Business News

Asia shares absorb Nvidia blow, sterling licks its wounds

SYDNEY (Reuters) - Asian share markets turned mixed on Friday as hopes for a thaw in the Sino-U.S. trade standoff were tempered by disappointing results from U.S. chipmaker Nvidia Corp which slugged the tech sector. The British pound also lay battered and bruised after a bout of political turmoil fanned fears the country could crash out of the European Union without a divorce deal. Asian shares had started firm after...

16 Nov 5:49 AM 0 Read More...

China's U-turn on market curbs brings back the speculators

SHANGHAI (Reuters) - Speculators are staging a forceful comeback in China’s stock market, bidding up shares in loss-making companies as regulators ease rules around trading, fundraising and backdoor listings to prop up struggling bourses. In a bid to stop the kind of market meltdown China saw in 2015-16, authorities are urging funds to invest in cash-strapped companies and encouraging others to do mergers and acqui...

16 Nov 5:49 AM 0 Read More...

Oil rises on expected OPEC cuts, but surging U.S. supply drags

SINGAPORE (Reuters) - Oil prices rose on Friday amid expectations of supply cuts from OPEC, although record U.S. production dragged. U.S. West Texas Intermediate (WTI) crude oil futures were at $56.84 per barrel at 0353 GMT, up 38 cents, or 0.7 percent, from their last settlement. Brent crude oil futures were up 48 cents, or 0.7 percent, at $67.10 per barrel. Prices were mainly supported by expectations the Organizat...

16 Nov 5:49 AM 0 Read More...

Sterling gripped by Brexit crisis; yen enjoys safety bid

SINGAPORE (Reuters) - The British pound struggled to stay afloat in Asian trade on Friday having suffered a tumultuous slide overnight, as investors feared political turmoil in the country could see it crash out of the European Union without a divorce deal. Both the dollar and the yen benefited from a deepening crisis for UK Prime Minister Theresa May after the resignation of key ministers from her government imperi...

16 Nov 5:49 AM 0 Read More...

PG&E shares surge 40 percent on report regulator wants to avoid bankruptcy from wildfire

SAN FRANCISCO/LOS ANGELES (Reuters) - PG&E Corp (PCG.N) shares soared 40 percent in after-hours trade on Thursday after a report that a regulatory official told investors the agency does not want the utility to go into bankruptcy should it be found responsible for this month’s deadly wildfire in northern California. Bloomberg reported the comment by a California Public Utilities Commission (CPUC) official on a...

16 Nov 12:49 AM 0 Read More...

Canadian securities watchdog asks Bombardier to halt exec share sales plan

(Reuters) - The Canadian province of Quebec’s securities watchdog said on Thursday it asked Bombardier Inc (BBDb.TO) to halt stock trades under a plan set up to facilitate share sales by certain senior executives at the company. The Autorité des marchés financiers (AMF) said in a statement released after markets closed that it is “reviewing” transactions and “various announcements” related to Bombardier...

16 Nov 12:49 AM 0 Read More...

California judge orders next Monsanto weed-killer cancer trial for March

(Reuters) - A California judge on Thursday granted an expedited trial in the case of a California couple suffering from cancer who sued Bayer AG’s (BAYGn.DE) Monsanto unit, alleging the company’s glyphosate-containing weed killer Roundup caused their disease. The order by Superior Court Judge Ioana Petrou in Oakland, California, comes on the heels of a $289 million verdict in the first glyphosate trial in San Fra...

16 Nov 12:49 AM 0 Read More...

USTR says next tranche of U.S. tariffs on imports from China on hold: FT

WASHINGTON (Reuters) - U.S. Trade Representative Robert Lighthizer has told some industry executives that another round of tariffs on Chinese imports has been put on hold as the two nations pursue talks, the Financial Times reported on Thursday, citing an unnamed person familiar with the situation. U.S. President Donald Trump has already imposed tariffs on $250 billion of Chinese imports into the United States to for...

15 Nov 7:47 PM 0 Read More...

SpaceX, TeleSat Canada bids get U.S. nod to expand satellite internet

WASHINGTON (Reuters - The U.S. Federal Communications Commission voted unanimously on Thursday to allow Tesla Inc (TSLA.O) Chief Executive Elon Musk’s Space X, Telesat Canada [PSPENC.UL] and two other companies to roll out new satellite-based broadband services. The FCC voted to grant “market access” requests to Telesat, Kepler Communications Inc and LeoSat MA, Inc to offer high-speed internet service and conne...

15 Nov 7:47 PM 0 Read More...

Sterling dives on Brexit uncertainty; Wall Street erases losses

NEW YORK (Reuters) - Sterling tumbled on Thursday as political developments in Britain rippled through currency, bond and equity markets, while the major U.S. stock indexes erased losses from earlier in the session helped by optimism over U.S.-China trade. Fueled by Wall Street’s reversal, a gauge of global stock markets was on track to snap a five-day streak of declines. Oil prices rose to recoup some losses from ...

15 Nov 7:47 PM 0 Read More...