TOULOUSE, France (Reuters) – Airbus (AIR.PA) is not planning a larger A350 jet and will focus on developing existing versions of the widebody aircraft, an executive said on Tuesday. Last summer, the European planemaker shelved tentative plans for a bigger A350 that would compete more directly with Boeing’s (BA.N) new 777X plane currently under…
[ad_1] Walmart reported a fourth-quarter profit that missed Wall Street expectations and struggled with slower e-commerce sales during the period. Its shares slipped more than nine cent shortly after stock markets opened on Tuesday. Still, the world’s largest retailer announced better-than-expected sales overall and higher customer counts as the company overhauls its stores and its online…
[ad_1] When a crisis happens and your system is down, it’s easy for panic and chaos to ensue. Large companies use a range of tools to monitor system health, and finding the source of the problem and ensuring the proper personnel are involved is not always easy. That’s where xMatters comes in. It acts as…
[ad_1] LONDON (Reuters) – The emergence of self-driving electric cars and travel sharing are set to dent oil consumption by 2040, oil and gas giant BP (BP.L) said, forecasting a peak in demand for the first time. In its benchmark annual Energy Outlook, BP forecast a 100-fold growth in electric vehicles by 2040, with its…
[ad_1] (Reuters) – U.S. stocks opened lower on Tuesday, hurt by a rise in bond yields and disappointing quarterly results from Walmart. The Dow Jones Industrial Average .DJI fell 145.61 points, or 0.58 percent, to 25,073.77. The S&P 500 .SPX lost 11.56 points, or 0.423099 percent, to 2,720.66. The Nasdaq Composite .IXIC dropped 30.24 points,…
[ad_1] Licensed marijuana producer Aphria Inc. is reducing the amount of cash it is offering for medical cannabis firm Nuuvera Inc. The company says it lowered the offer after reaching an agreement with Nuuvera. Aphria says it is now offering 60 cents in cash plus 0.3546 of an Aphria share for each Nuuvera share. That…
[ad_1] On Tuesday, the city will be look at a new law that would limit the number of payday loan outlets at 15 and no more than one per ward. As of Jan. 1, the province brought in new rules under Bill 59, the Putting Consumers First Act, allowing local municipalities to regulate the location…
[ad_1] NEW YORK (Reuters) – Retail behemoth Walmart Inc (WMT.N) on Tuesday reported a lower-than-expected quarterly profit and posted a sharp drop in online sales growth during the critical holiday period, sending its shares slumping more than 6 percent in premarket trade. Even as comparable sales in the U.S. market rose for the 14th consecutive…
[ad_1] Canada and India have secured a two-way investment deal worth $1 billion covering a range of sectors from natural health products to artificial intelligence. Prime Minister Justin Trudeau made the announcement on Tuesday in Mumbai during his trade trip to India. Canadian and private companies signed 66 new commercial contracts and agreements, his office said, in a deal expected…
[ad_1] (Reuters) – U.S. grocery chain operator Albertsons Companies Inc said on Tuesday it would buy drugstore chain Rite Aid Corp (RAD.N) in a cash-and-stock deal to create a company with $83 billion in revenue. Rite Aid shares rose as much as 31 percent in premarket trading and were set to open at more than…
[ad_1] NEW YORK (Reuters) – U.S. retailer Walmart Inc (WMT.N) on Tuesday reported a lower-than-expected quarterly profit even as comparable sales in the U.S. market rose for the 14th consecutive quarter. Sales at U.S. stores open at least a year rose 2.6 percent, excluding fuel, in the fourth quarter ended Jan. 31. Analysts forecast a…
[ad_1] (Reuters) – U.S. chipmaker Qualcomm Inc raised its offer to buy NXP Semiconductors NV to $127.50 per share from $110, after being pressured by shareholders led by activist hedge fund Elliott Management Corp. Qualcomm said it need to buy a minimum 70 percent of NXP’s outstanding shares in a tender offer, instead of the…
[ad_1] (Reuters) – Home Depot Inc’s (HD.N) quarterly profit beat market estimates for the sixth straight quarter as the No.1 U.S. home improvement chain drew in more shoppers who spent more on average amid an improving housing market. The company also increased its quarterly dividend by 15.7 percent to $1.03 per share. Sales at stores…
[ad_1] HONG KONG/LONDON (Reuters) – HSBC Holdings (HSBA.L) reported a smaller than expected rise in annual profits and unveiled plans to raise up to $7 billion to bolster its capital, as CEO Stuart Gulliver hands over to a new leadership team on Tuesday. Gulliver is stepping down after more than seven years at the helm…
[ad_1] TOKYO (Reuters) – Toyota Motor Corp (7203.T) has found a way to reduce the amount of a key rare earth metal used in magnets for electric car motors by around 20 percent, which could tame the cost of producing electric cars and reduce the risk of a supply shortage of materials needed for their…
[ad_1] LONDON (Reuters) – Rupert Murdoch’s Twenty-First Century Fox has strengthened its offer to protect the independence of Sky’s loss-making news channel in a bid to overcome regulatory concerns about the takeover of the parent company. Britain’s competition regulator has said that Fox’s $15.7 billion deal to buy the 61 percent of Sky it does…
[ad_1] (Reuters) – U.S. grocery chain operator Albertsons Companies Inc (ABS.N) plans to buy the part of Rite Aid Corp (RAD.N) that is not being bought by Walgreens Boots Alliance Inc (WBA.O), the Wall Street Journal reported on Tuesday. The drug store operator and Albertsons together are valued at around $24 billion, including debt, WSJ…
