Business News

Wisconsin governor says he wants to renegotiate Foxconn contract

(Reuters) - Wisconsin’s governor said on Wednesday he wants to renegotiate the state’s contract with Foxconn Technology Group for investment incentives because the Taiwanese company is not expected to reach its job creation goals for the state. FILE PHOTO: President Donald Trump, along with Terry Gou, founder and chairman of Foxconn, and Masayoshi Son, CEO of Softbank, talk after the Foxconn Technology Group grou...

18 Apr 2:39 AM 0 Read More...

FCC set to block China Mobile bid to provide U.S. services

(Reuters) - Federal Communications Commission chairman Ajit Pai said on Wednesday he opposes China Mobile Ltd’s bid to provide U.S. telecommunications services, citing security risks, and said the commission will vote on whether to deny the company’s application in May. China Mobile is seeking approval to provide services for phone calls between the United States and other countries. It is not seeking approval to...

18 Apr 2:39 AM 0 Read More...

Tesla holdings slashed by T. Rowe Price funds in latest cuts by investor

(Reuters) - T. Rowe Price funds slashed Tesla Inc holdings in the first quarter, data showed on Wednesday, as the institutional investor continued to cut its positions in the electric vehicle maker. The firm, which has been one of the largest investors in the Silicon Valley company, sold off 92 percent of its prior holdings in the company during the quarter, Refinitiv data showed. That drop represented the funds fo...

18 Apr 2:39 AM 0 Read More...

Samsung Galaxy Fold’s screen malfunctions after a day, some reviewers say

NEW YORK (Reuters) – Samsung’s new Galaxy Fold, a splashy $1,980 phone that opens into a tablet, is malfunctioning for some journalist reviewers after only a day or two of use, according to posts on social media on Wednesday. The problem seems to be related to the unit’s screen either cracking or flickering, according to Twitter posts by technology journalists from Bloomberg, The Verge and CNBC who rece...

17 Apr 9:59 PM 0 Read More...

Wall Street dips as healthcare slide offsets chip boost

(Reuters) - U.S. stocks headed lower on Wednesday, as a selloff in healthcare stocks extended for a second day, overshadowing a rally in chipmakers led by Qualcomm. The S&P healthcare index tumbled 2.5%, on pace to wipe out its yearly gains over concerns about potential changes to healthcare policy as 2020 presidential election looms. “With a Democrat-controlled Congress, there is definitely more talk on regula...

17 Apr 9:35 PM 0 Read More...

Flight from healthcare shares halts stock rally

NEW YORK (Reuters) - World stock markets gave up early gains as a continued flight from healthcare shares dragged on Wall Street, overshadowing upbeat economic data from China. The S&P 500 dipped as the healthcare index dived 3.4% to erase its year-to-date gains on continued fallout from concerns about potential changes to U.S. policy, including a “Medicare for All” proposal by Senator Bernie Sanders. “With...

17 Apr 9:35 PM 0 Read More...

JPMorgan shuffles CFO and card services executives

NEW YORK (Reuters) - JPMorgan Chase & Co switched roles for two women executives on Wednesday, putting Chief Financial Officer Marianne Lake in charge of consumer lending and naming card services chief Jenn Piepszak to take Lake’s place. The moves were announced in an internal memo from Chief Executive Officer Jamie Dimon and the bank’s two co-presidents. Both women are 49 and the changes are effective on May...

17 Apr 9:35 PM 0 Read More...

Pier 1 Imports CFO to depart, likely to shut over 45 stores in 2020

(Reuters) - Pier 1 Imports Inc’s Chief Financial Officer Nancy Walsh is leaving the home furnishing retailer after a year in the job, the company said on Wednesday and reported a 13.7 percent decline in same-store sales in the fourth quarter. Shares of the company fell 20 percent after the bell. The company said it was considering closing up to 45 locations in fiscal 2020 due to lease expirations. The number of...

17 Apr 9:35 PM 0 Read More...

Wisconsin governor says wants to renegotiate Foxconn contract

(Reuters) - Wisconsin’s governor said on Wednesday he wants to renegotiate the state’s contract with Foxconn Technology Group Ltd because the Taiwanese company is not expected to reach its job creation goals for the state. Democratic Governor Tony Evers, who took office in January, inherited a deal to give Foxconn around $4 billion in tax breaks and other incentives that was championed by Scott Walker, the state...

17 Apr 9:35 PM 0 Read More...

Canada transport minister says simulator needed for 737 MAX fix

MONTREAL (Reuters) - New training requirements for Boeing Co’s grounded 737 MAX jet should include time in a flight simulator, Canada’s transport minister said on Wednesday. “It’s not going to be a question of pulling out an iPad and spending an hour on it,” said Marc Garneau. “Simulators are the very best way, from a training point of view, to go over what could happen in a real way and to react properly...

17 Apr 4:34 PM 0 Read More...