BERLIN (Reuters) – German manufacturers’ recovery from lockdown measures continued last month, with output growing at the fastest pace since February 2018, a survey showed on Tuesday. IHS Markit’s final Purchasing Managers’ Index (PMI) for manufacturing, which... More »
SEOUL (Reuters) – South Korean prosecutors indicted Samsung Group leader Jay Y. Lee on charges of manipulating stock prices and breach of trust in order to cement control of the group, a prosecution official said on Tuesday. Considering the gravity of manipula... More »
BOSTON (Reuters) – Investor Fredric Zaino, who spent 15 years at hedge fund Millennium Management, has launched his own firm and plans to invest in micro-, small- and mid-cap public and private companies focusing on biotech, real estate and consumer products. ... More »
MOSCOW (Reuters) – A Russian court on Monday fined Google 1.5 million roubles ($20,350) after finding it guilty of failing to block content banned in Russia, the Interfax news agency reported. Source: https://www.reuters.com/article/us-russia-alphabet-lawsuit/... More »
LONDON (Reuters) – BP (BP.L) will need to invest tens of billions of dollars over the next decade and may have to accept lower returns than it can get from oil if it is to meet its target of becoming one of the world’s largest renewable power generators. The B... More »
(Reuters) – Alphabet Inc’s (GOOGL.O) Google is buying a 6.6% stake in home security firm ADT Inc (ADT.N) for $450 million in a deal that will allow it to provide service to customers of its Nest home security devices. ADT said on Monday the companies will work... More »
(Reuters) – Lordstown Motors has agreed to go public through a merger with blank-check company DiamondPeak Holdings in a deal that values the electric pickup truck start-up at pro forma equity value of $1.6 billion, the companies said on Monday. The combined c... More »
MOSCOW (Reuters) – Russia’s finance ministry said on Monday it would scrap an agreement with Cyprus aimed at avoiding double taxation after talks to modify the deal failed, and that legal changes would make it more profitable for people to transfer money back ... More »
SHANGHAI (Reuters) – Zoom Video Communications (ZM.O) will shift to a partner-only model in mainland China from Aug. 23, suspending direct sales to all customers in the region, the company said on Monday. Zoom customers in China received an email on Monday inf... More »
BERLIN (Reuters) – The German parliament’s financial committee will hold an extraordinary meeting on the Wirecard (WDIG.DE) scandal on Wednesday next week and Finance Minister Olaf Scholz is expected to be there, a Social Democrat (SPD) lawamker said on Monday... More »
(Reuters) – Walt Disney (DIS.N) has become the latest company to slash its advertising spending on Facebook Inc (FB.O) as the social media giant faces an ad boycott over its handling of hate speech and controversial content, the Wall Street Journal reported on... More »
MILAN (Reuters) – Italy’s Intesa Sanpaolo (ISP.MI) on Friday raised its bid for rival UBI Banca (UBI.MI) by 18%, adding a cash sweetener to secure investor backing for its plan to create the euro zone’s seventh-largest banking group. In mid-February, just befo... More »
(Reuters) – Pershing Square Tontine Holdings Ltd, the blank check company backed by billionaire investor Bill Ackman, has increased the size of its initial public offering by $1 billion to $4 billion, the largest ever IPO by a special purpose acquisition compa... More »
(Reuters) – Electric car maker Fisker will go public through a merger with a blank check company backed by private equity firm Apollo Global Management Inc at a valuation of $2.9 billion, the companies said on Monday. Reuters reported last week that the specia... More »
NEW DELHI (Reuters) – India’s Reliance Industries said on Sunday Qualcomm Inc’s investment arm will buy a 0.15% stake in its digital unit Jio Platforms for 7.3 billion rupees ($97.1 million). The partnership will help Jio Platforms, the unit that houses Relian... More »
LONDON (Reuters) – British industrial output recorded its biggest quarterly fall on record during the three months to June as COVID-19 heavily disrupted operations, and a further decline is likely in the months to come, a survey showed on Monday. The Confedera... More »
BERLIN (Reuters) – Regulators worked hard and did their job in the case of payments firm Wirecard, which on Monday said that 1.9 billion euros ($2.13 billion) missing from its accounts was likely never there, Finance Minister Olaf Scholz said on Monday. “I thi... More »
(Reuters) – General Electric Co (GE.N) on Monday tapped the planemaking head of Brazil’s Embraer (EMBR3.SA) to run its key aircraft engines division on Monday, as the global aviation industry grapples with disruption caused by the COVID-19 pandemic. Irishman J... More »
