Business News

U.S. military intervention in Venezuela 'not an option': lawmaker

WASHINGTON (Reuters) - Congress will not support U.S. military intervention in Venezuela despite hints by President Donald Trump that such action had not been ruled out, the Democratic chairman of the House Foreign Affairs Committee said on Wednesday. “I do worry about the president’s saber rattling, his hints that U.S. military intervention remains an option. I want to make clear to our witnesses and to anyone e...

13 Feb 8:09 PM 0 Read More...

Trump: China trade talks going 'very well' before high-level parley

WASHINGTON/BEIJING (Reuters) - U.S. President Donald Trump said on Wednesday trade talks with China were “going along very well” as the world’s two largest economies try to resolve their seven-month tariff war ahead of a March 1 deadline for a deal. U.S. tariffs on $200 billion worth of imports from China are scheduled to rise to 25 percent from 10 percent if the two sides don’t reach a deal by then, increasi...

13 Feb 8:09 PM 0 Read More...

Trump, Xi expected to meet 'sometime in March': USDA official

(Reuters) - U.S. President Donald Trump and Chinese President Xi Jinping are expected to meet next month, a U.S. Department of Agriculture official said at an industry event on Wednesday, as the two countries try to hammer out a deal to end a tit-for-tat tariff battle. The presidents are expected to meet “sometime in March,” said USDA Deputy Secretary Stephen Censky at a renewable fuels industry conference. U.S. ...

13 Feb 8:09 PM 0 Read More...

Apple ramps up self-driving program as Waymo says its tech improves

SAN FRANCISCO (Reuters) - Apple Inc has sharply increased its efforts to test self-driving cars on public roads but lags far behind market leader Waymo on a key safety metric, according to data released on Wednesday by the California Department of Motor Vehicles. Apple, which has kept details of its self-driving program under wraps, put in 79,745 miles (128,337 km) of testing in California in 2018, still far short of...

13 Feb 8:09 PM 0 Read More...

U.S. charges former top Apple lawyer with insider trading

(Reuters) - The former top corporate lawyer at Apple Inc was criminally charged by the U.S. Department of Justice on Wednesday with insider trading ahead of six of the iPhone maker’s quarterly earnings announcements. Authorities said Gene Levoff exploited his positions as corporate secretary, head of corporate law and co-chairman of a committee that reviewed draft copies of Apple’s financial results to trade ille...

13 Feb 8:09 PM 0 Read More...

Exclusive: Volkswagen, Ford far apart on investment in Ford autonomous unit – sources

(Reuters) – Partners Volkswagen AG and Ford Motor Co are at odds over how much the German automaker will invest in the No. 2 U.S. automaker’s self-driving vehicle unit, with Ford seeking at least $500 million, people familiar with the negotiations said. Analysts and investors have focused on the potential savings their alliance could generate, so any sign of problems in the negotiations is not welcome news. ...

13 Feb 6:14 PM 0 Read More...

Cryptocurrency firm Quadriga moved bitcoins to ‘cold wallets’ inadvertently: report

TORONTO (Reuters) – Canadian digital currency platform Quadriga inadvertently transferred almost C$470,000 ($355,226) worth of bitcoins to a storage that it is unable to access after the firm’s founder died, a court-nominated monitor said in a report. Quadriga, which owes a total of C$250 million to 115,000 users, filed for creditor protection last month after the sudden death of founder Gerald Cotten in D...

13 Feb 6:14 PM 0 Read More...

Oil rises 1 percent on deepening OPEC supply cuts, sanctions on Venezuela

SINGAPORE (Reuters) - Oil prices rose on Wednesday as producer club OPEC said it had cut supply deeply in January and as U.S. sanctions hit Venezuela’s oil exports. U.S. West Texas Intermediate (WTI) crude oil futures were at $53.70 per barrel at 0344 GMT, up 60 cents, or 1.1 percent, from their last close. International Brent crude futures were up 1.1 percent, or 69 cents, at $63.11 per barrel. Jeffrey Halley, s...

13 Feb 4:59 AM 0 Read More...

Venezuela turns to India for oil exports as U.S. sanctions bite

HOUSTON/MEXICO CITY/MOSCOW (Reuters) - Venezuela’s oil exports have tapered off and shifted toward India since new U.S. sanctions began Jan. 28 as state-run oil company PDVSA seeks to replace deliveries to the United States and Europe that were disrupted by payment restrictions. The South American nation is turning its focus to cash-paying buyers, especially in India, its second-largest customer after the Uni...

13 Feb 4:59 AM 0 Read More...

Exclusive: Venezuela's self-declared president Guaido to nominate own Citgo board - sources

(Reuters) - Advisers to Venezuela’s self-declared president Juan Guaido have proposed he appoint six executives to a transitional board for U.S. refiner Citgo Petroleum Corp, Venezuela’s most important foreign asset, four people close to the talks said. The congress chief wants to secure control of the U.S. subsidiary of Venezuelan state-run energy firm PDVSA as he seeks to assemble an interim government. Control...

13 Feb 4:59 AM 0 Read More...