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Alibaba, Tencent rally troops amid $10 billion retail battle

SHANGHAI (Reuters) - China's tech giants Alibaba Group Holding Ltd and Tencent Holdings Ltd , worth a combined $1 trillion, are on a retail investment binge, forcing merchants to choose sides amid a battle for shoppers' digital wallets.

businessNews reuters.com

South Korea's Moon bemoans GM plant closure move, calls on government to help workers

SEOUL (Reuters) - South Korean President Moon Jae-in said on Monday General Motors Co's (GM) decision to shut down a factory south of Seoul will hurt that region, and called upon his administration to take measures to boost economic activity there.

sportsNews reuters.com

Ice hockey: Unified Korean team could be Beijing-bound

GANGNEUNG, South Korea (Reuters) - The prospect of seeing a unified Korean women's ice hockey team return to action at the 2022 Winter Olympics would be welcomed by International Ice Hockey Federation (IIHF), who believe it would keep alive the message of peace and hope.

businessNews reuters.com

India's federal investigators close bank branch at heart of fraud

MUMBAI/NEW DELHI (Reuters) - Indian investigators closed down a branch of a state-run bank that is at the heart of a $1.77 billion fraud and questioned more of its employees as they probed the biggest scam in the country's banking history, police sources said on Monday.

businessNews reuters.com

Asian shares extend global recovery as volatility subsides

TOKYO (Reuters) - Asian shares gained on Monday, joining a global recovery for equity markets as sentiment improved gradually from a recent shakeout that was sparked by fears of creeping inflation and higher borrowing costs.

topNews reuters.com

Carnival probes security personnel's response to brawl in South Pacific cruise

SYDNEY (Reuters) - Carnival Corp , the world's largest cruise operator, said on Monday it was investigating the response of its security personnel to a brawl that broke out on one of its South Pacific cruises that resulted in 23 passengers being removed.

businessNews reuters.com

India's federal investigator seals PNB branch at heart of fraud: state TV

NEW DELHI (Reuters) - India's federal police has sealed the Mumbai branch of Punjab National Bank at the center of a $1.77 billion loan fraud involving billionaire jeweler Nirav Modi, state television said on Monday.

sportsNews reuters.com

Russian team in shock over Games doping scandal

GANGNEUNG, South Korea (Reuters) - A Russian Olympic medalist has left the Pyeongchang Winter Games on suspicion of doping, a team official said on Monday, in a scandal that has shocked his teammates and could imperil Russia's efforts to regain full Olympic status.

businessNews reuters.com

For timing of Aramco IPO, watch forward oil price curve

LONDON (Reuters) - It's the burning question in the oil industry: when will Saudi Arabia pull the trigger on the Aramco stock market listing?

businessNews reuters.com

Asian shares extend global recovery, volatility subsides

TOKYO (Reuters) - Asian shares ticked up on Monday, joining a global recovery for equity markets as sentiment improved gradually from a recent shakeout that stemmed from fears of creeping inflation and higher borrowing costs.

cnn.com

The South Korean training ground for assassins

CNN's Ivan Watson gets an inside look at Silmido Island in South Korea, which was used as a training ground for assassins.

businessNews reuters.com

Lego builds foundations in China classrooms as old markets slow

BEIJING/SHANGHAI (Reuters) - Danish toymaker Lego is hoping to build a following with Chinese parents by promoting its place in the classroom as well as the toy box.

businessNews reuters.com

Eyes wide shut: the $1.8 billion Indian bank fraud that went unnoticed

By Krishna N. Das, Aditya Kalra, Devidutta Tripathy and Tom Lasseter

businessNews reuters.com

Japan's Mizuho sees pickup in U.S. M&A lending after tax cut

TOKYO (Reuters) - Japan's Mizuho Financial Group Inc sees a pickup in overseas lending after a slowdown last year in the United States, where a recently enacted corporate tax cut is widely expected to spur mergers and acquisitions (M&As).

businessNews reuters.com

Chanel, Farfetch pair up for digital push at fashion label's stores

PARIS (Reuters) - French couture house Chanel has taken a minority stake in London-based online retailer Farfetch, the companies said on Monday, as part of a tie-up to develop digital services such as chats to connect the label's clients with store assistants.

businessNews reuters.com

Japan's Mizuho sees pickup in US M&A lending after tax cut

TOKYO (Reuters) - Japan's Mizuho Financial Group Inc sees a pickup in overseas lending after a slowdown last year in the United States, where a recently enacted corporate tax cut is widely expected to spur mergers and acquisitions (M&As).

businessNews reuters.com

Jittery U.S. bond market braces for supply wave

NEW YORK (Reuters) - Bond investors, who have been on edge over signs of growing inflation and a possibly more aggressive Federal Reserve, will have their work cut out for them as the U.S. government seeks to sell $258 billion worth of debt this coming week.

cnn.com

Sen. apologizes to former staffer's ex-wives

The ex-wives of Rob Porter, a White House aide who recently resigned over domestic abuse allegations, say they have received letters of apology from Porter's old boss, Republican Sen. Orrin Hatch of Utah, who previously defended his former staffer as a "decent man."

businessNews reuters.com

In boost to reform, Saudi Arabia's cabinet approves bankruptcy law

DUBAI/KHOBAR, Saudi Arabia (Reuters) - Saudi Arabia's cabinet has approved a bankruptcy law, sources familiar with the matter said on Sunday, giving a boost to efforts to make the kingdom more enticing to investors.

businessNews reuters.com

Billion dollar diamond fraud case puts India's state banks in focus

By Krishna N. Das, Aditya Kalra, Devidutta Tripathy and Tom Lasseter

businessNews reuters.com

India's Reliance, global tech firms to invest $9.3 billion in industrial area

MUMBAI (Reuters) - India's Reliance Industries Ltd and global technology companies will invest 600 billion rupees ($9.34 billion) over 10 years to set up an integrated industrial area in the western state of Maharashtra, the company's chairman Mukesh Ambani said.

sportsNews reuters.com

Ice hockey: Canadian men beat South Korea 4-0 and get bye to quarters

GANGNEUNG, South Korea (Reuters) - Canada's men's ice hockey team beat South Korea 4-0 on Sunday to secure a bye into the quarter-finals of the Olympic tournament.

businessNews reuters.com

Software may have helped Daimler pass U.S. emissions tests: report

BERLIN (Reuters) - U.S. investigators probing Mercedes maker Daimler have found that its cars were equipped with software which may have help them to pass diesel emissions tests, a German newspaper reported on Sunday, citing confidential documents.

worldNews reuters.com

Australia's PM in damage control as scandal undermines deputy

SYDNEY (Reuters) - Australian Prime Minister Malcolm Turnbull brushed aside suggestions of a rift in his coalition government on Sunday, saying there were "no issues" between the Liberal and National parties in the wake of a sex scandal that has swamped Deputy Prime Minister Barnaby Joyce.

sportsNews reuters.com

South Korea's Ko wins Women's Australian Open wire-to-wire

(Reuters) - Ko Jin-young ignored persistent screeching by a flock of sulphur-crested cockatoos on Sunday to record an emphatic wire-to-wire victory at the Handa Women's Australian Open in Adelaide.

sportsNews reuters.com

NBA's Africa Game returns to South Africa in August

(Reuters) - NBA players will return to South Africa in August to participate in the third NBA Africa Game, officials said on Saturday.

businessNews reuters.com

Proxy advisory firm ISS says Qualcomm should negotiate sale to Broadcom

(Reuters) - U.S. semiconductor company Qualcomm Inc should try to negotiate a sale to Broadcom Ltd following the latter's sweetened $121 billion offer, proxy advisory firm Institutional Shareholder Services Inc (ISS) said.

businessNews reuters.com

Judge approves Takata's U.S. bankruptcy plan

WILMINGTON, Del. (Reuters) - Takata Corp's U.S. unit received court approval for its bankruptcy exit plan, a plaintiffs' law firm said on Saturday, clearing the way for a $1.6 billion sale of Takata assets and providing compensation for those injured by the company's deadly air bags.

