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Volkswagen to invest $27 billion in core brand until 2022

FRANKFURT (Reuters) - Volkswagen will invest 22.8 billion euros ($26.9 billion) in its main car brand over the next five years, it said on Saturday, a day after it announced a spending program aimed at bolstering its position as a maker of electric cars.

Subways nytimes.com

System Failure: How Politics and Bad Decisions Starved New York’s Subways

Disruptions and delays have roiled the system this year. But the crisis was long in the making, fueled by a litany of errors, a Times investigation shows.

Politics and Government nytimes.com

Alabama Thought It Had Seen Enough Scandal. Then Came Roy Moore.

The allegations against the Senate candidate represent just the latest political scandal in a state that has known plenty of them.

businessNews reuters.com

Verizon close to announcing digital streaming deal with NFL: Bloomberg

(Reuters) - Verizon Communications Inc, no. 1 U.S. wireless carrier, is close to a new deal with the National Football League for digital streaming rights, Bloomberg reported, citing people familiar with the matter.

businessNews reuters.com

Business jets risk U.S. pilot shortage on competition from airlines

MONTREAL (Reuters) - Business jet operators, already offering double digit raises to attract pilots, could face a labor shortfall in North America as they compete with U.S. airlines for talent, executives and analysts said.

businessNews reuters.com

Despite Amazon, brick stores are not dead yet

NEW YORK (Reuters) - Just in time for the Black Friday kick-off to holiday season shopping, stock market investors have been handed tools to bet on the decline of brick-and-mortar retail.

healthNews reuters.com

Radiologists want patients to get test results faster

(Reuters Health) - Patients these days expect to get imaging test results more promptly than they did in the past – and radiologists are moving toward making that happen, researchers say.

businessNews reuters.com

Buyers circle suddenly attractive U.S. media companies

WASHINGTON (Reuters) - All of a sudden, it seems, everybody wants to own a U.S. media company.

businessNews reuters.com

Wall Street pulls back at week's end with tax changes mulled

NEW YORK (Reuters) - Wall Street ended the week on a sour note on Friday, with major indexes slipping modestly as investors weighed the fate of the Republicans' tax overhaul plan.

businessNews reuters.com

U.S. rejects Ford petition to delay recall of three million vehicles

WASHINGTON (Reuters) - The U.S. National Highway Traffic Safety Administration said on Friday it was rejecting a petition by Ford Motor Co to delay recall of about 3 million vehicles with potentially defective air bag inflators to conduct additional testing.

businessNews reuters.com

Wall Street set to end week on whimper as tax changes mulled

NEW YORK (Reuters) - Wall Street was set to end the week on a muted note on Friday, with major indexes slipping modestly, as investors weighed the fate of the Republicans' tax cut plan.

businessNews reuters.com

Wall Street slips on worries over tax plan's progress

(Reuters) - Wall Street indexes were under pressure on Friday as investors were skeptical about the Republicans' efforts to pass the tax bill.

businessNews reuters.com

Volkswagen accelerates push into electric cars with $40 billion spending plan

WOLFSBURG/HAMBURG (Reuters) - Volkswagen approved a 34 billion euro ($40 bln) spending plan on Friday that accelerates its efforts to become a global leader in electric cars.

businessNews reuters.com

Tesla's unfettered ambition will drain finances: analysts

(Reuters) - Tesla Inc shares rose on Friday as analysts questioned how soon Chief Executive Elon Musk will have to ask creditors and shareholders for more capital to fund development of an electric semi truck, a new roadster and accelerated production of a high-volume electric sedan.

businessNews reuters.com

Nearly 2,000 Siemens employees protest against job cuts

BERLIN (Reuters) - Siemens employees protested in various German cities on Friday against the company's proposal to cut 6,900 jobs, which a senior Siemens official said could be revised after negotiations with the union.

businessNews reuters.com

Reuters poll: Major U.S. tax cuts not likely this year - economists

BENGALURU (Reuters) - U.S. Republicans are not expected to push major tax cuts through Congress this year, according to a majority of economists in a Reuters poll, who in any case were skeptical that the legislation would provide a significant boost to the economy.

businessNews reuters.com

Apple pushes launch of HomePod smart speaker to early 2018

(Reuters) - Apple Inc has pushed the launch of its HomePod smart speaker to early next year from December, the company said on Friday.

businessNews reuters.com

Wall Street slips on doubts about tax plan's progress

(Reuters) - Wall Street's main indexes were on track to post small weekly losses on Friday as investors were skeptical about the Republicans' efforts to pass the tax bill.

businessNews reuters.com

Fox shares rise on signs of more takeover interest

(Reuters) - Twenty-First Century Fox Inc shares were up 3 percent in trading on Friday after sources said both Comcast Corp and Verizon Communications Inc were interested in buying parts of its studio and TV operations.

Pizza nytimes.com

A Good Appetite: Pizza for Breakfast, but Not What You Think

Topped with bacon and eggs, it’s perfect for breakfast or brunch, and even goes well with coffee.

Subways nytimes.com

About New York: In the Best of Times, the Worst of Rides

New York is booming with jobs and new residents, yet the number of people taking the subway has fallen, as a system burdened by debt and bad management fails.

businessNews reuters.com

Exclusive: Toshiba set to OK $5 billion injection on Monday to stay listed - sources

TOKYO (Reuters) - Toshiba Corp will decide on Monday to raise some $5 billion from overseas investors, allowing the troubled conglomerate remain a publicly traded company even if the sale of a key business is delayed, two people with direct knowledge of the process said.

businessNews reuters.com

Broadcom closes $5.5 billion Brocade deal

(Reuters) - Broadcom Ltd said on Friday it closed its acquisition of network gear maker Brocade Communications Systems Inc, giving it a larger share of the data center products market.

businessNews reuters.com

Wall St. slips as tech, financial stocks weigh

(Reuters) - Wall Street's main indexes drifted lower on Friday, weighed down by losses in financial and technology stocks.

businessNews reuters.com

GE shares rise after CEO Flannery buys stock

(Reuters) - Shares of General Electric Co opened higher on Friday after Chief Executive John Flannery disclosed that he bought 60,000 shares of the industrial conglomerate's stock.

businessNews reuters.com

S&P, Dow open lower as health, tech stocks weigh

(Reuters) - The Dow and the S&P 500 opened lower on Friday, led by losses in healthcare and technology stocks.

businessNews reuters.com

Sports retail stocks jump after upbeat earnings

(Reuters) - Shares of sports retailers soared on better-than-expected earnings from Foot Locker Inc , Shoe Carnival Inc and Hibbett Sports Inc as the companies sold more premium shoes and cut stocks of low-margin ones.

businessNews reuters.com

Broadcom completes Brocade acquisition

(Reuters) - Broadcom Ltd said on Friday it completed its $5.5 billion acquisition of network gear maker Brocade Communications Systems Inc.

businessNews reuters.com

Sports retail stocks jump after upbeat reports

(Reuters) - Shares of sports retailers soared on Friday after Foot Locker Inc , Shoe Carnival Inc and Hibbett Sports Inc reported better-than-expected quarterly profits.

