Business News

Luckin Coffee files for U.S. IPO

(Reuters) - China’s Luckin Coffee Inc on Monday filed for an initial public offering with the U.S. Securities and Exchange Commission. The coffee chain, which intends to list under the symbol "LK" on the Nasdaq, set a placeholder amount of $100 million to indicate the size of the IPO, a filing with the regulator showed. (bit.ly/2UtnC0g) The size of the IPO stated in preliminary filings is used to calculate registra...

22 Apr 5:34 PM 0 Read More...

U.S. home sales tumble as supply constraints linger

WASHINGTON (Reuters) - U.S. home sales fell more than expected in March as rising demand stoked by declining mortgage rates and slowing house price inflation continued to be frustrated by a lack of properties, especially in the lower-priced segment of the market. The report from the National Association of Realtors (NAR) on Monday could temper expectations of a strong spring selling season that had been bolstered by ...

22 Apr 5:34 PM 0 Read More...

Halliburton says pricing woes bottoming out as U.S. activity rises

(Reuters) - Halliburton Co said on Monday a pricing downturn that has plagued the oilfield services sector was bottoming out, as it reported modestly higher activity levels in North America in the first quarter from a year earlier. Oilfield services providers have been struggling with a tightening of spending by U.S. oil producers as they rein in new drilling in response to shareholder pressure for greater returns af...

22 Apr 12:30 PM 0 Read More...

Futures pull back ahead of earnings; oil stocks jump

(Reuters) - U.S. stock index futures dipped on Monday as investors returned from their Easter break and took a cautious stance at the beginning of what is expected to be the busiest week of the first-quarter earnings season. The S&P 500 closed slightly lower last week, ending its three-week winning streak, but hovered about 1% away from a record high hit in September on U.S.-China trade hopes and a largely upbeat...

22 Apr 12:30 PM 0 Read More...

Ghosn lawyer requests bail after ex-Nissan chairman indicted for fourth time

TOKYO (Reuters) - Japanese prosecutors indicted Carlos Ghosn on Monday on another charge of aggravated breach of trust, a Tokyo court said, the fourth charge against the former Nissan Motor Co Ltd chairman, which his lawyers met immediately with a bail request. The charge came on the day Ghosn’s latest detention period was set to expire. Ghosn had been out on bail when authorities arrested him for a fourth time on ...

22 Apr 12:30 PM 0 Read More...

Factbox: Elon Musk on Tesla's self-driving capabilities

(Reuters) - Tesla Inc will focus on its autonomous driving system when it hosts its investor day on Monday. Elon Musk, the electric vehicle company’s chief executive officer, has touted the company’s self-driving capabilities over the years, highlighting its semi-autonomous Autopilot system. Tesla began offering a feature described as “Full Self-Driving Capability” in 2016. The company instructs drivers to ke...

22 Apr 12:30 PM 0 Read More...

Nissan to reject new integration proposal from Renault - Nikkei

(Reuters) - Nissan Motor Co Ltd will reject a management integration proposal from French partner Renault SA and will call for an equal capital relationship, Nikkei said on Monday, citing sources. Nissan’s management feels the Japanese company has not been treated as an equal of Renault under existing capital ties, and a merger would make this inequality permanent, Nikkei said. Renault has argued in its proposal th...

22 Apr 12:30 PM 0 Read More...

Ex-Nissan Chairman Ghosn indicted on aggravated breach of trust charge

TOKYO (Reuters) - Japanese prosecutors indicted former Nissan Motor Co Chairman Carlos Ghosn on Monday on a charge of aggravated breach of trust, a Tokyo court said, bringing a fourth charge against him on the day his detention period was set to expire. Ghosn’s lawyers filed a request for bail shortly after the latest indictment, which comes after authorities arrested him on April 4 for the fourth time, on suspicio...

22 Apr 7:24 AM 0 Read More...

Oil prices climb as U.S. set to end Iran sanction waivers

SINGAPORE (Reuters) - Oil prices jumped on Monday as the United States looked set to announce that all buyers of Iranian oil must end their imports or be subject to sanctions. Brent crude futures rose as much as 3.3 percent to $74.31 a barrel, the highest since Nov. 1, before easing back to $73.62 by 0647 GMT, which was still up 2.3 percent from their last close. U.S. West Texas Intermediate (WTI) crude futures climb...

22 Apr 7:24 AM 0 Read More...

Ex-Nissan chairman Ghosn applies for bail over latest indictment

TOKYO (Reuters) - Carlos Ghosn on Monday applied for bail following his latest indictment over aggravated breach of trust, as the former Nissan Motor Co chairman fights his fourth indictment over financial misconduct. Ghosn’s defense team filed the bail request shortly after the indictment was announced, a Tokyo court said in a statement. The former executive faces three other charges including understating his in...

22 Apr 7:24 AM 0 Read More...