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Reuters: Business News
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Huawei's U.S. research arm slashes jobs as trade ban bites
China's Huawei Technologies laid off more than two-thirds of the 850-strong workforce at its Futurewei Technologies research arm in the United States, after being blacklisted by the government.
REUTERS
Oil prices ease as traders weigh Middle East tensions, demand
Oil prices inched lower on Tuesday as the International Energy Agency (IEA) said it would act quickly if needed to keep the market supplied amid tensions in the Middle East and traders eyed a weaker demand outlook.
REUTERS
U.S. farmers look past trade fears to cash in on China's hog crisis
It might seem an unlikely time for U.S. farmers to look to China for more business but the devastating impact of African swine fever on the Chinese pork industry is trumping concerns about trade wars and tariffs.
REUTERS
Trump agrees to prompt responses to license requests for Huawei sales
President Donald Trump agreed at a meeting with the heads of top technology companies like Google on Monday to make "timely" decisions on requests by U.S. companies to sell to blacklisted Huawei Technologies Co Ltd, the White House said.
REUTERS
UPDATE 1-LG Display to invest $2.6 bln in OLED panel plant in S.Korea
LG Display said on Tuesday that it would invest 3 trillion won ($2.6 billion) in its organic light-emitting diode (OLED) panels production line in South Korea.
REUTERS
Trump meets with tech CEOs on Huawei
U.S. President Donald Trump met on Monday with the chief executives of seven technology companies and he agreed with their request for timely licensing decisions from the Commerce Department on blacklisted Chinese firm Huawei Technologies, the White House said.
REUTERS
Huawei laying off majority of U.S. unit - source
Futurewei Technologies Inc, the U.S. research arm of China’s Huawei Technologies Co Ltd, began laying off workers on Monday, according to employees including one who spoke to Reuters as he left the company’s Silicon Valley campus.
REUTERS
UPDATE 4-Fitch, Moody's cut Boeing's debt outlook to 'negative' on 737 MAX problems
Fitch Ratings and Moody's lowered their outlooks for Boeing Co to "negative" from "stable" on Monday, citing delays in its 737 MAX jets' return to service.
REUTERS
Philadelphia Energy Solutions shutting down remaining refinery units: source
Philadelphia Energy Solutions' 335,000 barrel-per-day (bpd) refinery began permanently shutting its remaining refinery units on Monday, said a source familiar with plant operations. The shutdown will finish in a few days.
REUTERS
Shipping companies sue Philadelphia Energy Solutions for $600,000 in unpaid bills
Three Greek shipping companies sued U.S. refiner Philadelphia Energy Solutions Inc (PES) for about $600,000, claiming the company did not pay them for fees incurred by crude oil tankers chartered earlier this year, court documents showed.
REUTERS
Ford to upgrade Chicago plant for SUVs, hire 450 workers
Ford Motor Co said on Monday it would invest $50 million upgrading a Chicago facility to partially assemble hybrid electric SUVs and vehicles for police use, creating 450 jobs.
REUTERS
UPDATE 6-Halliburton profit exceeds analysts estimates as costs cut; shares rise
Halliburton Co on Monday reported a second-quarter profit that beat analysts' estimates as its largest oil-well services unit exceeded expectations, sending shares to their biggest one-day gain in nearly three years.
REUTERS
Apple in advanced talks to buy Intel's smartphone-modem chip business - WSJ
Apple Inc is in advanced talks to buy chipmaker Intel Corp's smartphone-modem chip business, the Wall Street Journal reported on Monday, citing people familiar with the matter.
REUTERS
Bunge and BP team up in Brazil bioenergy venture, create No. 3 sugarcane processor
U.S. commodities trader Bunge Ltd and British energy company BP Plc said on Monday they will merge their Brazilian sugar and ethanol operations to create the world's third-largest sugarcane processor.
REUTERS
Oil prices strengthen more than 1% on Iran risk
Oil prices rose more than 1% on Monday, as investors worried about possible supply disruptions in the energy-rich Middle East after Iran's seizure of a British tanker last week.