businessNews reuters.com

Fox shares jump on signs of more takeover interest

(Reuters) - Twenty-First Century Fox Inc shares jumped 8 percent in premarket trading on Friday after sources said both Comcast Corp and Verizon Communications Inc were also interested in buying parts of its studio and TV operations.

businessNews reuters.com

Volkswagen to spend over $40 billion on electric and self-driving cars

WOLFSBURG, Germany (Reuters) - Volkswagen's leaders on Friday approved a five-year spending plan that aims to further the German automaker's goal of transforming itself into a leading force in electric cars.

businessNews reuters.com

Tesla's unfettered ambition to strain finances but investors unfazed

(Reuters) - Investors shrugged off any concern over Tesla Inc over-stretching its production and financial resources with the unveiling of new futuristic semi-trucks and a pricey sports car, pushing its shares up almost 4 percent on Friday.

businessNews reuters.com

U.S. probes 415,000 Volkswagen vehicles for air bag problems

(Reuters) - The U.S. National Highway Traffic Safety Administration said Friday it is opening an investigation into potential air bag failure in 415,000 Volkswagen vehicles after the German automaker issued a recall for the same issue in 2015.

businessNews reuters.com

Exclusive: Germany's top banks step up efforts to offload toxic shipping debt

LONDON/FRANKFURT (Reuters) - Top national lenders Deutsche Bank <DBK Gn.DE> and Commerzbank are stepping up efforts to offload distressed shipping loans, finance sources said, as the German banking system grapples with $100 billion in toxic debt from the sector.

businessNews reuters.com

Fork talk lifts bitcoin to all-time high near $8,000

LONDON (Reuters) - Bitcoin hit an all-time high just below $8,000 on Friday, on talk that a software upgrade whose suspension sent the cryptocurrency into a tailspin at the end of last week was, after all, going ahead within hours.

businessNews reuters.com

Wireless carriers on mute as Supreme Court hears big privacy case

WASHINGTON (Reuters) - The U.S. Supreme Court is set to consider a major cellphone privacy case later this month, but leading players in the wireless industry that is at the center of the closely watched dispute are keeping their distance.

businessNews reuters.com

Analysts flee Wall Street with gallows humor as research changes loom

(Reuters) - Having covered financial stocks at big and small banks for more than two decades, David Hilder was accustomed to the ebb and flow of Wall Street job cuts and hiring sprees.

New York City nytimes.com

New York Today: New York Today: Readers Try a Week of Meditation

Friday: A group of New Yorkers share their meditation experiences, weekend events, and what area is considered upstate?

businessNews reuters.com

World stocks claw back losses but set for second weekly fall

LONDON (Reuters) - World stocks continued to claw back losses on Friday after spending much of the week in the red, boosted by signs of progress in U.S. tax reform and strong corporate results.

businessNews reuters.com

Nissan cites staff shortage for improper tests, plans more inspectors

YOKOHAMA (Reuters) - Nissan Motor Co Ltd on Friday blamed a lack of trained staff for improper final inspections at its car plants in Japan for over 20 years, and said it would increase the number of inspectors as part of a plan to improve compliance.

businessNews reuters.com

Ford to invest over 750 million euros in Valencia plant

MADRID (Reuters) - U.S. car manufacturer Ford announced on Friday it would invest more than 750 million euros ($885 million) in its Spanish plant in the eastern region of Valencia to produce the new model of its Kuga SUV.

businessNews reuters.com

Volkswagen board discusses 70 billion euro spending plan: source

FRANKFURT (Reuters) - Volkswagen's supervisory board is discussing a five-year spending plan totaling more than 70 billion euros ($82.5 billion) to further transform the group into a leader in electric cars, a person familiar with the talks told Reuters.

businessNews reuters.com

China faces waste hangover after Singles' Day buying binge

SHANGHAI (Reuters) - China's Singles' Day online discount sales bonanza on Saturday saw bargain-hungry buyers spend over $38 billion, flooding the postal and courier businesses with around 331 million packages - and leaving an estimated 160,000 tonnes of packaging waste.

businessNews reuters.com

Nissan blames staff shortage for improper tests, plans more inspectors

YOKOHAMA (Reuters) - Nissan Motor Co Ltd on Friday blamed a staff shortage for improper final inspections at its car plants in Japan for over 20 years, and said it would increase the number of trained staff as part of a plan to improve compliance.

businessNews reuters.com

Japanese regulators raid Airbnb over suspected antitrust practices

TOKYO (Reuters) - Japanese fair trade regulators raided last month the offices of Airbnb Inc over suspected violations of antitrust laws, the home rental site said on Friday, denying any wrongdoing.

businessNews reuters.com

Asian shares gain, Mueller report hits dollar

TOKYO (Reuters) - Asian shares clawed back most of their weekly loss after rising firmly on Friday as strong Wall Street earnings and a step forward on U.S. tax reform brightened the mood, though many hurdles remain to secure passage of a tax cut deal.

businessNews reuters.com

GM's Cadillac expects China sales to jump 60 percent in 2017

GUANGZHOU/BEIJING (Reuters) - General Motors' Cadillac luxury brand expects its China sales to surge 60 percent in 2017, faster than it had projected at the start of the year, on strong demand from younger buyers, the brand's country chief said.

businessNews reuters.com

Asian shares up on U.S. tax, earnings hopes; Mueller report hits dollar

TOKYO (Reuters) - Asian shares rose firmly on Friday as strong U.S. earnings and a step forward in Congress on U.S. tax reform brightened the mood, even though investors noted that many hurdles remain to passage of a deal on tax cuts.

businessNews reuters.com

New $200,000 Tesla Roadster speeds in front of electric big-rig truck

HAWTHORNE, Calif. (Reuters) - Tesla Inc upstaged its own debut of an electric heavy duty truck when a red Roadster pulled out of the big rig's trailer and Chief Executive Elon Musk said the new $200,000 sports car would be the fastest production car ever.

businessNews reuters.com

Daimler to invest $755 million in China for electric car, battery production: executive

GUANGZHOU/BEIJING (Reuters) - Germany's Daimler AG plans to invest 5 billion yuan ($755 million) in China for factory capacity to manufacture electric cars and the batteries that power them, part of an effort to help its Mercedes-Benz and Smart brands comply with the country's green car production and sales quotas.

businessNews reuters.com

Tesla unveils electric big-rig truck, sporty Roadster

HAWTHORNE, Calif. (Reuters) - Tesla Inc on Thursday unveiled a prototype electric big-rig truck that it will start producing in 2019, throwing itself into a new market even as it struggles to roll out an affordable sedan on which the company's future depends.

businessNews reuters.com

Tesla unveils electric big-rig truck in midst of Model 3 factory 'hell'

HAWTHORNE, Calif. (Reuters) - Tesla Inc on Thursday unveiled a prototype electric big-rig truck, throwing itself into a new market even as it struggles to roll out an affordable sedan on which the company's future depends.

healthNews reuters.com

Japan health ministry to water down proposal on restaurant smoking: media

TOKYO (Reuters) - Japan's health ministry is likely to drastically water down a proposal restricting smoking in restaurants, media said on Friday, a move that risks Tokyo becoming one of the unhealthiest hosts of the Olympic Games hosts in years.