NEW YORK, June 10 (Reuters) – U.S. money market fund assets decreased by $24.84 billion to $4.668 trillion in the week ended June 9, the Money Fund Report said on Wednesday. Taxable money market fund assets decreased by $24.31 billion to $4.534 trillion, while... More »
LONDON (Reuters) – British businesses have borrowed nearly 35 billion pounds ($44 billion) under three emergency credit programmes for companies hit by the coronavirus crisis with demand strongest for a 100% state-backed scheme for the smallest firms. After a ... More »
FRANKFURT (Reuters) – The European Central Bank is contemplating whether to extend a request to banks to hold off on dividend payments and share buybacks, and hopes to provide more clarity in July, Andrea Enria, its chief bank supervisor said on Tuesday. The E... More »
TOKYO (Reuters) – Mitsubishi Motors Corp (7211.T) on Tuesday posted an 89% drop in annual operating profit in the year ended March as the Japanese automaker took a hit from falling vehicle sales as the coronavirus pandemic takes its toll on global demand for c... More »
TOKYO (Reuters) – Sony Corp (6758.T) will turn its financial arm, Sony Financial Holdings Inc (8729.T), into a wholly owned unit through a tender offer worth about 400 billion yen ($3.72 billion), the Japanese electronics and entertainment giant said on Tuesda... More »
TOKYO (Reuters) – SoftBank Group Corp is in talks to sell “a significant portion” of its T-Mobile US stake to controlling shareholder Deutsche Telekom AG, the Wall Street Journal reported on Monday, citing unidentified sources. A deal would see Deutsche Teleko... More »
BEIJING (Reuters) – China announced on Tuesday a new list of 79 U.S. products eligible for waivers from retaliatory tariffs imposed at the height of the bilateral trade war, amid continued pressure on Beijing to boost imports from the United States. China’s fi... More »
(Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk on Monday said production was resuming at the automaker’s sole U.S. vehicle factory, in California, defying an order to stay closed and saying if anyone had to be arrested it should be him. The move come... More »
HONG KONG (Reuters) – Tim Hortons China said Tuesday it received an investment from Chinese tech giant Tencent, as the Canadian coffee brewer seeks to expand in the Chinese market. Tim Hortons said in a statement on its Weibo it will use the funds to upgrade d... More »
(Reuters) – Tesla Inc sued local authorities in California on Saturday as the electric carmaker pushed to re-open its factory there and Chief Executive Elon Musk threatened to move Tesla’s headquarters and future programs from the state to Texas or Nevada. Mus... More »
(Reuters) – J. Crew Group Inc filed for bankruptcy protection on Monday with a plan to hand over control to lenders, adding to a list of brick-and-mortar retailers pushed to the brink by widespread store closures in response to the COVID-19 pandemic. The New Y... More »
PRAGUE (Reuters) – Czech carmaker Skoda Auto, part of the Volkswagen Group (VOWG_p.DE), reported a 25% drop in first-quarter operating profit on Monday, but said the biggest hit from the coronavirus outbreak would come in the second quarter. Skoda, the Czech R... More »
(Reuters) – Apple Inc on Monday launched an updated version of its MacBook Pro with modified keyboards, as the laptop line had faced criticism for typing-related problems, while boosting performance and adding storage. Apple said here its new lineup of MacBook... More »
(Reuters) – General Electric Co (GE.N) said on Monday it was planning to cut the global workforce of its aviation unit this year by as much as 25%, or up to 13,000 jobs, including both voluntary and involuntary layoffs, citing prolonged aircraft reduction sche... More »
(Reuters) – Shares of the top four U.S. airlines dropped on Monday after billionaire investor Warren Buffett said Berkshire Hathaway (BRKa.N) offloaded its entire stake in the carriers last month, adding to the sense of crisis around the industry. U.S. airline... More »
(Reuters) – Moderna Inc and Swiss contract drugmaker Lonza Group AG said on Friday they would accelerate the manufacturing of the U.S. drug developer’s potential coronavirus vaccine. The announcement comes at a time when drugmakers are pausing clinical trials ... More »
NEW YORK, April 29 (Reuters) – U.S. money market fund assets increased by $72.69 billion to $4.652 trillion in the week ended April 28, the Money Fund Report said on Wednesday. Taxable money market fund assets increased by $74.71 billion to $4.515 trillion, wh... More »
BERLIN (Reuters) – The German government and the federal state of Hesse have agreed to provide Condor with loans worth 550 million euros ($596.31 million), the economy minister said on Monday, after the owner of Poland’s LOT pulled out of a deal to buy the air... More »
