MILAN/PARIS (Reuters) – Fiat Chrysler and Renault are set to confirm tie-up talks on Monday, with the board of the French carmaker called to an early morning meeting to discuss the situation. It comes after news broke over the weekend that two of the world’s l... More »
TURIN, Italy/LONDON (Reuters) – Fiat Chrysler has been angling for a combination with another automaker for years, and its latest attempt – for a global tie-up with France’s Renault – could address some of the main weaknesses of both companies, sources say. Bu... More »
HONG KONG/SHANGHAI (Reuters) – China’s Huawei, hit by crippling U.S. sanctions, could see shipments decline by as much as a quarter this year and faces the possibility that its smartphones will disappear from international markets, analysts said. Smartphone sh... More »
(Reuters) – Billionaire entrepreneur Elon Musk’s SpaceX has raised more than $1 billion in financing in the last six months as it aims to roll out an ambitious high-speed internet service by using a constellation of satellites to beam signals from space. The c... More »
SINGAPORE/MANILA (Reuters) – Mobile phone retailers in some Asian countries are refusing to accept Huawei devices for trade-ins, as more consumers look to offload their device on worries Google suspending business with the Chinese firm will disrupt services. G... More »
NEW YORK (Reuters) – The U.S. dollar held near a one-month high on Wednesday after minutes from the May Federal Open Market Committee meeting showed officials agreed that their current patient approach to setting monetary policy could remain in place “for some... More »
LONDON (Reuters) – Gold miners must focus on maximizing returns and more mergers to attract investors seeking to diversify after years of under-investing in mines, Barrick Gold’s chief executive said on Wednesday. “The industry is in decline and we have put ou... More »
LONDON (Reuters) – Huawei put uncertainty over the future of its devices business to one side on Tuesday with the launch of new Honor smartphones, in a confident display of the Chinese firm’s technology. The world’s second-biggest phone maker runs its devices ... More »
WASHINGTON (Reuters) – U.S. President Donald Trump said his tariffs on Chinese goods are causing companies to move production out of China to Vietnam and other countries in Asia, and added that any agreement with China cannot be a “50-50” deal. In an interview... More »
BEIJING (Reuters) – China’s official Xinhua news agency condemned the spreading of “false news” on Monday after some websites published a year-old alert announcing a ceasefire in the Sino-U.S. trade dispute. The one-line item, originally published on May 20, 2... More »
(Reuters) – Purplebricks Group Plc named Phil Felice as the interim boss of its U.S. operations on Monday to oversee the online estate agent’s review of the business and said it was optimistic about the future of the business. Purplebricks had said earlier thi... More »
LONDON (Reuters) – The Australian dollar surged on Monday and is on track for its biggest rise this year as investors cheered a shock election win by Prime Minister Scott Morrison’s conservative coalition, though mixed global stocks broadly weighed on risk app... More »
MILAN (Reuters) – Italy is firmly committed to preserving financial stability while also relaunching investments, Economy Minister Giovanni Tria said on Monday. “The ‘Def’ document clearly states Italy’s will to meet commitments on public deficit and debt,” Tr... More »
SHANGHAI (Reuters) – Asian shares clawed back some of last week’s losses as investors cheered apparent election wins for conservative incumbents in Australia and India, while broader global trade worries eased after Washington offered to lift some tariffs in N... More »
BEIJING (Reuters) – Cases of European firms forced to transfer technology in China are increasing despite Beijing saying the problem does not exist, a European business lobby said, adding that its outlook on the country’s regulatory environment is “bleak”. Chi... More »
PRAGUE (Reuters) – The Czech government will stick to plans for a 40 billion crown ($1.73 billion) central government budget deficit in 2020, unchanged from its 2019 target, Prime Minister Andrej Babis said as draft preparations near an end. The Czech Republic... More »
LONDON (Reuters) – An investor group managing some $5 trillion said it was pleased with the steps taken by fast-food companies to cut the use of antibiotics in their products and will continue to monitor firms as its three-year-long engagement comes to an end.... More »