businessNews reuters.com

Nissan to brief on improper inspection issue at 0730 GMT

TOKYO (Reuters) - Nissan Motor Co Ltd said it would hold a news conference on Friday to provide an update on the investigation into improper final inspection procedures - an issue that has led to the recall of 1.2 million vehicles in Japan.

businessNews reuters.com

Asian shares up on US tax, earnings hopes; Mueller report hits dollar

TOKYO (Reuters) - Asian shares rose firmly on Friday as strong U.S. earnings and a step forward in Congress on U.S. tax reform brightened the mood, even though investors noted that many hurdles remain to passage of a deal on tax cuts.

businessNews reuters.com

Toshiba says not in talks to with any company over PC unit sale

TOKYO (Reuters) - Toshiba Corp said on Friday it had not entered into talks with any company to sell its personal computer business, denying media reports that it was in negotiations to sell the unit to Taiwan's Asustek Computer Inc.

businessNews reuters.com

Toyota to consider selling locally-developed EVs in China

GUANGZHOU/BEIJING (Reuters) - Toyota Motor Corp will consider selling in China all-electric battery car models developed by its two local joint ventures, the automaker said on Friday in a press release.

businessNews reuters.com

Nissan's Infiniti to start producing new SUV in China next year

BEIJING (Reuters) - Nissan Motor Co's premium brand Infiniti will start producing a new crossover SUV in China next year, using existing manufacturing capacity in the northeastern city of Dalian. 

businessNews reuters.com

Gulf carriers may be in focus under foreign airline U.S. tax exemption cut

(Reuters) - A U.S. congressional proposal that would eliminate income tax exemptions for certain airlines could affect major Gulf carriers, potentially worsening an international spat between U.S. airlines and their Middle East rivals.

businessNews reuters.com

Toshiba says not considering separate investment in chip unit by Bain group member

TOKYO (Reuters) - Toshiba Corp said on Friday it was not considering accepting any separate investment in its memory chip unit by a member of a Bain Capital-led consortium that has agreed to buy the prized business for $18 billion.

businessNews reuters.com

Asian shares gain as earnings, tax debate help U.S. stocks

TOKYO (Reuters) - Asian shares rose on Friday as strong U.S. earnings and a step forward in the U.S. Congress on tax reform brightened the mood, even though investors noted that many more hurdles must be passed to reach a final deal on tax cuts.

businessNews reuters.com

Automaker Subaru sees $177 million in costs linked to inspection scandal

TOKYO (Reuters) - Subaru Corp said it was recalling 395,000 vehicles in Japan and that it expected to incur about 20 billion yen ($177 million) in costs related to improper final inspection procedures at domestic plants.

businessNews reuters.com

Comcast, Verizon approached Twenty-First Century Fox to buy some assets: sources

(Reuters) - Comcast Corp and Verizon Communications Inc have both approached Twenty-First Century Fox Inc to express interest in buying Fox assets that were the subject of recent talks between Fox and Walt Disney Co, two people familiar with the situation told Reuters on Thursday.

businessNews reuters.com

Comcast approached Twenty-First Century Fox to buy some assets: source

(Reuters) - Comcast Corp has approached Twenty-First Century Fox Inc, expressing interest in the same assets that Walt Disney Co had approached Fox for recently, according to a person familiar with the matter.

businessNews reuters.com

Toshiba in talks to sell PC operations to Asus: Nikkei‍​

(Reuters) - Japanese conglomerate Toshiba Corp has entered into negotiations to sell its personal computer operations to Taiwan's Asustek Computer Inc, the Nikkei reported on Friday.

businessNews reuters.com

Soros, Cohen among big name investors betting on Argentine startups

BUENOS AIRES (Reuters) - The founder of mobile banking startup Uala, Pierpaolo Barbieri, says that just a few years ago big name investors would never have put their money in early stage companies like his in Argentina.Now, in what he says is a sign of changing times, the 30-year-old entrepreneur can count among his backers billionaire George Soros and Point72 Ventures LLC, funded by the family office of hedge fund magnate Steve Cohen.

businessNews reuters.com

Wall Street rallies powered by Cisco, Walmart; House tax vote supports

NEW YORK (Reuters) - Wall Street's main indexes rose sharply on Thursday boosted by earnings-related gains in Wal-Mart and Cisco, while a tax bill expected to boost corporate earnings passed its first, if smallest, hurdle.

businessNews reuters.com

Jetmakers end Dubai rollercoaster with big orders pending

DUBAI (Reuters) - It started with a deal that never was and ended with the mother of all air show announcements - this week's Dubai Airshow saw little in the way of firm new business, but reminded observers the rivalry between two global giants is as fierce as ever.

businessNews reuters.com

Barnes & Noble says investor's plan to take it private not 'bona fide'

(Reuters) - Barnes & Noble Inc said on Thursday a deal proposed by an activist investor to take the bookstore chain private was not "bona fide" as its chairman and founder, Leonard Riggio, would not participate and raising the required funds was highly unlikely.

businessNews reuters.com

Wall Street gains powered by Cisco, Walmart; tax passage supports

NEW YORK (Reuters) - Wall Street's main indexes rose sharply on Thursday boosted by earnings-related gains in Wal-Mart and Cisco, while a tax bill expected to boost corporate earnings passed its first - if smallest - hurdle.

businessNews reuters.com

FCC approves TV technology that gives better pictures but less privacy

WASHINGTON (Reuters) - The U.S. Federal Communications Commission voted 3-2 on Thursday to allow broadcasters to voluntarily use a new technology to improve picture quality and allow better reception on mobile phones and give advertisers dramatically more data about viewing habits.

businessNews reuters.com

Meredith approaches Time again with Koch brothers backing: source

(Reuters) - Meredith Corp is in talks again to buy Time Inc in a potential deal backed by billionaire brothers Charles Koch and David Koch, a source familiar with the situation told Reuters on Thursday.

Jim & Andy: The Great Beyond -- Featuring a Very Special, Contractually Obligated Mention of Tony Clifton (Movie) nytimes.com

Review: ‘Jim & Andy,’ When Carrey Became Kaufman

In his documentary about Jim Carrey, Andy Kaufman and the making of “Man on the Moon,” the director Chris Smith finds multiple realities and laughs.

businessNews reuters.com

U.S. airlines sharply cut involuntary passenger bumping: DOT

WASHINGTON (Reuters) - Major U.S. airlines are bumping far fewer passengers from overbooked flights after a high-profile incident in April prompted the industry to reassess its practices, the U.S. Department of Transportation (DOT) reported on Thursday.

businessNews reuters.com

Cobalt hedging not mining the route for VW in EV drive, official says

BERLIN (Reuters) - Volkswagen is not looking to secure long-term supplies of cobalt, a key ingredient of electric-car batteries, by investing in mines, a senior official at the automaker said.

businessNews reuters.com

Volkswagen taps Brazil growth with new model to challenge Fiat, GM

BERLIN (Reuters) - Volkswagen launched its new Virtus model on Thursday to tap Brazil's highest-volume segment as part of a recovery plan that analysts said will help it regain ground on rivals General Motors and Fiat in South America's largest car market.

