Business News

China says hopes to see good results from U.S. trade talks

BEIJING (Reuters) - China hopes to see good results from trade talks with the United States, the country’s foreign ministry said on Monday, as the the latest round of negotiations began in Beijing. Ministry spokeswoman Hua Chunying made the comment at a daily news briefing. Reporting by Michael Martina; Writing by Ben Blanchard; Editing by Simon Cameron-Moore...

11 Feb 7:34 AM 0 Read More...

Al Jazeera partners with Bloomberg to expand business coverage

(Reuters) - Qatar’s Al Jazeera Media Network said on Monday it would partner with Bloomberg Media Distribution as part of a content license agreement to expand its global business news coverage. Select Bloomberg content like digital video and charts will run on Al Jazeera’s english-language digital properties, the company said. Al Jazeera’s content will also be available to Bloomberg terminal subscribers. The A...

11 Feb 7:34 AM 0 Read More...

Asian shares search for direction as U.S.-China trade talks begin

SYDNEY (Reuters) - Asian shares barely moved on Monday as investors were unable to shake worries about global growth, U.S. politics and the Sino-U.S. trade war, keeping the safe haven dollar near a six-week top against major currencies. Chinese stock indexes played catch-up when reopening after a week-long break. Gains came as the commerce ministry said retail earnings during the Lunar New Year holiday jumped 8.5 per...

11 Feb 7:34 AM 0 Read More...

IKEA accelerates services drive as competition stiffens

STOCKHOLM/NEW YORK (Reuters) - Jessica Reznik likes IKEA’s prices but not do-it-yourself. So when the Swedish furniture giant said a handyman on odd-jobs site TaskRabbit could assemble her new dresser and nightstand in her New York apartment, she jumped at the offer. Reznik, a 24-year-old teacher, is just the kind of busy millennial IKEA hoped it would attract when it bought TaskRabbit www.taskrabbit.com in Septemb...

11 Feb 7:34 AM 0 Read More...

UBS overhauls pay policy for 10,000 employees: Financial Times

(Reuters) - UBS AG (UBSG.S) has overhauled its pay policy for 10,000 staff in an attempt to reduce uncertainty about bonuses and cut the amount of time managers spend on allocating them, the Financial Times reported on Sunday. Employees working in the Swiss bank’s “corporate center”, which includes human resources, marketing and communications, will no longer receive variable bonuses, the FT said. UBS was not...

10 Feb 9:29 PM 0 Read More...

Paris seeks $14 million from Airbnb for illegal adverts

PARIS (Reuters) - The City of Paris is suing Airbnb for publishing 1,000 illegal rentals adverts, which could cost the American rental website more than 12.5 million euros ($14 million), the mayor of Paris told a newspaper in an interview published on Sunday. Under French law, home owners in Paris can rent out their places on short-term rental platforms for up to 120 days in a year. Advertisements must include a regi...

10 Feb 4:24 PM 0 Read More...

U.S. Steel wins tax breaks from one of America's poorest cities

GARY, Indiana (Reuters) - United States Steel Corporation founded Gary, Indiana in 1906 - naming it after co-founder Elbert Henry Gary - and the city’s fortunes have been closely tied to the company ever since. When the firm started losing business to cheap Asian imports in the 1970s, waves of layoffs followed as Gary became a haven of blight, crime and lost population. Last year, the city harbored hopes for a revi...

10 Feb 11:19 AM 0 Read More...

Russia's Gazprombank says Venezuela's PDVSA has not opened new accounts

MOSCOW (Reuters) - Russia’s Gazprombank said on Sunday that Venezuela’s state-run oil company PDVSA opened accounts with the bank several years ago and has not opened any accounts recently. Reuters reported on Saturday that PDVSA was telling customers of its joint ventures to deposit oil sales proceeds in an account recently opened at Gazprombank. “We stress that no new accounts have been opened and the bank do...

10 Feb 11:19 AM 0 Read More...

U.S.-China trade talks resume next week, focus on intellectual property

WASHINGTON (Reuters) - U.S. negotiators are preparing to press China next week on longstanding demands that it reform how it treats American companies’ intellectual property in order to seal a trade deal that could prevent tariffs from rising on Chinese imports. A new round of trade talks begins in Beijing on Monday, after the most recent set of negotiations concluded in Washington last week without a deal and with...

10 Feb 6:14 AM 0 Read More...

Exclusive: Venezuela shifts oil ventures’ accounts to Russian bank – document, sources

CARACAS (Reuters) – Venezuela’s state-run oil company PDVSA is telling customers of its joint ventures to deposit oil sales proceeds in an account recently opened at Russia’s Gazprombank AO, according to sources and an internal document seen by Reuters on Saturday. PDVSA’s move comes after the United States imposed tough, new financial sanctions on Jan. 28 aimed at blocking Venezuela’s President Nico...

10 Feb 4:04 AM 0 Read More...