SHANGHAI (Reuters) – The fresh escalation in the long-running Sino-U.S. trade dispute prompted a sharp selloff in Chinese markets last week with the yuan and banking and tech stocks hit particularly hard though some sectors, like farming, managed to outperform... More »
PARIS (Reuters) – Boeing Co has won a hard-fought contest to sell wide-body aircraft to Air New Zealand Ltd, beating a challenge from Europe’s Airbus, industry sources said on Monday. The carrier, which currently operates only Boeing wide-body jets on long-hau... More »
NEW YORK (Reuters) – Shares of smaller publicly listed U.S. companies have fallen more on recent U.S.-China trade tensions than larger corporations and could face an even rougher road as the year wears on unless the prospects for economic growth improve. Wall ... More »
NEW YORK (Reuters) – Alphabet Inc’s Google has suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing, a source familiar with the matter told Reuters on S... More »
(Reuters) – Huawei Technologies’ founder and chief executive Ren Zhengfei said on Saturday the growth of the Chinese tech giant “may slow, but only slightly” due to recent U.S. restrictions. In remarks to the Japanese press and reported s.nikkei.com/2VMJSaT by... More »
(Corrects title in 17th paragraph of this May 17 story to say “Chief Financial Officer” Meng Wanzhou, not “Chief Executive Officer”.) By Karen Freifeld (Reuters) – The U.S. Commerce Department said on Friday it may soon scale back restrictions on Huawei Techno... More »
(Reuters) – AbbVie Inc said on Friday it has halted enrollment of patients in all ongoing studies testing its brain cancer treatment after the drug failed to meet the main goal in a late-stage trial. The company’s shares fell 1.8 percent to $78.10 before the b... More »
TOKYO (Reuters) – Japan Display Inc said on Monday that a planned investment of up to 80 billion yen ($729.33 million) from a Chinese-Taiwanese group will be delayed as the investor group wants to reassess the ailing display maker’s business. The investment is... More »
PARIS (Reuters) – French fashion group Kering, whose brands include Gucci and Saint Laurent, said it had set out internal guidelines for dealing with the welfare of animals, as fashion companies look to tighten their ethical standards. Kering’s ‘Animal Welfare... More »
LONDON (Reuters) – Britain’s economy risks damage if Brexit is delayed beyond its latest Oct. 31 deadline because companies would continue to hold back on investment, Bank of England deputy governor Ben Broadbent was quoted as saying on Monday. “It’s pretty cl... More »
BANGKOK (Reuters) – Thailand’s central bank has not intervened in the trading of the baht to gain a trade advantage with the United States, an assistant governor said on Monday, amid speculation that Washington may soon add the country to a currency watch list... More »
(Reuters) – Financing group Greensill Capital on Monday confirmed SoftBank Group Corp’s Vision Fund has invested $800 million in the British company, a vote of confidence in the UK finance sector that has been navigating Brexit challenges. Greensill, which pro... More »
PARIS (Reuters) – Eyewear group EssilorLuxottica said it had resolved a dispute between its feuding French and Italian partners, and would push on in its search for a new chief executive and its aims to centralize various new corporate functions. The resolutio... More »
TAIPEI (Reuters) – iPhone assembler Foxconn is poised to nominate its chip unit head as group chairman to succeed Taiwan presidential hopeful Terry Gou, in what is internally seen as a surprise move, two people with direct knowledge of the matter said. Liu You... More »
FRANKFURT (Reuters) – European Trade Commissioner Cecilia Malmstroem expects U.S. President Donald Trump to delay a May 18 deadline for U.S. tariffs on cars imported from the European union, according to an interview published in the Sueddeutsche newspaper on ... More »
SYDNEY (Reuters) – U.S. stock futures and Asian shares fell on Monday on growing anxiety over whether the United States and China will be able to salvage a trade deal, after Washington sharply hiked tariffs and Beijing vowed to retaliate. The United States and... More »
SYDNEY (Reuters) – Australia’s export earnings are booming as resource prices surge but a statistical quirk means tens of billions of dollars go missing from main measures of growth, making the economy seem weaker than it actually is. The cash is still coursin... More »
