Brexit EU hub: Morgan Stanley & Citigroup choosing Frankfurt
2017-07-19 16:48:26 UTC
FRANKFURT/LONDON (Reuters) - Morgan Stanley has chosen Frankfurt to be the new base for its European Union operations as Britain prepares to leave the bloc, according to a source familiar with the matter, becoming the latest U.S. bank to pick the German city.
International banks are planning t...
US auto industry has been bracing for a downturn
2017-07-03 16:51:23 UTC
The U.S. auto industry has been bracing for a downturn after hitting a record 17.55 million new vehicles sold in 2016. A glut of nearly new used vehicles poses competition for new vehicle sales and automakers have relied increasingly on high consumer discounts and loosened lending terms.
Tesla Model 3 passed all regulatory requirements for production
2017-07-03 06:23:42 UTC
Tesla Inc's high-volume Model 3 sedan passed all regulatory requirements for production two weeks ahead of schedule, Chief Executive Elon Musk tweeted on Sunday night.
Musk said in May that Tesla was on track to begin production of the $35,000 Model 3 in July.
Tesla expects to produce over ...
Shortlisted bidders in race to buy $10b valued Global Logistic Properties Ltd
2017-07-03 05:50:18 UTC
SINGAPORE — Global Logistic Properties Ltd said on Monday it had received "firm proposals" from shortlisted bidders, days after sources told Reuters that suitors had narrowed to a management-backed Chinese consortium and a group led by Warburg Pincus.
The $10 billion-valued firm is Asia's bigg...
Sweden’s Museum of Failure displays flops
2017-06-08 04:04:15 UTC
HELSINGBORG, SWEDEN – Green Heinz ketchup? Fat-free Pringles? Colgate frozen lasagna? You don’t need to be an expert to know these products weren’t successful.
Which is why these creations, with dozens of others, feature in the new Museum of Failure, a wacky parade of rejected products from ye...
Facebook focuses on Vox, BuzzFeed and others for video service
2017-05-24 20:47:43 UTC
NEW YORK — Facebook has signed deals with millennial-focused news and entertainment creators Vox Media, BuzzFeed, ATTN, Group Nine Media and others to make shows for its upcoming video service, which will feature long and short-form content with ad breaks, according to several sources familiar wi...
General Electric: We're very supportive of NAFTA
2017-05-12 19:35:46 UTC
MONTERREY, MEXICO — General Electric Co's chief executive on Friday praised Mexico as a big part of its future growth and said the company is "very supportive" of the North American Free Trade Agreement (NAFTA) that U.S. far-right nationalist President Donald Trump has threatened to ditch.
Warning directed at Trump: Mexico outlines plans for alternatives on trade
2017-05-12 18:44:03 UTC
In the warning directed at the U.S. far-right nationalist President Donald Trump, Mexican Economy Minister Ildefonso Guajardo, outlines plans for alternatives on trade.
He sent a stark message to Trump, saying an upcoming visit by Mexican officials to China showed Latin America's second larges...
German's Aldi is going to beat the largest US retailer at its own game
2017-05-11 06:57:56 UTC
German grocery chain Aldi is going to beat the largest US retailer at its own game: low prices.
Already with 1,600 U.S. stores, Aldi’s internal studies show its prices are 21 percent lower than its lowest-priced rivals, including Wal-Mart Stores Inc, according to Chief Executive Jason Hart. He...
America's Bad Health Care System Is Getting Worse
2017-05-05 01:42:08 UTC
WASHINGTON — GOP House majority approved a bill to repeal Obamacare, which enabled 20 million more Americans to get health insurance.
Democrats say it would make insurance unaffordable for those who need it most and leave millions more uninsured. They accuse Republicans of seeking tax cuts fo...
Trump's Tax Plan With Big Cuts For Businesses Like His
2017-04-26 18:33:19 UTC
WASHINGTON — Trump proposed slashing the U.S. tax rate on corporate and pass-through business profits to 15 percent from 35 percent or more, while also offering tax cuts to average Americans in a rough outline of his tax policy goals.
A one-page summary of his proposals, released at a White Ho...
France, Airbus and Leonardo, Italy major deal with Iran Air
2017-04-10 07:09:56 UTC
IranAir has signed a contract to buy 20 planes from turboprop maker ATR, Iranian deputy transport minister was quoted as saying on Monday.
The deal comes after Iran, which had not directly purchased a Western-built plane in nearly 40 years, signed contracts with Europe's Airbus and U.S. rival ...
German service sector growth to a 15-month high
2017-04-05 09:20:08 UTC
BERLIN, April 5 - Growth in Germany's services sector accelerated further in March, a survey showed on Wednesday, suggesting Europe's largest economy will post healthy growth in the first quarter.
