MUMBAI (Reuters) – Samsung (005930.KS) plans to launch a budget smartphone series in India ahead of a global release, aiming to regain ground ceded to Chinese rivals such as Xiaomi (1810.HK) in the world’s second-biggest mobile phone market. The South Korean c... More »
(Reuters) – Elon Musk’s rocket company SpaceX will reduce its workforce by about 10 percent of the company’s more than 6,000 employees, it said on Friday. The company said it will “part ways” with some of its manpower, citing “extraordinarily difficult challen... More »
MUMBAI (Reuters) – A group representing online sellers in India will appeal against the Competition Commision of India’s (CCI’s) ruling in favour of Walmart-owned Flipkart, the group’s lawyer Chanakya Basa said in a release on Saturday. All India Online Vendor... More »
SAN JOSE, California (Reuters) – Qualcomm sought to become the sole supplier of modem chips for Apple’s iPhone to recoup a $1-billion “incentive payment” that Apple insisted on, not to block rivals from the market, Qualcomm’s chief executive testified on Frida... More »
WASHINGTON (Reuters) – Microsoft Corp (MSFT.O) has been awarded a five-year contract worth $1.76 billion for delivering enterprise services for the Defense Department, Coast Guard and intelligence services, the Pentagon said on Friday. Source: https://www.reut... More »
LONDON (Reuters) – France’s response to “yellow vest” protests could be a turning point for euro zone bond markets if it kicks off an era of increased public borrowing in the bloc and loads additional debt on to a market already nervous over the removal of ECB... More »
60 MLN EUROS (Reuters) – The “yellow vests” movement – named after the fluorescent jackets French motorists have to carry in their vehicles – started in mid-November as a protest against a fuel tax but has since grown into a broader backlash against President ... More »
WASHINGTON/BEIJING (Reuters) – U.S. officials expect China’s top trade negotiator may visit Washington this month, signaling that higher-level discussions are likely to follow this week’s talks with mid-level officials in Beijing as the world’s two largest eco... More »
NEW YORK (Reuters) – Amazon.com Inc (AMZN.O) shares seesawed on Thursday as investors questioned how the impending divorce of company founder Jeff Bezos would affect his control of the most valuable company on Wall Street and its ambitious expansion plans. Bez... More »
BERLIN (Reuters) – Volkswagen (VOWG_p.DE) is seeking damages from former managers, who were dismissed for their roles in the diesel emissions scandal that has cost the German automaker as much as $30 billion, the Handelsblatt newspaper reported on Thursday. Vo... More »
BRUSSELS (Reuters) – European Union countries are expected to next week approve a scheme to limit imports of steel into the bloc following U.S. President Donald Trump’s imposition of tariffs on steel and aluminum entering the United States. The vote on Jan. 16... More »
BEIJING (Reuters) – Chinese and U.S. teams ended trade talks in Beijing on Wednesday that lasted longer than expected and officials said details will be released soon, raising hopes an all-out trade war that could badly disrupt the global economy can be avoide... More »
LAS VEGAS (Reuters) – As vehicles get smarter, your car will be keeping eyes on you. This week at CES, the international consumer electronics show in Las Vegas, a host of startup companies will demonstrate to global automakers how the sensor technology that wa... More »
MILAN (Reuters) – European shares rose on Wednesday driven by the export-oriented autos and tech sectors as optimism grew that the United States and China could avoid a full-blown trade war that would further brake a slowing global economy. The pan-European ST... More »
LONDON (Reuters) – World stocks extend their gains to hit a near-four week high and oil prices rose on Wednesday on optimism that the United States and China may be inching toward a trade deal, soothing fears an all-out trade war could hit a slowing global eco... More »
BRUSSELS (Reuters) – Unemployment in the euro zone unexpectedly fell in November to its lowest rate in more than ten years, official estimates released on Wednesday showed. The EU statistics office Eurostat said unemployment in the 19-country currency bloc dro... More »
HONG KONG (Reuters) – Chinese conglomerate HNA Group [HNAIRC.UL] on Wednesday said it had sold a majority stake in a Manhattan building in a $422 million deal, the latest in a slew of asset disposals undertaken by the group to ease an intensifying cash crunch.... More »
