Business News

Honeywell puts more of its chips on aerospace

(Reuters) - Honeywell International Inc is expected to unveil a corporate makeover on Tuesday that ties its growth more strongly to aerospace technology - the opposite of what activist investor Third Point Capital has urged since April. Honeywell Chief Executive Officer Darius Adamczyk, like his peers at other industrial conglomerates, is under pressure to pull apart a portfolio of disparate businesses that includes ...

10 Oct 7:47 AM 0 Read More...

OPEC Secretary General urges U.S. shale oil producers to help cap global supply

NEW DELHI (Reuters) - OPEC’s Secretary General Mohammed Barkindo on Tuesday called on U.S. shale oil producers to help curtail global oil supply, warning extraordinary measures might be needed next year to sustain the rebalanced market in the medium to long term. “We urge our friends, in the shale basins of North America to take this shared responsibility with all seriousness it deserves, as one of the key lesson...

10 Oct 7:47 AM 0 Read More...

Asian shares shrug off Wall St. weakness, dollar steadies

TOKYO (Reuters) - Asian shares rose on Tuesday, shrugging off modest losses on Wall Street, while expectations of another U.S. interest rate increase this year continued to underpin the dollar. Futures suggested a more subdued start to the European trading day, with the Eurostoxx 50 and Germany’s Dax futures both down 0.1 percent. France’s Cac futures and FTSE futures were both slightly lower. MSCI’s broade...

10 Oct 7:47 AM 0 Read More...

Trian's Peltz to face close Procter & Gamble shareholder vote

(Reuters) - Procter & Gamble Co on Tuesday will become the biggest ever company to face a shareholder vote over a proxy contest, seeking to prevent activist hedge fund Trian Fund Management LP CEO Nelson Peltz from securing a seat on its board of directors. After the two sides collectively spent more than an estimated $100 million on mailings, phone calls and advertisements to woo investors, the outcome as of lat...

10 Oct 7:47 AM 0 Read More...

Asian shares shrug off Wall Street gloom, dollar steadies

TOKYO (Reuters) - Asian shares gained on Tuesday, shrugging off modest losses on Wall Street while expectations of a U.S. interest rate increase this year continued to underpin the dollar. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.4 percent in early trading. Korean shares .KS11 rallied 1.4 percent on their first day of trading this month, on expectations continued tensions wi...

10 Oct 2:46 AM 0 Read More...

Wall Street recedes from highs as quarterly reports loom

(Reuters) - Wall Street fell from record levels on Monday as gains in Microsoft and other technology stocks failed to offset a drop in General Electric and a slide in healthcare stocks. The S&P healthcare index .SPXHC moved 0.67 percent lower, weighed by a 3.61-percent slide in Medtronic (MDT.N) after the medical device maker warned that its quarterly profit would be impacted after Hurricane Maria hit its operati...

09 Oct 9:44 PM 0 Read More...

AIG sees third-quarter catastrophe losses of about $3 billion

(Reuters) - American International Group Inc (AIG.N) said on Monday it expected to book pre-tax catastrophe losses of about $3 billion in the third quarter mainly related to hurricanes Harvey, Irma and Maria. The company estimated pre-tax losses of about $1 billion each from Harvey and Irma and up to $700 million from Maria. Losses from earthquakes in Mexico is expected to be about $150 million, AIG said in a stateme...

09 Oct 9:44 PM 0 Read More...

Wall Street little changed, with earnings in sight

(Reuters) - Wall Street was little changed in late morning trading on Monday, as losses in healthcare stocks were offset by gains in technology shares, with the third-quarter earnings season looming. U.S. stocks have been on a tear this year, hitting new records almost everyday in the past week, and the upcoming earnings reports will help justify the lofty valuations. “The relatively high valuation, where the marke...

09 Oct 4:30 PM 0 Read More...

Google uncovered Russia-backed ads on YouTube, Gmail, source says

WASHINGTON (Reuters) - Google has discovered Russian operatives spent tens of thousands of dollars on ads on its YouTube, Gmail and Google Search products in an effort to meddle in the 2016 U.S. presidential election, a person briefed on the company’s probe told Reuters on Monday. The ads do not appear to be from the same Kremlin-affiliated entity that bought ads on Facebook Inc, but may indicate a broader Russian ...

09 Oct 4:30 PM 0 Read More...

Germany, China lift world stocks, Spanish worries simmer

LONDON (Reuters) - World shares rose on Monday, with Chinese stocks hitting 21-month highs and the German index setting a new record, while political uncertainty triggered big moves in sterling, the Turkish lira and Spanish debt. European shares rose. The pan-European STOXX 600 index added 0.2 percent and Germany's DAX .GDAXI touched an all-time high after data showing industrial output far overshot forecasts. T...

09 Oct 11:29 AM 0 Read More...