LEIPZIG, Germany (Reuters) – Volkswagen (VOWG_p.DE) will create joint ventures and help finance battery production to persuade skeptical cell suppliers to back its aggressive push for mass producing electric vehicles, board member Stefan Sommer told Reuters. V... More »
RIYADH/DUBAI (Reuters) – Saudi Arabian budget airline flyadeal will not proceed with a provisional $5.9 billion order for Boeing 737 MAX aircraft, instead opting for a fleet of Airbus A320 jets. Flyadeal has been reconsidering a commitment to order the Boeing ... More »
(Reuters) – Shared office space manager WeWork Cos is looking to raise $3 billion to $4 billion in debt before it goes public, a person familiar with the matter said on Sunday, a move aimed to fuel investor confidence in the company. The potential debt offerin... More »
(Reuters) – Amazon.com Inc (AMZN.O) founder Jeff Bezos’ divorce from his wife of 25 years, MacKenzie Bezos, was finalized by a Seattle-area judge on Friday, paving the way for her to receive $38.3 billion worth of Amazon stock, Bloomberg reported. In April, Am... More »
(This June 28 story corrects Romaco’s nationality to German, not Italian, in paragraph 17) By Silvia Aloisi CITTÀ DI CASTELLO, Italy (Reuters) – Amazon’s new recruit comes from a medieval walled town in central Italy and can box and seal at least 600 items of ... More »
(Reuters) – Britain’s competition regulator has stepped in to pause Amazon’s (AMZN.O) deal with online food delivery group Deliveroo while it considers launching a full investigation. Amazon led a $575 million fundraising in Deliveroo in May, making what the t... More »
LONDON/SYDNEY (Reuters) – Stocks rallied and bonds retreated on Monday as the United States and China agreed to restart trade talks, leading investors to pare wagers on aggressive policy easing by the major central banks. The dollar firmed on the safe-haven ye... More »
FRANKFURT (Reuters) – Euro zone lending growth held steady in May while a broader money supply indicator, which often foreshadows future activity, grew faster than expected, data showed on Monday, easing pressure on the European Central Bank to provide more st... More »
PARIS (Reuters) – International tensions over trade could have a positive outcome for agriculture by reviving efforts to reform the most ineffective of policies that distribute hundreds of billions of dollars to farmers each year, the OECD said. Nearly 70% of ... More »
SYDNEY (Reuters) – Australia’s Big Four lenders are pushing back on the regulator’s plan to require banks make detailed credit checks on borrowers to estimate loan affordability instead of relying on indices, with the No.2 lender saying such checks are not fea... More »
LONDON (Reuters) – The dollar and offshore Chinese yuan rallied on Monday after the United States and China agreed to restart their troubled trade talks, while the Japanese yen and Swiss franc were the big casualties as investors sold safe-haven currencies. Wh... More »
SATUN, Thailand (Reuters) – The son of a Thai fisherman, Anurak Saruethai never really took to life at sea. But seafood has been good to him. Hawking dried shrimp, squid and fish in nightly Facebook (FB.O) livestreams, Anurak, who is quick with a joke and adep... More »
MILAN (Reuters) – Italy’s biggest lender, UniCredit (CRDI.MI), will stick to organic growth in its new business plan, Chief Executive Jean Pierre Mustier said in an interview published in La Stampa newspaper on Monday, saying European mergers were difficult. “... More »
WASHINGTON (Reuters) – A now record-setting run of U.S. economic growth enters its 121st month on Monday, sustained by a decade of low interest rates and massive Federal Reserve intervention that helped put 22 million people back to work. But the real economic... More »
LONDON (Reuters) – Defensive equity strategies focused on high payouts and steady earnings have gained in popularity this year as investors flock to safety, worried the biggest stock market rally in decades is about to come crashing down. Investors have piled ... More »
(Reuters) – Rio Tinto (RIO.L)(RIO.AX) named Barbara Levi as its new general counsel and group executive on Monday, replacing Philip Richards. Levi, currently group legal head, M&A and strategic transactions at Novartis, will join the miner on Jan. 1, 2020. Sou... More »
WASHINGTON (Reuters) – President Donald Trump’s decision to allow expanded sales of U.S. technology supplies to Chinese telecommunications giant Huawei will only apply to products widely available around the world, and leave the most sensitive equipment off li... More »