STOCKHOLM (Reuters) – Uncertainties about the global economy mean Sweden’s central bank needs to move cautiously in tightening policy after its first hike in more than seven years, minutes of its December meeting published on Wednesday showed. Last month, the ... More »
TOKYO (Reuters) – Worried by prospects of a pause in the U.S. interest rate hike cycle, the Bank of Japan is shifting focus towards a risk that it may be forced to deploy more stimulus this year to stop sharp yen rises from derailing an economic recovery, sour... More »
SINGAPORE (Reuters) – Oil prices rose by around 1 percent on Wednesday, extending gains from the previous session on hopes that Washington and Beijing may soon resolve trade disputes that have cast a dark shadow over the global economy. U.S. West Texas Interme... More »
(Reuters) – Qualcomm Inc (QCOM.O) on Tuesday responded to comments Apple Inc (AAPL.O) Chief Executive Tim Cook made in an interview, in which he said there had been no recent settlement talks between the iPhone maker and chip supplier in their global legal bat... More »
(Reuters) – Apple Inc (AAPL.O), which slashed its quarterly sales forecast last week, has reduced planned production for its three new iPhone models by about 10 percent for the January-March quarter, the Nikkei Asian Review reported on Wednesday. That rare for... More »
CHICAGO (Reuters) – China’s approval of imports of a DowDuPont Inc (DWDP.N) genetically modified soybean puts rival Bayer AG (BAYGn.DE) on the defensive, investors and analysts said, as U.S. farmers will have a new choice when planting their most valuable agri... More »
WASHINGTON (Reuters) – Fiat Chrysler Automobiles NV (FCHA.MI) is nearing a settlement to resolve the U.S. Justice Department’s allegations that the Italian-American automaker used illegal software to allow 104,000 U.S. diesel vehicles to pollute beyond legal l... More »
SEOUL (Reuters) – South Korea’s LG Electronics Inc (066570.KS) said on Tuesday its fourth-quarter operating profit likely plummeted 80 percent from the same period a year earlier, falling well below analyst expectations. The world’s second-biggest television s... More »
(Reuters) – Chicago law firm Corboy & Demetrio said on Tuesday it filed a lawsuit against electric carmaker Tesla Inc (TSLA.O) alleging that its 2014 Model S sedan had a defective battery pack that caused the death of an 18-year old passenger in an accident la... More »
(Reuters) – A California jury on Monday heard opening statements in the latest trial over allegations that Johnson & Johnson’s (JNJ.N) talc-based products, including the company’s baby powder, were contaminated with asbestos and cause cancer. The lawsuit broug... More »
LONDON (Reuters) – Apple’s first sales warning in nearly 12 years sent European shares sliding on Thursday, with the tech sector particularly badly bruised as chipmakers that supply the iPhone maker fell sharply. The pan-European STOXX 600 fell 0.9 percent as ... More »
LONDON (Reuters) – Oil prices rebounded on Friday, recovering slightly from heavy losses this week, but remained close to the lowest levels in over a year as rising U.S. inventories and concern over global economic growth rattled markets. Brent crude oil LCOc1... More »
LONDON (Reuters) – Stocks in Europe and Asia rose cautiously on Friday after Wall Street ended a volatile session with big gains, but fears of further price swings and worries about U.S. politics kept safe-haven currencies such as the yen and Swiss franc in de... More »
(Reuters) – The New York Yankees are in talks with Amazon.com Inc and Sinclair Broadcast Group Inc about a joint bid for the team’s regional sports network, Yes, the Wall Street Journal reported on Friday, citing people familiar with the matter. The baseball t... More »
TOKYO (Reuters) – As the developed world’s cheapest equity market and home to a rising breed of more profitable companies, the Japanese market should be a safe investment bet. Yet fund managers are bypassing it on fears ebbing global growth could knock Japan’s... More »
LONDON/NEW YORK (Reuters) – After an unexpected rally that carried the dollar to 18-month peaks and saw it end 2018 as investors’ top trade, the currency faces challenges in the coming year. They include an expensive valuation, a flagging equity boom, waning c... More »