[ad_1] LONDON (Reuters) – A six-day rebound in world stocks began to splutter on Tuesday, as bond market borrowing costs regained traction and the dollar kicked firmly away from a three-year low. Europe’s main bourses saw steady start as lower domestic currencies helped their cause [.EU] but weakness across Asia where Tokyo saw a 1…
[ad_1] PARIS (Reuters) – Fashion labels may be falling over themselves to court young, smartphone-wielding shoppers, but there’s one millennial-inspired trend that is only catching on slowly: catwalk shows where clothes are available to buy instantly rather than months later. The timing of product drops is becoming an experimental battlefield for luxury goods companies juggling…
[ad_1] PARIS (Reuters) – LVMH (LVMH.PA), the world’s biggest luxury goods group, named on Tuesday Serge Brunschwig as the new chairman and chief executive of its Fendi fashion house, as part of an internal reshuffle. Brunschwig will replace Pietro Beccari, who will now become the Chairman and CEO of LVMH’s Christian Dior Couture arm. Brunschwig…
[ad_1] TOKYO (Reuters) – Asian stocks slipped on Tuesday, their recent recovery stalling after European equities broke a winning streak, while the dollar edged further away from three-year lows. Spreadbetters expected a mixed start for European stocks, with Britain’s FTSE seen rising 0.1 percent, Germany’s DAX dropping 0.1 percent and France’s CAC dipping 0.07 percent.…
[ad_1] NEW YORK (Reuters) – Throughout 2016 and 2017, a rail terminal built to accept crude oil for the largest East Coast refinery often sat idle, with few trains showing up to unload. Although little oil flowed, plenty of money did. Under a deal Philadelphia Energy Solutions (PES) signed in 2015, the refiner paid minimum…
[ad_1] HOUSTON (Reuters) – Some publicly-traded U.S. energy pipeline and oil-storage partnerships are restructuring into simpler business models to help attract new investors and spur growth. Rising oil and gas production has spawned billions of dollars of new transport, gathering and storage projects. But the companies most responsible for these projects can allocate up to…
[ad_1] SEOUL (Reuters) – General Motors Co (GM.N) plans to produce two new models in South Korea, a local lawmaker quoted GM executive Barry Engle as saying at a meeting with South Korean members of parliament. Engle, president of GM International, did not elaborate on whether GM’s plan for the two new car models were…
[ad_1] SEOUL (Reuters) – General Motors (GM.N) has offered to convert debt of around $2.2 billion owed by its ailing South Korean operation into equity in exchange for financial support and tax benefits from Seoul, four sources with direct knowledge of the matter said. The restructuring proposal comes after the Detroit automaker announced last week…
[ad_1] TOKYO (Reuters) – Samsung Electronics Co (005930.KS) will slash output of its organic light-emitting diode (OLED) panels in response to its customer Apple Inc’s (AAPL.O) decision to cut production of iPhone X amid weak demand, the Nikkei reported on Tuesday. Samsung Display now plans to make OLED panels for 20 million or fewer iPhones…
[ad_1] TOKYO (Reuters) – Asian stocks slipped on Tuesday, their recent recovery stalling after European equities broke a winning streak, while the dollar edged up to pull further away from three-year lows. MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.5 percent. Australian stocks fell 0.3 percent, South Korea’s KOSPI lost 0.7 percent and…
[ad_1] LONDON (Reuters) – Britain’s financial sector will be “the servant of industry not the masters of us all” if the opposition Labour Party gets into power, its leader Jeremy Corbyn will say on Tuesday, accusing bankers of taking the economy hostage. Corbyn, a socialist who has won over many voters with his promises to…
[ad_1] TOKYO (Reuters) – Asian stocks dipped on Tuesday, their recent recovery slowing after European equities broke a winning streak run, while the dollar held firm after bouncing from three-year lows. MSCI’s broadest index of Asia-Pacific shares outside Japan edged down 0.1 percent. Australian stocks dipped 0.45 percent. Japan’s Nikkei shed 0.4 percent after three…
[ad_1] TOKYO (Reuters) – More than half of Japan’s companies do not plan to raise base pay in annual wage talks in coming months, a set back for the prime minister and the country’s main business lobby which has called for wage rises of 3 percent to fuel an economic revival. In a monthly Reuters…
[ad_1] LONDON (Reuters) – Bitcoin BTC=BTSP has failed as a currency measured by standard benchmarks, and is neither a store of value nor a useful way to buy things, Bank of England Governor Mark Carney said on Monday. “It has pretty much failed thus far on … the traditional aspects of money. It is not…
[ad_1] (Reuters) – The world’s biggest asset manager BlackRock Inc (BLK.N) upgraded its view on U.S. stocks, citing very strong earnings momentum, while cutting European stocks to neutral. In a note on Monday, BlackRock’s global chief investment strategist Richard Turnill pointed to tax cuts in the United States and government spending plans as driving earnings…
[ad_1] The B.C. government is challenging Alberta’s ban on B.C. wines through the Canadian Free Trade Agreement’s (CFTA) dispute settlement process. According to a release, the province has notified the Alberta government that it is formally requesting consultations under the CFTA regarding Alberta’s embargo on the sale of B.C. wine. “Alberta’s actions threaten the livelihood of the families that have…