Politics and Government nytimes.com

As Ramaphosa Hails a ‘New Dawn,’ South Africans See More of the Same

Few in Soweto township expect change now that Cyril Ramaphosa is president. But none can imagine voting against the African National Congress.

businessNews reuters.com

Exclusive: Indian banks may take more than $3 billion hit from PNB fraud - tax department

NEW DELHI (Reuters) - Indian banks could take a hit of more than $3 billion from loans and corporate guarantees provided to diamond companies at the center of a massive alleged fraud at the state-run Punjab National Bank, the tax department has estimated.

environmentNews reuters.com

Small earthquake felt in Wales, southern England

LONDON (Reuters) - An earthquake of magnitude 4.4 struck Britain on Saturday, the British Geological Survey (BGS) said on Saturday, with tremors felt across parts of Wales and southwest England.

entertainmentNews reuters.com

South Korean filmmaker hopeful Olympics will improve ties with North

BERLIN (Reuters) - South Korean filmmaker Kim Ki-duk said on Saturday he hoped for an improvement in relations between North and South Korea given both countries were taking part in the Olympics on the southern part of the peninsula.

cnn.com

South Korea puts brakes on hopes for quick talks with North

South Korean President Moon Jae-in said Saturday it was too early to talk about hosting a summit with North Korean leader Kim Jong Un, hinting he would not rush the matter.

sportsNews reuters.com

South Korea official floats idea of co-hosting Asian Games with North

PYEONGCHANG, South Korea (Reuters) - A South Korean province is considering a proposal to co-host the 2021 Asian Winter Games with North Korea in a bid to strengthen inter-Korean ties, South Korea's Yonhap News Agency said on Saturday, quoting provincial governor Choi Moon-soon.

sportsNews reuters.com

South Korea province considers plan to host Asia games with North Korea: Yonhap

PYEONGCHANG, South Korea (Reuters) - A South Korean province is considering a proposal to co-host the 2021 Asian Winter Games with North Korea in a bid to strengthen inter-Korean ties, South Korea's Yonhap News Agency said on Saturday, quoting provincial governor Choi Moon-soon.

cnn.com

Friend of shooter: I could have stopped it

Allan Varela, a 20-year-old friend of the Florida school shooter, speaks to CNN's Gary Tuchman about his relationship with Nikolas Cruz.

cnn.com

7.2 earthquake jolts southern Mexico

A magnitude 7.5 earthquake struck southeastern Mexico on Friday night, with the epicenter in the state of Oaxaca, the US Geological Survey reported. An earthquake alert was issued in Mexico City and buildings were evacuated there, CNN's Leyla Santiago said. No reports on injuries or damage were immediately available.

businessNews reuters.com

Stock volatility: back with a bang and here to stay

NEW YORK (Reuters) - U.S. stock markets are unlikely to return to the unusually calm conditions seen last year, even though equities have already recovered more than half the ground lost in the recent selloff and traders have rapidly dialed down fear.

businessNews reuters.com

ADM, Syngenta settle lawsuit over biotech corn exports to China

CHICAGO (Reuters) - U.S. grain merchant Archer Daniels Midland Co has settled a lawsuit with Syngenta over the seed company's launch of a biotech corn strain that roiled grain exports to China, according to regulatory documents filed on Friday.

businessNews reuters.com

Exclusive: GE exploring industrial gas engine business sale - sources

(Reuters) - General Electric Co is exploring a sale of its industrial gas engine business that could be worth as much as $2 billion, according to people familiar with the matter.

businessNews reuters.com

U.S. seeks to block AT&T from citing Trump opposition in merger lawsuit

WASHINGTON (Reuters) - The U.S. Department of Justice on Friday moved to prevent AT&T Inc from arguing that politics played a role in the government's decision to stop its merger with Time Warner Inc , a deal that President Donald Trump had publicly criticized.

domesticNews reuters.com

South Carolina teen who fatally shot two charged as adult

CHARLESTON, S.C. (Reuters) - A 15-year-old accused of killing his father and driving to a South Carolina elementary school playground in 2016 where he opened fire and fatally wounded a 6-year-old student, will be tried as an adult, a South Carolina judge ruled on Friday.

politicsNews reuters.com

Former U.S. presidential candidate Romney announces Utah Senate bid

WASHINGTON (Reuters) - Former Republican presidential candidate Mitt Romney, a frequent critic of President Donald Trump, announced on Friday he would run for a U.S. Senate seat in Utah, confirming months of speculation about a return to national politics.

cnn.com

Kelly changes security clearance process in wake of Porter scandal

White House chief of staff John Kelly, under fire over the White House's handling of domestic abuse allegations against a senior aide, ordered an overhaul of the security clearance process for current and incoming top administration officials.

businessNews reuters.com

S&P 500 caps off strongest week in five years

NEW YORK (Reuters) - The S&P 500 ended marginally higher on Friday and closed out its fastest-climbing week since 2013, although it surrendered most of its earlier gain for the day after a U.S. grand jury indicted several Russians for meddling in the 2016 presidential election.

politicsNews reuters.com

White House's Kelly tightens security clearance procedures post-scandal

WASHINGTON (Reuters) - White House Chief of Staff John Kelly, under pressure to act, strengthened the process for security clearances for President Donald Trump's aides on Friday in response to a scandal involving a former official accused of domestic abuse by two ex-wives.

businessNews reuters.com

Tesla delays, tax credit concerns spur sales of Chevy Bolts

SAN FRANCISCO (Reuters) - Some potential buyers of Tesla's long-delayed Model 3 sedan are concerned that they will miss out on big federal tax breaks and are looking for alternatives, including General Motors Co's Chevrolet Bolt, according to postings by would-be Tesla buyers on websites and interviews with GM dealers.

businessNews reuters.com

Qualcomm says open to more deal talks with Broadcom following meeting

(Reuters) - Qualcomm Inc on Friday called a meeting with Broadcom Ltd to discuss the latter's $121 billion bid constructive and opened the door to more talks, but continued to reject the proposed deal between the semiconductor companies.

cnn.com

Melania Trump arrives solo at air base amid second affair scandal

First lady Melania Trump eschewed the traditional South Lawn couple's walk to Marine One on Friday amid another adultery allegation scandal, opting instead to drive separately ahead of President Donald Trump.