BEIJING (Reuters) – China has opened the door to imports of rice from the United States for the first time ever in what analysts took to signal a warming of relations between the world’s two biggest economies after a frosty year marked by tensions and tit-for-... More »
LONDON (Reuters) – European shares edged up on Friday, buoyed by a bounce on Wall Street as a turbulent week drew to a close and investors licked their wounds after the region’s benchmark STOXX 600 sank to its lowest level since U.S. President Donald Trump’s e... More »
BERLIN (Reuters) – Inflation in Germany’s most populous regions slowed in December, just as the European Central Bank ended a crisis-fighting bond purchase scheme after four years and as global markets slumped. The annual inflation rate in Germany’s most popul... More »
BEIJING (Reuters) – A third prototype of China’s home-built C919 narrowbody passenger jet completed its first test flight on Friday, its manufacturer said, in another step forward in the nation’s push to become a global civil aerospace player. The C919, which ... More »
TOKYO (Reuters) – Nissan Motor Co (7201.T) will produce 30,000 fewer vehicles in the coming months in China than what it had planned, a person briefed on the matter told Reuters, as global automakers grapple with falling demand in the world’s biggest car marke... More »
MOSCOW/HONG KONG (Reuters) – Russian aluminum company Rusal said on Friday it has appointed independent non-executive director Jean-Pierre Thomas as its new chairman as part of an agreed restructuring in exchange for the lifting of U.S. sanctions. The previous... More »
MEXICO CITY (Reuters) – Mexico’s government unveiled a plan on Thursday to step up use of the armed forces to combat fuel theft, vowing to root out corrupt officials it says are largely responsible for a problem that has cost the country billions of dollars. P... More »
WASHINGTON (Reuters) – President Donald Trump is considering an executive order in the new year to declare a national emergency that would bar U.S. companies from using telecommunications equipment made by China’s Huawei and ZTE, three sources familiar with th... More »
(Reuters) – U.S. cannabis retailer Green Growth Brands Ltd (GGB.CD) said on Thursday it would make a hostile takeover bid for Aphria Inc (APHA.TO) in an all-stock deal valuing the Canadian pot producer at C$2.8 billion ($2.06 billion). Several companies are lo... More »
WASHINGTON (Reuters) – Most financial market credit officers surveyed by the Federal Reserve in November said their big clients were exposed to emerging markets but were scaling back bets emerging market assets would rise in value, the U.S. central bank said o... More »
MUMBAI/DELHI (Reuters) – Apple Inc will begin assembling its top-end iPhones in India through the local unit of Foxconn as early as 2019, the first time the Taiwanese contract manufacturer will have made the product in the country, according to a source famili... More »
(Reuters) – The U.S. Food and Drug Administration (FDA) plans to meet top-level executives of e-cigarette makers, the agency’s chief said on Thursday, hinting that some companies seem to be backing away from commitments related to youth’s access to e-cigarette... More »
FRANKFURT (Reuters) – Volkswagen’s (VOWG_p.DE) cleanup of a diesel cheating scandal will cost it 5.5 billion euros ($6.25 bln) in 2018 and around 2 billion euros in 2019, Chief Financial Officer Frank Witter told German weekly Boersen-Zeitung. Since 2015, the ... More »
ZURICH (Reuters) – Cost cuts and closing a unit where Credit Suisse (CSGN.S) had parked underperforming assets will help boost return on tangible equity (ROTE) to at least 10 percent in 2019, Chairman Urs Rohner said in an interview published on Saturday. He s... More »
KUALA LUMPUR (Reuters) – Malaysia is seeking $7.5 billion in reparations from Goldman Sachs Group Inc (GS.N) over its dealings with scandal-linked state fund 1MDB, the Financial Times (FT) reported on Friday, citing the finance minister. Separately, Bloomberg ... More »
(Reuters) – Minnesota prosecutors will not charge the billionaire chief executive officer of China’s JD.com Inc, Richard Liu, after he was accused of rape by a University of Minnesota student during a recent U.S. visit, authorities said on Friday. Hennepin Cou... More »
NEW YORK (Reuters) – Wall Street stocks fell sharply in volatile trading on Friday, with the Nasdaq confirming it is in a bear market, as concerns of slowing economic growth led investors to flee stocks in high-valuation sectors such as technology and communic... More »
