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Reuters: Business News
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Reuters: Business News
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UPDATE 1-Elon Musk unveils his first Los Angeles-area tunnel
Billionaire entrepreneur Elon Musk made a brief public appearance late on Tuesday to unveil the first tunnel completed by the underground transit venture he launched two years ago as an ambitious remedy to Los Angeles' infamously heavy traffic.
REUTERS
Indian regulator to test samples of J&J baby powder: media
India's federal drug regulator will on Wednesday seize samples of Johnson & Johnson's baby powder for testing, local media said, following a Reuters report that the company knew for decades that cancer-causing asbestos lurked in the product.
REUTERS
SoftBank telco suffers rare Japan drop on debut after record IPO
SoftBank Corp shares slumped more than 12 percent on debut, as investor appetite for Japan's biggest ever IPO was hurt by a recent service outage at the telecoms operator and worries over its exposure to Chinese telecoms gear maker Huawei.
1 h
REUTERS
Oil prices climb after tumble on hint markets stabilizing
Oil prices rebounded on Wednesday after falling for the past three sesssions with worries about oversupply and a slowing global economy keeping markets under pressure though sentiment may be shifting as falling equity markets seemed to stabilize.
1 h
REUTERS
Investors revolt against executive pay plans at tarnished Australian banks
Shareholders voted against the executive remuneration plans of two of Australia's biggest banks on Wednesday following misconduct revelations that have swept through the country's financial sector.
2 h
REUTERS
Asian business confidence wallows near three-year low on trade worries: Thomson Reuters/INSEAD
A very cautious optimism remains among Asian companies in the fourth quarter as they wait to see whether there will be any breakthrough in a trade dispute between the United States and China, a Thomson Reuters/INSEAD survey showed.
3 h
REUTERS
Micron sales, profit miss estimates as chip glut hurts prices
U.S. chipmaker Micron Technology Inc gave on Tuesday quarterly sales and profit forecasts well below Wall Street estimates, citing a market glut of memory chips as consumer and business demand for phones and computers is weakening.
3 h
REUTERS
Asia tenses for Fed call, oil slide boosts bonds
Asian share markets played second string to bonds on Wednesday as a spectacular fall in the price of oil spurred speculation the U.S. Federal Reserve might be done with tightening after its policy meeting later in the session.
4 h
REUTERS
Angry shareholders slap down National Australia Bank's executive pay plans
National Australia Bank shareholders delivered an unprecedented protest vote against the lender's executive remuneration plans on Wednesday, the latest display of investor disquiet over poor governance in the country's financial sector.
4 h
REUTERS
Oil drops over 5 percent on economic slowdown fears, supply glut
Oil prices tumbled more than 5 percent on Tuesday in heavy trade due to fears of oversupply and deteriorating demand, extending a selloff that has taken major crude benchmarks down more than 30 percent from an October peak.
5 h
REUTERS
Elon Musk's Boring Company set to unveil its first Los Angeles-area tunnel
The Boring Company, Elon Musk's underground transit venture, planned an unveiling of its first tunnel on Tuesday, two years after the billionaire entrepreneur complained about Los Angeles traffic and vowed to "just start digging" as a remedy.
5 h
REUTERS
FedEx sees global trade slowdown, says U.S. economy still 'solid'
FedEx Corp on Tuesday slashed its 2019 forecast after Europe's economy weakened and the U.S. trade row exacerbated a slowdown in China, sending shares in the package delivery company tumbling more than 6 percent after the closing bell.
5 h
REUTERS
High taxes could hasten bank moves from Britain after Brexit
Britain risks driving banks overseas if current high levels of taxation on the industry are maintained after Brexit, a bank lobby group said on Wednesday.
6 h
REUTERS
Sears to take $443 million in charges arising from store closures
Bankrupt U.S. retailer Sears Holdings Corp will take a charge of about $443 million arising from store closures, a regulatory filing showed on Tuesday.
7 h
REUTERS
S&P 500 ends flat in choppy trade
The S&P 500 ended little changed in a choppy trading session on Tuesday as the possibility of a partial government shutdown added to investors' jitters ahead of a highly anticipated Federal Reserve meeting. Fred Katayama reports.
8 h
REUTERS
Judge mulls using monitor to oversee CVS during court process
A federal judge said on Tuesday that he was considering using a court-appointed monitor to make sure CVS Health Corp refrains from fully integrating with insurer Aetna while he examines the companies' settlement with the government.