BEIJING (Reuters) – As many as half of China’s breeding pigs have either died from African swine fever or been slaughtered because of the spreading disease, twice as many as officially acknowledged, according to the estimates of four people who supply large fa... More »
NEW YORK (Reuters) – When Amazon.com Chief Executive Jeff Bezos was spotted schmoozing in NFL Commissioner Roger Goodell’s booth during the Super Bowl in February, the media world exploded with anticipation about Amazon’s imminent domination of sports media. B... More »
LOS ANGELES (Reuters) – Theranos founder Elizabeth Holmes and her former second-in-command at the Silicon Valley blood-testing startup were ordered on Friday to stand trial next year on fraud charges stemming from their claims about the company’s technology, c... More »
(Reuters) – A profit warning from Mercedes-Benz maker Daimler dampened European stock markets early on Monday, as investors looked for direction to a G20 summit this week that brings U.S. and Chinese leaders together after a long lull in talks. Daimler AG’s sh... More »
DUBAI (Reuters) – Qatar is making $3 billion dollars worth of new investments in Pakistan, in the form of deposits and direct investments, state news agency QNA said on Monday. Following this investment, the economic partnership between Qatar and Pakistan will... More »
ISTANBUL (Reuters) – The Turkish lira, bonds and shares gained on Monday after the opposition dealt a stinging blow to President Tayyip Erdogan by winning control of Istanbul in a re-run mayoral election on Sunday. Turkish assets have lost value since March am... More »
NEW YORK (Reuters) – U.S. casino operator Eldorado Resorts Inc has agreed to merge with Caesars Entertainment Corp in a cash and stock deal that values its peer at about $18 billion including debt, people familiar with the matter said on Sunday. The agreement ... More »
MUMBAI (Reuters) – Reserve Bank of India (RBI) Deputy Governor Viral Acharya has resigned six months before the scheduled end of his term in office, citing personal reasons, the central bank said on Monday, confirming a media report. Acharya’s departure was no... More »
FRANKFURT (Reuters) – Daimler cut its 2019 earnings outlook on Sunday after lifting provisions for issues related to its diesel vehicles by hundreds of millions of euros, sending its shares lower on Monday. Group earnings before interest and tax this year are ... More »
TOKYO (Reuters) – Oil prices rose on Monday to extend gains from last week, bolstered as tensions remain high between Iran and the United States after U.S. Secretary of State Mike Pompeo said “significant” sanctions would be announced on Tehran. Brent futures ... More »
BANGKOK (Reuters) – Thailand’s central bank is expected to keep its benchmark policy rate steady on Wednesday for a fourth straight meeting, a Reuters poll showed, despite slowing growth and the way many Asian central banks have shifted toward easing policy. I... More »
BEIJING/SEOUL (Reuters) – China has scrapped its list of recommended battery suppliers, the industry ministry said on Monday, a decision foreign companies said could open up the world’s biggest market for electric vehicle batteries. China, the world’s largest ... More »
PARIS (Reuters) – The French fiscal administration has launched an in-depth probe into the wealth of former Renault-Nissan Chairman Carlos Ghosn, French daily Liberation reported on Sunday, citing sources. Ghosn, who holds French, Lebanese and Brazilian citize... More »
PARIS (Reuters) – U.S. arms makers say European demand for fighter jets, missile defenses and other weapons is growing fast amid heightened concerns about Russia and Iran. The U.S. government sent a group of unusually high-ranking officials including Commerce ... More »
(Reuters) – U.S. President Donald Trump is looking to require next-generation 5G cellular equipment used in the United States to be designed and manufactured outside China, the Wall Street Journal reported on Sunday, citing people familiar with the matter. As ... More »
MUMBAI (Reuters) – From companies building palm-sized satellites to those aiming to propel satellites into space using cleaner fuels, a new wave of space technology startups are mushrooming in India, catching the attention of investors keen to join the space r... More »