Markit's final services index rose to a 15-month high of 55.6 from 54.4 in February, helped by ne...
China Eyes Plant in Mexico as a New Capital of the Automotive Industries - Fact Check: Trump's Misleading Claims
2017-04-05 07:31:58 UTC
China Eyes Plant in Mexico as a New Capital of the Automotive Industries - Fact Check: Trump's Misleading Claims.
MEXICO CITY/BEIJING — Trump has criticized carmakers including General Motors for shifting production south of the border. Under threats of punitive import duties, Ford Motor Co ...
Michael Flynn Failed To Disclose Payments From Russia
2017-04-02 01:52:51 UTC
Washington — Michael Flynn, Trump's former national security adviser, failed to disclose payments from a Russian television network and a second firm linked to Russia in a February financial disclosure form, according to documents released by the White House on Saturday.
In a financial disclos...
UK and Gulf Arab states seeking free trade deal
2017-03-26 16:55:50 UTC
By Tom Finn |
LONDON/ DOHA — Gulf Arab states are pressing for an early deal on free trade with Britain to secure preferential arrangements after Brexit, and could have a draft agreement ready within months, Gulf officials say.
Britain cannot formally sign trade agreements while it remains...
Unexpected Increase Of Americans Filing For Unemployment Benefits
2017-03-23 17:43:18 UTC
By Lucia Mutikani |
WASHINGTON — An unexpected increase in the number of Americans filing for unemployment benefits last week, data on Thursday showed. Still, the labor market continues to tighten, which together with the strength in housing, should underpin economic growth.
New U.S. sin...
Mexican companies should not participate in Trump's border wall
2017-03-22 05:20:11 UTC
By Anthony Esposito |
MEXICO CITY — Mexico's government on Tuesday warned Mexican companies that it would not be in their best "interests" to participate in the construction of U.S. President Donald Trump's border wall, though there will be no legal restrictions or sanctions to stop them if t...
BREXIT: Goldman Sachs moving hundreds of London jobs to EU
2017-03-21 15:34:42 UTC
By Anjuli Davies | LONDON
Goldman Sachs will begin moving hundreds of people out of London before any Brexit deal is struck as part of its contingency plans for Britain leaving the European Union, the Wall Street firm's Europe CEO said.
"We are going to start to execute on those contingency p...
Agriculture leaders slam Trump's budget proposal
2017-03-16 22:49:57 UTC
By Karl Plume and P.J. Huffstutter |
CHICAGO — Agriculture leaders including lawmakers from President Donald Trump's Republican Party on Thursday criticized his planned 21 percent cut to discretionary spending at the U.S. Department of Agriculture (USDA), saying it could take a toll on the ...
Euronet Worldwide launched a $1 billion bid for rival MoneyGram
2017-03-14 22:19:19 UTC
By Sruthi Shankar and Anna Irrera |
U.S. electronic payments company Euronet Worldwide Inc (EEFT.O) launched a $1 billion bid for rival MoneyGram International Inc (MGI.O) on Tuesday, arguing that its all-American deal would face less regulatory scrutiny than a lower bid by Ant Financial Ser...
Lightspeed is set to make its public market debut
2017-03-01 20:09:45 UTC
By Heather Somerville |
SAN FRANCISCO — Lightspeed Venture Partners was launched in 1999 by four partners who were experts in enterprise software and early internet companies, making only the occasional investment into consumer technology companies.
But then came the rise of social media. ...
Ahead of Brexit, all eyes on Frankfurt
2017-03-01 09:45:36 UTC
By Huw Jones |
LONDON — The European Union could be left with no exchange big enough to compete with U.S. rivals and no trading link into Britain if it allows the London Stock Exchange (LSE.L) and Deutsche Boerse (DB1Gn.DE) merger to die.
Although the Anglo-German tie-up is awaiting formal...
The U.S. President focuses on own family business
2017-02-08 21:01:27 UTC
U.S. President Donald Trump on Wednesday attacked Nordstrom Inc (JWN.N) for what he said was its unfair treatment of his daughter Ivanka after its decision to not purchase her clothing line for this upcoming season.
Shares of the retailer fell 0.7 percent after the president's criticism but re...
Putin is the cause of the U.S. election hack
2016-12-16 04:01:09 UTC
(Reuters) - Russian President Vladimir Putin supervised his intelligence agencies' hacking of the U.S. presidential election and turned it from a general attempt to discredit American democracy to an effort to help Donald Trump, three U.S. officials said on Thursday.
U.S. intelligence agencies...