8 h
REUTERS
Stocks dip ahead of Fed news; oil prices drop
Global equity markets dipped on Tuesday as nervous investors awaited indications whether the Federal Reserve will be able to raise interest rates much further amid turbulent markets and a weakening outlook for the global economy.
9 h
REUTERS
Micron quarterly revenue rises 16 percent
Chipmaker Micron Technology Inc reported a 16 percent rise in first-quarter revenue on Tuesday, helped by higher demand for its memory chips from data centers.
9 h
REUTERS
China embarks on second round of soy buying post Trump-Xi truce
Chinese importers returned to the U.S. soy market on Tuesday for their second round of purchases since the two countries agreed to a truce in their trade war, four traders with knowledge of the deals and the U.S. Soybean Export Council said.
9 h
REUTERS
FedEx quarterly revenue rises 9.2 percent
U.S. package delivery company FedEx Corp reported a 9.2 percent rise in quarterly revenue on Tuesday, driven by higher shipment volumes.
9 h
REUTERS
Citi reorganizes prime brokerage unit
Citigroup Inc is shuffling its prime brokerage business, according to an internal memo seen by Reuters, amid reports that the unit could lose millions on a bad loan to an Asian hedge fund.
9 h
REUTERS
Wall St. falls on government shutdown fears, oil swoon
U.S. stocks gave up their gains on Tuesday as energy stocks were weighed by a steep drop in oil prices and as the possibility of a partial government shutdown loomed.
REUTERS
Treasury's Mnuchin says expects January trade talks with China: Bloomberg
The United States and China are planning to hold meetings in January to "document an agreement" on trade, U.S. Treasury Secretary Steven Mnuchin told Bloomberg in an interview on Tuesday.
REUTERS
U.S. agency to speed reviews of automaker self-driving petitions
The U.S. auto safety regulator said on Tuesday it is speeding up the process for reviewing whether automakers can deploy self-driving vehicles without devices such as brakes and steering wheels.
REUTERS
Glencore's Katanga pays $22 million to settle Canada regulator probe
Glencore-controlled Katanga Mining said on Tuesday it had agreed to pay more than $22 million to settle Canadian allegations of inadequate historical disclosures of its finances and activities in the Democratic Republic of Congo.
REUTERS
Wall St. propped up by tech stocks, financials rise ahead of Fed
U.S. stocks rebounded on Tuesday after losing about 2 percent in each of the past two days, helped by gains in the technology sector, and a rebound in some bellwether stocks such as Boeing and J&J.
REUTERS
German auto supplier to plead guilty, pay $35 million fine in VW emissions case
German auto supplier IAV Gmbh agreed to plead guilty and pay a $35 million fine for conspiring to assist Volkswagen AG in its effort to evade U.S. diesel emissions standards, the U.S. Justice Department said on Tuesday.
REUTERS
GM cutting 50 jobs at U.S. battery plant tied to Chevy Volt
General Motors Co said on Tuesday it plans to cut 50 jobs at a suburban Detroit lithium-ion battery assembly plant after the largest U.S. automaker announced last month it will end production of its plug-in hybrid Chevrolet Volt in 2019.
REUTERS
Facebook's Sandberg cites need to do more after reports of Russia meddling
Facebook Inc's Chief Operating Officer Sheryl Sandberg said on Tuesday the company needs to step up its efforts to curb misinformation after research revealed that Russia-backed organizations targeted African-Americans, who favored Hillary Clinton, to suppress voter turnout during the 2016 election.
REUTERS
Oil prices tumble
Oil prices fell 4 percent on Tuesday after reports of swelling inventories and forecasts of record U.S. and Russian output combined with a sharp sell-off in stock markets. Fred Katayama reports.
REUTERS
US STOCKS SNAPSHOT-Wall St opens higher on tech boost; Fed in focus
U.S. stocks opened higher on Tuesday boosted by technology shares, as investors wait for clues on the Federal Reserve's path for future rate hikes.
REUTERS
Volkswagen may have to step up electric car plans to meet EU CO2 targets
Volkswagen may have to step up its plans for mass production of electric vehicles in order to meet tougher-than-expected European targets to cut greenhouse emissions from cars, its chief executive said on Tuesday.
REUTERS
Futures climb heading into Fed meeting
U.S. stock index futures climbed on Tuesday, following a rocky start to the week, as investors focus on a two-day meeting where the Federal Reserve is expected to raise interest rates for the fourth time this year and signal the path of future rate hikes.
