Business News

Exclusive - AT&T CEO: We made 'big mistake' hiring Cohen, chief lobbyist out

(Reuters) - AT&T Inc (T.N) on Friday ousted its top lobbyist, and the No. 2 wireless carrier’s chief executive officer said in a memo it was “big mistake” to hire Michael Cohen, President Donald Trump’s personal attorney, for advice on working with the Trump administration. FILE PHOTO: Chief Executive Officer of AT&T Randall Stephenson arrives at a U.S. District Court in Washington, D.C., U.S. April 1...

11 May 4:14 PM 0 Read More...

Wall Street edges higher on healthcare gains

(Reuters) - U.S. stocks edged higher on Friday as healthcare shares rose ahead of President Donald Trump’s speech on curbing prescription drug costs that is seen as largely sparing the industry. Trader Michael Capolino shouts out a bid on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2018. REUTERS/Brendan McDermidTrump is expected to address the high prices set by drugmakers, rising cos...

11 May 4:14 PM 0 Read More...

U.S. import prices rise less than expected in April

WASHINGTON (Reuters) - U.S. import prices rose less than expected in April as a rebound in the cost of petroleum products was tempered by a drop in food prices, the latest indication that inflation pressures were increasing moderately. FILE PHOTO - A stack of shipping containers are pictured in the Port of Miami in Miami, Florida, U.S., May 19, 2016. REUTERS/Carlo Allegri/File Photo The Labor Department said on ...

11 May 4:14 PM 0 Read More...

Thomson Reuters beats estimates, sees higher 2018 revenue

(Reuters) - Thomson Reuters Corp (TRI.N)(TRI.TO) on Friday reported first-quarter sales and earnings that were slightly higher than expected, and forecast low single-digit growth in revenue this year in its remaining business. The Thomson Reuters logo is seen on the company building in Times Square, New York, U.S., January 30, 2018. REUTERS/Andrew Kelly The news and information company announced earlier in the year t...

11 May 4:14 PM 0 Read More...

Oil near multi-year highs as Iran sanctions tighten supply outlook

LONDON (Reuters) - Oil prices steadied near 3-1/2 year highs on Friday as the prospect of new U.S. sanctions on Iran tightened the outlook for Middle East supply at a time when global crude production is only just keeping pace with rising demand. FILE PHOTO: A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma September 15, 2015. REUTERS/Nick Oxford/File Photo The Uni...

11 May 11:09 AM 0 Read More...

Thomson Reuters sees low single digit growth in 2018 revenue

(Reuters) - Thomson Reuters Corp <TRI.N (TRI.TO) on Friday forecast low single digit growth in 2018 revenue in its remaining business. The Thomson Reuters logo is seen on the company building in Times Square, New York, U.S., January 30, 2018. REUTERS/Andrew Kelly The news and information company announced earlier this year that it is selling a majority stake of its Financial & Risk unit to private equity firm ...

11 May 11:09 AM 0 Read More...

Trump to sit down with major automakers on Friday on fuel rules

WASHINGTON (Reuters) - U.S. President Donald Trump will meet 10 major automakers at the White House on Friday to discuss the fate of landmark fuel efficiency standards and a looming confrontation with California and other major states. A draft proposal circulated by the U.S. Transportation Department would freeze requirements at 2020 levels through 2026, but the administration is not expected to formally unveil the p...

11 May 11:09 AM 0 Read More...

Asian stocks near three-week top, dollar eases after U.S. inflation

SYDNEY (Reuters) - Asian shares rallied on Friday as risk appetite got a boost from soft U.S. inflation, helping alleviate worries of faster rate hikes by the Federal Reserve, while investors also cheered U.S.-North Korean steps to further ease tensions on the Korean Peninsula. FILE PHOTO: A videographer films an electronic board showing the Japan's Nikkei average (Top R) and related indexes at the Tokyo Stock Exchan...

11 May 6:04 AM 0 Read More...

U.S. activist fund Elliott to vote against Hyundai restructuring plan

SEOUL (Reuters) - U.S. activist fund Elliott Management said it will vote against Hyundai Motor Group’s restructuring plan and urged other shareholders to reject the proposal to reform South Korea’s second-largest conglomerate. FILE PHOTO: A worker works at an assembly line of Hyundai Motor's plant in Asan, South Korea, January 27, 2016. REUTERS/Kim Hong-Ji/File PhotoA Hyundai Motor Group executive responded th...

11 May 6:04 AM 0 Read More...

South Korea takes more cautious view on GM Korea turnaround than U.S. automaker

SEOUL (Reuters) - General Motors’ (GM.N) South Korean unit is expected to swing to a profit from 2022, state-run Korea Development Bank (KDB) said on Friday, offering a more subdued outlook for the troubled unit compared with the U.S. automaker which sees a profit from 2019. FILE PHOTO: Employees work at an assembly line of GM Korea's Bupyeong plant in Incheon, South Korea March 29, 2018. REUTERS/Kim Hong-Ji/File P...

11 May 6:04 AM 0 Read More...