JERUSALEM (Reuters) – Teva Pharmaceutical Industries’ chief financial officer on Sunday reiterated that the company has done nothing wrong in the wake of a price-fixing lawsuit filed by 44 U.S. states. Mike McClellan told a conference in Israel that the suit w... More »
WASHINGTON (Reuters) – U.S. states filed a lawsuit accusing Teva Pharmaceuticals USA Inc of orchestrating a sweeping scheme with 19 other drug companies to inflate drug prices – sometimes by more than 1,000% – and stifle competition for generic drugs, state pr... More »
(Reuters) – Huawei Technologies Co Ltd lawyer James Cole’s prior work at the U.S. Department of Justice created conflicts of interest that should disqualify him from defending the Chinese company in a case of alleged bank fraud and sanctions violations, U.S. p... More »
WASHINGTON (Reuters) – Facebook Inc quickly rejected a call from co-founder Chris Hughes on Thursday to split the world’s largest social media company in three, while lawmakers urged the U.S. Justice Department to launch an antitrust investigation. Facebook ha... More »
(Reuters) – Uber Technologies Inc’s conservative initial public offering could not keep its shares from sinking in their trading debut on Friday, fueling debate on Wall Street over whether the outcome of the most anticipated listing since Facebook Inc would we... More »
(Reuters) – A U.S. judge on Friday said Elon Musk must face a defamation lawsuit by a British diver who said he was falsely branded a pedophile and child rapist by the chief executive of electric car company Tesla Inc. U.S. District Judge Stephen Wilson in Los... More »
WASHINGTON (Reuters) – Billionaire entrepreneur Jeff Bezos unveiled on Thursday a mockup of a lunar lander being built by his Blue Origin rocket company and touted his moon goals in a strategy aimed at capitalizing on the Trump administration’s renewed push to... More »
TAIPEI (Reuters) – The chairman of Apple supplier Foxconn said on Monday he told U.S. President Donald Trump that he wanted to be the peacemaker between the United States, China and self-ruled Taiwan, which Beijing claims as its own. Billionaire Terry Gou, who... More »
JAKARTA (Reuters) – Indonesia’s economy expanded more slowly than expected in the first quarter of this year, as investment dropped ahead of elections and campaign spending failed to sustain growth momentum. Southeast Asia’s largest economy grew 5.07 percent i... More »
BEIJING (Reuters) – China’s central bank said on Monday it will cut reserve requirement ratios (RRRs) to release about 280 billion yuan ($41 billion) for some small and medium-sized banks, in a targeted move to help companies struggling amid an economic slowdo... More »
PARIS (Reuters) – IKEA plans to invest 400 million euros ($448 million)in France over the next three years as it builds up its new city center stores in the country, IKEA France’s chief executive Walter Kadnar said on Monday. Kadnar unveiled the plans as IKEA ... More »
BEIJING (Reuters) – China is expected to report much slower export growth for April after a strong rebound in March, while imports likely shrank for a fifth straight month but at a milder pace, a Reuters poll showed. If Wednesday’s readings are in line with fo... More »
SYDNEY (Reuters) – Australia’s Treasury Wine Estates Ltd, the world’s largest standalone winemaker, said on Monday it had won a lawsuit against a “copycat” it had accused of imitating its prestigious Penfolds brand in China. China is Australia’s largest wine e... More »
SINGAPORE (Reuters) – Oil prices tumbled on Monday after U.S. President Donald Trump said he would sharply hike tariffs on Chinese goods this week, risking the derailment of trade talks between the world’s two biggest economies. U.S. West Texas Intermediate (W... More »
SHANGHAI (Reuters) – Global financial markets reeled on Monday after U.S. President Donald Trump unexpectedly jacked up pressure on China to reach a trade deal in the midst of negotiations, saying he would hike U.S. tariffs on Chinese goods this week. Equity m... More »
JENA, Germany (Reuters) – From the 12th floor of Jenoptik’s headquarters, chief executive Stefan Traeger points to his laser factory and the university that provides it with talent. Welcome to “Optics Valley” – a role model for Germany’s East in a big year for... More »