businessNews reuters.com

Ex-Trump lawyer to defend AT&T-Time Warner merger

WASHINGTON (Reuters) - AT&T Inc said it had hired media lawyer Daniel Petrocelli, whose clients have included U.S. President Donald Trump, to defend its acquisition of media and entertainment company Time Warner Inc if the government sues to block the deal.

businessNews reuters.com

Wal-Mart, tech stocks lead Wall Street gains

(Reuters) - Wall Street's main indexes marched higher on Thursday, driven by gains in Wal-Mart and technology shares, while investors awaited a vote on the Republican tax bill.

businessNews reuters.com

Siemens to cut 6,900 jobs to tackle flailing turbines business

FRANKFURT (Reuters) - Siemens will cut about 6,900 jobs, or close to 2 percent of its global workforce, mainly at its power and gas division, which has been hit by the rapid growth of renewables.

businessNews reuters.com

Wal-Mart shares jump on strong U.S. sales growth

CHICAGO (Reuters) - Wal-Mart Stores Inc reported better-than-expected U.S. comparable sales on Thursday, as customers stocked up on food and other supplies ahead of hurricanes and online purchases soared, sending its shares up more than 8.5 percent.

businessNews reuters.com

AT&T hires ex-Trump lawyer to defend possible Time Warner deal lawsuit

WASHINGTON (Reuters) - AT&T said on Thursday it had hired prominent media lawyer Daniel Petrocelli to serve as lead trial counsel if the U.S. Justice Department files a lawsuit to block the No. 2 U.S. wireless company's acquisition of media and entertainment company Time Warner .

businessNews reuters.com

Viacom expects distributor revenue to drop in 2018; shares sink

(Reuters) - Viacom Inc , owner of MTV and Comedy Central, said Thursday it expects lower revenue from cable and satellite companies in 2018, a forecast that sent its shares down almost 10 percent in morning trading.

businessNews reuters.com

Late arrival of iPhone X clouds Best Buy's results

(Reuters) - Best Buy Co Inc took a $100 million hit in the third quarter from the late launch of the iPhone X and gave a profit forecast for the holiday period that fell short of analysts' estimates, as it competes in a brutal U.S. retail market.

businessNews reuters.com

Gains in Wal-Mart, Cisco lift Wall Street

(Reuters) - The S&P 500 index recovered from its worst two-day fall since August on Thursday after Wal-Mart and Cisco shares soared on strong results.

businessNews reuters.com

Siemens to cut 6,900 jobs across its energy businesses

FRANKFURT (Reuters) - Siemens plans to cut about 6,900 jobs across its businesses supplying the power generation and oil and gas industries, which have been hit by the rapid growth of renewable energy.

businessNews reuters.com

IBM urged to avoid working on 'extreme vetting' of U.S. immigrants

WASHINGTON (Reuters) - A coalition of rights groups launched an online petition on Thursday urging IBM Corp to declare that it will not develop technology to help the Trump administration carry out a proposal to identify people for visa denial and deportation from the United States.

businessNews reuters.com

Wal-Mart sales growth bucks trend in retail sector, shares jump

CHICAGO (Reuters) - Wal-Mart Stores Inc reported better-than-expected U.S. comparable sales on Thursday, as customers stocked up on food and building materials ahead of hurricanes and online purchases soared, sending its shares up more than 7 percent.

businessNews reuters.com

Wall Street recovers on strong Wal-Mart, Cisco earnings

(Reuters) - U.S. stock indexes recovered from two days of losses on Thursday after technology stocks got a boost from Cisco results and Wal-Mart soared to a record high.

businessNews reuters.com

Hong Kong IPO surge challenges New York in battle for China listings

HONG KONG (Reuters) - It's not often Hong Kong can boast hotter initial public offerings than New York, but some recent deals and a potential pipeline of big Chinese tech floats suggest a shift in the balance between the two fundraising rivals.

businessNews reuters.com

Viacom expects affiliate sales to drop in 2018; shares sink

(Reuters) - Viacom Inc , owner of MTV, Comedy Central and Paramount, said Thursday it expects high single-digit declines in revenue from U.S. cable TV operators and online distributors in the first half of 2018, sending its shares down 8 percent.

businessNews reuters.com

Siemens says to cut about 6,900 jobs

FRANKFURT (Reuters) - Siemens plans to cut about 6,900 job in its turbines division, including related services and in large drives, the Munich-based industrial group said on Thursday.

worldNews reuters.com

Saudi foreign minister says message to Iran is: 'enough is enough'

RIYADH (Reuters) - Saudi Arabia's foreign minister told Reuters in an interview on Thursday that the kingdom was reacting to what he called the "aggressive" behavior of its arch-rival Iran in Lebanon and Yemen.

businessNews reuters.com

Wal-Mart third-quarter sales boosted by hurricanes, online; shares jump

CHICAGO (Reuters) - Wal-Mart Stores Inc , the world's largest retailer, reported better-than-expected quarterly sales at established U.S. stores on Thursday, boosted by hurricane-related purchases and soaring online sales, sending its shares up 4.4 percent.

businessNews reuters.com

Viacom beats revenue estimates despite distribution headwinds

(Reuters) - Viacom Inc , owner of MTV, Comedy Central and Paramount, reported mixed quarterly results Thursday as higher-than-expected revenue in its film unit and improved domestic ad sales offset lower revenue from U.S. cable TV operators and online distributors.

worldNews reuters.com

Italy's PD drops fast in polls after Sicily flop

ROME (Reuters) - Italy's ruling Democratic Party (PD) has lost support following its flop in a regional election in Sicily, while Silvio Berlusconi's Forza Italia (Go Italy!) has gained ground, according to a poll released on Thursday.

businessNews reuters.com

Rights groups pressure IBM to renounce interest in Trump's 'extreme vetting'

WASHINGTON (Reuters) - A coalition of rights groups launched an online petition on Thursday urging IBM Corp to renounce a Trump administration proposal to use technology to identify people for visa denial and deportation from the United States.

businessNews reuters.com

Best Buy falls short with holiday profit forecast

(Reuters) - Best Buy Co Inc reported disappointing third-quarter results on Thursday and forecast holiday-quarter profit below Wall Street estimates as it cut prices to match those offered by rivals including Amazon.com Inc .

businessNews reuters.com

Emerson sweetens bid for Rockwell Automation to $29 billion

(Reuters) - Emerson Electric Co boosted its offer to buy Rockwell Automation Inc to about $29 billion, after the smaller rival rebuffed a $27.6 billion bid last month saying it undervalued the company.

businessNews reuters.com

Wal-Mart reports better-than-expected third-quarter sales, shares jump

CHICAGO (Reuters) - Wal-Mart Stores Inc , the world's largest retailer, reported better-than-expected quarterly sales at established U.S. stores on Thursday, boosted by hurricane-related purchases and soaring online sales, sending its shares up 3.5 percent.

businessNews reuters.com

Best Buy's holiday-quarter profit forecast misses Street view

(Reuters) - Best Buy Co Inc reported on Thursday disappointing third-quarter results and forecast holiday-quarter profit below Wall Street's estimates as the company cuts prices to match those offered by rivals such as Amazon.com Inc .

businessNews reuters.com

Tesla to unveil electric big-rig truck in midst of Model 3 factory 'hell'

SAN FRANCISCO (Reuters) - Tesla Inc on Thursday will unveil a prototype electric big-rig truck, which may be able to drive itself, throwing the company into a new market even as it struggles to roll out an affordable sedan which is central to the company's future.

businessNews reuters.com

T-Mobile US to propose significant share buyback

BARCELONA (Reuters) - T-Mobile US will propose a "significant" share buyback that could start in December, CFO Braxton Carter said on Thursday, a sign that the third biggest carrier in the United States is confident in its outlook after the collapse of a merger with Sprint Corp.

businessNews reuters.com

Uber's London license appeal could take years: Mayor Khan

LONDON (Reuters) - Uber's [UBER.UL] appeal process against a decision by London's transport regulator to strip the taxi app of its operating license in the British capital could take years, the Mayor of London Sadiq Khan said on Thursday.

