Business News

U.S. sues Lockheed, others for alleged kickbacks on nuclear site cleanup

WASHINGTON (Reuters) - The United States has sued Lockheed Martin Corp, Lockheed Martin Services Inc, and Mission Support Alliance LLC, as well as a Lockheed executive for alleged false claims and kickbacks on a multibillion-dollar contract to clean up a nuclear site, the Justice Department said on Friday. The complaint alleges Lockheed paid more than $1 million to Mission Support Alliance executives in order to win ...

08 Feb 11:54 PM 0 Read More...

Trump official slams cartels as U.S. lawmakers push anti-OPEC bill

WASHINGTON (Reuters) - A senior administration official said on Friday that U.S. national security depends on affordable energy, and slammed cartels when asked if President Donald Trump would support a bill targeting the OPEC production group’s oil supply cuts. “The United States is firmly committed to open, fair and competitive markets for global energy trade,” said the official, who spoke on condition of anon...

08 Feb 6:50 PM 0 Read More...

GM Canada says Oshawa production stopped due to supplier strike

TORONTO (Reuters) - Production at General Motors’ plant in Oshawa, Ontario, stopped at approximately 12:30 p.m. EST on Friday, a spokesman said, after the U.S. automaker exhausted its on-hand supply of seats from Lear Corp, where workers are striking. It was unclear if the output of both trucks and cars was affected, what impact the stoppage had on daily production, or when production would resume, GM Canada sp...

08 Feb 6:50 PM 0 Read More...

Amazon reconsiders New York headquarters over local opposition: Washington Post

WASHINGTON (Reuters) - Amazon.com is reconsidering locating part of its new headquarters in New York because of local opposition, the Washington Post reported on Friday, citing two people familiar with the global retailer’s thinking. The retailing giant had not yet purchased or leased any land for the project there, which would make it easy to leave, the unnamed individuals told the Post, which is owned by Amazon...

08 Feb 6:50 PM 0 Read More...

U.S. prosecutors weigh if American Media violated immunity deal: Bloomberg

WASHINGTON (Reuters) - U.S. prosecutors are reviewing whether National Enquirer parent company American Media Inc violated an earlier agreement granting it legal immunity in exchange for cooperation given the tabloid’s handling of a story about Amazon.com Inc Chief Executive Jeff Bezos, Bloomberg News reported on Friday. Citing two people familiar with the matter, Bloomberg said prosecutors in the U.S. attorney’...

08 Feb 6:50 PM 0 Read More...

American Media says it acted lawfully in reporting on Amazon’s Bezos

WASHINGTON (Reuters) – American Media Inc, the owner of the National Enquirer, said on Friday it acted lawfully in its reporting on Jeff Bezos, chief executive of Amazon.com Inc, and that it would thoroughly investigate his claims of blackmail and take whatever action was necessary. Bezos on Thursday accused AMI of trying to blackmail him with the threat of publishing “intimate photos” he allegedly sent ...

08 Feb 4:36 PM 0 Read More...

Darkening 'global economic skies' pull stocks lower

LONDON (Reuters) - Global stocks fell for a third straight day on Friday, and were set for their first weekly loss in seven, as investors worried about a broadening global economic slowdown and the lack of any sign of a resolution to the U.S.-China trade row. Safe-haven government bonds benefited, with the German 10-year bund yield falling closer toward zero percent and the U.S. 10-year Treasury yield hitting its low...

08 Feb 1:47 PM 0 Read More...

Exclusive: U.S. considers withdrawal of zero tariffs for India - sources

NEW DELHI (Reuters) - India could lose a vital U.S. trade concession, under which it enjoys zero tariffs on $5.6 billion of exports to the United States, amid a widening dispute over its trade and investment policies, people with close knowledge of the matter said. A move to withdraw the Generalised System of Preferences (GSP) from India, the world’s largest beneficiary of a scheme that has been in force since the ...

08 Feb 1:46 PM 0 Read More...

Activist Elliott tells Pernod there is still work to do

PARIS (Reuters) - Activist investor Elliott kept up the pressure on French spirits group Pernod Ricard, welcoming this week’s first-half results but calling for boardroom changes and better margins. Elliott, which has built a stake of just over 2.5 percent in Pernod Ricard, has called on the family-backed group to raise profit margins to bring them more into line with British rival Diageo. Elliott has suggested 500...

08 Feb 1:46 PM 0 Read More...

Shell leads cash race but Exxon catching up

LONDON (Reuters) - Royal Dutch Shell widened its lead over Exxon Mobil as king of cash among the world’s top oil and gas companies last year but its U.S. rival could catch up with its investment drive in new production. The five leading firms, known as oil majors, more than tripled profits and doubled cash generation since 2016 as deep cost cutting bore fruit after an industry slump. Unlike previous cycles, most ex...

08 Feb 1:46 PM 0 Read More...