(Reuters) – Autonomous vehicle technology company Velodyne Lidar has hired bankers for an initial public offering, Business Insider reported on Saturday, citing sources familiar with the process. The San Jose, California-based company is working with Bank of A... More »
(Reuters) – Amazon.com Inc is exploring using drones not just to deliver packages but also to provide surveillance as a service to its customers, according to a patent granted by the United States Patent and Trademark Office. The delivery drones can be used to... More »
LONDON (Reuters) – The dollar weakened against its rivals on Tuesday, heading back towards a recent three-month low before a U.S. central bank meeting gets underway with expectations growing the Fed will signal its first rate cut in a decade. A CME Fedwatch to... More »
TOKYO (Reuters) – Oil prices fell for a second day on Tuesday on signs that global economic growth is being hit by the U.S.-China trade war, although losses were limited by tensions in the Middle East after last week’s tanker attacks. Brent crude futures were ... More »
TOKYO/HONG KONG (Reuters) – Most Asian stock markets rose on Tuesday but gains were capped by investor caution ahead of a U.S. Federal Reserve policy decision, while crude oil prices dipped as global growth worries overshadowed supply concerns. European stock ... More »
BEIJING/SHANGHAI (Reuters) – China’s Alibaba Group Holding Ltd on Tuesday unveiled its most significant business reshuffle since co-founder Jack Ma announced his pending retirement, as the e-commerce firm looks to bolster its investment focus in the face of sl... More »
MILAN (Reuters) – Italian mid-sized lender Creval said on Tuesday it would spin off its bad debts into a separate unit and sell half of them, in order to roughly halve its gross soured loan ratio to below 6.5% in 2023. Presenting a five-year business plan unde... More »
HONG KONG (Reuters) – China’s Huawei Technologies Co Ltd has taken a harder-than-expected hit from a U.S. ban, the company’s founder and CEO Ren Zhengfei said, and slashed revenue expectations for the year. Ren’s downbeat assessment that the ban will hit reven... More »
WASHINGTON (Reuters) – U.S. Senator Marco Rubio filed legislation on Monday that would prevent Huawei Technologies Co Ltd from seeking damages in U.S. patent courts, after the Chinese firm demanded that Verizon Communications Inc pay $1 billion to license the ... More »
JAKARTA (Reuters) – Bank Indonesia is expected to keep its benchmark interest rate steady at a policy review on Thursday, but it may begin to follow other Asian central banks by cutting later this year, a Reuters poll showed. All but three of 22 analysts surve... More »
SHANGHAI (Reuters) – China renamed and restructured its national railway corporation as part of its efforts to make the country’s government-run enterprises run in a more market-oriented fashion, its state-run railway group said on Tuesday. China State Railway... More »
TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda said the central bank will “certainly” debate heightening overseas risks at a rate review this week, underscoring concerns among policymakers about the economic fallout of a U.S.-China trade war. The tra... More »
BEIJING (Reuters) – New home prices in China rose at their fastest pace in five months in May, complicating government efforts to keep frothy housing markets under control as it rolls out more stimulus for the slowing economy. Average new home prices in China’... More »
SYDNEY (Reuters) – Australia’s central bank believes it will likely have to cut interest rates further from the current record low of 1.25% in order to push down unemployment and revive growth in wages and inflation. Minutes of the Reserve Bank of Australia’s ... More »
SYDNEY (Reuters) – Investors in Australian mortgage bonds are demanding higher premiums to buy the riskiest tranches of new debt, as a slowing economy stokes concerns a property downturn could get worse and increase home loan defaults. High-yield investors are... More »
WASHINGTON (Reuters) – The U.S. Justice Department said on Monday it had settled antitrust charges with CBS Corp, Cox Enterprises Inc, E.W. Scripps Co, Fox Corp and Tegna Inc, which were accused of sharing competitively sensitive information. “All five compani... More »
(Reuters) – Pfizer Inc said on Monday it would buy Array Biopharma Inc for $10.64 billion in cash, a deal it hopes will help make it a leader in colon cancer and build up its pipeline of oncology drugs. The largest U.S. drugmaker agreed to pay a hefty premium ... More »