New York City nytimes.com

New York Today: New York Today: Chicago Pizza vs. the New York Slice

Thursday: Readers respond to the pizza divide, holiday markets and windows open, and naming a bridge.

businessNews reuters.com

T-Mobile US to propose significant share buyback: CFO

BARCELONA (Reuters) - U.S. No.3 carrier T-Mobile US will propose a "significant" share buyback that could start in December, finance chief Braxton Carter said on Thursday, a sign of confidence after the collapse of its merger with Sprint Corp.

businessNews reuters.com

Kazakh airline SCAT orders six Boeing jets

DUBAI (Reuters) - Boeing signed a deal at the Dubai Airshow on Thursday to sell six Boeing 737 MAX 8 passenger jets to SCAT Airlines of Kazakhstan, a person close to the discussions said.

businessNews reuters.com

T-Mobile to roll out U.S. 5G network by 2020

BARCELONA (Reuters) - T-Mobile US, the third-largest U.S. mobile operator, will roll out its fifth-generation network across the United States by 2020, Chief Technology Officer Neville Ray said on Thursday.

businessNews reuters.com

Europe's longest stocks sell-off of the year abates

LONDON (Reuters) - Investors tentatively returned to world stock markets on Thursday, looking for bargains after Europe's longest losing streak of the year and the worst run since March for the top global indices.

businessNews reuters.com

Few banks seen queuing for China's red carpet invite

HONG KONG (Reuters) - China stunned the finance world last week when it unveiled plans to allow foreign control of its financial institutions. Few bankers thought their long-held dream of better access to the world's largest banking market was within reach.

businessNews reuters.com

Oil steady as expected output curbs balance U.S. supply

LONDON (Reuters) - Oil markets stabilized on Thursday as expectations that OPEC would extend production limits balanced rising U.S. crude production and inventories.

businessNews reuters.com

Oil edges up as expected extension of OPEC cuts counters rising U.S. supplies

SINGAPORE (Reuters) - Oil markets edged up on Thursday as expectations that OPEC will extend production cuts at a meeting at the end of this month outweighed rising U.S. crude production and inventories.

businessNews reuters.com

Asia shares gain despite Wall St. weakness, dollar edges higher

TOKYO/SYDNEY (Reuters) - Asian shares shrugged off Wall Street losses and a lackluster start to rally on Thursday, while the dollar edged up as investors priced in more U.S. rate hikes after upbeat economic data.

companyNews reuters.com

PRESS DIGEST-New York Times business news - Nov 16

Nov 16 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.

businessNews reuters.com

Asia shares gain despite Wall St. slip, dollar edges higher

TOKYO/SYDNEY (Reuters) - Asian shares shrugged off a lackluster start and pushed higher, while the dollar edged up as investors priced in more U.S. rate hikes after upbeat economic data.

businessNews reuters.com

Oil stable as OPEC cuts counter rising U.S. supplies

SINGAPORE (Reuters) - Oil markets were stable on Thursday as rising U.S. crude production and inventories were countered by expectations that OPEC will extend an ongoing production cut during a meeting at the end of this month.

companyNews reuters.com

UPDATE 2-Da Vinci portrait of Christ sells for record $450.3 mln in New York

NEW YORK, Nov 15 (Reuters) - Leonardo da Vinci's portrait of Christ, "Salvator Mundi", sold for a record-smashing $450.3 million on Wednesday at Christie's, more than double the old price for any work of art at auction.

businessNews reuters.com

Volkswagen Group earmarking $11.8 billion to develop, build China electric cars

GUANGZHOU/BEIJING (Reuters) - Volkswagen Group plans to spend 10 billion euros ($11.8 billion) by 2025 to develop and manufacture so-called new-energy vehicles (NEVs), the group's China chief Jochem Heizmann told Reuters on Thursday.

businessNews reuters.com

Meredith, Time Inc restart deal talks with Koch brothers' support: NYT

(Reuters) - Time Inc is in talks with Meredith Corp again to sell itself in a potential deal backed by billionaire brothers Charles Koch and David Koch, the New York Times reported.

businessNews reuters.com

Mark Cuban says tax rates have almost no impact on investment

NEW YORK (Reuters) - Billionaire entrepreneur and potential presidential candidate Mark Cuban said on Wednesday that a cut in the U.S. corporate tax rate would have little to no effect on his investment decisions.

companyNews reuters.com

UPDATE 1-Da Vinci portrait of Christ sells for record $450.3 mln in New York

NEW YORK, Nov 15 (Reuters) - Leonardo da Vinci's portrait of Christ "Salvator Mundi" sold for a record-smashing $450.3 million on Wednesday at Christie's in New York -- more than double the old mark for any work of art at auction.

artsNews reuters.com

Da Vinci portrait of Christ sells for record $450.3 million in New York

NEW YORK (Reuters) - Leonardo da Vinci's portrait of Christ "Salvator Mundi" sold for a record-smashing $450.3 million on Wednesday at Christie's in New York -- more than double the old mark for any work of art at auction.

businessNews reuters.com

Oil prices weighed down by rising U.S. supplies, but OPEC cuts prevent falls

SINGAPORE (Reuters) - Oil markets on Thursday were weighed down by rising U.S. crude production and inventories, but prices were prevented from falling by expectations that OPEC will extend an ongoing production cut during a meeting at the end of this month.

businessNews reuters.com

Ackman sells Air Products, Nomad Foods positions, makes strong profit

NEW YORK (Reuters) - Activist investor William Ackman told his hedge fund clients on Wednesday that he liquidated positions in Air Products and Chemicals Inc and Nomad Foods Ltd, investments that earned them a lot of money.

businessNews reuters.com

Narrow win for Fox shows restlessness with dual-class shares

LOS ANGELES/NEW YORK (Reuters) - A shareholder proposal calling for Twenty-First Century Fox Inc to scrap its dual-class share structure was rejected on Wednesday, though the measure received significant support among voters outside the controlling Murdoch family.

businessNews reuters.com

Asia shares cautious as mood turns skittish

SYDNEY (Reuters) - Asian shares got off to a cautious start on Thursday after Wall Street stumbled despite upbeat U.S. economic news and the Treasury yield curve hit its flattest in a decade as investors priced in more U.S. rate hikes.