BERLIN (Reuters) – Adidas (ADSGn.DE) reported a 93% plunge in first-quarter profit and sales off 19%, missing forecasts, and warned of a deeper hit to second-quarter revenue as lockdowns forced the German sportswear maker and other retailers to close stores. F... More »
BEIJING (Reuters) – Starbucks on Monday said it has entered a strategic partnership with investment firm Sequoia Capital China that will see the two companies make strategic co-investments in China’s technology sector. The U.S. coffee giant said in a statement... More »
BERLIN (Reuters) – Germany changed course on Sunday over which type of smartphone technology it wanted to use to trace coronavirus infections, backing an approach supported by Apple and Google along with a growing number of other European countries. Countries ... More »
WASHINGTON (Reuters) – The five-member Federal Communications Commission voted unanimously to approve an order to allow Ligado Networks[MOSAV.UL] to deploy a low-power nationwide 5G network despite objections from the U.S. Defense Department, other federal age... More »
BERLIN (Reuters) – A rift has opened up over the design of smartphone apps to trace people in Europe at risk of coronavirus infection, potentially hindering efforts to curb the pandemic and ease crippling travel restrictions. Scientists and researchers from mo... More »
BEIJING (Reuters) – China said on Monday there was no discrimination against “African brothers” in the country and rejected U.S. accusations of mistreatment of Africans in Guangzhou as an attempt to harm Beijing’s relations with African nations. Foreign minist... More »
WASHINGTON (Reuters) – Congressional leaders and U.S. Treasury Secretary Steven Mnuchin will hold bipartisan negotiations on the contents of a new coronavirus response bill with the goal of reaching a deal by early next week, Senate Democratic Leader Chuck Sch... More »
BEIJING (Reuters) – China’s foreign ministry said on Friday that Beijing is opposed to any action by the United States to revoke China Telecom Corp’s authorisation to provide international telecommunications to and from the United States. Chinese foreign minis... More »
(Reuters) – Boeing Co said on Monday it would send its Starliner astronaut spacecraft on another unmanned mission to the International Space Station, months after its last flight was cut short because of a software bug. During the December test, a series of so... More »
LONDON (Reuters) – A group representing Britain’s car industry cut its sales forecast for this year by 23% to 1.73 million vehicles because of the impact of the coronavirus crisis. The figure represented a 25% fall from the number of new car registrations in 2... More »
NEW YORK (Reuters) – Engineers at Tesla Inc (TSLA.O) showed a prototype for a ventilator on Sunday evening in a video published on the company’s YouTube channel, as hospitals around the country overwhelmed by coronavirus patients face device shortages. The des... More »
(Reuters) – FedEx Corp (FDX.N) said on Friday it would slash its chief executive officer’s pay and draw down $1.5 billion from a credit facility as delivery services take a hit from coronavirus-led lockdowns across the globe. The company, which also suspended ... More »
(Reuters) – 3M Co (MMM.N) said on Friday it would increase the production of respirators and import more masks into the United States, after President Donald Trump invoked a law to help ease a shortage in the items needed to protect health staff against the co... More »
(Reuters) – Ford Motor Co (F.N) said on Friday Chief Executive Officer Jim Hackett’s total compensation fell to $17.4 million in 2019 from $17.8 million in 2018. The ratio of Hackett’s annual compensation to the median of the annual compensation of all employe... More »
DUBAI (Reuters) – Walt Disney Co’s (DIS.N) Disney+ content will be available for the first time in the Middle East and North Africa on regional pay television and online streaming service provider OSN from April 9. Dubai-headquartered OSN has signed a “long-te... More »
TOKYO (Reuters) – Japan’s Shionogi & Co (4507.T), creator of the blockbuster cholesterol treatment Crestor, said on Monday it would tie up with Ping An Insurance Group Co of China (601318.SS), selling a 2.05% voting stake for 33.53 billion yen ($311 million). ... More »
(Reuters) – The White House’s top trade advisor denied on Tuesday that the Trump administration was considering a three-month deferral of tariff payments on imported goods to ease the pain of the economic shutdown caused by the coronavirus pandemic. Industry g... More »
(Reuters) – Private rocket company SpaceX had an incident during parachute testing for its Crew Dragon capsule, in which the simulated spacecraft being tested became unstable and was dropped early, according to a tweet from a CNBC reporter. No one was injured ... More »
