Business News

EU regulators to rule on Disney's $71 billion bid for Fox assets by October 19

BRUSSELS (Reuters) - EU antitrust regulators have set an Oct. 19 deadline for their ruling on Walt Disney’s (DIS.N) $71.3 billion bid for Twenty-First Century Fox Inc’s (FOXA.O) entertainment assets, the European Commission said on Monday. Disney sought EU approval for the deal on Sept. 14, according to a filing on the EU competition website. It can either clear the deal with or without concessions or open a four...

17 Sep 10:24 AM 0 Read More...

Global shares knocked after new U.S. tariff threat on Chinese goods

LONDON (Reuters) - European share markets followed Asian counterparts lower on Monday as investors took fright at news Washington was set to announce a new round of tariffs on Chinese goods in the latest escalation of their trade conflict. U.S. President Donald Trump’s expected announcement of new tariffs on $200 billion in Chinese goods drew an immediate threat of reprisals from Beijing. The month-long trade confl...

17 Sep 10:24 AM 0 Read More...

Oil higher as U.S. Iran sanctions raise supply concerns

BEIJING (Reuters) - Oil prices rose on Monday as investors focused on the impact of U.S. sanctions on Iran despite assurances by Washington that Saudi Arabia, Russia and the United States could together raise output fast enough to offset falling supplies. U.S. Energy Secretary Rick Perry said in an interview with Reuters on Friday that he did not expect any price spikes and that the world’s top three oil producers ...

17 Sep 10:24 AM 0 Read More...

Musk says Tesla now in ‘delivery logistics hell’

(Reuters) – Tesla Inc’s (TSLA.O) Chief Executive Officer Elon Musk on Sunday acknowledged that the electric carmaker’s problems have now shifted to delivery logistics from production delays, the latest speed bump in its efforts to achieve profitability. “Sorry, we’ve gone from production hell to delivery logistics hell, but this problem is far more tractable. We’re making rapid progress. Should be ...

17 Sep 7:18 AM 0 Read More...

Musk says Tesla now in 'delivery logistics hell'

(Reuters) - Tesla Inc’s (TSLA.O) Chief Executive Officer Elon Musk on Sunday acknowledged that the electric carmaker’s problems have now shifted to delivery logistics from production delays, the latest speed bump in its efforts to achieve profitability. "Sorry, we've gone from production hell to delivery logistics hell, but this problem is far more tractable. We're making rapid progress. Should be solved shortly,...

17 Sep 5:19 AM 0 Read More...

High U.S. stock valuations hinge on inflation, interest rates

NEW YORK (Reuters) - Investors are banking on tame inflation and interest rates to support U.S. stock prices and help counter any concerns over an anticipated slowdown in corporate earnings growth next year. As they have recently, stocks in general are poised to trade at valuations, based on price-to-earnings ratios, higher than they have traded on average since the mid-1980s, investors said. Yields on U.S. governmen...

17 Sep 5:19 AM 0 Read More...

Meredith Corp to sell Time media brand to Marc and Lynne Benioff

(Reuters) - Meredith Corp (MDP.N) said on Sunday it entered into a definitive agreement to sell the Time media brand to Marc and Lynne Benioff for $190 million in cash. The U.S. media company said the Benioffs were purchasing Time personally and the transaction was unrelated to Salesforce.com Inc (CRM.N), where Marc Benioff is chairman, co-chief executive and founder. Marc and Lynne Benioff will not be involved in t...

17 Sep 12:15 AM 0 Read More...

Deutsche to shift more assets to Frankfurt, ringfence UK operations after Brexit: source

FRANKFURT (Reuters) - Deutsche Bank (DBKGn.DE) is considering shifting large volumes of assets from London to Frankfurt after the UK’s planned exit from the European Union next year to meet demands from European regulators, a person close to the matter said on Sunday. Deutsche will also transform its UK arm into a ringfenced subsidiary after Brexit and reduce the size and complexity of its British operations, the s...

16 Sep 7:10 PM 0 Read More...

Carmakers must offer customers incentives to replace diesel models: German minister

FRANKFURT (Reuters) - Germany’s transport minister is in talks with carmakers about how much money they should offer customers to exchange old diesel models for new cars, Frankfurter Allgemeine Zeitung reported. Andreas Scheuer was quoted as saying that German carmakers should offer owners of older diesel-fuelled cars attractive incentives to replace them, but added that no state money would be offered. “The gov...

16 Sep 7:10 PM 0 Read More...

China may reject new trade talks if more tariffs imposed: WSJ

WASHINGTON (Reuters) - The Chinese government may decline to participate in proposed trade talks with the United States later this month if the Trump administration moves forward with additional tariffs on imported Chinese goods, the Wall Street Journal reported on Sunday, citing Chinese officials. The U.S. had proposed the talks, but at the same time moved forward with planning additional tariffs on some $200 billio...

16 Sep 7:09 PM 0 Read More...