businessNews reuters.com

BlackBerry shifts patent strategy through outsourcing deal

TORONTO (Reuters) - Canada's BlackBerry Ltd announced the outsourcing of a significant part of its patent licensing efforts on Wednesday to a unit of the U.S.-based Marconi Group.

businessNews reuters.com

Trian's Peltz claims win in proxy fight, P&G says not yet

(Reuters) - Activist hedge fund manager Nelson Peltz claimed victory in his fight to win a seat on Procter & Gamble Co's board after a preliminary tally of votes was released on Wednesday, but P&G refused to concede and said it wants to see a certified result before declaring a winner.

domesticNews reuters.com

Australian diplomat dies after falling from New York balcony

NEW YORK (Reuters) - An Australian diplomat accidentally fell five floors to his death on Wednesday from the deck of his New York City home during a social gathering with his wife and friends, police and local media said.

businessNews reuters.com

Tezos organizers hit with second lawsuit over cryptocurrency fundraiser

(Reuters) - A second lawsuit was filed this week against the organizers of cybercurrency technology project Tezos, an initiative that raised $232 million to issue a cryptocurrency that does not exist and fund development of a transaction system that has no clear end date.

businessNews reuters.com

Washington state AG's office confirms Justice Department circulating AT&T Time Warner complaint

WASHINGTON (Reuters) - Washington state attorney general's office acknowledged on Wednesday that it was reviewing a draft complaint being circulated by the U.S. Justice Department regarding AT&T's plan to buy Time Warner , confirming that the Justice Department has drawn up a complaint.

Libraries and Librarians nytimes.com

New York Public Library Unveils $317 Million Master Plan

The plan improves circulation and opens up underused spaces, while also announcing a study on the hotly contested issue of the library’s stacks.

businessNews reuters.com

Wall Street falls with energy shares; tax angst weighs

NEW YORK (Reuters) - U.S. stocks fell on Wednesday as energy sector shares dropped for a fourth straight session, tracking crude prices, while a late run-up was thwarted by concerns over the passage of a tax revamp after Republican senators were critical of the proposal.

businessNews reuters.com

Trian's Peltz says it wins proxy fight against P&G

(Reuters) - Activist hedge fund Trian's Nelson Peltz said on Wednesday he won a proxy fight with Procter & Gamble Co for a seat on the company's board.

businessNews reuters.com

Oracle backs tougher foreign investment bills aimed at China

WASHINGTON (Reuters) - Software maker Oracle Corp is backing bipartisan legislation that aims to toughen foreign investment rules amid increasing concern over Chinese efforts to buy U.S. high-tech companies, according to a letter seen by Reuters on Wednesday.

businessNews reuters.com

BlackBerry signs patent licensing deal with Teletry

(Reuters) - Canada's BlackBerry Ltd said on Wednesday it agreed to allow Teletry, a unit of patent licensing firm Marconi Group, to sub-license a broad range of its patents to global smartphone manufacturers.

businessNews reuters.com

Delta Air says tax cut would buy new planes, pay down debt

DETROIT (Reuters) - C would use savings from a lower U.S. corporate tax rate to buy new equipment and pay down some of its debt, the carrier's chief executive said on Wednesday, as congressional Republicans work to push forward a tax cut bill.

businessNews reuters.com

Exclusive: Mattel snubs Hasbro's latest acquisition approach - sources

(Reuters) - Mattel Inc has rebuffed Hasbro Inc's latest takeover approach, people familiar with the matter said on Wednesday, casting uncertainty over the potential combination of the world's two largest toy companies.

businessNews reuters.com

Bombardier plans hiring spree for business jet program: sources

MONTREAL (Reuters) - Bombardier Inc expects to hire around 1,000 workers in Montreal over 18 months, as the Canadian plane and train maker ramps up production of its new Global 7000 business jet, three sources familiar with the matter said on Wednesday.

businessNews reuters.com

U.S. government approaches 18 states to fight AT&T-Time Warner deal

WASHINGTON (Reuters) - The U.S. Justice Department has approached 18 state attorneys general to try to win their support for an antitrust lawsuit to block pay TV and wireless powerhouse AT&T Inc's $85.4 billion deal to buy media and entertainment company Time Warner Inc, a person briefed on the matter said on Wednesday.

businessNews reuters.com

Wall Street falls as energy tracks oil lower; tech weighs

NEW YORK (Reuters) - U.S. stocks fell on Wednesday as energy sector shares dropped for a fourth straight session, tracking crude prices, while tech, the best performing sector this year, weighed the most on the S&P 500.

Coups D'Etat and Attempted Coups D'Etat nytimes.com

Grace Mugabe, Shrewd if Ill-Tempered, Became a Target of Zimbabwe’s Anger

Robert Mugabe’s wife helped oust two successive vice presidents who rivaled her as potential successors to her ailing husband.

businessNews reuters.com

U.S. delivery companies dig deep to hire holiday season help

SEATTLE (Reuters) - The tightest U.S. labor market this century is putting pressure on margins for freight haulers and warehouse operators as they bid for hundreds of thousands of workers to move packages during the peak holiday period.

businessNews reuters.com

Lockheed's CH-53K helicopter to make global debut at Berlin air show: sources

BERLIN (Reuters) - The U.S. military has approved Lockheed Martin Corp's new CH-53K heavy-lift helicopter to fly at the Berlin air show next April, according to two sources familiar with the program.

businessNews reuters.com

Fox shareholders reject proposal to abandon dual-class shares

(Reuters) - A shareholder proposal calling for Twenty-First Century Fox Inc to do away with its dual-class share structure was rejected on Wednesday, based on preliminary results announced at the media company's annual meeting.

businessNews reuters.com

Payments company Square tests bitcoin buying and selling

(Reuters) - Payments company Square Inc said it has started allowing select customers to buy and sell bitcoins on its Cash app, as it looks to tap into a craze that has sent the cryptocurrency up nearly sevenfold this year.

businessNews reuters.com

Wall Street lower as weak oil prices pull down energy stocks

(Reuters) - U.S. stocks grappled with losses on Wednesday as a drop in oil prices for the fourth straight day pulled down energy stocks amid worries over delay in corporate tax cut.

businessNews reuters.com

GM challenges Tesla with promise of profitable electric cars

(Reuters) - General Motors Co plans to launch a new family of electric vehicles in 2021 that will cost less to build and make a profit for the U.S. No. 1 automaker, Chief Executive Mary Barra told investors on Wednesday.

businessNews reuters.com

Amazon cuts prices again at Whole Foods ahead of the holidays

(Reuters) - Amazon.com Inc said on Wednesday it will offer more discounts and steeper price cuts at Whole Foods Market on many organic foods and groceries popular during the holidays.

businessNews reuters.com

Target signals another weak holiday quarter, shares tumble

(Reuters) - Target Corp's holiday-quarter profit forecast fell short of analyst expectations, sending its shares down 10 percent on Wednesday as hopes faded that the retailer would make a shopping season comeback.

businessNews reuters.com

Record Airbus order as Franke ups bet on budget airlines

DUBAI (Reuters) - Airbus hailed its biggest ever airliner deal on Wednesday with an umbrella agreement to sell 430 planes worth up to $50 billion to U.S. budget airlines investor Bill Franke.