businessNews reuters.com

Airbus concerned about German coalition's tougher stance on arm sales

MUNICH (Reuters) - The head of Airbus's defense unit criticized Germany on Friday for not spending more on defense and said the new coalition agreement's call for a tougher approach to arms exports could prompt the weapons maker to re-examine its business plans.

worldNews reuters.com

South Africa's Ramaphosa hails 'new dawn', warns of tough decisions

CAPE TOWN (Reuters) - South Africa will face "tough decisions" as it works to repair its economy after years of stagnation, new President Cyril Ramaphosa said in a sober address on Friday that sought to draw a line under the turbulent rule of his predecessor Jacob Zuma.

businessNews reuters.com

Uber plans to sell Southeast Asia business to Grab: CNBC

(Reuters) - Uber Technologies [UBER.UL] is preparing to sell its Southeast Asia ride-hailing business to Singapore-based Grab in return for a substantial stake in the company, CNBC reported, citing two sources familiar with the matter.

businessNews reuters.com

Facebook loses Belgian privacy case, faces fine of up to $125 million

BRUSSELS (Reuters) - A Belgian court threatened Facebook on Friday with a fine of up to 100 million euros ($125 million) if it continued to break privacy laws by tracking people on third-party websites.

businessNews reuters.com

GE faces shareholder lawsuit over insurance shortfall, SEC probe

NEW YORK (Reuters) - General Electric Co was sued on Friday by a shareholder who accused the conglomerate of concealing mounting insurance liabilities and a U.S. Securities and Exchange Commission probe, costing shareholders tens of billions of dollars.

companyNews reuters.com

BRIEF-Uber Preparing To Sell Southeast Asia Unit To Grab In Exchange For Stake In Company - CNBC‍​

* UBER IS PREPARING TO SELL SOUTHEAST ASIA UNIT TO GRAB IN EXCHANGE FOR STAKE IN COMPANY - CNBC, CITING SOURCES ‍​ Source text: http://cnb.cx/2BwgfiO Further company coverage:

businessNews reuters.com

Takata has resolved most objections to its U.S. bankruptcy: lawyer

WILMINGTON, Del (Reuters) - A lawyer for Takata Corp's U.S. business, bankrupted by a recall of faulty air bags, indicated on Friday that the company is on the verge of receiving court approval for its reorganization and $1.6 billion sale of its non-air bag businesses.

businessNews reuters.com

Intel hit with 32 lawsuits over security flaws

(Reuters) - Intel Corp said on Friday shareholders and customers had filed 32 class action lawsuits against the company in connection with recently-disclosed security flaws in its microchips.

businessNews reuters.com

Wall Street on course for sixth day of gains

(Reuters) - U.S. stocks rose on Friday, led by gains in technology and healthcare stocks, putting the main indexes on course for strong weekly gains as they bounced back from a brutal selloff earlier this month.

businessNews reuters.com

Starbucks executive Brotman who led mobile efforts leaving for J. Crew

LOS ANGELES (Reuters) - Starbucks Corp said on Friday that Adam Brotman, who spearheaded the coffee shop chain's successful digital initiatives including mobile ordering and its loyalty program, is leaving for an executive position at J. Crew.

businessNews reuters.com

Coca-Cola sales beat on strong sales of vitamin water, coffee

(Reuters) - Coca-Cola Co reported better-than-expected quarterly profit and sales on Friday as it sold more teas, coffees and vitamin water, offsetting sluggish sales of fizzy drinks, sending its shares up as much as 2 percent.

Olympic Games (2018) nytimes.com

Seeing Bounty Abroad, Will North Koreans Change Their Homeland?

At the Olympics, curious onlookers scrutinize visitors from the isolated North and wonder what a peek at a broader world could achieve.

businessNews reuters.com

Citigroup raises CEO Corbat's pay 48 percent to $23 million

NEW YORK (Reuters) - Citigroup Inc raised Chief Executive Officer Michael Corbat's annual compensation by 48 percent to $23 million for 2017, a year in which the bank made more money from operations but still fell short of earlier targets.

businessNews reuters.com

Qualcomm says open to talks with Broadcom for better offer

(Reuters) - Qualcomm Inc is open to discussing a buyout offer from Broadcom Ltd that "reflects the true value" of the chipmaker and better addresses its concerns about potential regulatory hurdles to a deal, the company said on Friday.

politicsNews reuters.com

Former presidential candidate Romney announces Utah Senate bid

WASHINGTON (Reuters) - Former Republican presidential candidate Mitt Romney announced on Friday he would run for a U.S. Senate seat in Utah, confirming months of speculation that he would return to national politics.

businessNews reuters.com

Fiat Chrysler to recall 228,508 trucks to fix shifter issue

(Reuters) - Fiat Chrysler Automobiles NV's U.S. unit said on Friday it would recall about 228,508 trucks in the United States, Canada, Mexico and some other markets to prevent drivers from unintentionally shifting their vehicles out of "park."

businessNews reuters.com

Uber introduces new safety features as it fights to retain London license

LONDON (Reuters) - Taxi service Uber [UBER.L], battling to retain its license to operate in the British capital, said on Friday it would introduce new safety features, including 24-hour telephone support for riders and drivers.

businessNews reuters.com

Futures rise, setting stocks on firm ground for the week

(Reuters) - U.S. stock futures rose on Friday, set to build on a rally that has lasted five straight days as investors shrug off inflation fears and focus on growth in the economy and corporate profits.

businessNews reuters.com

Campbell Soup organic sales fall as customer dispute continues

(Reuters) - Campbell Soup Co on Friday reported a 2 percent drop in organic net sales in its second quarter as a key customer in North America placed fewer orders for its canned soups.

businessNews reuters.com

Backstory: Warren Buffett's Valentine's Day surprise for investors

NEW YORK (Reuters) - Warren Buffett had a Valentine’s Day surprise for investors in Teva Pharmaceutical Industries Ltd .   

businessNews reuters.com

Coca-Cola sales beat as consumers drink more vitamin water, coffee

(Reuters) - Coca-Cola Co reported better-than-expected quarterly profit and sales on Friday as it sold more teas, coffees and vitamin water, sending its shares up 2.4 percent.

businessNews reuters.com

Kraft Heinz quarterly profit, sales miss estimates

(Reuters) - Kraft Heinz Co's quarterly profit and sales missed analysts' estimates on Friday, hurt by lower shipments for nuts, natural cheese and cold cuts in the U.S.

businessNews reuters.com

Wynn Resorts says ex-CEO Steve Wynn not entitled to severance pay

(Reuters) - Wynn Resorts Ltd said on Friday that former Chief Executive Officer Steve Wynn was not entitled to severance payments or any other compensation.

businessNews reuters.com

Lost in translation? GM plant shutdown shocks South Korea

SEOUL (Reuters) - Only weeks into a new job heading General Motors Co's international operations, Barry Engle flew into a frigid South Korea in January and held a series of meetings with government officials to discuss the future of GM's loss-making local unit.