[ad_1] The railway division of Bombardier Inc. says losing out on a large electric train contract in Montreal may force it to lay off workers this fall at its plant in La Pocatiere, Que., unless it wins some new contracts. Spokesman Eric Prud’homme describes the situation for the facility as perilous once the contract to…
[ad_1] BRUSSELS (Reuters) – Uber said on Monday it would suspend operations in Morocco, two years after they began, as it tries to bring its business into line with local laws. Uber has already halted services in Norway and Finland as it waits for the regulatory framework to change in those countries, a sign of…
[ad_1] LONDON (Reuters) – The value of global mining and metals deals hit a four-year high in 2017, according to accountancy firm EY, as financial distress abated and companies sold off non-core assets. Mining and metals deals totaled $51 billion last year, up 15 percent from 2016 and dominated by coal and steel transactions, although…
[ad_1] LONDON (Reuters) – Taxi app Uber [UBER.UL] is dropping a legal appeal against the introduction of more stringent English language tests for drivers in London after the city’s transport regulator said it would water down its stringent proposals. Uber took legal action in 2016 against Transport for London (TfL) after it said drivers should…
[ad_1] KIEV (Reuters) – For the first time in Ukraine’s history, U.S. anthracite is helping to keep the lights on and the heating going this winter following a deal that has also helped to warm Kiev’s relations with President Donald Trump. The Ukrainian state-owned company that imported the coal told Reuters that the deal made…
[ad_1] LONDON (Reuters) – World stocks were set to post their first loss in five days on Monday, breaking a winning streak that saw them recover almost half their losses from a violent sell-off two weeks ago. In a day of relatively quiet trading owing to market holidays in the United States and China, losses…
[ad_1] LONDON (Reuters) – The world’s biggest asset manager BlackRock has upgraded its view on U.S. equities to “overweight”, citing very strong earnings momentum, while cutting European stocks to neutral. In a note on Monday, BlackRock’s global chief investment strategist Richard Turnhill pointed to tax cuts in the United States and government spending plans as…
[ad_1] LONDON (Reuters) – Fast-food chain KFC said on Monday it had been forced to close hundreds of its British stores because of a shortage of chicken. The problem arose at the weekend after the chain switched its delivery contract to DHL, forcing the majority of its 900 outlets in Britain to shut. “We’ve brought…
[ad_1] The Newfoundland and Labrador government launched a new plan on Monday for growing its oil and gas sector. Highlights of Advance 2030 include doubling offshore oil production by 2030 through reducing development time for projects. Targets for the plan include drilling more than 100 new exploration wells, and tapping into multiple basins to produce more than 650,000…
[ad_1] European shares drifted lower Monday as investors paused for breath following a sizeable rally last week. Despite the move lower, there are few signs of the turmoil that gripped stock markets earlier this month. In Europe, Germany’s DAX was down 0.3 per cent at 12,412 while the FTSE 100 index of leading British shares…
[ad_1] FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) is cutting at least 250 investment banking jobs in locations including London and the United States, a person familiar with the matter told Reuters, adding that the figure could rise to as many as 500. Bloomberg earlier cited sources saying that Deutsche is trimming senior and mid-level investment…
[ad_1] MOSCOW (Reuters) – Russian billionaire Oleg Deripaska plans to step down as the president of the two companies he controls – aluminum giant Rusal (0486.HK) and En+ Group (ENPLq.L), two sources familiar with the matter told Reuters. The change comes less than a month after the inclusion of Deripaska and dozens of Russian billionaires…
[ad_1] WASHINGTON (Reuters) – Jolted by the global investment craze over bitcoin and other cryptocurrencies, U.S. lawmakers are moving to consider new rules that could impose stricter federal oversight on the emerging asset class, several top lawmakers told Reuters. Bipartisan momentum is growing in the Senate and House of Representatives for action to address the…
[ad_1] Softwood lumber duties aren’t dampening the spirits of Canadian lumber producers as strong demand from rising U.S. housing starts and tight supply are expected to keep prices high throughout 2018. The number of U.S. housing starts beat expectations by surpassing 1.33 million in January on a seasonally adjusted basis, with single family starts increasing 7.6…
[ad_1] SINGAPORE (Reuters) – Singapore’s competition commission said on Monday it plans to do further in-depth assessment of the tie-up between the city-state’s top taxi operator, ComfortDelGro, and Uber [UBER.UL], after an initial review. The agency said it had requested further information from both parties to be submitted by March 5, after which it will…
[ad_1] LONDON (Reuters) – World stocks were set for a sixth session of gains on Monday, extending a recovery from a selloff sparked by fears of creeping inflation and higher borrowing costs. Gains were marginal however, and scored largely in Asian markets, with Japan’s Nikkei 225 up 2 percent. European bourses gave up initial gains…