businessNews reuters.com

Wall Street down as energy stocks hit by oil slide

(Reuters) - Wall Street's main indexes were lower on Wednesday as energy stocks remained under pressure after oil prices fell for a fourth straight day.

businessNews reuters.com

GM CEO promises profitable electric vehicles by 2021

(Reuters) - General Motors Co plans to launch a new family of electric vehicles in 2021 with batteries costing about 30 percent less than those used on the current Chevrolet Bolt, Chief Executive Mary Barra told investors on Wednesday.

businessNews reuters.com

Justice Department approaches states to block AT&T-Time Warner deal: source

WASHINGTON (Reuters) - The U.S. Justice Department has approached state attorneys general in a bid to block telecommunications powerhouse AT&T Inc's $85.4 billion deal to buy media and entertainment company Time Warner Inc, a person briefed on the matter told Reuters on Wednesday.

businessNews reuters.com

GM CEO Barra details plan for new EV family, lower-cost battery

(Reuters) - General Motors Co Chief Executive Mary Barra is expected to tell investors on Wednesday that the automaker plans to launch a new family of electric vehicles in 2021 with batteries that will cost about 30 percent less than those used on the current Chevrolet Bolt.

businessNews reuters.com

Target shares sink as promotions darken holiday outlook

(Reuters) - Target Corp's profit forecast for the key holiday quarter fell short of analyst expectations, sending its shares down nearly 10 percent, as the retailer continues to cut prices and invest in its delivery options to attract more customers.

businessNews reuters.com

Wall Street falls as oil slide, tax bill concerns weigh

(Reuters) - U.S. stocks fell on Wednesday, with the Dow Jones index shedding more than 100 points as a slide in oil prices and concerns about the fate of U.S. tax cuts weighed on the mood.

businessNews reuters.com

Amazon unveils more Whole Foods price cuts ahead of Thanksgiving

(Reuters) - Amazon.com Inc on Wednesday unveiled more discounts on several grocery products at Whole Foods Market, days ahead of the Thanksgiving holiday, sending stocks of rival U.S. grocers lower in early trading.

businessNews reuters.com

Wall Street opens lower on oil price slide

(Reuters) - The Dow shed more than 100 points at the open on Wednesday, as a slide in oil prices hit global markets and concerns about the fate of U.S. tax cuts continued to weigh on the mood.

businessNews reuters.com

Tesla says it will fight lawsuit claiming racial discrimination

(Reuters) - Tesla Inc said on Wednesday it would fight a class-action lawsuit filed against it earlier this week claiming the electric automaker's California production plant was a "hotbed for racist behavior."

businessNews reuters.com

Biggest deal yet for Airbus as Franke ups bet on budget airlines

DUBAI (Reuters) - Airbus landed its biggest ever airliner deal on Wednesday with an agreement to sell 430 planes worth up to $50 billion to U.S. budget airlines investor Bill Franke.

businessNews reuters.com

U.S. investor Cerberus takes 3 percent stake in Deutsche Bank

FRANKFURT (Reuters) - Cerberus [CBS.UL] has taken a 3 percent stake in Deutsche Bank , Germany's flagship lender said on Wednesday, making the U.S. buyout fund the fourth-largest shareholder after China's HNA group, Qatar and money manager Blackrock .

businessNews reuters.com

Exclusive: Glencore offers Chad new plan to repay more than $1 billion loan

LONDON (Reuters) - Commodities trader Glencore has offered Chad a grace period from principle repayments on a more than $1 billion cash-for-crude loan and extended the deadline for full repayment to 2025 from 2022, a letter seen by Reuters showed.

businessNews reuters.com

Global stocks set for longest run of losses since March, euro shines

LONDON (Reuters) - World stocks were set for their longest losing streak in more than six months on Wednesday as weaker commodities weighed, while the euro hit its highest levels in three weeks.

businessNews reuters.com

Target's holiday-quarter profit forecast disappoints, shares dip

(Reuters) - Target Corp issued a disappointing profit forecast for the key holiday quarter as it continues to depend on price cuts to drive traffic to its stores and online, sending its shares down 4 percent in premarket trading.

businessNews reuters.com

Boeing in 175 plane deal with budget carrier flydubai

DUBAI (Reuters) - Boeing Co. reached a preliminary deal for 175 of its 737 MAX jets with flydubai on Wednesday, potentially committing the budget airline's fleet to the U.S. planemaker for another decade.

businessNews reuters.com

Target's holiday-quarter profit forecast disappoints

(Reuters) - Target Corp issued an underwhelming profit forecast for the key holiday quarter, as it continues to depend on price cuts to drive traffic to its stores and websites, sending its shares down 3 percent in premarket trade.

topNews reuters.com

Special Report: How a defrocked judge became the chief legal enforcer for Maduro's Venezuela

CARACAS (Reuters) - Last March, Chief Justice Maikel Moreno shocked Venezuela when his Supreme Court nullified the powers of the National Assembly and transferred them to the 32-judge tribunal.

businessNews reuters.com

Exclusive: Carlyle seeks to raise $1 billion for new energy fund - sources

LONDON (Reuters) - Carlyle Group , the world's largest private equity firm, is raising $1 billion for a new fund to invest in oil and gas outside the United States as a stronger outlook for oil prices rekindles investor appetite, banking sources told Reuters.

businessNews reuters.com

Target's quarterly comparable sales beat estimates

(Reuters) - Target Corp reported a better-than-expected 0.9 percent rise in comparable sales, as price cuts on several everyday items helped drive traffic at its stores and website.

businessNews reuters.com

Exclusive: Amazon scraps bundled video service - sources

NEW YORK/LOS ANGELES (Reuters) - Amazon.com Inc has scrapped plans to launch an online streaming service bundling popular U.S. broadcast and cable networks because it believes it cannot make enough money on such a service, people familiar with the matter told Reuters.

businessNews reuters.com

Shareholders take aim at Murdochs with Fox voting rights push

NEW YORK (Reuters) - A shareholder proposal calling for Twenty-First Century Fox Inc to do away with its dual-class share structure may inflict a symbolic black eye on the media company's founder Rupert Murdoch and his family at its annual meeting on Wednesday.

businessNews reuters.com

Israel prepares to send tax bills to Facebook, Google: report

JERUSALEM (Reuters) - Israel is planning to send tax bills within a year to internet companies Google and Facebook, financial newspaper TheMarker reported on Wednesday, joining efforts by several countries, including the European Union, to get the internet giants to pay more tax.

businessNews reuters.com

Qualcomm-NXP ruling may be in 2018: EU competition commissioner

BEIJING (Reuters) - A ruling on Qualcomm Inc's proposed $38 billion acquisition of NXP Semiconductors NV may come in 2018, European Commissioner for Competition Margrethe Vestager said on Wednesday.

