(Reuters) – Amazon.com Inc filed a lawsuit in a federal U.S. court on Friday contesting the U.S. Defense Department’s decision last month to award a Pentagon cloud computing contract worth up to $10 billion to rival bidder Microsoft Corp. The complaint and sup... More »
LONDON (Reuters) – World shares were close to a record high on Monday, after Beijing surprised markets by trimming a key interest rate for the first time since 2015. In the latest show of support for its economy, China’s central bank cut rates on seven-day rev... More »
DUBAI (Reuters) – Dubai state-owned airline Emirates [EMIRA.UL] was close to a deal on Monday to finalize at least part of a provisional order for 70 wide-body aircraft from Europe’s Airbus (AIR.PA), industry sources said. The Dubai carrier has scheduled a new... More »
DUBAI (Reuters) – Abu Dhabi-based Etihad Airways still has a long way to go to become profitable, Group CEO Tony Douglas said on Monday. “We are slightly ahead of where we plan to be. And if we stay focused will see a very strong Etihad,” Douglas told reporter... More »
NEW DELHI (Reuters) – India’s cabinet has given ‘in-principle’ approval for the sale of strategic stakes in 28 state-run companies including state carrier Air India [AIN.UL], junior finance minister Anurag Singh Thakur told lawmakers on Monday. The government ... More »
SINGAPORE (Reuters) – Oil prices inched higher on Monday, extending steady gains from the previous week, with investors awaiting fresh clues over prospects for a trade deal between the United States and China and shrugging off concerns over steadily rising oil... More »
ZURICH (Reuters) – UBS’s (UBSG.S) Sergio Ermotti wants to remain as chief executive of Switzerland’s biggest bank until 2021, Swiss website Finews reported on Monday, citing unnamed sources. There has been speculation about the 59-year-old’s departure date aft... More »
TOKYO (Reuters) – Almost a fifth of Japanese households use electronic money for small purchases, a survey by a central bank-affilated research institute showed, up from a year ago and a sign the country’s cash-hoarding culture is changing. In the survey publi... More »
ROME (Reuters) – ArcelorMittal (MT.AS) is drafting a plan to re-commit to the 2018 deal, under which it bought the troubled Ilva steel plant in southern Italy, on three conditions, Il Messaggero daily reported on Monday. After withdrawing from the contract, th... More »
DUBAI (Reuters) – Russia’s military export sales have not fallen despite U.S. sanctions, the head of state conglomerate Rostec said on Monday. Rostec, whose business includes weapons manufacturer Kalashnikov as well as Russian Helicopters and United Aircraft C... More »
DUBAI (Reuters) – India has made an advance payment of $800 million for Russia’s S-400 anti-aircraft missile systems, the head of Russian conglomerate Rostec Sergey Chemezov told reporters on Monday. Chemezov said negotiations were underway and a contract with... More »
DUBAI (Reuters) – Kuwait’s Jazeera Airways (JAZK.KW) is unhappy with delivery delays of Airbus (AIR.PA) aircraft and has no plans to place an order at this week’s Dubai Airshow, its chief executive said. Airbus and Boeing (BA.N) are vying for an order of up to... More »
DUBAI (Reuters) – Airbus (AIR.PA) and Boeing (BA.N) fought to save billions of dollars of jet deals on Sunday as host airline Emirates kept the Dubai Airshow in suspense over dozens of tentative orders designed to fine-tune the world’s largest international ai... More »
LOS ANGELES (Reuters) – The Mustang Mach E electric sport utility vehicle Ford Motor Co (F.N) unveiled in Los Angeles on Sunday is more than another car for the storied automaker. The Mach E has become within Ford a high-profile test for a restructuring that h... More »
SHANGHAI (Reuters) – China’s central bank unexpectedly trimmed a closely watched lending rate on Monday, the first such cut in more than four years and a signal to markets that policymakers are ready to act to prop up slowing growth. The People’s Bank of China... More »
WASHINGTON (Reuters) – The Trump administration is set to issue a 90-day extension of a license on Monday allowing U.S. companies to continue doing business with China’s Huawei Technologies Co Ltd [HWT.UL], two sources familiar with the deliberations said. Reu... More »
SEOUL (Reuters) – Samsung’s plan to outsource a fifth of its smartphone production to China next year may help it compete with low-cost rivals such as Huawei and Xiaomi but it’s a strategy fraught with risks, people with familiar with the move said. Samsung El... More »
