Business News

Dollar falls as Fed officials ring note of caution, pound bounces

NEW YORK (Reuters) - The dollar fell broadly on Friday in the wake of cautious comments from two U.S. Federal Reserve officials about global economic growth, while sterling rose following losses tied to fears about a Brexit deal. The greenback fell to one-week lows versus the euro and a two-week trough against the yen following comments from Fed Vice Chair Richard Clarida, who told CNBC television he saw some evidenc...

16 Nov 8:59 PM 0 Read More...

Trump says U.S. may not impose more tariffs on China

WASHINGTON (Reuters) - U.S. President Donald Trump said on Friday that he may not impose more tariffs on Chinese goods after Beijing sent the United States a list of measures it was willing to take to resolve trade tensions, although he added it was unacceptable that some major items were omitted from the list. Trump has imposed tariffs on $250 billion of Chinese imports to force concessions from Beijing on the list ...

16 Nov 8:59 PM 0 Read More...

PG&E shares, debt rebound as regulator soothes bankruptcy fear

(Reuters) - Shares of embattled utility PG&E Corp (PCG.N) surged 37 percent on Friday as fears it could be bankrupted by potential liability from California’s deadliest-ever wildfire were assuaged by signs of support from a regulator. GRAPHIC: Fire Fear - tmsnrt.rs/2PyMu9a Bloomberg on Thursday reported the head of the California Public Utilities Commission (CPUC) as saying he could not imagine allowing the sta...

16 Nov 8:59 PM 0 Read More...

UBS lures more money from U.S. super rich to Switzerland

ZURICH (Reuters) - A decade after a U.S. crackdown ended Swiss banking secrecy, rich Americans are flocking back to UBS (UBSG.S) as they look to diversify their investments in a volatile U.S. political landscape, a senior executive at the Swiss group told Reuters. “The interest has increased, for political reasons and for reasons of diversification,” Juergen Wegner said in an interview, without elaborating. Weg...

16 Nov 3:54 PM 0 Read More...

VW embarks on $50 billion electrification plan

WOLFSBURG, Germany (Reuters) - Volkswagen (VOWG_p.DE) expects to become the most profitable manufacturer of electric cars thanks to a multi-billion euro expansion plan to mass produce battery driven vehicles, Chief Executive Herbert Diess said on Friday. VW will spend almost 44 billion euros ($50 billion) on developing electric cars, autonomous driving and new mobility services by 2023 and explore further areas of co...

16 Nov 3:54 PM 0 Read More...

The egos disbanded? Bridging the great advertising divide

BARCELONA (Reuters) - Traditional advertising groups hope that their creative flair will prevail against the technological clout of consultancies encroaching on their business, but there are signs the two sides of the divide are moving closer together. The likes of Accenture, PwC and IBM have been buying small ad agencies to serve clients hungry for data-driven insight to focus their marketing spend. The major advert...

16 Nov 3:54 PM 0 Read More...

S&P 500 edges lower on chip weakness, oil boosts energy stocks

(Reuters) - The S&P 500 edged lower on Friday as chip stocks tumbled after weak forecasts from Nvidia and Applied Materials, but a recovery in oil prices for a third day lifted energy stocks. Nvidia Corp (NVDA.O) fell 17.9 percent, leading decliners on the S&P 500, after the chip designer blamed unsold chips piling up as the cryptocurrency mining boom fizzles out. Applied Materials Inc (AMAT.O) dropped 5.2 pe...

16 Nov 3:54 PM 0 Read More...

Tesla starts Model 3 orders in China

(Reuters) - Tesla Inc (TSLA.O) has started taking orders for its Model 3 sedan in China, the electric carmaker’s China website said, adding that booking a Model 3 required a deposit of 8,000 yuan ($1,153.60). Chief Executive Officer Elon Musk said, “Probably some deliveries in March, but April is more certain”, after a Twitter user asked when the deliveries will begin in China. ($1 = 6.9348 Chinese yuan renmin...

16 Nov 3:54 PM 0 Read More...

T-Mobile says Sprint deal may close as early as first-quarter next year

(Reuters) - T-Mobile US Inc TMUS.N could close its acquisition of Sprint Corp (S.N) as early as the first quarter of next year, based on indications it is getting from regulators, Chief Financial Officer J. Braxton Carter said at an investor conference. T-Mobile, majority owned by Deutsche Telekom AG (DTEGn.DE), agreed in April to buy Sprint in a $26 billion deal that is expected to close in the first half of 2019. T...

16 Nov 10:54 AM 0 Read More...

Shares and sterling try to shake Brexit blues

LONDON (Reuters) - European stocks recovered but sterling and the euro remained fragile on Friday, after some of the most dramatic 24 hours yet in the Brexit process and another turbulent week for world markets. London, Paris and Frankfurt markets all gained around 0.4 percent [.EU], having been punished the previous day by the resignation of Britain’s Brexit minister roughly 12 hours after a draft agreement with t...

16 Nov 10:54 AM 0 Read More...