companyNews reuters.com

INSIGHT-Lost in translation? GM plant shutdown shocks South Korea

* GM's plant closure "shock and surprise" - S.Korean officials

worldNews reuters.com

Japan opposition lawmakers look to pressure PM over school scandal

TOKYO (Reuters) - Japanese opposition lawmakers on Friday urged a former finance official to testify in parliament about a suspected cronyism scandal that could pose a risk to Prime Minister Shinzo Abe's support and hurt his push to revise the pacifist constitution.

topNews reuters.com

South Africa's Ramaphosa set to outline priorities in key speech

JOHANNESBURG (Reuters) - South Africa's new president, Cyril Ramaphosa, is expected to give more details about how he plans to tackle corruption and boost economic growth on Friday, when he delivers his first state of the nation address.

businessNews reuters.com

Exclusive: Walmart in talks to buy more than 40 percent of India's Flipkart - sources

MUMBAI (Reuters) - Walmart Inc is in talks to purchase a stake of more than 40 percent in Indian e-commerce firm Flipkart, a direct challenge to Amazon.com Inc in Asia's third-largest economy, two sources familiar with the matter said on Friday.

worldNews reuters.com

Sex scandal exposes faultlines in Australia coalition

SYDNEY (Reuters) - A major rift opened up in Australia's fragile ruling coalition on Friday as Deputy Prime Minister Barnaby Joyce refused to quit over an affair with a staff member and derided Prime Minister Malcolm Turnbull's condemnation of his behavior as "inept".

businessNews reuters.com

Audi chairman says reports about ouster of CEO Stadler are false

BERLIN (Reuters) - Audi Chairman Matthias Mueller said on Friday that reports about an imminent ouster of Chief Executive Rupert Stadler are false.

businessNews reuters.com

As mining investors push caution, Glencore differs from rivals

TORONTO/MELBOURNE (Reuters) - As shareholders push the world's cash-rich miners to maintain lush dividends and make the most of existing assets, Glencore is taking a slightly different tactic that positions it for shrewd acquisitions.

businessNews reuters.com

Pot Pharm: Booming Canada weed sector plots next-wave medicines

TORONTO (Reuters) - Canopy Growth Corp, one of the world's biggest medical marijuana producers, now wants to take on the world's pharmaceutical giants.

businessNews reuters.com

Dashed hopes for Mexico oil boom leave Gulf Coast hotels idle

MEXICO CITY (Reuters) - When a Mexican real estate investment trust bought four hotels along the country's Gulf coast operating under the Marriott, Quality Inn and Fiesta Inn brands, it expected the government's recent energy reform to attract droves of oil executives, engineers and technicians.

businessNews reuters.com

Hackers stole $6 million in attack on SWIFT system, Russian central bank says

MAGNITOGORSK, Russia (Reuters) - Unknown hackers stole 339.5 million rubles ($6 million) in an attack on the SWIFT international payments messaging system in Russia last year, the Russian central bank said on Friday.

nytimes.com

Europe Edition: Florida, Kosovo, South Africa: Your Friday Briefing

Here’s what you need to know to start your day.

businessNews reuters.com

Asian shares extend bounce to fifth day, dollar sags to three-year low

TOKYO (Reuters) - Asian shares rose for a fifth straight day on Friday as investor confidence slowly returns after a sharp sell-off earlier in the month, but the dollar continued its descent, hitting a three-year low against a basket of major currencies.

domesticNews reuters.com

Former NY City teacher, brother charged with attempted bomb-making

(Reuters) - A former New York City high school teacher and his brother were arrested on Thursday and charged with attempting to build an explosive device after an investigation by the FBI, according to authorities.

businessNews reuters.com

Asian shares extend recovery into fifth day, dollar weak

TOKYO (Reuters) - Asian shares extended their recovery from two-month lows into a fifth day on Friday as the Wall Street market volatility gauge fell, while the U.S. dollar was undermined by various worries including rising inflation.

businessNews reuters.com

SEC blocks Chicago Stock Exchange sale to China-based investors

(Reuters) - U.S. regulators on Thursday rejected the sale of the Chicago Stock Exchange (CHX) to a group led by China-based investors, in part because they were unable to get enough information on some of the proposed buyers and the sources of their funds.

Politics and Government nytimes.com

South Africa Sees Fresh Start for Economy, With the Same Challenges

Jacob Zuma’s ouster as president is raising hopes of better fortunes for the nation’s moribund economy, but it will not happen easily.

businessNews reuters.com

Volatility holds key to bank revenue revival from 2017 slump: survey

LONDON (Reuters) - Revenues at the world's 12 biggest investment banks fell to their lowest levels since 2008 last year, a survey showed on Friday, while a return to more volatile global markets in 2018 could be a mixed blessing for their business.

businessNews reuters.com

GE moves to sell part of overseas lighting business

(Reuters) - U.S. industrial conglomerate General Electric has reached a deal to sell parts of its overseas lighting business to a company controlled by former executive Joerg Bauer for an undisclosed amount.

businessNews reuters.com

CBS tops estimates as licensing business grows

(Reuters) - CBS Corp topped Wall Street's quarterly revenue and profit estimates on Thursday as U.S. and international distributors licensed more of its shows.

businessNews reuters.com

Kraft Heinz meets cost-cut target of $1.7 billion by 2017 end

(Reuters) - U.S. food and beverage company Kraft Heinz Co had achieved the target of cutting $1.7 billion in costs by the end of 2017, the company said in a presentation on Thursday.

cnn.com

Josh Gad mourns friend's son killed in FL shooting

Actor Josh Gad is vowing to take action after one of his friend's children was killed in the Florida high school shooting that left 17 people dead on Wednesday.

businessNews reuters.com

CBS tops estimates on strong licensing revenue

(Reuters) - Media company CBS Corp CBS.N, which is exploring a merger with Viacom Inc , topped quarterly revenue and profit estimates on Thursday, driven by strong growth in domestic and international licensing sales.

businessNews reuters.com

Bitcoin rises above $10,000, strategist sees new high by July

NEW YORK (Reuters) - Bitcoin rose above $10,000 on Thursday for the first time in more than two weeks, as investors bought back the digital currency after having fallen 70 percent from its all-time peak hit in mid-December.