REUTERS
UPDATE 1-Whirlpool earnings beat estimates as higher prices offset tariff impact
Whirlpool Corp on Monday reported better-than-expected quarterly earnings and lifted its full-year profit forecast, as the appliance maker raised prices on its washing machines and kitchen appliances to offset higher production costs.
REUTERS
Wall Street gains on rate cut hopes
The S&P 500 ended higher on Monday, supported by expectations of lower interest rates, while investors awaited quarterly earnings from marquee companies Facebook, Alphabet and Amazon this week. Fred Katayama reports.
REUTERS
GLOBAL MARKETS-Tech leads U.S. stocks higher; oil gains
U.S. stocks gained ground on Monday at the onset of a heavy earnings week, while European shares inched higher as investors took heart from potential progress in U.S.-China trade talks and increasing geopolitical tensions sent oil prices climbing.
REUTERS
Trump expected to attend White House tech meeting where Huawei will be discussed: sources
U.S. President Donald Trump is expected to drop in on a Monday meeting of top technology companies, including the chief executives of Intel Corp and Broadcom Inc, held to discuss blacklisted Huawei Technologies Co Ltd [HWT.UL] and other topics, two people briefed on the matter said.
REUTERS
Blackstone weighs Cheniere Energy Partners stake sale: Bloomberg
Blackstone Group Inc is considering selling its stake in LNG producer Cheniere Energy Inc's limited partnership seven years after investing about $1.5 billion, Bloomberg reported on Monday, citing people familiar with the matter.
REUTERS
Lloyds and Standard Life Aberdeen to settle 100 billion sterling funds row: Sky News
Lloyds Banking‎ Group PLC will pay about 140 million pounds ($174.72 million) to Standard Life Aberdeen PLC (SLA) to settle a legal fight over the future of a 100 billion pound asset management mandate, Sky news reported on Monday.
REUTERS
Huawei executive says 'concerned' about Canadians held in China
The Canadian unit of China's Huawei Technologies Co Ltd sought to distance itself from the actions of the Chinese government on Monday, with a top local executive saying the company is worried about two Canadian men being held by Beijing.
REUTERS
Huawei's U.S. research arm laying off workers
The U.S.-based research arm of China's Huawei Technologies Co Ltd - Futurewei Technologies Inc - announced worker layoffs on Monday, according to two Futurewei employees.
REUTERS
Wall Street edges higher ahead of major earnings, central bank meetings
U.S. stocks eked out small gains on Monday as investors were wary of making big bets ahead of key central bank meetings on interest rates and waited for earnings from marquee companies including Facebook and Amazon due later this week.
REUTERS
Trump: 'We will have to find out' about Huawei's relationship with North Korea
Asked about a media report that said Huawei Technologies Co Ltd [HWT.UL] had secretly built and maintained North Korea's commercial wireless network, U.S. President Donald Trump said on Monday, "We will have to find out."
REUTERS
Trump is expected to drop in on White House tech meeting with Broadcom, Intel CEOs -sources
Chief executives from chipmakers Intel and Broadcom will attend a Monday meeting at the White House to discuss Huawei's blacklisting and other topics, and President Donald Trump is expected to drop in even though the meeting was not on his official schedule, according to two people briefed on the matter.
REUTERS
Microsoft invests $1 bln in OpenAI
Microsoft said it's investing $1 billion in San Francisco-based OpenAI to develop artificial intelligence supercomputing technologies on its cloud computing service. Fred Katayama reports.
REUTERS
UPDATE 3-Fitch cuts Boeing's debt outlook to "negative" on 737 MAX problems
Fitch Ratings lowered its debt outlook for Boeing Co to "negative" from "stable" on Monday, citing regulatory uncertainty around the timing of its 737 MAX jets' return to service.
REUTERS
UPDATE 4-Halliburton profit beats as company cuts cost; shares rise
Halliburton Co on Monday beat analysts' estimates for second-quarter profit as its largest oil-well services unit exceeded expectations, putting the company's shares on track for the biggest one-day gain in nearly three years.
REUTERS