[ad_1] SEOUL (Reuters) – South Korean President Moon Jae-in said on Monday General Motors Co’s (GM) (GM.N) decision to shut down a factory south of Seoul will hurt that region, and called upon his administration to take measures to boost economic activity there. GM announced last week it will shutter the plant in the city…
[ad_1] SHANGHAI (Reuters) – China’s tech giants Alibaba Group Holding Ltd (BABA.N) and Tencent Holdings Ltd (0700.HK), worth a combined $1 trillion, are on a retail investment binge, forcing merchants to choose sides amid a battle for shoppers’ digital wallets. Since the start of last year, the two companies have between them spent more than…
[ad_1] Trust in what we read online is eroding quickly, and social media and “Big Tech” are facing blame. It’s even reaching a tipping point for advertisers, who are threatening to pull their ad dollars from the digital domain unless things change — fast. “Consumers don’t trust what they see online.” That was a central theme in a speech by Unilever’s chief…
[ad_1] If you are one of the majority of Canadians celebrating Family Day today, maybe you thought the day’s plans were based on an amicable consensus with each member having an equal voice. That’s not how the proponents of a growing branch of study called “family economics” see it. Instead, harmonious decision disguised a battle. Rather than being the…
[ad_1] TOKYO (Reuters) – Asian shares gained on Monday, joining a global recovery for equity markets as sentiment improved gradually from a recent shakeout that was sparked by fears of creeping inflation and higher borrowing costs. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5 percent, having recovered more than 40 percent of its…
[ad_1] SEOUL (Reuters) – South Korean President Moon Jae-in said on Monday General Motors Co’s (GM.N) decision to shut down a factory south of Seoul will be a blow to the region and asked relevant government ministries to take measures to shore up economic activity there. Moon also asked his government to act sternly in…
[ad_1] MUMBAI/NEW DELHI (Reuters) – Indian investigators closed down a branch of a state-run bank that is at the heart of a $1.77 billion fraud and questioned more of its employees as they probed the biggest scam in the country’s banking history, police sources said on Monday. Three people, including two employees of Punjab National…
[ad_1] SEOUL (Reuters) – South Korean President Moon Jae-in said on Monday General Motors’ (GM.N) decision to shut down a factory south of Seoul will be a blow to the region and asked relevant government ministries to take measures to shore up economic activity there. GM announced last week it will shutter the plant in…
[ad_1] NEW DELHI (Reuters) – India’s federal police has sealed the Mumbai branch of Punjab National Bank (PNBK.NS) at the center of a $1.77 billion loan fraud involving billionaire jeweler Nirav Modi, state television said on Monday. Three people including two employees of Punjab National Bank, India’s second largest state lender, have been arrested in…
[ad_1] LONDON (Reuters) – It’s the burning question in the oil industry: when will Saudi Arabia pull the trigger on the Aramco stock market listing? Many industry experts are focusing on the current level of oil prices. However another key consideration for Saudi officials in floating up to 5 percent of the state oil producer…
[ad_1] TOKYO (Reuters) – Asian shares ticked up on Monday, joining a global recovery for equity markets as sentiment improved gradually from a recent shakeout that stemmed from fears of creeping inflation and higher borrowing costs. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4 percent, having recovered more than 40 percent of their…
[ad_1] TOKYO (Reuters) – Japan’s Mizuho Financial Group Inc (8411.T) sees a pickup in overseas lending after a slowdown last year in the United States, where a recently enacted corporate tax cut is widely expected to spur mergers and acquisitions (M&As). Major Japanese banks are placing increased emphasis on lending abroad, particularly in busy M&A…
[ad_1] BEIJING/SHANGHAI (Reuters) – Danish toymaker Lego is hoping to build a following with Chinese parents by promoting its place in the classroom as well as the toy box. The firm, famous for its brightly colored building blocks, is working with local education departments, state schools and the private education providers to get kids playing…
[ad_1] NEW DELHI/MUMBAI (Reuters) – The Punjab National Bank branch in south Mumbai sits just down the road from both the Bombay Stock Exchange and the Reserve Bank of India, at a physical center of one of the world’s fastest growing major economies. The branch, clad in a stately colonial edifice, is now also at…
[ad_1] PARIS (Reuters) – French couture house Chanel has taken a minority stake in London-based online retailer Farfetch, the companies said on Monday, as part of a tie-up to develop digital services such as chats to connect the label’s clients with store assistants. Luxury goods companies worldwide are trying to expand their digital services to…
[ad_1] Two years after a blue-ribbon panel called on the Alberta government to encourage partial upgrading of bitumen from the oilsands to enhance value and free up more pipeline room for exports, the idea remains years away from commercialization. In its royalty review report in January 2016, the panel led by ATB Financial CEO Dave…