Olympic Games (2018) nytimes.com

Most North Koreans Can’t Actually Watch the Olympic Games

The government isn’t eager to remind them that South Korea is prosperous enough to be able to host the games.

businessNews reuters.com

Amazon to pay $1.2 million in settlement over pesticide sales, U.S. says

WASHINGTON (Reuters) - Amazon.com Inc will pay a $1.2 million penalty to settle nearly 4,000 alleged violations of U.S. law in a move to prevent harmful exposure to pesticides through illegal sales, the U.S. Environmental Protection Agency said on Thursday.

businessNews reuters.com

Roche to buy Flatiron Health for $1.9 billion to expand cancer care portfolio

(Reuters) - Swiss drugmaker Roche Holding AG said on Thursday it would buy the rest of the privately held U.S. cancer data company Flatiron Health Inc for $1.9 billion to speed up development and delivery of breakthrough medicines for cancer patients.

businessNews reuters.com

Wall St. rallies for fifth straight session on tech lift

(Reuters) - Wall Street surged on Thursday to notch its fifth straight session of gains, led by Apple and other technology stocks as investors shrugged off recent inflation worries that sent the market into a sell-off at the start of the month.

nytimes.com

Asia and Australia edition: Florida Shooting, South Africa, Olympics: Your Friday Briefing

Here’s what you need to know to start your day.

cnn.com

Ex-wife's photos raise questions about McGahn's role in Porter scandal

The FBI obtained photos of the bruised face of Colbie Holderness seven days after President Donald Trump's inauguration last year, according to emails obtained by CNN, raising questions about what information White House counsel Don McGahn had at his disposal regarding her ex-husband, Rob Porter.

businessNews reuters.com

Boeing CEO says 'getting closer' to a deal with Embraer: CNBC

(Reuters) - Boeing Co is "getting closer" to a deal with Brazilian aircraft maker Embraer , the U.S. plane maker's Chief Executive Officer Dennis Muilenburg said in an interview with CNBC television on Thursday.

cnn.com

Trump inaugural committee pays $26 million to firm founded by first lady's friend

A firm founded by a senior adviser to first lady Melania Trump was paid close to $26 million to plan events around President Donald Trump's first inauguration, tax documents provided to CNN revealed Thursday.

businessNews reuters.com

Boeing stays in race to supply Canada with fighter jets: sources

OTTAWA (Reuters) - Boeing Co , locked in a trade dispute with the Canadian government, has applied to stay in the race to supply Canada with 88 new fighter jets, three well-placed sources said on Thursday.

businessNews reuters.com

Caterpillar expects no material impact of tax case on finances

(Reuters) - Caterpillar Inc said on Thursday it was vigorously contesting the $2.3 billion tax and penalties for certain years proposed by the U.S. Internal Revenue Service and that the case would not have a material impact on its finances and operations.

businessNews reuters.com

U.S. Bancorp to pay $613 million for money-laundering violations

WASHINGTON (Reuters) - The U.S. Justice Department has reached a $613 million settlement with U.S. Bancorp over charges that it willfully failed to have an adequate anti-money-laundering program, the department said on Thursday.

Race and Ethnicity nytimes.com

Op-Ed Contributor: Jacob Zuma and the Legacy of Race in South Africa

He governed as a man distorted by the violence and oppression of white supremacy.

businessNews reuters.com

U.S. producer prices rise in January; industrial output falls

WASHINGTON (Reuters) - U.S. producer prices accelerated in January, boosted by strong gains in the cost of gasoline and healthcare, offering more evidence that inflation pressures were building up.

businessNews reuters.com

Thousands of FedEx customer records exposed by unsecured server

(Reuters) - Global package delivery company FedEx Corp said on Thursday it has secured some of the customer identification records that were visible earlier this month on an unsecured server, and so far has found no evidence that private data was "misappropriated."

businessNews reuters.com

U.S. watchdog to probe chairman's decisions in broadcast deal: Democrat

WASHINGTON (Reuters) - The Federal Communications Commission inspector general will investigate whether its chairman was biased in favor of Sinclair Broadcast Group Inc , which is seeking approval from the watchdog for a $3.9 billion acquisition of Tribune Media Co , a member of Congress said on Thursday.

sportsNews reuters.com

Golf: Twin caddies steal the show as Southgate, Siem shoot aces

(Reuters) - A pair of twin brothers stole the limelight as caddies at the Oman Open on Thursday, playing a part as England's Matthew Southgate and Germany's Marcel Siem both shot holes-in-one.

businessNews reuters.com

Cohen's Point72 wants lawsuit over hostility to women sent to arbitration

NEW YORK (Reuters) - Billionaire investor Steven A. Cohen asked a U.S. judge to force a female executive to arbitrate her claims that his firm, Point72 Asset Management LP, maintains a hostile working environment where women are mistreated and paid less than men.

businessNews reuters.com

Thomson Reuters chair sought better terms for financial unit: WSJ

TORONTO (Reuters) - Thomson Reuters Corp Chairman David Thomson urged the company's board of directors to seek better terms for its $17 billion sale of a large chunk of its business to Blackstone Group LP , the Wall Street Journal reported on Thursday, citing people close to the deal.

businessNews reuters.com

Wall Street climbs as tech, industrial gain; energy drags

(Reuters) - Wall Street's main indexes were trading higher on Thursday with gains in technology and industrial stocks more than offsetting losses in energy stocks.

sportsNews reuters.com

Ice hockey: South Korean men fall to Czechs on Games debut

GANGNEUNG, South Korea (Reuters) - The Czech Republic men's ice hockey team edged out South Korea 2-1 on Thursday but had to come from behind against an impressive Olympic debut performance by the host country.

topNews reuters.com

Ramaphosa elected president of South Africa, vows anti-corruption fight

CAPE TOWN (Reuters) - Cyril Ramaphosa was elected as South Africa's president in a parliamentary vote on Thursday and pledged to tackle endemic corruption after scandal-ridden Jacob Zuma resigned on orders from the ruling African National Congress.

businessNews reuters.com

Bombardier CEO calls U.S. trade agency reasoning 'good news'

MONTREAL (Reuters) - Bombardier Inc Chief Executive Alain Bellemare on Thursday described a U.S. trade agency's explanation for why it rejected hefty duties on the company's CSeries jet sales to American carriers as very "good news."

topNews reuters.com

Ramaphosa elected president of South Africa

CAPE TOWN (Reuters) - Cyril Ramaphosa was elected as South Africa's president in a parliamentary vote on Thursday after scandal-ridden Jacob Zuma reluctantly resigned on orders from the ruling African National Congress.

businessNews reuters.com

Gasoline, healthcare lift U.S. producer prices in January

WASHINGTON(Reuters) - U.S. producer prices accelerated in January, boosted by strong gains in the cost of gasoline and healthcare, offering more evidence that inflation pressures were building up.

businessNews reuters.com

U.S. weekly jobless claims rebound from near 45-year lows

WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits rebounded from a near 45-year low last week, but remained below a level that is associated with a tightening labor market.

businessNews reuters.com

XPO Logistics expects 750,000 European home deliveries for 2018

SEATTLE (Reuters) - XPO Logistics Inc said on Thursday it expects to make or manage 750,000 deliveries of bulky goods like flat-screen televisions and furniture to homes in Europe in 2018, as the U.S.-based company dips its toe into a crowded and fast-growing market.

worldNews reuters.com

Wily negotiator Ramaphosa takes South Africa's top job

JOHANNESBURG (Reuters) - After weeks of tortuous discussions to convince scandal-plagued Jacob Zuma to step down as head of state, South Africa's great negotiator, Cyril Ramaphosa, has fulfilled his long-held ambition to lead the country.

businessNews reuters.com

Hedge fund Bridgewater makes $22 billion bet against European firms

LONDON/FRANKFURT/NEW YORK (Reuters) - Bridgewater has shown its hand in Europe with a $22 billion bet against some of the continent's biggest companies, filings reviewed by Reuters show, part of a bigger shift by the world's largest hedge fund manager.

cnn.com

Mandela's chosen one gets his turn as South Africa's president

It was the moment Cyril Ramaphosa wanted in 1999. The former anti-apartheid activist was Nelson Mandela's favorite to succeed him as leader of the African National Congress and South African president, but the party overlooked him in a crushing blow to his political ambitions.

