Business News

U.S. manufacturing output flat as auto production falls

WASHINGTON (Reuters) - U.S. manufacturing output was unchanged in March after two straight monthly declines, leading to the largest quarterly decrease in production since 2017. The Federal Reserve said on Tuesday manufacturing production last month was restrained by weak motor vehicle and wood products output. Data for February was revised up to show output at factories falling 0.3 percent instead of declining 0.4 pe...

16 Apr 3:10 PM 0 Read More...

Hulu buys back AT&T’s 9.5 percent stake for $1.43 billion

(Reuters) – Hulu is buying back wireless carrier AT&T Inc’s stake in the U.S. entertainment streaming service for $1.43 billion, in a deal that values Hulu at $15 billion, the two companies said on Monday. The purchase of AT&T’s 9.5 percent stake in Hulu gives Walt Disney Co, which holds a 60 percent stake in Hulu via a joint venture, more control of the company. Comcast Corp’s NBCUniversal ha...

16 Apr 12:39 AM 0 Read More...

In South Korea’s struggling Kia Town, ‘bad jobs’ better than no jobs

GWANGJU, South Korea (Reuters) – Park Byung-kyu once led Kia Motor’s union in the city of Gwangju, fighting for labor protections against the powerful, family-run chaebol that dominated the economy during South Korea’s rapid industrialization. But about 20 years ago, Park was assaulted by unionized workers wielding steel clubs after he campaigned for the rights of temporary workers at another company, le...

16 Apr 12:39 AM 0 Read More...

Trump urges ‘rebrand’ of 737 MAX, Boeing has other ideas

WASHINGTON/CHICAGO (Reuters) – U.S. President Donald Trump on Monday urged Boeing Co to “rebrand” its 737 MAX jetliner following two fatal crashes, but the planemaker said it was focused on fixing the problem and brainstorming over next steps to win back public trust. Airline officials said they have held lengthy meetings with Boeing over the past weeks about how to regain the public’s support once the...

16 Apr 12:39 AM 0 Read More...

Italy’s UniCredit to pay $1.3 billion to settle U.S. sanctions probe

(Reuters) – Italy’s top bank UniCredit SpA and two subsidiaries have agreed to pay $1.3 billion to U.S. authorities to settle probes of violations of U.S. sanctions on Iran and other countries, U.S. authorities said on Monday. In addition, UniCredit Bank AG, the bank’s German unit, agreed to plead guilty to federal and New York state criminal charges for illegally moving hundreds of millions of dollars t...

16 Apr 12:39 AM 0 Read More...

Hulu buys back AT&T's 9.5 percent stake for $1.43 billion

(Reuters) - Hulu is buying back wireless carrier AT&T Inc’s stake in the U.S. entertainment streaming service for $1.43 billion, in a deal that values Hulu at $15 billion, the two companies said on Monday. The purchase of AT&T’s 9.5 percent stake in Hulu gives Walt Disney Co, which holds a 60 percent stake in Hulu via a joint venture, more control of the company. Comcast Corp’s NBCUniversal has a 30 per...

16 Apr 12:06 AM 0 Read More...

In South Korea's struggling Kia Town, 'bad jobs' better than no jobs

GWANGJU, South Korea (Reuters) - Park Byung-kyu once led Kia Motor’s union in the city of Gwangju, fighting for labor protections against the powerful, family-run chaebol that dominated the economy during South Korea’s rapid industrialization. But about 20 years ago, Park was assaulted by unionized workers wielding steel clubs after he campaigned for the rights of temporary workers at another company, leaving him...

16 Apr 12:06 AM 0 Read More...

Trump urges 'rebrand' of 737 MAX, Boeing has other ideas

WASHINGTON/CHICAGO (Reuters) - U.S. President Donald Trump on Monday urged Boeing Co to “rebrand” its 737 MAX jetliner following two fatal crashes, but the planemaker said it was focused on fixing the problem and brainstorming over next steps to win back public trust. Airline officials said they have held lengthy meetings with Boeing over the past weeks about how to regain the public’s support once the grounded...

16 Apr 12:05 AM 0 Read More...

Italy's UniCredit to pay $1.3 billion to settle U.S. sanctions probe

(Reuters) - Italy’s top bank UniCredit SpA and two subsidiaries have agreed to pay $1.3 billion to U.S. authorities to settle probes of violations of U.S. sanctions on Iran and other countries, U.S. authorities said on Monday. In addition, UniCredit Bank AG, the bank’s German unit, agreed to plead guilty to federal and New York state criminal charges for illegally moving hundreds of millions of dollars through th...

16 Apr 12:05 AM 0 Read More...

U.S. airlines face too many travelers, too few planes in 737 MAX summer dilemma

CHICAGO (Reuters) - Normally, U.S. airlines compete to sell tickets and fill seats during the peak summer travel season. But operators of the grounded Boeing 737 MAX are facing a different problem: scarce planes and booming demand. The grounding of Boeing Co’s fuel-efficient, single-aisle workhorse after two fatal crashes is biting into U.S. airlines’ Northern Hemisphere spring and summer schedules, threateni...

16 Apr 12:05 AM 0 Read More...