Archive November 2016

Thanksgiving, Black Friday store sales fall, online rises

Thanksgiving, Black Friday store sales fall, online rises

Published 28/11/2016

Shoppers stand in a checkout line during Black Friday sales at a Target store in Culver City, California, U.S. November 25, 2016. REUTERS/David McNew

Sales and traffic at U.S. brick-and-mortar stores on Thanksgiving Day and Black Friday declined from last year, as stores offered discounts well beyond the weekend and more customers shopped online.

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Porsche targets 20,000 electric car sales a year: Automobilwoche

Porsche targets 20,000 electric car sales a year: Automobilwoche

Published 28/11/2016

CEO of German carmaker Porsche, Oliver Blume, poses prior to the company's annual news conference in Stuttgart, southern Germany March 11, 2016. REUTERS/Michael Dalder

Volkswagen's Porsche division expects annual sales of about 20,000 for its first all-electric car, the Mission E, the luxury carmaker's chief executive told a German magazine.

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Race-track rivalry moves to boardroom as VW brands battle for electric car jobs

Race-track rivalry moves to boardroom as VW brands battle for electric car jobs

Published 28/11/2016

Nick Tandy of Britain drives his Porsche 919 Hybrid number 19 ahead the Audi R18 e-tron quattro number 7 driven by Marcel Fassler of Switzerland, during the Le Mans 24 Hours sportscar race in Le Mans, central France June 14, 2015. REUTERS/Regis Duvignau/File Photo

Just as Porsche and Audi have fought for supremacy on the race track, the Volkswagen brands are now locked in a cut-throat battle to develop and manufacture the next generation of electric cars at a group embroiled in the "Dieselgate" scandal.

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Australia’s Telstra failing to plug earnings hole with myriad of investments

Australia’s Telstra failing to plug earnings hole with myriad of investments

Published 28/11/2016

A man and power lines are reflected in a Telstra poster adorning a public telephone in Sydney, Australia, August 13, 2015. REUTERS/David Gray/File Photo

The ability of Australian telecoms company Telstra Corporation (TLS.AX) to offset the fall in its traditional revenue streams by diversifying into a range of technology and other businesses is in doubt.

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U.S. shoppers spend less over holiday weekend amid discounting

U.S. shoppers spend less over holiday weekend amid discounting

Published 28/11/2016

Demonstrators block access to a store during a protest intending to disrupt Black Friday shopping in Chicago, Illinois, November 25, 2016. REUTERS/Joshua Lott

Early holiday promotions and a belief that deals will always be available took a toll on consumer spending over the Thanksgiving weekend as shoppers spent an average of 3.5 percent less than a year ago, the National Retail Federation said on Sunday.

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Baker Hughes shares set to rise on GE deal: Barron`s

Baker Hughes shares set to rise on GE deal: Barron`s

Published 28/11/2016

The ticker and logo for General Electric Co. is displayed on a screen at the post where it's traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 30, 2016. REUTERS/Brendan McDermid

Shares of oilfield services company Baker Hughes Inc (BHI.N) could rise significantly if it completes its merger with General Electric Co's (GE.N) oil and gas division, according to a report in Barron's.

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Pilots at Lufthansa announce further strikes this week

Pilots at Lufthansa announce further strikes this week

Published 28/11/2016

Planes stand on the tarmac during a pilots strike of German airline Lufthansa at Frankfurt airport, Germany, November 23, 2016. REUTERS/Ralph Orlowski

German pilots union VC has announced further strikes at Lufthansa (LHAG.DE) for Tuesday and Wednesday this week after fresh talks at the end of a four-day walkout failed to settle their long-running pay dispute.

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China will stick to `going out` strategy amid outflow concerns

China will stick to `going out` strategy amid outflow concerns

Published 28/11/2016

People walk past the headquarters of the People's Bank of China (PBOC), the central bank, as two paramilitary police officials patrol around it in Beijing November 20, 2013. REUTERS/Jason Lee/File Photo

China said on Monday it will stick to its opening up policy and "going out" strategy on investment even while a slide in the yuan to 8-1/2-year lows revives worries about capital fleeing the country.

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Oil prices fall over doubts of planned crude output cut

Oil prices fall over doubts of planned crude output cut

Published 28/11/2016

An employee holds a gas pump at a petrol station in Sao Paulo, Brazil, November 8, 2016. REUTERS/Paulo Whitaker/File Photo

Oil prices fell on Monday, adding to Friday's steep losses as doubts re-emerged over the ability of major producers to agree output cuts at a planned meeting on Wednesday aimed at reining in global oversupply.

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