(Reuters) – An Oklahoma judge on Friday said Johnson & Johnson must pay that state $465 million for fueling the opioid epidemic through the deceptive marketing of painkillers, down from his original award of $572 million. The decision by Cleveland County Distr... More »
WASHINGTON (Reuters) – Boeing’s multibillion dollar contract to build U.S. astronaut capsules received an “unnecessary” extension from NASA, a watchdog report said on Thursday, the latest management blunders in the agency’s program to restart domestic human sp... More »
(Reuters) – Bernard J. Tyson, chairman and chief executive officer of not-for-profit health insurer Kaiser Permanente, died unexpectedly in his sleep on Sunday, aged 60, the company said in a statement. Tyson, who held the top job since 2013, was Oakland, Cali... More »
LONDON (Reuters) – Oil prices dipped on Monday after U.S. President Donald Trump appeared to downplay reports of an imminent lifting of tariffs in a protracted U.S.-Chinese trade war. Brent crude was down 87 cents at $61.64 by 1030 GMT. The contract gained 1.3... More »
BEIJING (Reuters) – New bank loans in China fell more than expected to the lowest in 22 months in October, but the drop was likely due to seasonal factors and policymakers are still expected to ramp up support for the cooling economy in coming months. Chinese ... More »
HONG KONG (Reuters) – Swiss bank UBS (UBSG.S) was fined HK$400 million ($51.09 million) by Hong Kong’s securities regulator for overcharging up to 5,000 clients for nearly a decade, the watchdog said on Monday. The Hong Kong Securities and Futures Commission (... More »
(Reuters) – European shares edged lower for a second session on Monday as an escalation in Hong Kong protests, an inconclusive Spanish election and Moody’s warning on Britain’s sovereign debt made for a gloomy start to the week. The pan-European STOXX 600 inde... More »
MOSCOW (Reuters) – Russia’s central bank sees some room to further cut its key rate, First Deputy Governor Ksenia Yudayeva said on Monday. “…in principle, we currently see certain room for a further reduction, but we have to follow the situation very closely, ... More »
FRANKFURT (Reuters) – European Union banks have put in place all the plans for Brexit but execution is lagging as lenders await the outcome of negotiations between Britain and the EU, European Central Bank banking supervisor Andrea Enria said on Monday. Some b... More »
LONDON (Reuters) – Shares across the globe fell on Monday, buffeted by escalating violence in Hong Kong that pushed Asian stocks to their worst day since August and stoked demand for the safe-haven yen and gold. In the 24th straight week of pro-democracy unres... More »
KINSHASA (Reuters) – The Congolese central bank expects the economy to grow 4.6% in 2019, after revising down an earlier estimate of 5.1% during a policy meeting on Friday. The new figure is more in line with a forecast from the International Monetary Fund, wh... More »
LONDON/AMSTERDAM (Reuters) – Prosus PRX.AS held firm on its $6.3 billion offer to buy Just Eat (JE.L) on Monday as it argued the merits of its bid versus one from Takeaway.com for the British online takeaway delivery firm. The one change in the offer published... More »
HANGZHOU, China (Reuters) – Chinese retailer Alibaba Group Holding Ltd said on Monday that sales for its annual Singles’ Day shopping blitz crossed the $30 billion mark at 4:31 p.m. (0831 GMT), putting the event on track to set a record in its 11th year. The f... More »
SHANGHAI (Reuters) – China’s dominant e-commerce firm Alibaba Group Holding raked in $23 billion worth of sales in the first nine hours of its annual Singles’ Day shopping extravaganza on Monday, setting records as the event celebrates its 11th year. The 24-ho... More »
BEIJING/SHANGHAI (Reuters) – Fewer new energy vehicles (NEV) could be sold in China this year than in 2018, an official at the country’s biggest auto industry association said on Monday, as customers hold back on purchases following a government decision to cu... More »
(Reuters) – Malaysian budget carrier AirAsia Group Bhd (AIRA.KL) said on Monday it would transfer two slots on its Kuala Lumpur-Singapore route, its most profitable, to long-haul sister airline AirAsia X Bhd (AIRX.KL), which has been struggling financially. Th... More »