[ad_1] TOKYO (Reuters) – Japan’s Mizuho Financial Group Inc (8411.T) sees a pickup in overseas lending after a slowdown last year in the United States, where a recently enacted corporate tax cut is widely expected to spur mergers and acquisitions (M&As). Major Japanese banks are placing increased emphasis on lending abroad, particularly in busy M&A…
[ad_1] NEW YORK (Reuters) – Bond investors, who have been on edge over signs of growing inflation and a possibly more aggressive Federal Reserve, will have their work cut out for them as the U.S. government seeks to sell $258 billion worth of debt this coming week. The Treasury Department began ramping up its debt…
[ad_1] NEW DELHI/MUMBAI (Reuters) – The Punjab National Bank branch in south Mumbai sits just down the road from both the Bombay Stock Exchange and the Reserve Bank of India, at a physical center of one of the world’s fastest growing major economies. The branch, clad in a stately colonial edifice, is now also at…
[ad_1] DUBAI/KHOBAR, Saudi Arabia (Reuters) – Saudi Arabia’s cabinet has approved a bankruptcy law, sources familiar with the matter said on Sunday, giving a boost to efforts to make the kingdom more enticing to investors. Modern bankruptcy legislation does not currently exist in Saudi Arabia, creating difficulties for struggling companies seeking to restructure debt with…
[ad_1] MUMBAI (Reuters) – India’s Reliance Industries Ltd and global technology companies will invest 600 billion rupees ($9.34 billion) over 10 years to set up an integrated industrial area in the western state of Maharashtra, the company’s chairman Mukesh Ambani said. More than 20 global firms including Cisco, Siemens, Corning Inc., HP, Dell, Nokia and…
[ad_1] BERLIN (Reuters) – U.S. investigators probing Mercedes maker Daimler (DAIGn.DE) have found that its cars were equipped with software which may have help them to pass diesel emissions tests, a German newspaper reported on Sunday, citing confidential documents. There has been growing scrutiny of diesel vehicles since Volkswagen (VOWG_p.DE) admitted in 2015 to installing…
[ad_1] Opposition is mounting to a media coalition’s plan to block Canadians from accessing piracy websites. Many people fear that the plan — backed by big players such as Bell, Rogers, and CBC — could lead to rampant internet censorship. “It starts with ‘blocking piracy’ and ends with corporations blocking information that opposes their goals and viewpoints,” wrote Thomas…
[ad_1] Miss something this week? Don’t panic. CBC’s Marketplace rounds up the consumer and health news you need. Want this in your inbox? Get the Marketplace newsletter every Friday. Watch out for this phone scam A new phone scam targets landlines. The call comes from a “retailer” recommending victims contact the police because their credit card is being used fraudulently.…
[ad_1] (Reuters) – U.S. semiconductor company Qualcomm Inc should try to negotiate a sale to Broadcom Ltd following the latter’s sweetened $121 billion offer, proxy advisory firm Institutional Shareholder Services Inc (ISS) said. Qualcomm has been seeking to walk a fine line between resisting Broadcom’s acquisition approach, which it says undervalues it and is fraught…
[ad_1] NEW DELHI (Reuters) – Indian banks could take a hit of more than $3 billion from loans and corporate guarantees provided to diamond companies at the center of a massive alleged fraud at the state-run Punjab National Bank, the tax department has estimated. As of March 2017, banks had extended loans and guarantees worth…
[ad_1] WILMINGTON, Del. (Reuters) – Takata Corp’s U.S. unit received court approval for its bankruptcy exit plan, a plaintiffs’ law firm said on Saturday, clearing the way for a $1.6 billion sale of Takata assets and providing compensation for those injured by the company’s deadly air bags. Takata and its U.S. unit, TK Holdings Inc,…
[ad_1] NEW DELHI (Reuters) – Indian banks could take a hit of more than $3 billion from loans and corporate guarantees provided to diamond companies at the center of a massive alleged fraud at the state-run Punjab National Bank, the tax department has estimated. As of March 2017, banks had extended loans and guarantees worth…
[ad_1] Canadians are withdrawing more money from their retirement savings to pay for short-term expenses despite the tax consequences, according to a new bank survey. About 40 per cent of the 1,500 people polled online in December by the Bank of Montreal (BMO) said they have made a withdrawal from their RRSP. The average amount withdrawn from…
[ad_1] Thirty years after Spitz sunflower seeds first sprouted in Alberta, the last factory in the province is set to shut down. PepsiCo is closing the Bow Island processing plant in July, and laying off 53 workers from the small community of just 2,000 residents in the process. “Most of our businesses are small business that employ…
[ad_1] (Reuters) – General Electric Co (GE.N) is exploring a sale of its industrial gas engine business that could be worth as much as $2 billion, according to people familiar with the matter. The move comes after Chief Executive Officer John Flannery, who took over as CEO last summer, indicated to analysts and investors for…
[ad_1] CHICAGO (Reuters) – U.S. grain merchant Archer Daniels Midland Co has settled a lawsuit with Syngenta over the seed company’s launch of a biotech corn strain that roiled grain exports to China, according to regulatory documents filed on Friday. ADM sued Syngenta four years ago for selling the corn variety known as Agrisure Viptera…
