Business News

Fears of peak iPhone rattle Asian Apple suppliers

TAIPEI/SEOUL (Reuters) - Shares in Asian suppliers and assemblers for Apple Inc (AAPL.O) fell on Tuesday after several component makers warned of weaker than expected results, leading some market watchers to call the peak for iPhones in several key markets. Following a poor forecast earlier this month, analysts and investors voiced concern over the state of Apple’s business, contributing to growing worries that iPh...

13 Nov 7:14 AM 0 Read More...

Exclusive: Juul sounds out Indonesia for expansion, other Asian countries in its sights

JAKARTA/LOS ANGELES (Reuters) - Juul Labs Inc is exploring selling its compact vaping devices in Asia and has sounded out government officials in Indonesia, one of the world’s most smoker-friendly countries, although gaining approval there could face significant hurdles. Expansion into Asia would provide the fast-growing firm with new markets at a time when it faces increased regulatory scrutiny in the United State...

13 Nov 7:14 AM 0 Read More...

Asian shares pare losses on U.S.-China trade optimism, oil slides

SYDNEY (Reuters) - Asian shares pared losses on Tuesday as hopes for a de-escalation of the Sino-U.S. tariff war drew support from reports that China’s top trade negotiator was preparing to visit the United States ahead of a meeting between the two countries’ leaders. The South China Morning Post reported, citing sources from both sides, that Liu He may visit Washington as part of the preparations for the talks ...

13 Nov 7:14 AM 0 Read More...

Amazon picks NYC and Northern Virginia for its split "HQ2": source

(Reuters) - Amazon.com Inc (AMZN.O) plans to announce on Tuesday that it has selected New York and Northern Virginia as locations for its second headquarters, a source familiar with the matter told Reuters on Monday. In the announcement, that could come as early as Tuesday morning, Amazon will announce a significant investment in one additional city, the source said. The decision would bring to an end a more-than-yea...

13 Nov 7:14 AM 0 Read More...

Australian court rejects regulator’s record fine against Westpac

SYDNEY (Reuters) – An Australian court refused on Tuesday to approve a record A$35 million ($25 million) fine imposed on Westpac Banking Corp (WBC.AX) by the corporate regulator for using inappropriate calculations to determine if customers could afford home loans. The decision is a further blow to the Australian Securities and Investments Commission (ASIC), after a public inquiry into the financial sector f...

13 Nov 4:14 AM 0 Read More...

Australian court rejects regulator's record fine against Westpac

SYDNEY (Reuters) - An Australian court refused on Tuesday to approve a record A$35 million ($25 million) fine imposed on Westpac Banking Corp (WBC.AX) by the corporate regulator for using inappropriate calculations to determine if customers could afford home loans. The decision is a further blow to the Australian Securities and Investments Commission (ASIC), after a public inquiry into the financial sector found it h...

13 Nov 2:14 AM 0 Read More...

Asian shares sell-off on Wall Street tech rout, oil slides

SYDNEY (Reuters) - Asian shares skidded on Tuesday after a rout in tech stocks put Wall Street to the sword, while a sharp drop in oil prices and political risks in Europe pushed the dollar to 16-month highs as investors dumped riskier assets. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS dropped 1.7 percent to a 1-1/2 week trough, with Australian shares sinking 1.6 percent. Japan's Ni...

13 Nov 2:14 AM 0 Read More...

General Electric seeks urgent asset sales as bond fears rise

NEW YORK (Reuters) - General Electric Co (GE.N) will sell assets with “urgency” to reduce its high debt, Chief Executive Officer Larry Culp said on Monday, as GE shares tumbled as much as 10 percent and the cost of insuring its debt hit a six-year high. Culp is facing tough questions about GE’s financial strength and profit outlook after being named CEO on Oct. 1 with a mandate to turn around the 126-year-old c...

13 Nov 2:14 AM 0 Read More...

Apple, Goldman Sachs send Wall Street tumbling

NEW YORK (Reuters) - Wall Street’s major indexes tumbled on Monday as shares of Apple Inc (AAPL.O) and Goldman Sachs Group Inc (GS.N) dragged down the technology and financial sectors. With Monday’s losses, all three indexes erased the gains from their brief rally after the U.S. congressional elections on Nov. 6. Apple shares fell 5.0 percent after several suppliers to the company, including Lumentum Holdings Inc...

13 Nov 2:14 AM 0 Read More...

Cable group urges antitrust probe of Comcast and Trump tweets support

WASHINGTON (Reuters) - President Donald Trump tweeted his support on Monday for a call by a cable industry group to investigate alleged anti-competitive practices by Comcast Corp, the world’s biggest entertainment company. The American Cable Association (ACA), which represents hundreds of smaller cable and broadband providers, on Monday said in a statement that it has asked the Justice Department’s antitrust divi...

12 Nov 9:09 PM 0 Read More...