(Reuters) – British drugmaker Vectura Group Plc said on Saturday that it won a patent infringement litigation case against GlaxoSmithKline Plc in the United States and has been awarded $89.7 million in damages for the period from August 2016 through December 2... More »
NEW YORK (Reuters) – Uber Technologies Inc’s drivers in New York will go on strike next week shortly before the ride-hailing company goes public to protest what they view as unfair employment conditions, a taxi union said on Friday. The protests underscore the... More »
WASHINGTON (Reuters) – U.S. trade officials rejected Tesla Inc’s bid for relief from President Donald Trump’s 25-percent tariffs on the Chinese-made Autopilot “brain” of its Model 3 and other electric vehicles, one of more than 1,000 product denials linked to ... More »
FRANKFURT (Reuters) – A new round of tariffs between the United States and its main partners would only cause a “modest decrease” in the pace of economic growth in the euro zone, according to research by the European Central Bank. The study simulated a two-way... More »
SINGAPORE (Reuters) – Oil prices jumped on Monday as the United States looked set to announce that all buyers of Iranian oil must end their imports or be subject to sanctions. Brent crude futures rose as much as 3.3 percent to $74.31 a barrel, the highest sinc... More »
TOKYO (Reuters) – Carlos Ghosn on Monday applied for bail following his latest indictment over aggravated breach of trust, as the former Nissan Motor Co chairman fights his fourth indictment over financial misconduct. Ghosn’s defense team filed the bail reques... More »
BEIJING (Reuters) – Guangdong, China’s top province by economic output, maintained a growth rate of 6.6 percent in the first quarter thanks to improving industrial production and infrastructure spending, the 21st Century Business Herald reported, citing local ... More »
GUANGZHOU, China (Reuters) – Manufacturers in China facing trade barriers are deploying an array of moves to try to keep foreign customers – giving discounts, tapping tax breaks, trimming workforces and, occasionally, shifting production overseas to skirt tari... More »
SHANGHAI (Reuters) – U.S. electric vehicle (EV) maker Tesla Inc on Monday said it has sent a team to investigate a video on Chinese social media which showed a parked Tesla Model S car exploding, the latest in a string of fire incidents involving Tesla’s cars.... More »
HONG KONG (Reuters) – Huawei Technologies said on Monday its first-quarter revenue jumped 39 percent to 179.7 billion yuan ($26.81 billion), in the Chinese technology firm’s first-ever quarterly results. The Shenzhen-based firm, the world’s biggest telecoms eq... More »
TOKYO (Reuters) – The lead lawyer for Carlos Ghosn said he expected a fresh indictment for the former Nissan Motor Co boss to come later on Monday. “We haven’t heard of an indictment yet. I expect it will be this afternoon,” Junichiro Hironaka told reporters o... More »
TOKYO (Reuters) – Japan’s MUFG will book a charge of about 100 billion yen ($893.34 million) in the year ended March after its credit card unit stopped development of a new system amid increased competition from cashless services, the Nikkei reported on Monday... More »
HAVANA (Reuters) – The Cuban government has ordered its state-run power system to further reduce electricity generation in the latest sign that a cash crunch exacerbated by new U.S. sanctions is taking an economic and human toll, a newspaper reported on Sunday... More »
CAIRO (Reuters) – Sudan’s central bank on Sunday strengthened the Sudanese pound to 45 pounds to the dollar from 47.5, state news agency SUNA reported. It said the measure coincided with the sharp rise in the price of the pound against the dollar on the parall... More »
(Reuters) – U.S. intelligence has accused Huawei Technologies of being funded by Chinese state security, The Times said on Saturday, adding to the list of allegations faced by the Chinese technology company in the West. The CIA accused Huawei of receiving fund... More »
(Reuters) – A joint venture between U.S. smartphone chipmaker Qualcomm Inc and China’s Guizhou province will shut down by the end of the month, The Information reported on Friday, citing employees at the venture. The joint venture, Huaxintong Semiconductor (HX... More »
NEW YORK (Reuters) – Stocks around the globe rose on Tuesday to six-month highs as positive economic data in China and Germany boosted investor sentiment, though concerns about the impact of U.S. policy on the healthcare sector paused Wall Street’s rally. Wall... More »
