CHICAGO (Reuters) – Boeing Co (BA.N) has settled more than half of some 118 claims related to the fatal crash of a Lion Air flight on a 737 MAX aircraft in October 2018, attorney Dan Webb said at a court hearing on Thursday. FILE PHOTO: Rescue workers load up recovered debris of Lion Air flight […]
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WeWork to lay off 2,400 employees in SoftBank revamp
NEW YORK (Reuters) – WeWork said on Thursday it is laying off around 2,400 employees globally, as the office-sharing company seeks to drastically cut costs and stabilize its business after it transformed from a Wall Street darling into a pariah in a matter of weeks. The long-anticipated layoffs are the biggest move yet by Japanese […]
Read MoreSaudi Aramco order book reaches 73 billion riyals so far: Samba
RIYADH/DUBAI (Reuters) – Saudi Aramco’s initial public offering (IPO) has attracted approximately 73 billion riyals ($19.47 billion) in institutional and retail orders so far, Saudi Arabia’s Samba Financial Group said on Thursday. FILE PHOTO: Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov Some 1.8 million […]
Read MoreU.S. grants final approval for expanded Delta, Air France, Virgin, KLM JV
FILE PHOTO: A Delta Air Lines flight is pushed put of its gate at the airport in Salt Lake City, Utah, U.S., January 12, 2018. REUTERS/Mike Blake WASHINGTON (Reuters) – U.S. Transportation Secretary Elaine Chao on Thursday granted final approval for an expanded trans-Atlantic joint venture for Delta Air Lines Inc (DAL.N), Air France KLM […]
Read MoreSchwab-TD Ameritrade deal shows Trump rule-easing boon for financial M&A
WASHINGTON (Reuters) – A possible purchase by brokerage giant Charles Schwab Corp. (SCHW.N) of rival TD Ameritrade (AMTD.O) reflects a more relaxed mood under Trump administration regulators, which has helped unleash other big-ticket takeovers in the financial sector, analysts said. FILE PHOTO: A Charles Schwab office is shown in Los Angeles, California January 29, 2016. […]
Read MoreApple, Intel file antitrust case vs SoftBank-owned firm over patent practices
SAN FRANCISCO (Reuters) – Apple Inc (AAPL.O) and Intel Corp (INTC.O) on Wednesday filed an antitrust lawsuit against Fortress Investment Group, alleging the SoftBank Group Corp (9984.T) unit stockpiled patents to hold up tech firms with lawsuits demanding as much as $5.1 billion. FILE PHOTO: The Apple Inc. logo is seen hanging at the Apple […]
Read MoreVivendi ready to sell part of Mediaset stake at a loss to end legal row: sources
MILAN (Reuters) – French media group Vivendi (VIV.PA) is prepared to sell part of its stake in Mediaset (MS.MI) at a loss in an attempt to reach a deal to end years of bitter legal disputes with the Italian broadcaster, two sources close to the matter said on Thursday. A man stands as a woman […]
Read MoreExclusive: Exxon aims to sell $25 billion of assets to focus on mega-projects – sources
LONDON (Reuters) – Exxon Mobil (XOM.N) plans to sell up to $25 billion of oil and gas fields in Europe, Asia and Africa in its biggest asset sales for decades, seeking to free up cash to focus on a handful of mega-projects, according to three banking sources. FILE PHOTO: A logo of Exxon Mobil Corp […]
Read MoreWall Street muted on doubts over progress in U.S.-China trade deal
(Reuters) – The S&P 500 and Dow indexes treaded water on Thursday as mixed headlines on U.S-China trade relations and a diplomatic row over the Hong Kong protests added to uncertainty over the timing of a “phase one” deal. Traders work on the floor of the New York Stock Exchange shortly after the opening bell […]
Read MoreSaudi Aramco IPO raises 73 billion riyals so far: Samba
FILE PHOTO: Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov RIYADH/DUBAI (Reuters) – Saudi Aramco’s initial public offering (IPO) has attracted approximately 73 billion riyals ($19.47 billion) in institutional and retail orders so far, Saudi Arabia’s Samba Financial Group said on Thursday. Some 1.8 million […]
Read MoreG20 has put up ‘historically high levels’ of trade barriers: WTO
FILE PHOTO: The World Trade Organization (WTO) headquarters are pictured in Geneva, Switzerland, July 26, 2018. REUTERS/Denis Balibouse/File Photo GENEVA (Reuters) – G20 economies slapped on 28 new barriers between mid-May and mid-October covering trade worth an estimated $460.4 billion, mainly via tariff increases and import bans, the World Trade Organization said on Thursday. The […]
Read MoreVivendi ready to sell part of Mediaset stake at a loss to reach deal: source
FILE PHOTO: The Vivendi logo is pictured in Paris, March 10, 2016. REUTERS/Charles Platiau/File Photo MILAN (Reuters) – French media group Vivendi (VIV.PA) is prepared to sell part of its stake in Mediaset (MS.MI) at a loss in an attempt to reach an accord to end years of bitter legal disputes with the Italian broadcaster, […]