BEIJING/SHANGHAI (Reuters) – China’s auto industry executives met with government officials over the weekend to discuss ways to promote higher car sales in rural areas, sources familiar with the matter said. The country’s car manufacturers are grappling with t... More »
(Reuters) – Apple Inc (AAPL.O) co-founder Steve Wozniak joined in the online debate over accusations of gender discrimination by the algorithm behind the iPhone maker’s credit card, fuelling scrutiny of the newly launched Apple Card. The criticism started on T... More »
BENGALURU (Reuters) – A probe into Goldman Sachs Group Inc’s credit card practices has been initiated after tweets from a tech entrepreneur alleged gender discrimination in the new Apple Inc card algorithms that are used to determine credit limits. In a series... More »
FRANKFURT (Reuters) – Siemens (SIEGn.DE) Chief Executive Joe Kaeser on Friday lamented Germans who fail to recognize true visionaries and instead admire pot smokers who talk about space travel, only days after his deputy praised Tesla CEO Elon Musk. “Amusing o... More »
(Reuters) – Blackstone Group Inc (BX.N) is taking a majority stake in MagicLab, the parent company of dating app “Bumble” and “Badoo”, valuing the company at about $3 billion, the private equity firm said in a statement on Friday. Following the deal, Andrey An... More »
(Reuters) – Ben & Jerry’s has been sued by an environmental advocate who said it deceived consumers by touting that the milk and cream it uses to make ice cream came exclusively from “happy cows.” In a complaint filed last week, James Ehlers said Ben & Jerry’s... More »
DHAHRAN, Saudi Arabia/DUBAI (Reuters) – Saudi Arabia’s giant state oil company finally kick-started its initial public offering (IPO) on Sunday, announcing its intention to float on the domestic bourse in what could be the world’s biggest listing as the kingdo... More »
LONDON (Reuters) – The euro edged down on Monday as investors awaited Christine Lagarde’s first speech as European Central Bank president, but hopes that the United States may choose not to impose tariffs on auto imports kept it near its highest level in weeks... More »
NEW YORK/BEIJING/WASHINGTON (Reuters) – The U.S. government has launched a national security review of TikTok owner Beijing ByteDance Technology Co’s $1 billion acquisition of U.S. social media app Musical.ly, according to three people familiar with the matter... More »
BEIJING (Reuters) – Short video-sharing app TikTok has become the latest Chinese firm caught in U.S. regulatory crossfire, with Washington launching a national security review of its $1 billion acquisition of U.S. social media app Musical.ly. The review of Tik... More »
SINGAPORE (Reuters) – Oil prices eased on Monday as traders took profit ahead of fresh European and U.S. economic data, despite hopes for some resolution to the U.S.-China trade row that has hurt global economic growth and crimped energy demand. Prices jumped ... More »
SHANGHAI (Reuters) – Asian shares surged on Monday, with a broad regional gauge hitting more than 14-week highs, as growing optimism over U.S.-China trade talks and upbeat U.S. job data boosted global investors’ appetite for riskier assets. MSCI’s broadest ind... More »
WELLINGTON (Reuters) – New Zealand said on Monday it has concluded a deal to upgrade its free trade agreement with China which has been under negotiations for years. The upgraded agreement will make exporting to China easier and reduce compliance costs for New... More »
MANILA (Reuters) – Philippine annual inflation likely eased for a fifth straight month in October due to high base effects from the previous year as well as lower fuel and rice prices, a Reuters poll showed. The median forecast in a poll of 10 economists was f... More »
(Reuters) – McDonald’s Corp dismissed Chief Executive Steve Easterbrook over a recent consensual relationship with an employee, which the board determined violated company policy, the fast-food giant said on Sunday. The board found that Easterbrook, 52, who ha... More »
(Reuters) – Under Armour Inc (UAA.N) is under investigation by U.S. federal law enforcement officials over whether the sportswear maker shifted sales from quarter to quarter to appear financially healthier, the Wall Street Journal reported on Sunday. The Balti... More »
DUBAI (Reuters) – Aramco, as Saudi Arabian Oil Co is usually known, is set to add another superlative to the list: the world’s most valuable listed company. The sprawling state-owned oil giant announced on Sunday its intention to float on the Riyadh stock mark... More »