TBILISI (Reuters) – Georgia on Monday banned all foreigners from entering the country over coronavirus concerns the prime minister’s spokesman, Irakli Chikovani, told a briefing. Georgia has reported 33 confirmed cases of coronavirus. Source: https://www.reute... More »
LONDON (Reuters) – Sovereign wealth fund investment in venture capital deals slipped to its lowest level in six years in 2019, with the drop-off deepening in the months after WeWork’s planned share sale failed, data showed on Friday. Sovereign wealth-backed ve... More »
NEW YORK (Reuters) – Blackstone Group Inc and Apax Partners LLP are among the buyout firms that have had to delay their annual meetings with their private equity fund investors or carry them out remotely because of travel restrictions imposed amid the global o... More »
BEIJING (Reuters) – China on Monday reiterated a call for dialogue in response to North Korea’s latest missile launch and said all sides involved in efforts to rid the Korean Peninsula of nuclear weapons should reconcile conflicts through discussion. Foreign m... More »
BEIJING/SHANGHAI (Reuters) – The Chinese city at the center of the coronavirus epidemic closed its first makeshift hospital, one of 16 hurriedly built to handle the epidemic, after it discharged the last recovered patients, state broadcaster CCTV reported on M... More »
BEIJING (Reuters) – China’s foreign ministry said on Monday that Beijing was not considering issuing travel advisories for countries such as South Korea and Japan that are reporting an increase in coronavirus cases. Chinese foreign ministry spokesman Zhao Liji... More »
MILAN (Reuters) – Italy’s biggest bank UniCredit (CRDI.MI) said on Monday Chief Executive Jean Pierre Mustier had confirmed he would remain in his role, following media reports that he was being considered for the top job at rival HSBC (HSBA.L). UniCredit rece... More »
SAN FRANCISCO (Reuters) – Facebook’s former sustainability chief has launched an organization to help employees at big companies press their bosses for more aggressive policies to fight climate change. Hundreds of companies have committed to reducing emissions... More »
NEW YORK, Feb 19 (Reuters) – U.S. money market fund assets decreased by $3.64 billion to $3.575 trillion in the week ended Feb 18, the Money Fund Report said on Wednesday. Taxable money market fund assets decreased by $2.80 billion to $3.440 trillion, while ta... More »
SHANGHAI (Reuters) – China’s top electric vehicle battery maker CATL (300750.SZ) said on Monday it has signed a battery supply agreement with Tesla (TSLA.O). Tesla will determine the battery purchase volume between July 2020 and June 2022, according to its own... More »
LONDON (Reuters) – Sovereign wealth funds’ investment moves are becoming more closely aligned with the global asset management industry as they mature, and their growing size makes it harder for them to make contrarian bets, a report showed. But the move to mo... More »
ZURICH (Reuters) – Roche (ROG.S) entered into a $1.15 billion licensing agreement with Sarepta Therapeutics (SRPT.O) to obtain the right to launch and commercialize Sarepta’s investigational gene therapy for Duchenne muscular dystrophy (DMD) outside the United... More »
STOCKHOLM (Reuters) – Appliance maker Electrolux AB (ELUXb.ST) said on Sunday its North American business would take a higher than forecast $70 million earnings hit in the fourth quarter, partly due to extra costs related to its move into a new facility in Sou... More »
(Reuters) – Private equity firm Silver Lake on Monday named company veterans Egon Durban and Greg Mondre to the newly formed roles of co-chief executive officers. The firm, which manages over $43 billion in combined assets, said Durban and Mondre, who were man... More »
BERLIN (Reuters) – Germany’s export-dependent manufacturing sector contracted at a slower pace for the second month in a row in November, a survey showed on Monday, as companies sounded optimistic about their future business. IHS Markit’s Purchasing Managers’ ... More »
BRUSSELS/FRANKFURT (Reuters) – Euro zone inflation accelerated faster than expected in November on a rise in food and services prices, likely comforting European Central Bank policymakers even if some factors pushing up prices may be only temporary. The ECB ha... More »
LONDON (Reuters) – Sovereign wealth funds regained their appetite for equities in the third quarter, piling into passively managed stocks in the United States and equities in mainland China and elsewhere, according to eVestment data. Passively managed S&P 500 ... More »
(Reuters) – An Airbus-backed air racing tournament unveiled an electric-powered sports aircraft on Sunday, billed as the world’s first, as the European planemaker seeks to boost its green aerospace technology. Several companies, including U.S. ride-hailing com... 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 »