businessNews reuters.com

VW looks at Apple for electric-car design guidance

BERLIN (Reuters) - Volkswagen is looking at Apple products for guidance on how to style its new generation of electric cars, its top designer said, as the automaker aims to turn profits on battery-powered vehicles when they launch in 2020.

businessNews reuters.com

Futures roll higher, brushing aside inflation worries

(Reuters) - Wall Street was set to open higher on Thursday, reclaiming further ground ceded during last week's sell-off, as investors brushed aside inflation data and preferred stocks over bonds for the fifth day in a row.

sportsNews reuters.com

Ice Hockey: South Korean men score first goal of Games

GANGNEUNG, South Korea (Reuters) - It took the unified Korean women's ice hockey team 149 minutes and 31 seconds of playing time to get their first Olympic goal. South Korea's men's hockey team needed only 7 minutes and 34 seconds to do it.

sportsNews reuters.com

North Korean athletes, a diplomatic bargain at $2,300 each

PYEONGCHANG, South Korea (Reuters) - How much is a North Korean athlete worth?

Ramaphosa, Cyril nytimes.com

An Elite South African Who Vows to Fight for the Ordinary Citizen

Cyril Ramaphosa was a protégé of Nelson Mandela before becoming one of South Africa’s richest men. As president, he vows to address gaping inequality.

sportsNews reuters.com

North Korean cheerleaders appear at South Korean men's game

GANGNEUNG, South Korea (Reuters) - North Korea's cheerleading squad made an unexpected appearance at the South Korean men's hockey game against the Czech Republic on Thursday, marking their first attendance at an Olympic event not featuring a North Korean athlete.

United States Politics and Government nytimes.com

Op-Ed Columnist: Scandal-Ridden Scoundrel

This is the politics of the petty, where people dance and shout as the republic burns.

cnn.com

South Africa's parliament to elect a new President

South Africa's parliament is expected to meet Thursday to elect a new President after Jacob Zuma's late night resignation ended a protracted campaign to push him from office.

topNews reuters.com

South Africa starts walk back to post-Zuma rehabilitation

JOHANNESBURG (Reuters) - South Africans awoke to a nation without Jacob Zuma as president for the first time in nine years on Thursday, after the scandal-plagued head of state reluctantly resigned on orders from the ruling African National Congress (ANC).

worldNews reuters.com

Moon's chief of staff takes center stage in inter-Korean detente

SEOUL (Reuters) - In 1989, a 22-year-old South Korean student caused an uproar when she sneaked into North Korea and was filmed advocating for unification and meeting then leader Kim Il Sung.

businessNews reuters.com

Fresh A400M charge clouds strong Airbus 2017 profits

PARIS (Reuters) - Airbus took a 1.3 billion euro ($1.6 billion) hit on its delayed A400M military transport plane, lifting charges on Europe's troubled defense project above 8 billion euros and clouding higher than expected underlying profits and cash.

businessNews reuters.com

McDonald's plays 'hide the cheeseburger' in new Happy Meal health push

LOS ANGELES (Reuters) - McDonald's Corp is removing cheeseburgers from U.S. Happy Meal menus and shrinking the french fry serving in one "Mighty Meal" as part of a new global plan to cut calories and make its food for children more healthy.

businessNews reuters.com

A year into OPEC's production cuts, Asia's oil markets have tightened

SINGAPORE (Reuters) - Just over a year into production cuts lead by OPEC and Russia, oil markets in Asia have tightened noticeably as significant amounts of excess crude have been taken off tankers used for storage and delivered to customers across the region.

businessNews reuters.com

Stocks climb despite rise in U.S. inflation; dollar on defensive

TOKYO (Reuters) - Asian stocks rose on Thursday after Wall Street brushed aside strong U.S. inflation data and surged, in a move that also saw the dollar pinned to two-week lows even as Treasury yields jumped in anticipation of more rapid U.S. interest rate hikes.

businessNews reuters.com

Google's app network quietly becomes huge growth engine

SAN FRANCISCO (Reuters) - Google makes ads show up in more smartphone apps than any other technology company. That is the core of a resurgent business for parent Alphabet Inc.

businessNews reuters.com

Airbus takes 1.3 billion euros charge on A400M military plane

PARIS (Reuters) - Airbus on Thursday took a 1.3 billion euros ($1.6 billion) writedown on its A400M military transport plane, lifting cumulative charges on Europe's troubled defense project above 8 billion euros and clouding higher-than-expected underlying profits.

businessNews reuters.com

China's ZTE says is trusted partner after U.S. concern

BEIJING (Reuters) - Chinese telecoms equipment group ZTE Corp hit back on Thursday against concerns from U.S. lawmakers that it is a vehicle for Chinese espionage, saying it was a trusted partner of its U.S. customers, state news agency Xinhua reported.

cnn.com

N. Korean ship spotted likely violating sanctions a third time

A North Korean tanker has likely violated United Nations sanctions for the third time in recent months, according to authorities in Japan.

businessNews reuters.com

Stocks take U.S. inflation spike in stride and rally; dollar on defensive

TOKYO (Reuters) - Asian stocks gained on Thursday after Wall Street brushed aside strong U.S. inflation data and surged, in a move that also saw the dollar pinned at two-week lows even as Treasury yields jumped in anticipation of more rapid U.S. interest rate hikes.

businessNews reuters.com

Amazon says to create 2,000 jobs in France in 2018

PARIS (Reuters) - U.S. online retail giant Amazon said on Thursday it will create 2,000 permanent contract positions this year in France, its largest market in Europe after Britain and Germany.

businessNews reuters.com

For Australian winemakers, Chinese relationships are bearing fruit

HUNTER VALLEY, Australia/SHANGHAI (Reuters) - Wang Zhe, a wealthy Chinese businessman from Guangzhou, liked his glass of decade-old Chardonnay at an Australian winery so much he wanted more.

businessNews reuters.com

Asian stocks rally despite U.S. inflation spike, dollar on defensive

TOKYO (Reuters) - Asian stocks gained on Thursday after Wall Street brushed aside strong U.S. inflation data and surged, a counterintuitive move that also saw the dollar pinned at two-week lows even as Treasury yields jumped in anticipation of a quicker pace of U.S. interest rate hikes.

businessNews reuters.com

U.S. ITC details why it rejected CSeries duties, says Boeing not hurt

MONTREAL/WASHINGTON (Reuters) - An independent U.S. trade body on Wednesday said it rejected hefty U.S. duties on Bombardier's CSeries jets partly because Boeing lost no sales or revenue when Delta Air Lines ordered the aircraft in 2016 from the Canadian planemaker.

businessNews reuters.com

Hedge funds Steadfast and Suvretta jump onto CSX in fourth quarter

BOSTON (Reuters) - Wall Street investors were so convinced that Hunter Harrison could turn around railroad CSX Corp that the company lost $4 billion in market value when the former CEO took a medical leave in December and died only a few days later.