CHICAGO (Reuters) – Campbell Soup Co (CPB.N) said on Friday that incoming Chief Executive Mark Clouse, a food industry veteran, could be paid as much as $7.4 million in compensation for fiscal 2019. Clouse, the former chief of frozen food maker Pinnacle Foods,... More »
WASHINGTON (Reuters) – The White House on Friday laid out objectives for trade talks with Japan, setting the clock for them to begin as early as Jan. 20, as the administration seeks to slash the United States’ $69 billion trade deficit with the world’s third-b... More »
NEW YORK (Reuters) – The Nasdaq Composite Index .IXIC confirmed on Friday it is in a bear market for the first time since 2008, underscoring fears that the longest bull run in history for U.S. stocks could soon be over. The index finished the day down 21.9 per... More »
(Reuters) – HNA Group Co [HNAIRC.UL] is in talks to sell Ingram Micro Inc to private equity firm Apollo Global Management Llc (APO.N), a source familiar with the matter said on Friday, as the Chinese conglomerate continues to scale back operations. HNA hopes t... More »
HAVANA (Reuters) – Cuba’s economy grew 1.2 percent in 2018, below the government’s forecast, and is expected to expand 1.5 percent in 2019 despite falling export revenues and continued austerity measures, the communist-run country’s economy minister said on Fr... More »
(Reuters) – Wells Fargo & Co. (WFC.N) has been hiring overseas after pledging to eliminate thousands of jobs, according to a Department of Labor investigation. The department determined that American employees who have been laid off in Wells Fargo’s customer a... More »
TORONTO (Reuters) – The Canadian dollar fell to a 19-month low against its broadly stronger U.S. counterpart on Friday, as declines for stocks and the price of oil offset data showing stronger-than-expected growth in the domestic economy. At 4:00 p.m. (2100 GM... More »
NEW YORK (Reuters) – Speculators’ net long bets on the U.S. dollar rose in the latest week, according to calculations by Reuters and Commodity Futures Trading Commission data released on Friday. The value of the net long dollar position was $29.72 billion in t... More »
(This corrects paragraph 7 of December 20 story to say Zynga acquired a unit of Peak Games, and not the entire company. The error also appeared in an earlier version) By Vibhuti Sharma and Liana B. Baker (Reuters) – U.S. game software firm Zynga Inc (ZNGA.O) s... More »
BEIJING/SHANGHAI (Reuters) – Tencent Holdings Ltd’s shares surged on Friday after a local regulatory official said some new video games had been cleared for sale, ending a lengthy freeze in approvals that has spooked players in the world’s largest gaming marke... More »
WILMINGTON, Del (Reuters) – As Venezuela collapses, one little-known U.S. investment fund is poised to win big from litigation against its socialist government: Tenor Capital Management. Since 2012, the New York firm has invested $76 million in Canadian mining... More »
SINGAPORE (Reuters) – SoftBank Group Corp (9984.T) is nearing a deal to invest $1.5 billion in Grab, three times a previously expected $500 million, as Southeast Asia’s biggest ride-hailing firm looks to expand, a person with knowledge of the matter said. Six-... More »
SEHLEM, Germany (Reuters) – Faced with a chronic shortage of truck drivers, logistics firm Deutsche Post DHL Group (DPWGn.DE) is trialing a new scheme to get more people behind the wheel so it can keep goods flowing across Europe, especially at peak times like... More »
BERLIN (Reuters) – Germany agreed new rules on Wednesday to lower the threshold for screening and even blocking purchases of stakes in German firms by non-Europeans, in a move to fend off unwanted takeovers by Chinese investors in strategic areas. The decision... More »
TOKYO (Reuters) – Tokyo prosecutors indicted ousted Nissan Motor (7201.T) chairman Carlos Ghosn for under-reporting his income and also officially charged the automaker, making the firm culpable for the financial misconduct scandal that has shocked the industr... More »
LONDON (Reuters) – Oil fell on Monday, in line with further declines in global stock markets, erasing the gains made last week when producer group OPEC and other key exporters agreed to cut their crude output from January. Brent crude oil futures fell $1.02 on... More »