New York City nytimes.com

New York Today: New York Today: Pooch Parking

Wednesday: Dog owners’ opinions on rentable doghouses, a traveling David Bowie exhibition, and a foodie firestorm.

businessNews reuters.com

More cases against Google to come, EU commissioner says

BEIJING (Reuters) - There are more cases against Alphabet Inc's Google to come, Margrethe Vestager, the European Commissioner for Competition, said on Wednesday during a trip to Beijing.

businessNews reuters.com

Tencent third-quarter profit surges on smartphone games, payment services

HONG KONG (Reuters) - Chinese internet giant Tencent Holdings Ltd posted a 69 percent jump in its quarterly net profit, blowing past estimates, underpinned by a strong growth in revenue from its smartphone games and payment-related services.

businessNews reuters.com

Airbus in record 430 plane deal with budget airline backer Franke

DUBAI (Reuters) - Airbus landed a deal for a record 430 of its A320neo-family jets on Wednesday as U.S. investor Bill Franke raised his bet on budget airlines.

businessNews reuters.com

BP begins share buybacks as years of austerity pay off

(Reuters) - BP Plc said on Wednesday it would begin a share buyback program, making it the first major European energy company to resume buybacks since the 2014 price slump in a sign years of austerity have paid off.

businessNews reuters.com

Volkswagen says works council payments legal, after raids

FRANKFURT (Reuters) - Volkswagen said it had obeyed the law in the payment of its works council chief, Bernd Osterloh, whose office was raided on Tuesday along with those of its chairman, finance chief and head of personnel.

businessNews reuters.com

Bayer taps Nestle executive to stem eroding consumer care sales

FRANKFURT (Reuters) - German drugmaker Bayer has hired the head of Nestle's baby food business to reverse a decline in revenue at its embattled consumer health division from next March.

businessNews reuters.com

Volkswagen says adheres to works council remuneration law

FRANKFURT (Reuters) - Volkswagen said on Wednesday that it obeyed the law in the payment of its works council chief, Bernd Osterloh.

businessNews reuters.com

Nestle reorganizes infant nutrition business

LONDON (Reuters) - Nestle , the world's largest packaged food company, said on Wednesday it would reorganize its infant nutrition business to try to improve its performance.

businessNews reuters.com

Nestle restructures infant nutrition business

LONDON (Reuters) - Nestle , the world's largest packaged food company, said on Wednesday it would reorganize its infant nutrition business to improve its performance.

businessNews reuters.com

Kobe Steel plant loses remaining industrial quality badge

TOKYO (Reuters) - A Kobe Steel plant, which is at the center of a data falsification scandal that has roiled supply chains around the world, has been stripped of all its industrial quality certifications, Japan's government said on Wednesday.

businessNews reuters.com

Asian stocks skid as oil woes sap sentiment, euro stands tall

TOKYO (Reuters) - Asian stocks stumbled on Wednesday after weaker crude oil prices took a toll on Wall Street, while the euro kept big gains after enjoying a boost from robust German economic growth.

businessNews reuters.com

U.S. investor nears record 400-jet Airbus order: sources

DUBAI (Reuters) - Airline pioneer Bill Franke looked set to place a historic $40 billion order for around 400 Airbus A320 jets, shaking up the low-cost industry and turning the annual race between Airbus and Boeing for plane orders on its head.

businessNews reuters.com

Foxconn's third quarter profit tumbles after iPhone X production hurdles

TAIPEI (Reuters) - Taiwan's Foxconn reported a 39 percent slide in quarterly profit, far worse than expected, as the assembler of Apple Inc products saw margins squeezed by production bottlenecks for the iPhone X.

businessNews reuters.com

Kobe Steel's Hatano plant to lose all JIS certifications: Nikkei

TOKYO (Reuters) - A unit of Kobe Steel is set to lose all of its Japan Industrial Standards (JIS) certifications at its Hatano plant, including one already revoked last month, the Nikkei reported on Wednesday.

businessNews reuters.com

Qualcomm invests in Chinese AI facial recognition startup SenseTime

BEIJING (Reuters) - Chinese artificial intelligence (AI) startup SenseTime Group said on Wednesday it has sealed an investment from chipmaker Qualcomm Inc as part of a funding round that will close later this year.

businessNews reuters.com

Airbus nears deal to sell around 400 jets to Indigo Partners: sources

DUBAI (Reuters) - Airbus SE is close to agreeing a blockbuster order worth more than $40 billion at list prices to sell around 400 aircraft to U.S.-based investment fund Indigo Partners, founded by low-cost airline pioneer Bill Franke, two sources said.

businessNews reuters.com

Foxconn's third quarter profit slides below estimates after iPhone X production hurdles

TAIPEI (Reuters) - Taiwan's Foxconn , the world's largest contract electronics manufacturer, saw quarterly profit slide 39 percent - a result far below estimates and widely attributed to production issues for Apple Inc's iPhone X.

businessNews reuters.com

Sessions declines to say if White House asked about AT&T-Time Warner merger

WASHINGTON (Reuters) - U.S. Attorney General Jeff Sessions would not say on Tuesday if White House officials contacted his department about its review of AT&T Inc's proposed purchase of Time Warner , which one analyst said the Justice Department may sue to block as soon as Wednesday.

businessNews reuters.com

Oil prices slide after IEA casts doubt over demand outlook

SINGAPORE (Reuters) - Oil prices tumbled on Wednesday, continuing Tuesday's slide after the International Energy Agency cast doubts over the past months' narrative of tightening fuel markets.

businessNews reuters.com

U.S. oil prices slide after IEA casts doubt over demand outlook

SINGAPORE (Reuters) - U.S. oil prices tumbled on Wednesday, continuing Tuesday's slide after the International Energy Agency (IEA) cast doubts over the past few months' narrative of a tightening fuel market.

businessNews reuters.com

Foxconn's quarterly profit slides 39 percent amid shipment woes

TAIPEI (Reuters) - Taiwan's Foxconn , the world's largest contract electronics manufacturer and a major Apple supplier , posted a 39 percent drop in third-quarter earnings due to later-than-expected product shipments.

businessNews reuters.com

Asian stocks slip as oil woes sap sentiment, euro stands tall

TOKYO (Reuters) - Asian stocks slipped on Wednesday after weaker crude oil prices took a toll on Wall Street, while the euro kept big gains after enjoying a boost from robust German economic growth.

businessNews reuters.com

Firefox opts for Google as default search in U.S., surprising Yahoo

SAN FRANCISCO (Reuters) - Alphabet Inc's Google reclaimed on Tuesday its spot as the default search engine on Mozilla Corp's Firefox Internet browser in the United States and other regions as the browser maker stunned Verizon Communication Inc's Yahoo by canceling their deal.

businessNews reuters.com

Wells Fargo repays $5.4 million for repossessing service members' cars

(Reuters) - Wells Fargo & Co has repaid another $5.4 million to about 450 military service members whose vehicles it repossessed illegally, the U.S. Department of Justice said on Tuesday.

businessNews reuters.com

Buffett's Berkshire slashes IBM stake, adds to Apple

NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc has sold another large piece of its stake in IBM Corp , backing further away from an investment that the billionaire has admitted was not one of his best.

businessNews reuters.com

Fund managers clash over Snap shares

NEW YORK (Reuters) - Fund managers expressed sharply contradicting views on Snap Inc during the social media company's challenged third quarter, regulatory filings showed on Tuesday.