NEW YORK (Reuters) – Oil prices fell more than 1% on Monday after more poor Chinese economic figures fanned fears of lower worldwide oil demand. Brent crude futures lost $1.07 to settle at $60.94 a barrel, a 1.73 percent loss. U.S. West Texas Intermediate (WTI... More »
WASHINGTON/NEW YORK (Reuters) – This year’s holiday season could be tighter for many Americans if the U.S. government imposes tariffs on another $300 billion worth of Chinese imports – because that will include tech products, game consoles, toys, cribs, orname... More »
SAN FRANCISCO/WASHINGTON (Reuters) – Huawei’s American chip suppliers, including Qualcomm and Intel, are quietly pressing the U.S. government to ease its ban on sales to the Chinese tech giant, even as Huawei itself avoids typical government lobbying, people f... More »
WASHINGTON (Reuters) – A wide range of U.S. companies told a hearing in Washington on Monday that they have few alternatives other than China for producing clothing, electronics and other consumer goods as the Trump administration prepares new tariffs on remai... More »
PARIS (Reuters) – The Canadian government’s contracting arm is backing a proposed new satellite system that will use big data analytics to provide commercially available data about the Earth and its orbit amid growing concerns about the risks posed by space de... More »
(Reuters) – Silicon Valley billionaire Elon Musk tweeted here late on Sunday that he had “just deleted” his Twitter account, while also changing his Twitter display name to “Daddy DotCom”. Sunday, June 16 was Father’s Day in the United States and the Tesla Inc... More »
PARIS/TOKYO (Reuters) – Renault has signaled it will block alliance partner Nissan from adopting planned governance reforms unless the French automaker gets more say in the new system, a demand which Nissan said was “most regrettable” and which one source deri... More »
PARIS (Reuters) – Fiat Chrysler Automobiles NV and Renault SA are looking for ways to resuscitate their collapsed merger plan and secure the approval of the French carmaker’s alliance partner Nissan Motor Co Ltd , according to several sources close to the comp... More »
TOKYO/HONG KONG (Reuters) – Asian shares, European and U.S. stock futures rose on Monday after the United States shelved plans to impose tariffs on Mexico and as global investors hoped for lower U.S. interest rates on the back of lackluster jobs data. Global i... More »
ZURICH (Reuters) – Swiss drugmaker Roche’s $4.3 billion takeover of U.S. gene therapy specialist Spark Therapeutics has been pushed back again, possibly beyond the first half, as regulators continue to scrutinize the deal for its effect on competition. Roche s... More »
TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda said the central bank can deliver more monetary stimulus if necessary, Bloomberg reported on Monday. The BOJ will ease further if the momentum toward its 2% inflation target is lost, Kuroda said in an in... More »
HANOI (Reuters) – Vietnam has said it will crackdown on goods of Chinese origin illegally relabelled “Made in Vietnam” by exporters seeking to avoid U.S. President Donald Trump’s tariffs on Chinese imports. Vietnamese customs have found scores of such cases am... More »
MILAN (Reuters) – Italy’s ruling parties could expose the nation to market shocks and put its savings at risk if they were not ready to compromise with the European Union over their budget plans, Prime Minister Giuseppe Conte told Corriere della Sera newspaper... More »
BENGALURU (Reuters) – India’s retail inflation likely accelerated to a seven-month high in May on rising food prices, but it is expected to remain well below the Reserve Bank of India’s target, giving it room to ease policy further, a Reuters poll found. The R... More »
SAN FRANCISCO (Reuters) – Self-driving car software startup Aurora said on Sunday it would partner with Fiat Chrysler to build autonomous platforms for commercial vehicles, the latest collaboration with an automaker for the fast-growing Silicon Valley company.... More »
SINGAPORE/BEIJING (Reuters) – China’s crude oil imports slipped 8% in May from an all-time peak hit the month before, customs data showed, as the world’s top importer of the commodity curbed shipments from Iran amid tightening U.S. sanctions on that country. C... More »
BEIJING (Reuters) – China’s soybean imports fell 24% in May from the same month last year, customs data showed on Monday, as the ongoing Sino-U.S. trade war and deadly African swine fever checked demand. China brought in 7.36 million tonnes of soybeans in May,... More »
