Business News

As oil rises, warnings emerge from U.S. retailers

NEW YORK (Reuters) - Worries about rising oil prices have begun to creep into U.S. retailers’ earnings calls, and investors are raising concerns that those costs may slow discretionary spending among Americans and push down the performance of the retailers’ shares. A Home Depot delivery truck drives on Wall St. in New York City, U.S., August 16, 2017. REUTERS/Brendan McDermid Oil prices climbed on Thursday to the...

17 May 11:49 PM 0 Read More...

CBS votes to end Redstone control, needs court approval

(Reuters) - CBS Corp’s (CBS.N) board on Thursday voted to end Shari Redstone’s control of the company, a move aimed at stopping a merger between CBS and sister company Viacom Inc (VIAB.O) and which will require approval by a Delaware court. The board approved 11-3 a special dividend that would cut the Redstone family’s stake to about 20 percent from 80 percent, CBS said in a statement. The Redstone family’s ...

17 May 11:49 PM 0 Read More...

Ethereum is top public blockchain, bitcoin No. 13 in China’s new index

NEW YORK (Reuters) – Ethereum is the top public blockchain in the cryptocurrency space, while that of bitcoin, the original virtual currency, is ranked 13th, according to the Chinese government’s first monthly Global Public Chain Assessment Index released on Thursday. Representation of the Ethereum virtual currency standing on the PC motherboard is seen in this illustration picture, February 3, 2018. REUTERS...

17 May 10:44 PM 0 Read More...

Wall Street set to open lower as bond yields rise, Cisco weighs

(Reuters) - Wall Street was on pace to open lower on Thursday, weighed down by U.S. Treasury yields hitting fresh seven-year highs and Cisco’s disappointing forecast, while looming Sino-U.S. trade talks added to the jitters. FILE PHOTO: Traders and guests gather for the IPO of PermRock Royalty Trust on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 2, 2018. REUTERS/Brendan McDermidTen-year U...

17 May 1:39 PM 0 Read More...

U.S. weekly jobless claims rise; mid-Atlantic factory activity picks up

WASHINGTON (Reuters) - New applications for U.S. jobless benefits increased more than expected last week, but the number of Americans on unemployment rolls fell to its lowest level since 1973, pointing to diminishing labor market slack. FILE PHOTO: A job seeker holds a "We're Hiring" card while talking to a representative from Target at a City of Boston Neighborhood Career Fair on May Day in Boston, Massachusetts, U....

17 May 1:39 PM 0 Read More...

Blood but not much treasure: Vivendi's European media crusade

MILAN/LONDON (Reuters) - French tycoon Vincent Bollore’s stated goal to create a southern European media empire faces defeat in Italy, despite pumping 5 billion euros ($5.9 billion) into his biggest foreign conquest, raising questions over whether the strategy ever existed. FILE PHOTO: Vincent Bollore, Chairman of the Supervisory Board of media group Vivendi, speaks during the company's shareholders meeting in Pari...

17 May 1:39 PM 0 Read More...

U.S., China launch trade talks to avert tariff war, economic damage

WASHINGTON (Reuters) - The United States and China launch a second round of trade talks on Thursday to try to avert a damaging tariff war, with the Trump administration demanding a $200 billion cut in China’s U.S. trade surplus and greater protections for intellectual property. FILE PHOTO: Containers are seen at the Yangshan Deep Water Port in Shanghai, China April 24, 2018. REUTERS/Aly SongU.S. President Donald Tr...

17 May 1:39 PM 0 Read More...

Walmart's U.S. e-commerce growth rebounds, shares rise

NEW YORK (Reuters) - Walmart Inc, the world’s biggest retailer, posted a rebound in its U.S. e-commerce business on Thursday and beat profit and revenue expectations, lifting its shares in premarket trade. FILE PHOTO: The logo of Walmart is seen on shopping trolleys at their store in Sao Paulo, Brazil February 14, 2018. REUTERS/Paulo Whitaker/File photo Walmart’s e-commerce sales grew 33 perc...

17 May 1:39 PM 0 Read More...

Euro hampered by Italian political risk; Asian shares ease

SINGAPORE (Reuters) - The euro struggled near five-month lows on Thursday as worries Italian populist parties might push for debt forgiveness from the European Central Bank triggered wider concerns about market disruption in the common currency region. FILE PHOTO: A panel displays a list of top active securities outside the Hong Kong Exchanges in Hong Kong, China February 28, 2018. REUTERS/Bobby Yip/File Photo ...

17 May 8:39 AM 0 Read More...

In Silicon Valley, Chinese 'accelerators' aim to bring startups home

NEW YORK/ SAN FRANCISCO (Reuters) - Beijing’s unslakeable thirst for the latest technology has spurred a proliferation of “accelerators” in Silicon Valley that aim to identify promising startups and bring them to China. An exterior view of the ZGC Innovation Center is seen in Santa Clara, California, April 12, 2018. Picture taken April 12, 2018. REUTERS/Stephen LamThe surge in the number of China-focus...

17 May 8:39 AM 0 Read More...