sportsNews reuters.com

Olympics: Skeleton: South Korea's Yun banks on home comforts

PYEONGCHANG, South Korea (Reuters) - South Korean skeleton slider Yun Sung-bin is not getting distracted in his bid to win his country's first gold medal in the men's skeleton at the Pyeongchang Olympics, his team's head coach said on Wednesday.

businessNews reuters.com

Qualcomm meets Broadcom to discuss $121 billion acquisition offer

(Reuters) - Qualcomm Inc said on Wednesday it met with Broadcom Ltd earlier in the day to discuss the latter's revised $121 billion bid, the first time the chipmakers have discussed what would be the technology sector's largest ever acquisition.

businessNews reuters.com

Cisco tops estimates as turnaround takes center stage

(Reuters) - Cisco Systems Inc reported its first rise in quarterly revenue in more than two years and forecast upbeat current-quarter profit, as the network gear maker's years-long efforts to transform into a software-focused company begins to pay off.

topNews reuters.com

Zuma quits, ending scandal-plagued term as South African president

JOHANNESBURG (Reuters) - Jacob Zuma resigned as President of South Africa on Wednesday, reluctantly heeding orders by the ruling African National Congress (ANC) to bring an end to his nine scandal-plagued years in power.

Politics and Government nytimes.com

Editorial: South Africa’s Zuma Leaves Behind a Broken Democracy

Can the party of Nelson Mandela, which has had a near-monopoly on South African politics, cleanse and revive itself?

businessNews reuters.com

Berkshire buys Teva, feels IBM blues as Apple becomes top investment

(Reuters) - Warren Buffett's Berkshire Hathaway Inc on Wednesday disclosed a new stake in generic drugmaker Teva Pharmaceutical Industries Ltd and said it bought more shares of Apple Inc , which surpassed Wells Fargo & Co as its largest common stock investment.

worldNews reuters.com

Egyptian authorities detain former Islamist presidential candidate

CAIRO (Reuters) - Egyptian security forces detained former Islamist presidential candidate Abdel Moneim Abol Fotouh for alleged contacts with the banned Muslim Brotherhood group, state news agency MENA reported on Wednesday.

Politics and Government nytimes.com

Jacob Zuma’s Legacy Is a Weakened South Africa

Jacob Zuma’s legacy includes a series of scandals, increased corruption, few successes and a loss of faith in Nelson Mandela’s party.

businessNews reuters.com

Cisco beats estimates, boosts buyback program by $25 billion

(Reuters) - Cisco Systems Inc reported its first rise in quarterly revenue in more than two years, which also topped analysts' estimates, as the network gear maker's years-long efforts to transition to a software-focused company begins to take hold.

businessNews reuters.com

Berkshire buys Teva, bites more Apple, feels IBM blues

(Reuters) - Warren Buffett's Berkshire Hathaway Inc on Wednesday said it has taken a new stake in Teva Pharmaceutical Industries Ltd , significantly boosted its holdings of Apple Inc and has nearly shed a less successful investment in IBM Corp .

businessNews reuters.com

Marriott quarterly revenue rises 7.7 percent

(Reuters) - Marriott International Inc reported a 7.7 percent rise in fourth-quarter revenue as more people booked its rooms at higher prices, helping the company reaffirm its 2018 forecast for a key performance metric.

cnn.com

South Africa's President resigns

Jacob Zuma is quitting as President of South Africa, finally succumbing to a slew of corruption scandals that have drained support from his ruling African National Congress party.

businessNews reuters.com

What inflation? Apple and Facebook drive Wall Street rally

(Reuters) - Wall Street surged on Wednesday as investors shrugged off stronger-than-expected inflation data and snapped up shares of Facebook, Amazon.com and Apple.

topNews reuters.com

Zuma quits as President of South Africa

JOHANNESBURG (Reuters) - Jacob Zuma resigned as President of South Africa on Wednesday, heeding orders by the ruling African National Congress (ANC) to bring an end to his nine scandal-plagued years in power.

businessNews reuters.com

Charlie Munger urges regulators to ease off Wells Fargo, blasts bitcoin

(Reuters) - Charlie Munger, the longtime business partner of fellow billionaire Warren Buffett, said on Wednesday it is time for regulators to "let up" on Wells Fargo & Co , which will end up "better off" as it corrects a series of mistakes in how it treated banking customers.

South Africa nytimes.com

Jacob Zuma Resigns as South Africa’s President

Cyril Ramaphosa, newly elected as the leader of the African National Congress, is in line to be the next leader of the country.

Olympic Games (2018) nytimes.com

Goals on the Ice and Politics in the Air as Japan Beats Unified Korean Team

In what has been an Olympics rife with geopolitical undertones, the hockey game between Japan and Korea was the most political of all.

worldNews reuters.com

Egypt orders detention of former Islamist presidential candidate

CAIRO (Reuters) - Egypt's public prosecutor ordered the arrest of former Islamist Presidential candidate Abdel Moneim Abol Fotouh for contacts with the banned Muslim Brotherhood group, state television reported on Wednesday.

worldNews reuters.com

Zimbabwe opposition leader Tsvangirai dies in South Africa

HARARE (Reuters) - Zimbabwe opposition leader Morgan Tsvangirai died on Wednesday after a long battle with cancer, casting his Movement for Democratic Change (MDC) party into the unknown less than three months after the army ousted long-time ruler Robert Mugabe.

businessNews reuters.com

More banks joining $14 billion debt for Blackstone's TR unit buy

LONDON (Reuters) - More banks are poised to join a $14 billion financing backing U.S. private equity firm Blackstone Group’s acquisition of a majority stake in the Financial and Risk business of Thomson Reuters Corp , banking sources said on Wednesday.

businessNews reuters.com

Rise in U.S. inflation puts spotlight on Fed's Powell

WASHINGTON (Reuters) - U.S. consumer prices rose more than expected in January as Americans paid more for gasoline, rental accommodation and healthcare, raising pressure on new Federal Reserve chief Jerome Powell to prevent a possible overheating of the economy.

businessNews reuters.com

Airbus names Safran executive as head of helicopter unit

BERLIN (Reuters) - Airbus Group said on Wednesday it has appointed Bruno Even as head of its helicopter division, effective from April 1.

politicsNews reuters.com

Former Republican presidential candidate Romney to run for Senate: source

WASHINGTON (Reuters) - Former Republican presidential candidate Mitt Romney will run for a U.S. Senate seat representing Utah and plans to announce his bid online on Thursday, a source familiar with Romney's plans said.

businessNews reuters.com

U.S. inflation firms broadly in January, puts spotlight on Fed

WASHINGTON (Reuters) - U.S. consumer prices rose more than expected in January, with a measure of underlying inflation posting its biggest gain in a year, strengthening expectations the Federal Reserve will have to quicken the pace of interest rate increases this year.

businessNews reuters.com

Wall Street grinds out gains as investors digest mixed data

(Reuters) - U.S. stocks reversed course to trade marginally higher on Wednesday as investors digested stronger-than-expected inflation data and a surprise drop in January retail sales, which shifted the focus from rising inflation to the prospect of stagflation.

businessNews reuters.com

GE's chief communications officer Deirdre Latour to leave company

(Reuters) - General Electric Co said on Wednesday that its chief communications officer and senior adviser, Deirdre Latour, would be leaving the company in mid-March to pursue other opportunities.