WASHINGTON/BEIJING (Reuters) – U.S. negotiators have tempered demands that China curb industrial subsidies as a condition for a trade deal after strong resistance from Beijing, according to two sources briefed on discussions, marking a retreat on a core U.S. o... More »
(Reuters) – Italian-U.S. carmaker Fiat Chrysler Automobiles NV (FCA) has agreed to pay electric carmaker Tesla Inc hundreds of millions of euros to allow Tesla vehicles to be counted in its fleet to avoid fines for violating new European Union emission rules. ... More »
DUBAI (Reuters) – Saudi Technology Ventures (STV) said on Tuesday Uber’s deal with Careem will help the Middle East ride hailing firm expand its customer base even further and continue to develop the regional economy. STV is a Careem investor and participated ... More »
BANGKOK (Reuters) – Thailand’s annual manufacturing output in February is expected to have risen at a slightly faster pace than in the previous month, a Reuters poll showed. The median forecast of eight economists was for the manufacturing production index (MP... More »
HONG KONG (Reuters) – Chicago Federal Reserve Bank President Charles Evans said on Monday it was understandable for markets to be nervous when the yield curve flattened, though he was still confident about the U.S. economic growth outlook. In what many see as ... More »
(Reuters) – A private equity-led consortium on Monday agreed to buy British satellite operator Inmarsat for about $3.4 billion in cash, six months after Inmarsat rebuffed a slightly lower cash and stock bid from U.S. satellite group EchoStar. The consortium in... More »
LONDON (Reuters) – British sportswear group Sports Direct said any restructuring option pursued by Debenhams that could result in no equity value for the department store group’s shareholders “is not a workable solution”. Debenhams said on Friday it was seekin... More »
SINGAPORE (Reuters) – Oil prices slipped on Monday, with concerns of a sharp economic slowdown outweighing supply disruptions from OPEC’s production cutbacks and from U.S. sanctions on Iran and Venezuela. Brent crude oil futures were at $66.73 per barrel at 07... More »
NOVOVOLYNSK, Ukraine (Reuters) – Ukrainian police are investigating two companies and a factory over a coal deal which some anti-corruption campaigners say epitomizes the difficulties of doing business in the east European country. The sums involved in the dea... More »
TOKYO (Reuters) – Bank of Japan board member Yutaka Harada on Monday defended the central bank’s massive asset-buying program dubbed quantitative and qualitative easing (QQE), saying the policy has helped create jobs and boost productivity. “The biggest contri... More »
JOHANNESBURG (Reuters) – South Africa is likely to harvest 16 percent less maize in 2019 compared with the previous season after drought delayed plantings, a Reuters poll showed on Monday. The government’s Crop Estimates Committee (CEC), which will provide its... More »
CAIRO (Reuters) – Egypt’s central bank is likely to maintain interest rates at its meeting on Thursday, a Reuters poll showed on Monday, although some analysts predicted a cut ahead of expected fuel price increases this summer. Eight out of 12 economists polle... More »
NEW YORK (Reuters) – U.S. sanctions on Venezuela’s oil industry have made winners out of Royal Dutch Shell Plc and BP Plc, Gulf of Mexico offshore heavyweights, as refiners in need of substitutes are scooping up oil produced in the region. Those two companies ... More »
(Reuters) – Uber Technologies Inc is set to offer over $3 billion to buy Dubai-based rival Careem Networks FZ, two sources familiar with the deal told Reuters. Uber’s offer could be unveiled during the early part of this week, a third source added. Uber will p... More »
(Reuters) – Ahead of fresh high-level trade talks this week, China is not conceding to U.S. demands to ease curbs on technology companies, the Financial Times reported on Sunday, citing three people briefed on the discussions. U.S. Trade Representative Robert ... More »
BENGALURU (Reuters) – The southern Indian state of Karnataka kept the door open on Saturday to talks with local ride-hailing service Ola to avoid a ban that could help rival Uber build market share. Karnataka earlier this week issued a notice to suspend Ola’s ... More »