(Reuters) – U.S. Commerce Secretary Wilbur Ross said licenses for U.S. companies to sell components to China’s Huawei Technologies Co will come “very shortly,” in an interview with Bloomberg published on Sunday. Ross said the licenses “will be forthcoming very... More »
NEW YORK (Reuters) – A Manhattan judge has dismissed Uber Technologies Inc’s lawsuit challenging a New York City law limiting the number of licenses for ride-hailing services, the first such cap by a major American city. In a decision made public on Friday, Ne... More »
WASHINGTON (Reuters) – Apple Inc asked the Trump administration to waive tariffs on Chinese-made Apple Watches, iPhone components and other consumer products, according to company filings with the U.S. Trade Representative’s Office. The company on Thursday sou... More »
SINGAPORE (Reuters) – Thailand’s Siam Cement Pcl’s (SCG) (SCC.BK) packaging subsidiary is planning a local listing, in a float that is set to raise about $1 billion, two sources with knowledge of the matter said. The IPO of SCG Packaging Pcl (SCG Packaging), w... More »
TOKYO (Reuters) – Oil prices fell on Monday after strong gains last week, as data released in China reinforced signs that its economy is slowing, though progress in China-U.S. trade talks has supported prices. Brent crude was down 34 cents, or 0.4%, at $61.79 ... More »
SYDNEY (Reuters) – Asian shares rose to a three-month high on Monday, as risk assets got a fillip from hopes of a trade deal and strong U.S. corporate earnings, while major currencies marked time as focus shifted to a Federal Reserve rate decision. European sh... More »
(This story corrects first name in first paragraph) PARIS (Reuters) – Lazard (LAZ.N) said on Sunday it had appointed Jean-Louis Girodolle as CEO of Lazard Investment Banking in France, just a week after its chairman and CEO Matthieu Pigasse resigned. For the 1... More »
SYDNEY (Reuters) – Westpac Banking Corp (WBC.AX) staff inappropriately gave personal financial advice when marketing pension funds, an Australian court said, overturning an earlier ruling in a rare win for regulators under pressure to crack down on misconduct ... More »
DUBAI (Reuters) – Iran would need oil priced at $194.6 a barrel to balance its budget next year, the International Monetary Fund (IMF) said. Hurt by tighter U.S. sanctions, Iran – a key member of the Organization of the Petroleum Exporting Countries (OPEC) – i... More »
DUBAI (Reuters) – The International Monetary Fund (IMF) said it is assessing an emergency reform package announced by Lebanon’s government last week and stressed reforms should be implemented urgently given the country’s high debt levels and fiscal deficits. L... More »
TOKYO (Reuters) – The dollar traded near its highest in more than two months versus the yen on Monday ahead of a U.S. Federal Reserve meeting this week where policymakers are expected to cut interest rates but emphasize their reluctance to ease policy further.... More »
NEW YORK (Reuters) – The largest banking lenders to the oil and gas sector are becoming more cautious, marking down their expectations for oil and gas prices that underpin loans in a move expected to put further financial stress on struggling producers, indust... More »
BUENOS AIRES (Reuters) – Argentina’s central bank announced early Monday morning it would sharply cut the amount of dollars individuals could buy, amid concerns over outflows of foreign exchange reserves accelerating after President Mauricio Macri was voted ou... More »
(Reuters) – Warehouse giant Prologis Inc (PLD.N) said on Sunday it had agreed to acquire rival industrial real-estate business Liberty Property Trust (LPT.N) in a $12.6 billion deal to improve its U.S. presence amid the ecommerce boom. If approved, Prologis sa... More »
(Reuters) – Louis Vuitton owner LVMH (LVMH.PA) has approached Tiffany & Co (TIF.N) with a $14.5 billion acquisition offer, people familiar with the matter said, at a time when the U.S. luxury jeweler grapples with the impact of tariffs on its exports to China.... More »
BRASILIA (Reuters) – Brazil is determined to lure airlines to operate domestic flights in Latin America’s largest aviation market, and is taking meetings with at least three carriers, a senior government official told Reuters. “We are going to talk with Jet Bl... More »
WASHINGTON (Reuters) – Microsoft Corp. (MSFT.O) has won the Pentagon’s $10 billion cloud computing contract, the Defense Department said on Friday, beating out favorite Amazon.com Inc (AMZN.O). The contracting process had long been mired in conflict of interes... More »