PARIS (Reuters) – Nissan Motor Co believes that attempts by Renault SA to place one of its directors on Nissan’s planned governance reform committees may lead to a conflict of interest, a source with knowledge of the issue told Reuters on Monday. Renault, whic... More »
WELLINGTON (Reuters) – Air New Zealand said on Monday it was ending a longstanding ban on staff having visible tattoos after facing criticism that the policy discriminated against Māori employees. Some New Zealanders with indigenous Māori heritage wear tattoos... More »
NEWPORT BEACH, Calif./NEW YORK (Reuters) – Some of the world’s biggest tech companies have told their employees to stop talking about technology and technical standards with counterparts at Huawei Technologies Co Ltd in response to the recent U.S. blacklisting... More »
BEIJING (Reuters) – China summoned global technology companies for talks last week following last month’s U.S. ban on selling technology to China’s Huawei Technologies Co Ltd, two people familiar with the matter told Reuters on Sunday. The blacklisting of Huaw... More »
(Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Sunday that President Donald Trump might ease U.S. restrictions on Huawei if there was progress in the trade row with China – but absent a deal, Washington would maintain tariffs to cut its deficit. “I... More »
FUKUOKA, Japan (Reuters) – A highly anticipated late June meeting between U.S. President Donald Trump and Chinese President Xi Jinping has some parallels with their Buenos Aires summit last December that postponed a tariff hike, U.S. Treasury Secretary Steven ... More »
SYDNEY (Reuters) – Australian Prime Minister Scott Morrison on Monday said aluminum exporters are complying with the terms of a deal with the United States after the New York Times reported President Donald Trump had considered imposing tariffs on Canberra. Th... More »
MOSCOW, (Reuters) – Russian manufacturing activity contracted in May for the first time in nine months, the Markit purchasing managers’ index (PMI) showed on Monday, driven by a faster-than-expected decline in employment. The index’s headline reading fell to 4... More »
FRANKFURT (Reuters) – Infineon has agreed to buy Cypress Semiconductors in a deal valuing the U.S. maker of microchips used in cars and electronic devices at 9 billion euros ($10.1 billion), including debt, the German company said on Monday. The cash offer of ... More »
HONG KONG (Reuters) – Huawei Technologies Co Ltd plans to sell its undersea telecom cable business, showed a buyer’s filing on Monday, in its first major asset sale since the United States ratcheted up accusations of the Chinese firm being a vehicle for espion... More »
NEW YORK (Reuters) – LVMH’s Sephora beauty chain said it will close all its U.S. stores, distribution centers and corporate offices on Wednesday to conduct diversity training for employees, a move that follows a racial incident involving a Grammy-nominated sin... More »
SYDNEY (Reuters) – Australian businesses reported a decent increase in profits for the first three months of the year, supported by surging iron ore prices while higher wages and inventories may have also helped prop up momentum in the slowing economy. Data fr... More »
(Reuters) – Huawei Technologies, the Chinese telecommunications equipment supplier fighting a U.S. sales ban, kicks off a trade secrets lawsuit in the United States on Monday against a former employee who has sought to turn the case into a referendum on Huawei... More »
BENGALURU, (Reuters) – India’s manufacturing sector expanded at its quickest pace in three months in May on improved output and new orders, according to a private business survey which also showed a pick up in hiring. The survey found increased optimism about ... More »
(Reuters) – Alphabet Inc’s Google said on Sunday it had resolved the network congestion in the eastern United States that affected services in Google Cloud, G Suite and YouTube. Google said it would conduct an investigation of the outage and make appropriate i... More »
SINGAPORE (Reuters) – Oil prices fell more than 1% on Monday, extending losses of over 3% from Friday, when crude markets slipped to their biggest monthly losses in six months amid stalling demand and as trade wars fanned fears of a global economic slowdown. F... More »