LONDON (Reuters) – Mike Lynch, once hailed as Britain’s answer to Bill Gates, faces Hewlett-Packard (HP) in London’s High Court on Monday in a multi-billion dollar showdown over the U.S. technology company’s 2011 purchase of the Autonomy software business he f... More »
(Reuters) – U.S. prosecutors on Friday added three new criminal charges to their indictment against British entrepreneur Mike Lynch related to the $11.1 billion sale of his software company Autonomy to Hewlett-Packard in 2011. Lynch faces a new charge of secur... More »
LOUISVILLE, Ky. – United Parcel Service Inc wants to get beyond U.S. doorsteps with a new push into healthcare. The world’s largest package delivery firm is preparing to test a U.S. service that dispatches nurses to vaccinate adults in their homes, Reuters has... More »
BEIJING (Reuters) – Alibaba, Tencent, Suning, and car makers including Chongqing Changan Automobile have set up a $1.5 billion Chinese ride-hailing venture, a move that could test the dominance of ride-sharing giant Didi Chuxing. Chongqing Changan Automobile s... More »
NEW YORK (Reuters) – Levi Strauss & Co’s is betting it can convince investors there is still plenty of global growth left for the 165-year old company, but fund managers fret the iconic blue jeans maker’s stock may be too pricey to generate a decent return. Th... More »
WUZHEN, China (Reuters) – China’s 2019 pork imports are set to double from last year to 2 million tonnes, a Rabobank analyst said on Thursday, as African swine fever hits production of the meat in the world’s top hog market. China has reported 113 outbreaks of... More »
(Reuters) – A group of U.S. states is investigating Hyundai Motor Co and Kia Motors Corp for potential unfair and deceptive acts related to reports of hundreds of vehicle fires, Connecticut Attorney General William Tong said on Monday. The South Korean automak... More »
HONG KONG/SHANGHAI (Reuters) – Co-working space operators in China are shifting their focus from ambitious expansion plans to services such as customizing offices for clients, as rising vacancy rates and tighter financing slow their exponential growth of the p... More »
MANAMA (Reuters) – As the weekend kicks off in Bahrain, Saudi Arabian and Kuwaiti cars jam the capital’s roads and hotel lobbies fill with visitors looking for bars, restaurants and other night-time entertainment. A new sales tax introduced this year means gov... More »
KUALA LUMPUR (Reuters) – Malaysian prosecutors on Monday said they would issue summonses to units of U.S. investment bank Goldman Sachs in London and Hong Kong, requiring them to respond by June to criminal charges filed against them last year. Soon after bein... More »
SYDNEY (Reuters) – Asian shares pulled ahead on Monday while bonds were in demand globally on mounting speculation the U.S. Federal Reserve will sound decidedly dovish at its policy meeting this week. Japan’s Nikkei .N225 advanced 0.59 percent, and MSCI’s broa... More »
(Reuters) – Ride-hailing platform Lyft Inc will launch the investor road show for its initial public offering on Monday, seeking to raise as much as $2 billion and to be valued at more than $20 billion, according to people familiar with the matter. Lyft will b... More »
SINGAPORE (Reuters) – Oil prices dipped on Monday amid concerns that an economic downturn may dent fuel consumption, but crude markets remain broadly supported by supply cuts led by producer group OPEC and U.S. sanctions against Iran and Venezuela. Brent crude... More »
WASHINGTON (Reuters) – President Donald Trump tweeted on Sunday that he urged General Motors Co’s chief executive to “do something quickly” to reopen the company’s Lordstown, Ohio, plant that was idled more than a week ago. “I am not happy that it is closed wh... More »
(Reuters) – The U.S. Department of Transportation is investigating the Federal Aviation Administration’s approval of Boeing Co’s 737 MAX jetliners, the Wall Street Journal reported on Sunday, citing people familiar with the probe. The Transportation Department... More »
WASHINGTON (Reuters) – Amazon.com Inc’s planned second headquarters in northern Virginia cleared a key test on Saturday when local officials approved a proposed financial package worth an estimated $51 million amid a small but vocal opposition. Amazon in Novem... More »
WASHINGTON (Reuters) – Amazon.com Inc’s plan to set up a second headquarters in northern Virginia, after being rebuffed in New York, will face its first test when local officials vote on Saturday on a proposed financial package worth an estimated $51 million. ... More »
