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Reuters Video: Business
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Reuters Video: Business
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Saudi summit kicks off despite Khashoggi scandal
:Saudi's investment summit kicked off on Tuesday (October 23) despite boycotts over the killing of journalist Jamal Khashoggi in Turkey.
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KKR's Calsonic buys Fiat Chrysler's Magneti Marelli
Japan's Calsonic Kansei, owned by U.S. private equity firm KKR, has agreed to buy Fiat Chrysler's Magneti Marelli for $7.1 billion to form the seventh-largest independent car parts supplier. Roselle Chen reports.
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Netflix piles up on debt with new $2bln IOU
Netflix will tap debt markets for the second time this year with a $2 billion higher-interest bond offering as the streaming video service looks for more money to buy new content and stay ahead of the competition.
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Buy outside of the U.S, says Gregory Luken of Luken Analytics
This is the time to have an outsized position in international and emerging markets, says Gregory Luken, CEO & founder of Luken Investment Analytics. Aleksandra Michalska reports.
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Hasbro shares fall on disappointing results
Toymaker Hasbro missed analysts' estimates for quarterly revenue and profit, as the demise of major retail partner Toys 'R' Us hurt sales in the United States and Europe. Roselle Chen reports.
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Breakingviews TV: Rare stakes
Yahoo made one of the best investments ever in Alibaba, but the stake came to overshadow its business. Eventually it sold everything else and renamed itself Altaba. South African media group Naspers is in a similar bind with a $110 bln stake in Tencent. Jen Saba explains.
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Marlboro Man says it's time you quit smoking
Philip Morris, maker of Marlboro cigarettes, has launched a new campaign encouraging people to quit smoking. Anti-tobacoo campaigners say it's hypocrisy from a company that still promotes its products all around the world.
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The London pub with FTSE fluctuating beer
In London's financial district traders who've had a bad day on the floor, can at least have a cheap beer in this pub.
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Sterling falls on fear of challenge to PM May
Sterling fell on Monday as fears grew that the Irish border issue and disagreements within Britain's ruling Conservatives over Brexit could see Prime Minister Theresa May face a serious leadership challenge. Francis Maguire reports
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Siemens' CEO says he won't attend Saudi investment conference
Siemens' CEO Joe Kaeser says he's pulling out of Saudi Arabia's Future Investment Initiative conference as the Kingdom reportedly says it won't use oil embargo against Western consumers. Laura Frykberg reports.
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A Saudi boycott? It may not last
Businesses and government figures are avoiding Saudi Arabia following the disappearance of a dissident journalist. But the potential rewards of doing business in the country are such that it probably won't be shunned for long.
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Campaigns count on race, violence to rile voters
Many political ads in this year's U.S. elections pack an unusually harsh and personal punch - some with racial overtones.
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Week ahead: brace for incoming from big techs, ECB
Big techs Amazon, Alphabet and Microsoft compete for attention with the ECB when they post their quarterly results later this week. And as David Pollard reports, tensions over Saudi's alleged involvement in the death of a journalist may surface ahead of the kingdom's investor conference - from which many high profile guests have pledged to stay away.
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S&P slips on rate, trade concerns
The benchmark S&P 500 stock index slipped on Friday. As Fred Katayama reports, strong earnings from Procter & Gamble were offset by ongoing concerns about rising interest rates and geopolitical tensions.
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Musk touts 'cheaper' Model 3 that's $10K more than promised
Tesla CEO Elon Musk unveiled a newer, less expensive version of the Model 3 - that costs $10,000 more than he said it would when he debuted the vehicle in 2016..
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Breakingviews TV: Casino chips
The solid market debut of Macau’s Studio City resort belies bigger problems in the Asian gambling hub. Katrina Hamlin and Jeffrey Goldfarb discuss how the trade war, and American tycoons who have Donald Trump’s ear, could be factors for investors to consider.
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China consumer group blasts Apple over ID thefts
A Chinese consumer group criticized Apple over a recent data security issue. As Fred Katayama reports, it's calling on the iPhone maker to fully compensate affected consumers.
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New LSE boss in $500 million move to tighten hold on clearing
The London Stock Exchange tightened its grip on derivatives clearing on Friday in a sign of growing confidence that the threat of losing chunks of business to European Union rivals after Brexit was receding. David Pollard reports.
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China's economic growth hits weakest pace since 2009
China's economic growth cooled to its weakest quarterly pace since the global financial crisis, with regulators moving quickly to calm nervous investors as a years-long campaign to tackle debt risks and the trade war with the United States began to bite. Francis Maguire reports.
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Italy bond selloff deepens on EU budget warning
Italian government bond yields hit four-year highs on Friday, extending their rise after the European Union slammed Rome's draft budget. David Pollard reports.
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Wall Street drops on Italy, Saudi Arabia worry
U.S. stocks fell more than 1 percent on Thursday as the European Commission issued a warning regarding Italy's budget and concerns mounted over the possibility of strained relations between the U.S. and Saudi Arabia. Fred Katayama reports.
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MoviePass parent company under investigation for fraud
Helios and Matheson, the parent company of popular movie subscription service MoviePass is under investigation by the New York Attorney General's office for fraud. Fred Katayama reports.
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Facebook sets up "war room" to take down fake news
Facebook launched a unit called "war room" to combat disinformation and fake accounts ahead of midterms. Fred Katayama reports.
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Dow Transports in correction turf but stocks not headed for another leg down, says Kevin Kelly
The managing partner of Benchmark Investments tells Reuters' Fred Katayama investors need not look for market capitulation. He sees the 10-year Treasury yields topping out.