TAIPEI (Reuters) – Taiwan’s exports likely contracted 4.5% in May from a year earlier, logging a seventh straight month of decline, according to a median forecast of 11 analysts polled by Reuters. Taiwan’s April exports had dropped 3.3% from a year earlier, in... More »
(Reuters) – German chipmaker Infineon Technologies AG is nearing a deal to buy Cypress Semiconductor Corp, valuing the U.S. chipmaker at almost $10 billion, Bloomberg reported on Sunday. Infineon will pay between $23-$24 a share for Cypress Semiconductor, Bloo... More »
SHANGHAI (Reuters) – The Institute of Electrical and Electronics Engineers (IEEE) said on Monday curbs on employees of Huawei Technologies and its subsidiaries have been lifted, and they would be allowed to participate in a peer review process for its research... More »
WASHINGTON (Reuters) – The U.S. Transportation Department is expected to provide tentative approval to a bid by American Airlines Group Inc and Qantas Airways Ltd to operate a joint venture, two people briefed on the matter said on Sunday. The department is ex... More »
SEOUL (Reuters) – Former partners and rivals of Jet Airways Ltd are launching replacement routes and looking for new codeshare partners as they scramble to fill a lucrative gap left by the collapse of the India’s once-largest international airline. Jet, which ... More »
LONDON (Reuters) – Online retail giant Amazon said it would open pop-up shops in Britain to give more than 100 small online businesses an opportunity to sell on the high street for the first time. The first of the 10 stores, which are branded “Clicks and Morta... More »
WASHINGTON (Reuters) – The Great Recession ended a decade ago this month, but for the U.S. Federal Reserve the fallout has posed an era-defining choice: Either jolt Americans to expect higher inflation, or keep the printing press ready for the next economic sl... More »
SEATTLE/ORLANDO, Fla. (Reuters) – Stratolaunch Systems Corporation, the space company founded by late billionaire and Microsoft Corp co-founder Paul Allen, is closing operations, cutting short ambitious plans to challenge traditional aerospace companies in a n... More »
MILAN/PARIS (Reuters) – Fiat Chrysler has made a “transformative” all-share merger proposal to French rival Renault, the Italian-American carmaker said on Monday, in a deal to create a new third-ranked global manufacturer. The FCA proposal, finalised in overni... More »
SINGAPORE (Reuters) – Oil prices fell on Monday, extending losses from last week when crude dropped the most this year on concerns the Sino-U.S. trade war could trigger a broad economic slowdown, although OPEC’s supply cuts provided some support. U.S. West Tex... More »
TOKYO (Reuters) – Asia stocks inched up but remained near four-month lows on Monday amid concerns about U.S.-China tensions while the euro stayed in a narrow range after the weekend’s European Parliament elections. MSCI’s broadest index of Asia-Pacific shares ... More »
PARIS (Reuters) – Carlos Ghosn’s Paris lawyers François Zimeray and Jessica Finelle said on Monday that they had contacted a United Nations body last week to complain about Ghosn’s treatment. Ghosn is facing financial misconduct charges, which he denies, and w... More »
BEIJING (Reuters) – Profits for China’s industrial firms shrank in April as slowing manufacturing activity halted the previous month’s surge, putting more pressure on policymakers to step up support for an economy hit by a bitter trade war with the United Stat... More »
SYDNEY (Reuters) – An Australian law firm filed a class action lawsuit on Monday against five major international investment banks accusing them of colluding to rig foreign exchange rates during 2008-2013 to jack up profits at the expense of businesses and inv... More »
SINGAPORE (Reuters) – The U.S. Federal Aviation Administration’s (FAA) reputation has taken a hit as a result of the Boeing Co 737 MAX grounding, United Airlines President Scott Kirby said on Monday. “The brand of the FAA has certainly been impacted by this,” ... More »
FRANKFURT (Reuters) – Uniper’s chairman on Sunday said talks with major shareholder Fortum to resolve a dispute between the two companies were on hold after two of the German utility’s board members resigned. Fortum and Uniper have been at loggerheads since th... More »
BOSTON/JERUSALEM (Reuters) – Teva Pharmaceutical Industries Ltd said on Sunday it had agreed to pay an $85 million settlement with the state of Oklahoma days before the company was set to face trial over allegations that it and other drugmakers helped fuel the... More »