[ad_1] NEW YORK (Reuters) – U.S. stock markets are unlikely to return to the unusually calm conditions seen last year, even though equities have already recovered more than half the ground lost in the recent selloff and traders have rapidly dialed down fear. Stock market volatility spiked to a multi-year high in the selloff and…
[ad_1] WASHINGTON (Reuters) – The U.S. Department of Justice on Friday moved to prevent AT&T Inc (T.N) from arguing that politics played a role in the government’s decision to stop its merger with Time Warner Inc (T.N), a deal that President Donald Trump had publicly criticized. “There was no selective enforcement,” Justice Department lawyer Craig…
[ad_1] (Reuters) – Wynn Resorts Ltd (WYNN.O) said on Friday that former Chief Executive Officer Steve Wynn was not entitled to severance payments or any other compensation. Wynn, 76, resigned as CEO of the company earlier this month after allegations of sexual misconduct. An exterior view of Encore and Wynn properties in Las Vegas, Nevada,…
[ad_1] NEW YORK (Reuters) – Warren Buffett had a Valentine’s Day surprise for investors in Teva Pharmaceutical Industries Ltd (TEVA.TA). A regulatory filing with the U.S. Securities and Exchange Commission (SEC), known as a 13F, showed that Buffett’s Berkshire Hathaway Inc (BRKa.N) took a stake in the generic drugmaker in the fourth quarter of 2017.…
[ad_1] NEW YORK (Reuters) – The S&P 500 rose marginally on Friday to mark its biggest weekly increase in five years, although earlier gains evaporated after the indictment of Russians for meddling in the 2016 presidential election sent investors into defensive mode before a long weekend. A market correction sparked by inflation concerns earlier in…
[ad_1] WASHINGTON (Reuters) – The U.S. Department of Justice on Friday moved to prevent AT&T Inc (T.N) from arguing that politics played a role in the federal government’s decision to stop its merger with Time Warner Inc (T.N), a deal that President Donald Trump had publicly criticized. “There was no selective enforcement,” Justice Department lawyer…
[ad_1] BOSTON (Reuters) – A New Jersey trader filed a lawsuit against Fidelity Investments, accusing it of “gross negligence” because he could not make trades on the company’s website earlier this month during a volatile time on the stock market. The complaint by Christopher Musso comes after mutual fund company Fidelity, which also operates one…
[ad_1] SAN FRANCISCO (Reuters) – Some potential buyers of Tesla’s long-delayed Model 3 sedan are concerned that they will miss out on big federal tax breaks and are looking for alternatives, including General Motors Co’s (GM.N) Chevrolet Bolt, according to postings by would-be Tesla buyers on websites and interviews with GM dealers. Last week Tesla…
[ad_1] NEW YORK (Reuters) – Wall Street squeezed out a gain on Friday to end higher for a sixth straight session, although it lost earlier ground after a U.S. grand jury indicted several Russians for interfering in the 2016 presidential election. The Dow Jones Industrial Average .DJI rose 19.69 points, or 0.08 percent, to 25,220.06,…
[ad_1] MUNICH (Reuters) – The head of Airbus’s defense unit criticized Germany on Friday for not spending more on defense and said the new coalition agreement’s call for a tougher approach to arms exports could prompt the weapons maker to re-examine its business plans. A coalition deal between German Chancellor Angela Merkel and the center-left…
[ad_1] The Liberal government will not “act in an impulsive way” in response to U.S. corporate tax cuts that economists say pose a threat to Canada’s competitiveness, the federal finance minister said after a pre-budget meeting Friday. Bill Morneau said the government is conducting careful analysis in connection with U.S. President Donald Trump’s sweeping tax…
[ad_1] Oracle announced yesterday that it intends to acquire Zenedge, a 4-year old hybrid security startup. They didn’t reveal a purchase price. With Zenedge, Oracle gets a security service to add it to its growing cloud play. In this case, the company has products to protect customers whether in the cloud, on-prem or across hybrid…
[ad_1] (Reuters) – U.S. stocks rose for a sixth straight session on Friday, putting the S&P 500 and the Nasdaq on course for their best week in more than six years, strengthening Wall Street’s pullback after a brutal selloff earlier this month. The markets gave up a chunk of the gains after U.S. Special Counsel…
[ad_1] (Reuters) – Qualcomm Inc (QCOM.O) on Friday called a meeting with Broadcom Ltd (AVGO.O) to discuss the latter’s $121 billion bid constructive and opened the door to more talks, but continued to reject the proposed deal between the semiconductor companies. Qualcomm’s response raises the stakes in a battle over what would be the technology…
[ad_1] (Reuters) – Uber Technologies [UBER.UL] is preparing to sell its Southeast Asia ride-hailing business to Singapore-based Grab in return for a substantial stake in the company, CNBC reported, citing two sources familiar with the matter. No deal has been reached yet and the timing of any deal is uncertain, the report said. (cnb.cx/2ELxfmZ) Reuters…
[ad_1] NEW YORK (Reuters) – General Electric Co was sued on Friday by a shareholder who accused the conglomerate of concealing mounting insurance liabilities and a U.S. Securities and Exchange Commission probe, costing shareholders tens of billions of dollars. The complaint filed by the Cleveland Bakers and Teamsters Pension Fund appears to be the first…