businessNews reuters.com

U.S. regulator warns about Pratt engine shutdown risk on Airbus jets

NEW YORK (Reuters) - New engines made by Pratt & Whitney for the latest Airbus single-aisle jetliner, the A320neo, pose a potential shutdown risk, the U.S. aviation regulator said on Wednesday.

businessNews reuters.com

Exclusive: Russia's En+ invites banks to pitch for $1 billion share sale - sources

LONDON/MOSCOW (Reuters) - Russia's En+ Group has invited international banks to pitch for the sale of $1 billion(721.60 million pounds) of shares in the company that manages the aluminum and hydropower businesses of Russian businessmen Oleg Deripaska, three sources said.

businessNews reuters.com

Higher wages, fuel prices turn up cost pressure on airlines

BERLIN (Reuters) - With inflation paramount in investors' minds at a time of rising wages and oil prices, the line separating winners and losers in the global airline industry this year looks likely to be drawn on how well they manage costs, especially on the labor side.

businessNews reuters.com

Campaigners to challenge 'fit and proper' ruling on Fox bid for Sky in court

LONDON (Reuters) - The decision by regulators that Twenty-First Century Fox would be a "fit and proper" owner of Sky will be challenged in court, campaign group Avaaz said on Wednesday.

businessNews reuters.com

Sky investor Polygon says Fox offer undervalues broadcaster

LONDON (Reuters) - Hedge fund Polygon Global Partners, which is an investor in Sky , said the outcome of the English Premier League soccer rights auction supported its view that the takeover by Twenty-First Century Fox undervalues the British company.

cnn.com

North Korean figure skaters revel in starring role on Olympic ice

They landed every jump, wooed the crowd and rose to the occasion.

topNews reuters.com

South African police raid Gupta home, ANC to sack Zuma via parliament

JOHANNESBURG (Reuters) - South Africa's ANC unveiled plans on Wednesday to sack President Jacob Zuma via a parliamentary no-confidence vote, hours after armed police raided the luxury home of his friends, the Gupta brothers, as part of an anti-corruption investigation.

businessNews reuters.com

Chipotle shares jump as new chief sparks hope of quicker turnaround

(Reuters) - Chipotle Mexican Grill Inc shares jumped more than 11 percent premarket on Wednesday, as analysts called its recruitment of Taco Bell chief executive Brian Niccol a potentially "transformational moment" after two years of brand-crushing food-safety scandals.

businessNews reuters.com

U.S. consumer prices accelerate; core CPI posts largest gain in a year

WASHINGTON (Reuters) - U.S. consumer prices rose more than expected in January, with a measure of underlying inflation posting its biggest gain in a year, strengthening expectations that price pressures will accelerate this year and prompt a faster pace of interest rate increases from the Federal Reserve.

businessNews reuters.com

Futures sink as CPI data raises inflation fears

(Reuters) - U.S. stock reversed course to trade half a percent lower on Wednesday after data showed consumer prices rose more than expected in January, with a measure of underlying inflation posting its biggest gain in a year.

businessNews reuters.com

Apple in talks for first order from Chinese chipmaker: Nikkei

(Reuters) - Apple Inc is in talks to buy storage chips from Yangtze Memory Technologies, a move that would mark the iPhone maker's first buy from a Chinese memory chipmaker, the Nikkei reported on Wednesday.

Joyce, Barnaby (1967- ) nytimes.com

Op-Ed Contributor: Is Australia’s Media Too Prudish for a Sex Scandal?

Australia’s married deputy prime minister is having a child with a former staff member. The country’s media have been strangely reluctant to cover it.

businessNews reuters.com

Opel says to build next-generation Corsa in Spain

FRANKFURT (Reuters) - Opel, the German carmaker now owned by France's PSA Group , said a new version of its Corsa city car would be built exclusively in Zaragoza, Spain, from 2019.

businessNews reuters.com

South Korea union says GM plant closure is 'death sentence', threatens strike

GUNSAN/SEOUL (Reuters) - General Motors' workers at a South Korean plant staged a protest on Wednesday against its planned closure, calling the move by the U.S. automaker a "death sentence", and threatening a strike.

topNews reuters.com

South African police raid Gupta home, pressure cranks up on Zuma

JOHANNESBURG (Reuters) - Heavily armed South African police raided the luxury home of the Gupta family on Wednesday as part of a probe into allegations the three brothers had corrupt links with President Jacob Zuma, who has been ordered by the ruling ANC to quit as head of state.

businessNews reuters.com

U.S. inflation test looms large, dollar falls

LONDON (Reuters) - The dollar slid to a 15-month low against the yen on Wednesday, while world stock markets found firmer ground ahead of U.S. inflation numbers that could soothe, or inflame, fears of faster interest-rate hikes globally.

businessNews reuters.com

Toshiba names ex-banker as CEO, seen tackling opposition to chip unit sale

TOKYO (Reuters) - Toshiba Corp appointed a former banker experienced in dealing with distressed companies as CEO, and forecast its first annual profit in four years, helped by a buoyant chip business that it has agreed to sell.

businessNews reuters.com

South Korea union says GM plant closure move is 'death sentence', threatens strike

GUNSAN/SEOUL (Reuters) - General Motors' (GM) workers at a South Korean plant staged a protest on Wednesday against its planned closure, calling the move by the U.S. automaker a "death sentence", and threatening a strike.

businessNews reuters.com

U.S. regulators probe Credit Suisse hiring in Asia

FRANKFURT (Reuters) - U.S. authorities are investigating whether Credit Suisse hired referrals from government agencies and state entities in Asia in exchange for investment banking business and regulatory approvals, the Swiss bank said on Wednesday.

Corruption (Institutional) nytimes.com

South Africa Police Raid Home of the Gupta Family, Allies of Zuma

The police action came as the embattled president faced calls from his party, the African National Congress, to step down.

businessNews reuters.com

Walmart goes to the cloud to close gap with Amazon

SAN BRUNO/SUNNYVALE, Calif. (Reuters) - One of Walmart Inc's best chances at taking on Amazon.com Inc in e-commerce lies with six giant server farms, each larger than ten football fields.

worldNews reuters.com

Chinese province says former leader's graft case involves huge sums

BEIJING (Reuters) - The corruption case against former senior Chinese official Sun Zhengcai involves massive sums rarely seen in the country's modern history, the government of one of the provinces he used to run said in comments published on Wednesday.

cnn.com

The Rob Porter scandal has undermined the credibility of top officials, including Chief of Staff John Kelly

businessNews reuters.com

In Trump’s first year, U.S. agency doubles solar investments abroad

LOS ANGELES (Reuters) - The United States government doubled its financial support for solar power projects overseas last year under a climate-friendly investment policy written in the last days of the Obama administration, according to a Reuters review of government documents.

businessNews reuters.com

Asia shares wary of U.S. inflation, dollar breaks down

SYDNEY (Reuters) - Asian share markets turned mixed on Wednesday as investor nerves were strained ahead of a U.S. inflation report that could soothe, or inflame, fears of faster rate hikes globally.