Business News

Healthcare draws election-year worry, but 2016 repeat not seen

NEW YORK (Reuters) - With another election year looming, investors in the healthcare sector are wary the coming months could reopen wounds suffered during the 2016 U.S. presidential race. Healthcare becoming as a hot an issue in the 2018 midterm elections as it was two years earlier could threaten the sector. A big risk stems from voters giving majorities to Democrats in the U.S. Senate and House of Representatives, ...

16 Dec 6:36 AM 0 Read More...

Uber should have given court an ex-employee’s letter about ‘fraud and theft’ in Waymo case

SAN FRANCISCO (Reuters) – Ride hailing company Uber was obligated to turn over to a U.S. federal judge a letter from a former employee that told of the company’s “fraud and theft” and mentioned evidence of stolen trade secrets nailed “like a scalp” to the wall, a court official said Friday. Special master, John Cooper, assigned to a lawsuit against Uber Technologies Inc [UBER.UL] by Alphabet Inc’s (GO...

16 Dec 6:36 AM 0 Read More...

Tesla largely responsible for slide in U.S. home solar sales

(Reuters) - After years of double-digit growth, home solar installations in the United States are poised to fall for the first time this year, according to a report released on Thursday by GTM Research. The reason? An analysis of installation data suggests that most of the slowdown is traceable to a single company: Tesla Inc (TSLA.O), which acquired sister company SolarCity about a year ago. For years, SolarCity, wi...

15 Dec 8:29 PM 0 Read More...

Wall Street at record highs on rising hopes of tax overhaul

NEW YORK (Reuters) - Wall Street’s three major indexes scaled new heights on Friday, with all major sectors pushing higher as a long-awaited tax bill that would cut corporate tax rates looked like it would win support among lawmakers. Republicans were expected to release final details of their plan on Friday, with decisive votes in the House of Representatives and the Senate seen next week. By late afternoon CNBC w...

15 Dec 8:29 PM 0 Read More...

Unilever to sell spreads business to KKR for $8 billion

(Reuters) - Unilever (ULVR.L) has agreed to sell its margarine and spreads business to U.S. private equity firm KKR (KKR.N) for 6.83 billion euros ($8.04 billion) to concentrate on faster growing products. The maker of Knorr soup and Dove soap announced the deal on Friday, hours after Reuters reported that KKR had entered exclusive talks to buy the shrinking business after outbidding rivals. The brands to be sold i...

15 Dec 8:29 PM 0 Read More...

Big U.S. banks engage universities to fill unglamorous banking jobs

(Reuters) - Banks are grappling with how to recruit young people into businesses like trade finance and cash management, which are increasingly important drivers of revenue but perceived to be un-sexy compared with investment banking and trading. At Citigroup Inc (C.N), the treasury and trade solutions group is seen as a jewel, with stable revenue and high return on equity. The business, which helps manage the way la...

15 Dec 8:29 PM 0 Read More...

Wall Street rally sets the stage for big IPO year in 2018

(Reuters) - A relentless bull-run in U.S. stock indexes this year has set the stage for a strong IPO market in 2018, with several multi-billion dollar firms including Airbnb and Spotify widely expected to grab headlines with their offerings. The S&P 500 .SPX, the Dow Jones Industrial Average .DJI and the Nasdaq .IXIC are all set to cap the year with their biggest annual gains since 2013. Riding the rally, the U.S...

15 Dec 8:29 PM 0 Read More...

Exclusive: KKR wins auction for Unilever's spreads business - sources

(Reuters) - Private equity firm KKR (KKR.N) is in exclusive talks to buy Unilever’s (ULVR.L) margarine and spreads business after outbidding other buyout firms, people familiar with the matter said on Friday, in a deal expected to top $7 billion. The deal would be a result of Unilever’s review of its operations in search of non-core assets, which it initiated earlier this year after rebuffing a $143 billion takeo...

15 Dec 3:29 PM 0 Read More...

Wall Street up as gains in consumer staples power recovery

(Reuters) - Wall Street indexes rose on Friday with gains in consumer stocks such as Costco Wholesale helping a broad recovery. Costco (COST.O) rose 4 percent after the retailer reported upbeat results and pushed up the S&P Consumer Staples index .SPLRCS by 0.9 percent. The index was the biggest gainer among the 11 major S&P sectors. The S&P 500 fell the most in a month on Thursday after Republican Senat...

15 Dec 3:29 PM 0 Read More...

Tesla largely responsible for slide in U.S. home solar sales: report

(Reuters) - After years of double-digit growth, home solar installations in the United States are poised to fall for the first time this year, according to a report released on Thursday by GTM Research. The reason? An analysis of installation data suggests that most of the slowdown is traceable to a single company: Tesla Inc (TSLA.O), which acquired sister company SolarCity about a year ago. For years, SolarCity, wi...

15 Dec 3:29 PM 0 Read More...