Read MoreUnited Auto Workers union to name new president as U.S. corruption probe widens
(Reuters) – The United Auto Workers union international executive board will meet to name a new president, the union said on Thursday, a day after the previous president resigned following 17 months in office, but union officials said a date for the meeting had not been set. FILE PHOTO: United Auto Workers (UAW) union President […]
Read MoreWall Street slips on conflicting headlines on U.S.-China trade
(Reuters) – Wall Street’s main indexes fell on Thursday after conflicting headlines on U.S.-China trade relations and a row between the world’s top two economies over the Hong Kong protest added to doubts whether a deal could be reached by the end of this year. Traders work on the floor of the New York Stock […]
Read MoreGM’s electric pickup truck to go on sale fall 2021: CEO
FILE PHOTO: Mary Teresa Barra , Chairwoman and CEO of General Motors Company attends the unveiling its redesigned mid-engine C8 Corvette, the 2020 Chevrolet Corvette Stingray, in Tustin, California,U.S., July 18, 2019. REUTERS/Mike Blake DETROIT (Reuters) – General Motors Co’s (GM.N) first electric pickup truck model will go on sale in the fall of 2021, […]
Read MoreExplainer: How would a Schwab-TD Ameritrade deal affect retail investors?
FILE PHOTO: A TD Ameritrade sign glows at the entrance to a branch in the financial district in New York February 29, 2016. REUTERS/Brendan McDermid/File Photo NEW YORK (Reuters) – U.S. discount broker Charles Schwab Corp. (SCHW.N) is in talks to buy rival TD Ameritrade (AMTD.O) in a $26 billion deal that would create an […]
Read MorePot stocks soar as U.S. House committee clears bill on federal weed legalization
(Reuters) – Shares of marijuana companies rose on Thursday after a U.S. congressional committee passed a legislation to decriminalize cannabis, taking it a step closer to being approved by the Democratic-controlled House of Representatives. A marijuana leaf is displayed at a medical marijuana dispensary in Seattle, Washington, in a file photo. REUTERS/Anthony Bolante The bill, […]
Read MoreU.S. labor market, manufacturing data point to slowing economy
WASHINGTON (Reuters) – The number of Americans filing applications for unemployment benefits was unexpectedly unchanged at a five-month high last week, suggesting some softening in the labor market. FILE PHOTO: Job seekers and recruiters gather at TechFair in Los Angeles, California, U.S. March 8, 2018. REUTERS/Monica Almeida -/File Photo While other data on Thursday showed […]
Read MoreGlobal stocks, dollar slip as reports kindle trade deal hopes
NEW YORK (Reuters) – The U.S. dollar and global equity markets edged lower on Thursday as efforts by China to smooth the path forward in U.S.-Sino trade talks was offset by concerns tensions between the world’s two largest economies were too large to quickly overcome. Traders work on the floor of the New York Stock […]
Read MoreMacy’s cut profit outlook after weak quarter; confident for holiday
(Reuters) – Macy’s Inc (M.N) cut its annual profit forecast for the second time this year on Thursday, as the department store operator blamed weak international tourism, warm weather and sluggish mall traffic for the first drop in same-store sales in two years. Shares fell 3% in morning trading. The company was the second major […]
Read MoreUber denies report it in talks with Germany’s Wirecard
FILE PHOTO: A screen displays the company logo for Uber Technologies Inc. on the day of it’s IPO at the New York Stock Exchange (NYSE) in New York, U.S., May 10, 2019. REUTERS/Brendan McDermid/File Photo BERLIN (Reuters) – Ride hailing company Uber denied a German magazine report on Thursday that it was considering hiring Wirecard […]
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WeWork axes 2,400 staff globally
Image copyright Getty Images Office rental company WeWork is cutting about 2,400 jobs globally in an effort to staunch its growing losses. The move follows the dramatic collapse of WeWork’s plans to raise money by listing shares on the stock market. WeWork called the cuts “necessary” in order to “create a more efficient organisation”. The […]
Read MoreWeWork to lay off 2,400 employees globally in SoftBank revamp
NEW YORK (Reuters) – WeWork said on Thursday it is laying off around 2,400 employees globally, as the office-sharing company seeks to drastically cut costs and stabilize its business after it transformed from a Wall Street darling into a pariah in a matter of weeks. FILE PHOTO: A WeWork logo is seen outside its offices […]
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