Business News

BOJ to cut price forecasts, keep rosy economic view: sources

TOKYO (Reuters) - The Bank of Japan is expected to cut its inflation forecasts at next week’s rate review, sources say, a sign slumping oil prices and a darkening global economic outlook are heightening challenges for hitting its ambitious 2 percent target. But the BoJ is likely to maintain its upbeat assessment that Japan’s economy will keep expanding moderately as global growth is expected to emerge from a soft...

16 Jan 9:09 AM 0 Read More...

Global shares weather May's Brexit debacle, pound steadies

TOKYO (Reuters) - Global share markets and the sterling weathered a UK political storm as investors wagered that London will have no choice but to delay its Brexit deadline to avoid a disorderly exit from the European Union. Trading in Asian equities on Wednesday broadly mirrored overnight resilience in the face of the latest setback for British Prime Minister Theresa May. European shares are also seen steady to...

16 Jan 9:09 AM 0 Read More...

GM's Washington charm offensive sidelined by Wall Street's push for profit

WASHINGTON (Reuters) - General Motors code named its November announcement to cut nearly 15,000 jobs in North America and restructure itself “Turbo,” suggesting a leaner approach for the largest U.S. automaker would “accelerate its transformation.” Wall Street investors cheered the ambition to get smaller and boost profits. But in Washington, the move remains a public relations crisis that threatens to derail...

16 Jan 9:09 AM 0 Read More...

Asia shares subdued after May's Brexit vote defeat, pound steadies

TOKYO (Reuters) - Asian shares took a breather on Wednesday after rallying the previous day on Chinese stimulus hopes, with investors assessing Brexit options after British lawmakers trounced Prime Minister Theresa May’s deal to withdraw Britain from the European Union. May’s crushing loss overnight triggered political upheaval that could lead to a disorderly exit from the European Union on March 29 or even to a ...

16 Jan 4:04 AM 0 Read More...

Tokyo court denies Nissan Ghosn's latest bail request

TOKYO (Reuters) - The Tokyo District Court on Tuesday denied former Nissan Motor Co Ltd Chairman Carlos Ghosn’s request for release on bail after his indictment last week on two new charges, making it likely the once-feted executive remains jailed for months. Lawyers for Ghosn have appealed the decision and could receive a response within the next day. Ghosn awaits a lengthy criminal trial that could be as long as ...

16 Jan 4:04 AM 0 Read More...

Nissan plans to file for damages against Ghosn: source

TOKYO (Reuters) - Nissan Motor Co Ltd plans to file a civil suit against ousted chairman Carlos Ghosn to claim damages resulting from the alleged misuse of company funds, a person with knowledge of the issue said, adding to the high-profile executive’s legal headaches. Ghosn, who remains chairman and chief executive of Nissan’s French partner Renault SA, has already been charged with three counts of financial mis...

16 Jan 4:04 AM 0 Read More...

Sears chairman's takeover proposal faces moment of truth

NEW YORK (Reuters) - Negotiations between Sears Holdings Corp Chairman Eddie Lampert and the bankrupt U.S. department store operator approached a resolution late on Tuesday as the billionaire hedge fund manager faced the choice of improving his $5 billion offer for the company or ending his takeover plans, people familiar with the matter told Reuters. After two days of haggling, U.S. Bankruptcy Judge Robert Drain set...

16 Jan 4:04 AM 0 Read More...

McDonald's loses 'Big Mac' trademark case to Irish chain Supermac's

(Reuters) - McDonald’s Corp has lost its rights to the trademark “Big Mac” in a European Union case ruling in favor of Ireland-based fast-food chain Supermac’s, according to a decision by European regulators. The judgment, provided to Reuters by Supermac’s, revoked McDonald’s registration of the trademark, saying that the world’s largest fast-food chain had not proven genuine use of it over the five ye...

16 Jan 4:04 AM 0 Read More...

Stocks rise on China hopes; sterling rebounds as Brexit vote fails

NEW YORK (Reuters) - Major world stock markets climbed on Tuesday on hopes of more stimulus for China’s economy, while sterling rebounded from the day’s lows after British lawmakers defeated Prime Minister Theresa May’s deal on withdrawing from the European Union. Sterling rallied more than a cent to stand above $1.28 after the vote. It GBP= was last trading at $1.2875, up 0.09 percent on the day. May’s crush...

15 Jan 10:59 PM 0 Read More...

Netflix, China boost Wall Street as investors shrug off Brexit vote

NEW YORK (Reuters) - U.S. stocks rose on Tuesday as technology and internet stocks gained on Netflix Inc’s (NFLX.O) plans to raise fees for U.S. subscribers and hopes of more stimulus for China’s slowing economy fostered a risk-on mood among investors. Netflix shares jumped 6.5 percent after the video streaming company said it was raising prices for its U.S. subscribers. Other internet stocks, including shares of...

15 Jan 10:59 PM 0 Read More...