WASHINGTON (Reuters) – Microsoft Corp (MSFT.O) has won the U.S. Pentagon’s $10 billion cloud-computing contract, the Defense Department said on Friday, beating out favorite Amazon.com Inc (AMZN.O). The contract, called the Joint Enterprise Defense Infrastructu... More »
(Reuters) – Microsoft Corp. (MSFT.O) said in a statement on Saturday that the company appreciates being chosen by the U.S. Defense department (DoD) for the Pentagon’s $10 billion Joint Enterprise Defense Infrastructure Cloud (JEDI) contract. “We look forward t... More »
FRANKFURT (Reuters) – Christine Lagarde will ensure European Central Bank policymakers climb down from their “ivory tower” and face the political realities of the euro zone, the ECB’s vice president, Luis de Guindos, said in an interview published on Saturday.... More »
FRANKFURT (Reuters) – European Central Bank President Mario Draghi told his successor on Thursday to “never give up” on propping up the euro zone economy in the face of a worsening outlook and little help from governments. At the last press conference of his e... More »
BERLIN/SAN FRANCISCO (Reuters) – Alphabet Inc’s Google said on Wednesday it had achieved a breakthrough in computing research by using a quantum computer to solve in minutes a complex problem that would take today’s most powerful supercomputer thousands of yea... More »
BERLIN (Reuters) – Researchers at Google say they have achieved ‘quantum supremacy’, in which a computer harnessing the properties of sub-atomic particles did a far better job of solving a problem than the world’s most powerful supercomputer. Given the task of... More »
SINGAPORE (Reuters) – Oil prices largely held steady on Monday, recouping some early losses as investors took stock of global economic pressures that could impact oil demand. Global benchmark Brent crude oil futures LCOc1 were down 1 cent to $59.41 a barrel by... More »
TOKYO (Reuters) – Japan’s major financial institutions are set to undergo a stress test to prepare for any major shakeout in financial markets in light of worries about a global recession and a protracted Sino-U.S. trade war, sources with direct knowledge of t... More »
BEIJING (Reuters) – New home prices in China grew at a steady pace in September, with fewer cities reporting price gains, a relief for policymakers who remain wary of high debt and bubble risk and are refraining from stimulating the sector as the economy cools... More »
(Reuters) – Qantas Airways (QAN.AX) and Virgin Australia Holdings Ltd (VAH.AX) were awarded one slot each to operate flights at Tokyo’s Haneda Airport, according to a draft decision by Australia’s International Air Services Commission (IASC). The opening at Ha... More »
LONDON, (Reuters) – Mario Draghi’s last meeting as European Central Bank chief this Thursday may prove a lively gathering given a deep rift among policymakers over renewed asset purchases that threatens the effectiveness of policy. After unleashing a wave of s... More »
TOKYO (Reuters) – Asian stocks edged up on Monday as Chinese shares reversed early losses, supported by hopes for progress in resolving the U.S.-China trade war, while sterling slipped after the British parliament delayed a crucial vote on a Brexit withdrawal ... More »
HONG KONG (Reuters) – UBS (UBSG.S) will cut up to 30 jobs in the major centres of Hong Kong, Singapore, Sydney and Tokyo after combining its global markets and banking businesses, a person with knowledge of the matter said. The job cuts at the Swiss bank start... More »
SEATTLE/WASHINGTON (Reuters) – Boeing Co said on Sunday it understood the outcry over leaked messages from a former test pilot over erratic software behavior on its 737 MAX jet two years before recent crashes, and added it was still investigating what they mea... More »
PARIS, (Reuters) – New regulations are forcing French banks to step up sales of bad loans even though their balance sheets are healthier than rivals in southern Europe, a study by Deloitte showed on Monday. European financial regulators are putting pressure on... More »
WASHINGTON (Reuters) – China’s top central banker said on Saturday that potential escalation of trade tensions and policy uncertainty were the major risk factors facing the world economy, and market forces were keeping China’s yuan at an appropriate level. Yi ... More »