PARIS (Reuters) – Last weekend’s anti-government protests resulted in a 17 percent drop in the number of visitors to French shopping centers, said a body representing the French shopping center industry on Monday. Earlier on Monday, both the French Finance Min... More »
DOHA (Reuters) – The Qatar Investment Authority (QIA) has accelerated its investments in technology and is keeping the door open to strategic partnerships for technology investments, its CEO said on Monday. In the United States, the fund is focusing on “classi... More »
BEIJING (Reuters) – Chinese state media on Monday denounced the arrest of a top executive at tech giant Huawei HWT.UL, but did not link it to talks to resolve a trade dispute with the United States, an apparent effort not to undermine prospects for a deal. Sen... More »
TOKYO (Reuters) – The head of the state-backed $18 billion Japan Investment Corp (JIC), Masaaki Tanaka, said on Monday he and eight other board members would resign citing distrust of the trade ministry after a dispute over their pay. The resignations throw in... More »
LONDON (Reuters) – Losses on global stocks snowballed on Monday, with European markets following Asian peers lower as fresh signs emerged of slowing growth worldwide and fears grew that simmering U.S.-China tensions would torpedo chances of a trade deal. Wall ... More »
(Reuters) – Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them. 1/ CURVE-BALLS With major parts of the U.S. economy visibly slowing, the Treasury market has reacted in a... More »
(Reuters) – Drugmaker Gilead Sciences Inc on Monday named Roche Holding AG’s Daniel O’Day as its new chief executive, tapping an industry veteran to fill a management vacuum. O’Day, now head of Roche’s pharmaceuticals business, joined the company in 1987 and h... More »
LONDON (Reuters) – Simmering U.S-Chinese trade tensions dented European shares on Monday as investors fled risk at the start of a highly uncertain week, with Britain’s parliamentary vote on Brexit also looming and chemicals stocks dented by a BASF profit warni... More »
(Reuters) – The onset of a U.S. recession could take longer than usually thought after key points of the Treasury yield curve invert, as a surge in U.S. short-dated debt issuance has altered the dynamics of the Treasury market and other indicators show an econ... More »
WASHINGTON (Reuters) – Unless U.S.-China trade talks wrap up successfully by March 1, new tariffs will be imposed, U.S. Trade Representative Robert Lighthizer said on Sunday, clarifying there is a “hard deadline” after a week of seeming confusion among Preside... More »
BEIJING (Reuters) – China’s foreign ministry on Monday said it had never heard of any country having a security problem with Huawei Technologies Co Ltd [HWT.UL], after a top executive of the telecoms giant was arrested in Canada. Ministry spokesman Lu Kang mad... More »
NEW YORK/SAN FRANCISCO, (Reuters) – Uber Technologies Inc has filed paperwork for an initial public offering, according to three people with knowledge of the matter, taking a step closer to a key milestone for one of the most closely watched and controversial ... More »
VANCOUVER/LONDON (Reuters) – Huawei Technologies Co Ltd’s chief financial officer faces U.S. accusations that she covered up her company’s links to a firm that tried to sell equipment to Iran despite sanctions, a Canadian prosecutor said on Friday, arguing aga... More »
(Reuters) – U.S. chipmaker Qualcomm Inc (QCOM.O) rejected a suggestion by the White House that its collapsed $44 billion acquisition of Dutch peer NXP Semiconductors (NXPI.O) could be revived, saying the deal had been terminated as the deadline had expired. Qu... More »
NEW YORK (Reuters) – A temporary ceasefire in the U.S.-China trade war boosted global stocks to their highest in about three weeks on Monday, while sending the dollar lower and the Chinese yuan and several trade-dependent currencies higher. The rally in equiti... More »
LONDON (Reuters) – Qatar’s decision to quit OPEC shows the frustration of small producers at the dominant role of a Saudi and Russia-led panel, a top Iranian official said, adding that any supply cuts should come only from countries that had increased output. ... More »
OTTAWA (Reuters) – Canada takes U.S. President Donald Trump’s comments about pulling out of NAFTA seriously and has no indication when the White House might act, Finance Minister Bill Morneau said on Monday. Morneau, speaking to a New York event arranged by Po... More »