REUTERS
Growth fears grip world markets ahead of Fed meeting
World stock markets, the U.S. dollar and oil prices tumbled on Tuesday as fears about a slowing global economy gripped investors, just as the U.S. Federal Reserve looks set this week to deliver its fourth interest rate hike of the year.
REUTERS
Kroger starts use of unmanned vehicles for delivery in Arizona
U.S. supermarket chain Kroger Co said on Tuesday it has started using unmanned autonomous vehicles to deliver groceries Scottsdale, Arizona in partnership with Silicon Valley startup Nuro.
REUTERS
Huawei to spend $2 billion over five years in cybersecurity push
Huawei Technologies [HWT.UL] on Tuesday said it would spend $2 billion over the next 5 years to focus on cybersecurity by adding more people and upgrading lab facilities, as it battles global concerns about risks associated with its network gear.The typically secretive Chinese technology giant made the comments at one of its most indepth press conferences at its Dongguan offices, after welcoming about two dozen international journalists into its new campus in the southern C
REUTERS
Indian regulator says Reuters report on J&J baby powder 'under consideration'
India's federal drug regulator said on Tuesday a Reuters report that Johnson & Johnson knew for decades that cancer-causing asbestos lurked in its baby powder was "under consideration".
REUTERS
Malaysia says Goldman Sachs failed to disclose key facts in 1MDB bond sales
Goldman Sachs Group Inc made untrue statements and omitted key facts in offering circulars for the bonds it sold for Malaysian state fund 1MDB, the Malaysian government said in criminal charges against the U.S. bank.
REUTERS
Cash-strapped South African Airways expands Emirates code sharing
South African Airways (SAA) said on Tuesday that it had signed a deal with Emirates [EMIRA.UL] to expand an existing codeshare agreement, in a rare bright spot for the cash-strapped airline.
REUTERS
Italy's UniCredit settles dispute with Caius
UniCredit and British hedge fund Caius have settled a dispute over complex financial instruments which count toward Italy's biggest bank's capital, the two companies said.
REUTERS
Asia shares sink as global growth worries deepen
Asian share markets sank on Tuesday as heightened worries about a slowing global economy sent Wall Street stocks skidding to their lowest levels in more than a year.
REUTERS
South Korea to provide $3 billion in financial support for troubled auto suppliers
South Korea unveiled a policy package to support its embattled car parts makers industry that includes providing financial support worth over 3.5 trillion won ($3.10 billion) and encouraging the use of electric cars.
1 d
REUTERS
UPDATE 1-Qualcomm says Apple violating Chinese court order, despite new software
Qualcomm Inc said it believes Apple Inc remains in violation of a Chinese court's orders to stop selling iPhones despite a software update that Apple pushed on Monday.
1 d
REUTERS
UPDATE 1-J&J moves to limit impact of Reuters report on asbestos in Baby Powder
Johnson & Johnson on Monday scrambled to contain fallout from a Reuters report that the healthcare conglomerate knew for decades that cancer-causing asbestos lurked in its Baby Powder, taking out full-page newspaper ads defending its product and practices, and readying its chief executive for his first television interview since investors erased tens of billions of dollars from the company’s market value.
1 d
REUTERS
Oracle sees strong third quarter on cloud strength, share rise
Oracle Corp on Monday forecast current-quarter profit above estimates after growth in its cloud services and license support unit helped the business software maker surpass Wall Street expectations for the second quarter.
1 d
REUTERS
No Uber or Airbnb in South Korea: Red tape, risk-aversion hobble start-ups
When Choi Ba-da pitched his car-sharing firm Luxi to Hyundai Motor officials in 2017, he told them there would be no future for South Korea's top automaker if it failed to embrace emerging technologies.
1 d
REUTERS
Oil falls, U.S. crude dips below $50 on oversupply fears
Oil prices fell more than 2 percent on Monday, with U.S. crude tumbling below $50 a barrel, on signs of oversupply in the United States and as investor concern over global economic growth and fuel demand grows.
1 d
REUTERS
Renault-Nissan board meets amid deepening leadership crisis
Renault and Nissan executives will gather on Tuesday for a board meeting of their car making alliance, two sources said, amid tensions over the future of the partnership in the wake of Chairman Carlos Ghosn's arrest last month.
1 d
REUTERS