NEW YORK (Reuters) – Technology companies, which make up the largest swath of the U.S. stock market, are expected to post a nearly 8% drop in third-quarter profits as reports roll in from many of the sector’s biggest corporations. But below the surface, the es... More »
NEW YORK (Reuters) – Thomson Reuters Corp (TRI.TO) is engaged in succession planning for Chief Executive Jim Smith as “a matter of good governance,” the business information company said on Sunday. The company statement BX.N) consortium last year. Earlier this... More »
WASHINGTON (Reuters) – Facebook Inc (FB.O), facing growing skepticism about its digital currency project Libra, on Sunday said the initiative could use cryptocurrencies based on national currencies such as the dollar, instead of the synthetic one it initially ... More »
WUZHEN, China (Reuters) – Chinese smartphone maker Xiaomi Corp plans to launch more than 10 5G phones in 2020, CEO Lei Jun said on Sunday, speaking at the World Internet conference in the eastern Chinese town of Wuzhen. Lei’s remarks come as the company faces ... More »
CLEVELAND (Reuters) – A landmark trial over the U.S. opioid epidemic is on track to begin on Monday after drug companies and local governments failed to agree on a settlement on Friday that had been expected to be valued at around $50 billion. Top executives o... More »
(Reuters) – Johnson & Johnson said on Friday its investigation into asbestos contamination of its baby powder could take 30 days or more, after announcing it planned to recall about 33,000 bottles of the product in the United States. The company said it had re... More »
(Reuters) – Johnson & Johnson said on Friday it is recalling around 33,000 bottles of baby powder in the United States after U.S. health regulators found trace amounts of asbestos in samples taken from a bottle purchased online. J&J shares fell more than 6% to... More »
NEW YORK (Reuters) – The U.S. Food & Drug Administration said on Friday that it found that a sample from one lot of Johnson & Johnson’s baby powder contained chrysotile fibers, a type of asbestos, confirming test results the company disclosed earlier on Friday... More »
(Reuters) – From the start of the sprawling U.S. litigation seeking to hold drugmakers and distributors liable for the country’s opioid epidemic, Judge Dan Polster has made one thing clear: he never wanted a trial. On Friday, Polster will make his most dramati... More »
(This October 13 story has been refiled to change timeframe in paragraph 2 to nine months, not eight months) BEIJING (Reuters) – China’s pork imports in September surged 76% from a year earlier while beef imports came close to a monthly record, as it stocked u... More »
BEIJING (Reuters) – A slide in China’s exports picked up pace in September while imports contracted for a fifth straight month, pointing to further weakness in the economy and underlining the need for more stimulus as the Sino-U.S. trade war drags on. Analysts... More »
LONDON (Reuters) – Neil Woodford has been ousted as manager of his flagship LF Woodford Equity Income Fund, which will now be wound up to pay back investors trapped in the fund since June. The fund’s administrator, Link Fund Solutions (LFS), said on Tuesday th... More »
VIENNA (Reuters) – Plane parts maker FACC’s (FACC.VI) operating profit fell 6% in the second quarter as it produced fewer components for the Airbus (AIR.PA) A380 and Boeing (BA.N) 737NG jets being phased out and start-up costs for new cabin interiors bit. Chin... More »
MADRID (Reuters) – Spain’s acting government trimmed its growth forecasts on Tuesday as part of draft budgetary plans submitted to the European Commission and raised a deficit estimate, at a time when political gridlock prevents Madrid from having much margin ... More »
FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) has postponed the final decision whether to build a car plant in Turkey, a company spokesman said, amid international criticism of the country’s military operation in Syria and concerns about potential reputational ... More »
LONDON (Reuters) – Fund manager Neil Woodford has criticized a fund administrator decision to close his suspended flagship fund on Tuesday, after a four-month lockdown that has seen values plunge by hundreds of millions of pounds. “This was Link’s decision and... More »
MUMBAI (Reuters) – Indian tax officials are pushing back against Prime Minister Narendra Modi’s new faceless tax assessment program, complaining about a lack of consultation and inadequate resources to implement the changes, a letter reviewed by Reuters shows.... More »