[ad_1] (Reuters) – Intel Corp said on Friday shareholders and customers had filed 32 class action lawsuits against the company in connection with recently-disclosed security flaws in its microchips. Most of the lawsuits – 30 – are customer class action cases that claim that users were harmed by Intel’s “actions and/or omissions” related to the…
[ad_1] LOS ANGELES (Reuters) – Starbucks Corp (SBUX.O) said on Friday that Adam Brotman, who spearheaded the coffee shop chain’s successful digital initiatives including mobile ordering and its loyalty program, is leaving for an executive position at J. Crew. Brotman, who joined Starbucks in April 2009, most recently served as the Seattle-based company’s executive vice…
[ad_1] NEW YORK (Reuters) – Shareholders filed a proposed class-action lawsuit against General Electric Co (GE.N) on Friday, alleging the industrial conglomerate made misleading statements and failed to disclose information about an accounting investigation and about insurance policies that cost the company billions of dollars. The lawsuit filed by the Cleveland Bakers and Teamsters Pension…
[ad_1] The Bank of Canada should be pleased with a year-end rebound in the Canadian manufacturing sector, according to new report from Scotiabank. Statistics Canada said manufacturing sales in the fourth quarter of last year rose by about 2.8 per cent to $164.8 billion, driven in part by higher sales of petroleum and coal products, but mostly due to higher…
[ad_1] (Reuters) – Coca-Cola Co (KO.N) reported better-than-expected quarterly profit and sales on Friday as it sold more teas, coffees and vitamin water, offsetting sluggish sales of fizzy drinks, sending its shares up as much as 2 percent. Coke also said it planned to use cash it held overseas and savings generated from the U.S.…
[ad_1] (Reuters) – U.S. stocks swung between losses and gains on Friday as lower U.S. crude oil prices and disappointing earnings reports from Kraft Heinz and other consumer companies sapped some of the momentum built in the past five sessions. Still, even at current levels, Wall Street’s three major indexes are set for a strong…
[ad_1] The National Energy Board says work can begin on construction of the Trans Mountain pipeline’s tunnel entrance at Burnaby Mountain — as long as the company has permits from three levels of government. The NEB issued three decisions Thursday afternoon that allow workers on the Kinder Morgan project to do clearing and grading on…
[ad_1] A shortfall of railcars and crews have left shipments of grain and oil marooned on the Canadian Prairies. “Canada’s major railways have been struggling to keep up and the harsh winter weather hasn’t helped,” said Lynn Jacobson of the Alberta Federation of Agriculture. There have been reports that thousands of orders for cars have been…
[ad_1] Fiat Chrysler is recalling about 229,000 Ram trucks, mostly in North America, because they can be shifted out of park without a key in the ignition or a foot on the brake. The recall covers certain 1500, 2500 and 3500 pickups. Also included are 3500, 4500 and 5500 Chassis Cab trucks. All are from…
[ad_1] Air Canada’s fourth-quarter revenue and adjusted earnings came in ahead of analyst estimates, as the Montreal-based airline posted record-high annual revenue for 2017. Its adjusted net income was $61 million, or 22 cents per share for the quarter — ahead of analyst estimates of 14 cents per share, according to Thomson Reuters data. The…
[ad_1] (Reuters) – Kraft Heinz Co’s (KHC.O) quarterly profit and sales missed analysts’ estimates on Friday, hurt by lower shipments for nuts, natural cheese and cold cuts in the U.S. Shares of the company, which is backed by billionaire-investor Warren Buffett and private equity firm 3G Capital, fell marginally in premarket trading. Sales in the…
[ad_1] Bynder, one of the leading companies in the digital asset management space, today announced that it has acquired Shutterstock‘s Webdam. The Amsterdam-based company tells us that it paid $49.1 million for Webdam, which Shutterstock itself acquired back in 2014. Like Bynder, Webdam’s focus is on helping enterprises and agencies manage their digital assets. Currently Webdam…
[ad_1] (Reuters) – Coca-Cola Co (KO.N) reported a 20 percent fall in quarterly revenue on Friday as it continues to sell off its bottling operations, and recorded a $3.6 billion charge related to the new U.S. tax laws. The Fanta and Diet Coke maker reported a net loss of $2.75 billion, or 65 cents per…
[ad_1] LONDON (Reuters) – World shares were set to post their best week of gains in six years on Friday after two consecutive weeks spent in the red, shrugging off a rise in global borrowing costs while the dollar hit its lowest level since 2014. The MSCI world index of stocks, which tracks shares in…
[ad_1] NEW YORK (Reuters) – Warren Buffett had a Valentine’s Day surprise for investors in Teva Pharmaceutical Industries Ltd (TEVA.TA). A regulatory filing with the U.S. Securities and Exchange Commission (SEC), known as a 13F, showed that Buffett’s Berkshire Hathaway Inc (BRKa.N) took a stake in the generic drugmaker in the fourth quarter of 2017.…
[ad_1] MAGNITOGORSK, Russia (Reuters) – Unknown hackers stole 339.5 million roubles ($6 million) from a Russian bank last year in an attack using the SWIFT international payments messaging system, the Russian central bank said on Friday. The disclosure, buried at the bottom of a central bank report on digital thefts in the Russian banking sector,…