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Breakingviews TV: Uber’s debt
The car-hailing app just issued $2 bln of bonds, days after the WSJ said bankers were suggesting Uber could be worth $120 bln. That’s a big shift for a company that little more than a year ago was wrestling with reputational issues. It’s also a bit premature, Robert Cyran argues.
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Pound supported as Britain's May open to longer Brexit transition
The British pound recovered to trade flat on Thursday after Prime Minister Theresa May confirmed she was open to discussing an extension of the transition period after Brexit. David Pollard reports.
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U.S. opts not to call China a currency manipulator
The U.S. government refrained from naming China or any other trading partner a currency manipulator. Fred Katayama reports.
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European shares edge up as earnings quell Fed angst
European shares opened slightly higher on Thursday as a flurry of corporate trading updates somewhat quelled fears of fast-rising U.S. interest rates amid ongoing concerns the Sino-U.S. trade conflict could escalate and hurt the global economy. David Pollard reports.
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French minister and Thales CEO the latest to quit Saudi investor conference
More investors and politicians are pulling out of next week's Saudi conference following the disappearance and suspected murder of dissident journalist, Jamal Khashoggi. Laura Frykberg reports.
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Trade war: Japan's exports suffer but yuan spared by U.S.
Japan's exports fell in September for the first time since 2016 as shipments to the U.S. and China declined, likely impeding third quarter economic growth and adding to concerns about the broadening impact of an escalating Sino-U.S. trade war. As Sonia Legg reports, there are also concerns about the falling yuan even though Washington has refrained from labelling China a currency manipulator.
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Good time to diversify outside of U.S. stocks, says John Vail
Nikko Asset Management's chief global strategist tells Reuters' Fred Katayama that the outlook for global markets outside of emerging markets is bright, especially Japan.
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Tesla buys land in Shanghai
Tesla has signed an agreement with the Shanghai government for a plot of land to build its first overseas $2 billion Gigafactory. Fred Katayama reports.
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Canada legalizes weed
Canada became the first industrialized nation to legalize recreational cannabis. Fred Katayama reports.
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Breakingviews TV: Pot luck
Cannabis is legal for recreational use in Canada from today, but investors started celebrating long ago. Valuations have popped, deals are being struck and there are shades of last year’s bitcoin boom. John Foley and Jen Saba sift through the hype.
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Plugging the labour gap at the World Robot Summit in Japan
As robot-workers stacked packets of lattes and bento boxes on a mock convenience store shelf, their Japanese inventors were cheering them on at the World Robot Summit. David Pollard reports.
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Google to charge phone makers for app marketplace access in EU
Google will charge phone makers for access to its Google Play app marketplace following the EU's ruling earlier this year that it was abusing its dominant position. Julian Satterthwaite reports.
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U.S. regains crown as most competitive economy
The U.S. topped the World Economic Forum's annual global competitiveness survey for the first time since the 2007-2009 financial crisis. Fred Katayama reports.
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European shares struggle to gain traction as earnings roll in
European shares inched higher at Wednesday's open but soon lost confidence as caution again took hold after the region's equities hit a 22-month low last week. As David Pollard reports, it's in stark contrast to the strong rebound seen in the US on Tuesday.
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ASOS says potential 'huge' as annual profit jumps 28 percent
British online fashion retailer ASOS said its potential was "huge" as it narrowly beat forecasts with a 28 percent jump in 2017-18 profit and maintained guidance for its new financial year and beyond. Francis Maguire reports
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Europe stocks look cheap - but no one wants them
As European earnings season gets under way, the region's stocks look cheap compared to U.S. peers. The puzzle is that investors still don't seem to want them.
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Netflix smashes user growth numbers
Netflix flew past new subscriber numbers and far exceeded third quarter earnings forecasts in a sign the streaming video service is advancing its lead over old and yet-to-come rivals.
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Uber's $120 bln valuation
Uber could be valued as much as $120 billion when it goes public next year, according to recent proposals made by U.S. banks and reported by the Wall Street Journal. Fed Katayama reports.
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Europe's top bankers shun Saudi investment conference
The bosses of some of Europe's biggest banks and finance firms have pulled out of a high-profile investment conference in Saudi Arabia, joining a growing list of business chiefs to abandon the event amid widespread concern about the fate of a journalist.
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Profits surge at Goldman Sachs, Morgan Stanley
Quarterly profit jumped at investment banks Goldman Sachs and Morgan Stanley, helped by growth in equities trading and underwriting. Fred Katayama reports.
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A third of Japan Inc hurt by U.S.-China trade war - Reuters poll
A Reuters poll has found the number of Japanese companies affected by the U.S.-Sino trade war has jumped to a third, soaring from just 3 percent in May with firms fretting about prospects for their exports from China as well as slower Chinese demand. Michelle Hennessy reports.
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Audi fined 800 mln euros for diesel violations
German premium car brand Audi, a division of Volkswagen, said it was fined 800 million euros on Tuesday for violations tied to six- and eight-cylinder diesel engines which did not conform to anti-pollution standards. As Sonia Legg reports, news of the fine followed comments from Volkswagen's CEO that German carmakers only have a 50 percent chance of surviving as leading players in the auto industry without transforming their businesses.
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Global economy: China factory gate prices, Germany's ZEW point to trade gloom
China's factory-gate inflation cooled for a third straight month amid ebbing domestic demand, pointing to more pressure on the world's second biggest economy as it remains locked in an intensifying trade war with the US. As David Pollard reports, new data also shows Germany's economic outlook is being clouded by the dispute.
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Sears' first bankruptcy hearing
Sears' lawyers attended first bankruptcy hearing in White Plains, New York, after the retailer filed for Chapter 11 bankruptcy. Fred Katayama reports.
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