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 »
(Reuters) – HSBC Holdings Plc (HSBA.L) is planning to cut up to 10,000 jobs, more than 4% of its workforce, as interim Chief Executive Officer Noel Quinn seeks to reduce costs across the banking group, the Financial Times reported on Sunday. The plan represent... More »
(Reuters) – CVS Health Corp said on Saturday it will discontinue sales the popular Zantac heartburn treatment and its own generic ranitidine products from its pharmacies after traces of a known carcinogen were found in some of the products by the U.S. Food and... More »
(Reuters) – As U.S health officials scramble to identify the root cause of hundreds of severe lung illnesses tied to vaping, one possible culprit identified so far is a line of illicit marijuana vape products sold under the brand names “Dank Vapes” and “Chroni... More »
LAGOS (Reuters) – “Oya!” shouts the director in Nigerian Pidgin English. Actors take their marks. Lighting blinks on. The film crew snaps into action after the order to hurry up. It’s another day in Nollywood, the affectionate nickname for Nigeria’s film indus... More »
LONDON (Reuters) – Sovereign wealth funds’ distaste for equities mostly faded in the second quarter, with some investors turning to emerging- market passive equity funds, data from the research firm eVestment showed on Thursday. Passively managed equity funds ... More »
LONDON (Reuters) – Uber (UBER.N) appointed a new boss for Britain and Ireland on Monday just over a month before its licence expires in London, one of its most important global markets where the regulator has previously stripped it of its right to operate. Tra... More »
MOSCOW (Reuters) – Russia’s state communications watchdog has asked Google (GOOGL.O) to stop advertising “illegal mass events” on its YouTube video platform, it said on Sunday. Tens of thousands of Russians staged what observers called the country’s biggest po... More »
BEIJING (Reuters) – Chinese state media said on Sunday the United States has shipped several million tonnes of soybeans to China since the two countries’ leaders met in June, although U.S. government data shows that the volume was much less. The U.S.-China tra... More »
(Reuters) – Wells Fargo & Co said on Wednesday Julia Wellborn will become the head of Private Wealth Management, ending a months-long search for a leader following the retirement of Jay Welker last year. Wellborn joins Wells Fargo from Comerica Bank where she ... 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 »
NAIROBI (Reuters) – Ethiopia will award two telecoms licenses to multinational mobile companies, a senior official said on Friday, in the first detailed announcement of the government’s plans for opening one of the world’s last major closed telecom markets. Th... 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 »
NEW YORK (Reuters) – A former executive of collapsed Dubai private equity firm Abraaj Capital Ltd on Friday pleaded guilty to U.S. fraud and conspiracy charges, admitting that he lied to investors about the firm’s financial health and track record. Former Abra... 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 »
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 »
(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 »
NEW YORK (Reuters) – U.S. money market fund assets rose for a sixth consecutive week, bringing the total to a fresh nine-plus year peak as investors piled cash into low-risk funds on concerns about global trade tensions, a private report released on Wednesday ... 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 »
SHANGHAI (Reuters) – China’s Ministry of Industry and Information Technology (MIIT) will roll out commercial 5G licenses “in the near future”, Xinhua said. It did not provide further details. Beijing had granted licenses at the end of 2018 to China’s three sta... 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 »
(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 »
(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 »
(Reuters) – Facebook Inc is in talks with the U.S. derivatives regulator, the Commodity Futures Trading Commission (CFTC), over the social media company’s plans for a digital currency, the Financial Times reported on Sunday. The regulator is in the early stage... More »
NEW YORK (Reuters) – U.S. money market fund assets rose for a fifth consecutive week, bringing its total to more than a nine-year high as investors pour cash into low-risk funds on concerns about escalating U.S.-China trade tensions, a private report released ... More »
MEXICO CITY (Reuters) – Mexico’s hospitals are reeling under steep budget cuts by the country’s new government, with surgery delays for children, reductions in testing and staffing shortages, hospital directors said on Friday, fanning anger over President Andr... More »