[ad_1] BERLIN (Reuters) – Audi (NSUG.DE) Chairman Matthias Mueller appealed to workers to ignore a media report that Chief Executive Rupert Stadler was about to be ousted, hoping to quell another outbreak of unrest at the diesel scandal-hit Volkswagen group. German tabloid Bild reported on its front page on Friday that Stadler would leave in…
[ad_1] SEOUL (Reuters) – Only weeks into a new job heading General Motors Co’s international operations, Barry Engle flew into a frigid South Korea in January and held a series of meetings with government officials to discuss the future of GM’s loss-making local unit. In what they thought were meet-and-greet introductions, senior officials agreed to…
[ad_1] MAGNITOGORSK, Russia (Reuters) – Unknown hackers stole 339.5 million rubles ($6 million) in an attack on the SWIFT international payments messaging system in Russia last year, the Russian central bank said on Friday. The disclosure, buried at the bottom of a central bank report on digital thefts at Russian banks, is the latest in…
[ad_1] A Quebec great-grandmother got money back and an apology from the bank after she was first led to believe she’d get nothing if she cancelled her life insurance policy. Ella Beck, 82, had been paying into her plan for more than a decade and was concerned about the ongoing costs. But she says the Bank of Montreal…
[ad_1] MEXICO CITY (Reuters) – When a Mexican real estate investment trust bought four hotels along the country’s Gulf coast operating under the Marriott, Quality Inn and Fiesta Inn brands, it expected the government’s recent energy reform to attract droves of oil executives, engineers and technicians. Instead, FibraHotel’s properties in Ciudad del Carmen and Villahermosa…
[ad_1] MUMBAI (Reuters) – Walmart Inc is in talks to purchase a stake of more than 40 percent in Indian e-commerce firm Flipkart, a direct challenge to Amazon.com Inc in Asia’s third-largest economy, two sources familiar with the matter said on Friday. In what would be one of its biggest overseas deals, the U.S. retailer…
[ad_1] TORONTO/MELBOURNE (Reuters) – As shareholders push the world’s cash-rich miners to maintain lush dividends and make the most of existing assets, Glencore is taking a slightly different tactic that positions it for shrewd acquisitions. Like other big rivals, Glencore is expected to lift its dividend payout when it reports results next week, but the…
[ad_1] BERLIN (Reuters) – Audi Chairman Matthias Mueller said on Friday that reports about an imminent ouster of Chief Executive Rupert Stadler are false. “Audi needs the full concentration of its management and the entire workforce under the proven leadership of Rupert Stadler to handle the current challenges and steer the brand further into the…
[ad_1] FRANKFURT (Reuters) – The chief executive of Volkswagen’s luxury unit Audi, Rupert Stadler, will be replaced in April because of his unsuccessful handling of the diesel emissions scandal, German daily Bild reported on Friday. VW unit Skoda’s head Winfried Vahland is seen as the top candidate to succeed him, the paper added. Audi was…
[ad_1] TORONTO (Reuters) – Canopy Growth Corp, one of the world’s biggest medical marijuana producers, now wants to take on the world’s pharmaceutical giants. The Canadian firm launched Canopy Health Innovation in late 2016 to build a portfolio of patented and federally approved cannabinoid-based medicines. The venture is one of a small but growing number…
[ad_1] (Reuters) – U.S. food and beverage company Kraft Heinz Co (KHC.O) had achieved the target of cutting $1.7 billion in costs by the end of 2017, the company said in a presentation on Thursday. The fifth-largest food and beverage company in the world, which would announce its quarterly results on Friday, said it slashed…
[ad_1] (Reuters) – U.S. regulators on Thursday killed the politically sensitive sale of the Chicago Stock Exchange (CHX) to a group led by China-based investors, saying a lack of information on the would-be buyers threatened the ability to properly monitor the exchange after the deal. The move by the Securities and Exchange Commission (SEC) ends…
[ad_1] (Reuters) – U.S. regulators on Thursday killed the politically sensitive sale of the Chicago Stock Exchange (CHX) to a group led by China-based investors, saying a lack of information on the would-be buyers threatened the ability to properly monitor the exchange after the deal. The move by the Securities and Exchange Commission (SEC) ends…
[ad_1] TOKYO (Reuters) – Asian shares rose for a fifth straight day on Friday as investor confidence slowly returns after a sharp sell-off earlier in the month, but the dollar continued its descent, hitting a three-year low against a basket of major currencies. U.S. debt yields stood near multi-year highs. Two-year note yields hit a…
[ad_1] (Reuters) – CBS Corp (CBS.N) topped Wall Street’s quarterly revenue and profit estimates on Thursday as U.S. and international distributors licensed more of its shows. The owner of the most-watched U.S. TV network said it also expects high single-digit revenue growth for 2018 and earnings per share growth in the high teens, ahead of…
[ad_1] (Reuters) – U.S. industrial conglomerate General Electric (GE.N) has reached a deal to sell parts of its overseas lighting business to a company controlled by former executive Joerg Bauer for an undisclosed amount. Bauer most recently served as President of GE Hungary where GE Lighting’s Europe, Middle East, Africa and Turkey business is headquartered,…