Business News

Few tears shed by French workers after Macron's Alstom dream is blocked

BELFORT, France (Reuters) - After four decades on the production line at French trainmaker Alstom, Claude Gemino had little sympathy for Emmanuel Macron when Brussels scotched the French president’s hopes of creating a European rail champion. For Gemino and many co-workers at Alstom’s Belfort factory, Macron’s support for the blocked merger with Germany’s Siemens signaled a readiness to put shareholders ahead...

12 Feb 8:49 AM 0 Read More...

Oil prices rise on OPEC output cuts, as U.S. sanctions bite

SINGAPORE (Reuters) - Oil prices rose on Tuesday amid OPEC-led supply cuts and U.S. sanctions against Iran and Venezuela, although analysts expect surging U.S. production and concerns over economic growth to keep markets in check. U.S. West Texas Intermediate (WTI) crude oil futures were at $52.78 per barrel at 0329 GMT, up 37 cents, or 0.7 percent, from their last close. The ongoing closure of parts of the Keystone ...

12 Feb 3:44 AM 0 Read More...

Asian stocks edge up, U.S. futures rise on hope for no U.S. government shutdown

TOKYO (Reuters) - Asian shares edged up on Tuesday as investors hoped a new round of U.S.-China trade talks would help to resolve a dispute that’s dented global growth and some corporate earnings. Improving market sentiment was news that U.S. lawmakers reached a tentative deal on border security funding that would avert another partial government shutdown due to start on Saturday. The S&P 500 e-mini futures wer...

12 Feb 3:44 AM 0 Read More...

Apple iPhone sales in China fell by a fifth in fourth quarter: IDC

(Reuters) - Apple Inc iPhone sales in China fell 20 percent year-on-year in the fourth quarter of 2018, while sales for smartphones made by home-grown rival Huawei soared by 23 percent, data from industry research firm IDC showed on Monday. The report is the first to put a firm number on the scale of a recent decline in Apple’s fortunes in the world’s second largest economy, after Chief Executive Officer Tim Cook...

11 Feb 10:44 PM 0 Read More...

Wall Street treads water, eyes on U.S.-China trade talks

(Reuters) - Wall Street struggled for direction on Monday, with investors taking a pause as the United States and China began their latest trade negotiations and U.S. lawmakers tried to reach a deal on border funding. The market started on a strong note over the trade talks after China’s upbeat tone, with sentiment lifted by White House senior counselor Kellyanne Conway expressing confidence of a possible deal. The...

11 Feb 5:39 PM 0 Read More...

Altria to tap European bond market to help fund Juul stake buy

(Reuters) - Altria Group will tap the European investment grade corporate bond market to help finance its $12.8 billion purchase of a stake in e-cigarette maker Juul Labs Inc, the Marlboro maker said in a regulatory filing bit.ly/2thLVTO on Monday. The tobacco company said it would issue the bonds in four tranches in denominations of 100,000 euros as it looks to prepay a term loan arranged by JPMorgan Chase & Co...

11 Feb 5:39 PM 0 Read More...

CalSTRS backs new activist hedge fund Impactive with $250 million

(Reuters) - The California State Teachers’ Retirement System (CalSTRS), the second largest U.S. pension fund said on Monday it made a $250 million investment with Impactive Capital, a new activist hedge fund that expects to start trading next month. CalSTRS, which invests $215 billion on behalf of the state’s educators, puts money into only a handful of hedge funds, typically favoring activists that engage with c...

11 Feb 5:39 PM 0 Read More...

T. Rowe Price nearly halves stake in Tesla to 5.2 percent: filing

(Reuters) - Tesla Inc shareholder T. Rowe Price Group Inc had a 5.2 percent stake in the electric car maker as of end-December, roughly half its earlier stake, a regulatory filing here showed on Monday. As of September, the fund manager had a 10.12 percent stake in Tesla. Shares of Tesla were up 3 percent at $315.16 in morning trading. Reporting by Sonam Rai in Bengaluru; Editing by Sai Sachin Ravikumar...

11 Feb 5:39 PM 0 Read More...

Startup Nuro raises $940 million from SoftBank’s Vision Fund

(Reuters) – Autonomous technology startup Nuro said on Monday it has raised $940 million from SoftBank’s Vision Fund, which valued the Silicon Valley-based company at $2.7 billion. Nuro, co-founded by two former engineers from Google’s self-driving car project, Dave Ferguson and Jiajun Zhu, last year launched a self-driving delivery vehicle that can run errands from picking up groceries to delivering di...

11 Feb 3:29 PM 0 Read More...

Stocks inch higher as investors look ahead to trade talks, Brexit

LONDON (Reuters) - World stock markets edged higher on Monday, as investors eyed the resumption of trade talks between the United States and China and watched for signs of progress on Brexit. European markets took their cue from a 1 percent bounce in Chinese shares, which resumed trading after the week-long Lunar New Year holiday. The pan-European STOXX 600 index rebounded from one-week lows, helped by some deal-mak...

11 Feb 12:39 PM 0 Read More...