(Reuters) – U.S. stocks rose on Monday, boosted by gains in trade-sensitive industrial and technology stocks after the United States and China agreed upon a temporary trade detente. Washington and Beijing agreed to a 90-day trade ceasefire during the G20 summi... More »
LONDON (Reuters) – Rating agency S&P Global expects the amount of bad loans on Turkish banks’ books to double over the next 12-18 months and their total credit losses to rise to as much as 2.5 percent from the recent average of 1.4 percent. In a new report pub... More »
LONDON (Reuters) – GlaxoSmithKline has agreed to buy U.S. cancer specialist Tesaro for $5.1 billion, a costly investment to rebuild the pharmaceuticals business by new Chief Executive Emma Walmsley that unnerved investors. GSK has lagged rivals in recent years... More »
NEW YORK (Reuters) – Oil prices jumped by more than 3 percent on Monday after the United States and China agreed to a 90-day truce in a trade dispute and Canada’s Alberta province ordered a production cut, while exporter group OPEC looked set to reduce supply.... More »
(Reuters) – The Bank of Canada will next raise interest rates early next year, and twice again by the end of 2019, according to economists polled by Reuters who say the central bank needs to be careful with the pace of tightening. As recently as late October t... More »
DOHA (Reuters) – Qatar said it will quit OPEC to focus on gas in a swipe at Saudi Arabia, the de facto leader of the oil exporting group which is trying to show unity in tackling an oil price slide. Doha, one of OPEC’s smallest oil producers but the world’s bi... More »
(Reuters) – Several carmakers reported a drop in new car sales in the United States in November, hurt by rising car prices and higher interest rates as well as further declines in sales of sedans. Ford Motor Co (F.N), Honda Motor Co Ltd (7267.T) and Toyota Mot... More »
MOSCOW (Reuters) – The Moscow Exchange (MOEX.MM) has launched five new currency trading options to boost liquidity on its currency market, the bourse said on Monday. The Moscow Exchange said it had started quoting the Japanese yen against the Russian rouble, a... More »
NEW YORK (Reuters) – Americans’ demand for credit declined over the previous year as expected, as mortgage interest rates rose, while the percentage of approved applications also ticked lower compared to a year ago, a survey from the New York Federal Reserve s... More »
FRANKFURT (Reuters) – BMW (BMWG.DE) expects headwinds from rising currency and commodities prices to reach a mid to high triple-digit million euro amount in 2019, Chief Financial Officer Nicolas Peter said in a statement on Monday. BMW still aims to reach an o... More »
(Reuters) – Verizon Communications Inc and Samsung Electronics Co Ltd on Monday confirmed long-held industry expectations they would seek to steal a march on Apple Inc by launching U.S. 5G smartphones in the first half of 2019. The two companies said in a stat... More »
WASHINGTON/SHANGHAI (Reuters) – U.S. President Donald Trump said China had agreed to cut import tariffs on American-made cars, buoying shares in BMW and Daimler AG who manufacture in the United States for export to the world’s biggest auto market. Shares of Ch... More »
LONDON (Reuters) – Glencore (GLEN.L) has appointed Peter Freyberg to the newly created role of head of industrial mining, the global trader and miner said on Monday, while its head of copper marketing Telis Mistakidis retires at the end of the year. The London... More »
WASHINGTON (Reuters) – Uber Technologies Inc on Monday confirmed it hired a senior U.S. auto safety official involved in the federal government’s handling of self-driving cars for its autonomous vehicle efforts. Nat Beuse, a long-time official at the National ... More »
HONG KONG/NEW YORK (Reuters) – Tencent Music Entertainment launched its hotly-anticipated U.S. initial public offering (IPO) of up to $1.2 billion on Monday after global stock markets were boosted by a truce brokered by U.S. and Chinese leaders in their trade ... More »
PARIS (Reuters) – French President Emmanuel Macron will urge a visiting group of top Silicon Valley venture capitalists this week to invest in the nation’s start-ups while calling on them not to “steal” the best creations, four sources told Reuters. The discre... More »
CAPE TOWN (Reuters) – A South African court on Monday granted a class action certificate to victims of listeriosis, paving the way for them to claim against Tiger Brands (TBSJ.J) after the world’s largest ever outbreak claimed more than 200 lives in the countr... More »
