Market News

Dow, S&P 500 edge down after Trump cancels North Korea summit; Netflix gains

Global Business News Reuters - Thu, 05/24/2018 - 15:41
NEW YORK (Reuters) - U.S. stocks mostly eased on Thursday after President Donald Trump canceled a planned summit with North Korea's Kim Jong Un and ordered a probe of auto imports, while gains in Netflix pushed its market value to a record.
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J&J must pay $4 million in punitive damages in latest asbestos cancer trial

Global Business News Reuters - Thu, 05/24/2018 - 15:22
(Reuters) - A California jury on Thursday ordered Johnson & Johnson to pay $4 million in punitive damages to a woman who said she developed cancer after being exposed to asbestos in the company's baby powder, pushing the total damages award in the case to $25.7 million.
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Deutsche Bank axes at least 7,000 jobs in trading retreat

Global Business News Reuters - Thu, 05/24/2018 - 14:47
FRANKFURT (Reuters) - Deutsche Bank is slashing more than 7,000 jobs to cut costs and restore profitability, while keeping its international reach as its new CEO seeks to reassure investors and clients.
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Tesla's Musk bashes media, proposes credibility check

Global Business News Reuters - Thu, 05/24/2018 - 14:40
(Reuters) - Tesla Inc Chief Executive Elon Musk gained the support on Thursday of more than half a million people on Twitter for plans to create a website evaluating journalists' credibility, spurred by his frustration at media reports about the electric car maker.
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Electric vehicles seen driving cobalt crunch by mid-2020s

Global Business News Reuters - Thu, 05/24/2018 - 14:20
LAS VEGAS (Reuters) - The increasing popularity of electric vehicles may create a crunch for supplies of cobalt in the early-to-mid 2020s, miners and analysts say, adding that small operators trying to start up mines outside Africa could play a bigger role over time in satisfying demand for the metal used in rechargeable batteries.
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UAW accuses Musk of threatening Tesla workers over unionization

Global Business News Reuters - Thu, 05/24/2018 - 13:47
(Reuters) - The United Auto Workers union (UAW) has filed a complaint accusing Tesla Inc Chief Executive Elon Musk of illegally threatening to take away benefits from workers who join the union.
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U.S. auto import probe fans tariff fears, riles Asia, Europe

Global Business News Reuters - Thu, 05/24/2018 - 13:46
(Reuters) - A U.S. threat that it may introduce tariffs on foreign auto imports drew strong criticism on Thursday from the country's main business lobbying group, which warned of a "staggering" blow to the industry and the prospect of a global trade war.
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Car imports probe gives GM, Ford shares tiny lift

Global Business News Reuters - Thu, 05/24/2018 - 13:39
(Reuters) - Shares of General Motors and Ford inched only marginally higher before the bell on Thursday after the Trump administration launched a national security probe into car imports which could lead to new tariffs on foreign competitors while also stirring trade tensions.
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Sanctions-hit tycoon Deripaska asks Kremlin to buy some of his aluminium: source

Global Business News Reuters - Thu, 05/24/2018 - 13:06
ST PETERSBURG, Russia/MOSCOW (Reuters) - Russian aluminium producer Rusal has asked the Russian government to purchase some of its output, a government source said on Thursday, in an effort to alleviate the pain inflicted by U.S. sanctions.
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U.S. launches auto import probe, China says will defend interests

Global Business News Reuters - Thu, 05/24/2018 - 05:25
WASHINGTON (Reuters) - The Trump administration has launched a national security investigation into car and truck imports that could lead to new U.S. tariffs similar to those imposed on imported steel and aluminum in March.
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General Electric's power unit fights for growth as wind, solar gain

Global Business News Reuters - Thu, 05/24/2018 - 05:18
NEW YORK (Reuters) - Vistra Energy Corp and Dominion Energy Inc – which serve about 5.5 million electricity customers in more than a dozen U.S. states – both say they are done building combined-cycle natural gas-fired power plants.
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Tariff fears hit car shares, lira back on the rack

Global Business News Reuters - Thu, 05/24/2018 - 05:15
LONDON (Reuters) - World shares crept higher on Thursday as cars become the latest focus of U.S. protectionism worries, while Turkey's lira slumped back after a huge emergency interest rate hike failed to stem its problems.
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Investor Elliott's stake raises pressure on Thyssenkrupp CEO

Global Business News Reuters - Thu, 05/24/2018 - 04:53
FRANKFURT/BERLIN (Reuters) - Activist hedge fund Elliott said on Thursday it would step up pressure on Thyssenkrupp's leadership to revive the German industrial conglomerate's fortunes, confirming it had taken a stake of less than 3 percent.
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Procter & Gamble commits to Russia despite rising risks

Global Business News Reuters - Thu, 05/24/2018 - 03:51
MOSCOW (Reuters) - U.S. consumer goods group Procter & Gamble (P&G) will keep investing in Russian plants in 2018 and beyond, reaffirming its commitment to the market despite political risks.
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EU competition chief Vestager to announce antitrust decision on Thursday

Global Business News Reuters - Thu, 05/24/2018 - 03:01
BRUSSELS (Reuters) - European Commissioner for Competition Margrethe Vestager will hold a news conference on Thursday to announce an antitrust decision, which is expected to be on Gazprom .
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China's Premier Li says China and Germany uphold free trade

Global Business News Reuters - Thu, 05/24/2018 - 01:51
BEIJING (Reuters) - China's Premier Li Keqiang said on Thursday China has always supported a unified and prosperous Europe and that China and Germany uphold free trade.
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Trump urges a new 'structure' for U.S.-China trade deal

Global Business News Reuters - Thu, 05/24/2018 - 00:45
WASHINGTON (Reuters) - U.S. President Donald Trump has signaled a new direction in U.S.-China trade talks and said any deal would need "a different structure," fueling uncertainty over current negotiations.
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Rusal CEO, board members quit as company warns on debt payments

Global Business News Reuters - Thu, 05/24/2018 - 00:05
HONG KONG (Reuters) - Russia's largest aluminum producer, United Company Rusal Plc , said on Thursday its chief executive and seven board members have quit, and warned it may have problems servicing its debt due to the impact of U.S. sanctions.
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China says has not promised to cut trade surplus with U.S. by a certain amount

Global Business News Reuters - Wed, 05/23/2018 - 22:46
BEIJING (Reuters) - China's Commerce Ministry said on Thursday that it had not pledged to cut the country's trade surplus with the United States by a certain figure, and hopes the United States implements measures promised during trade negotiations as soon as possible.
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United Air CEO grilled over NRA discount, workers rights at annual meeting

Global Business News Reuters - Wed, 05/23/2018 - 22:09
CHICAGO (Reuters) - United Airlines executives faced questions about ending its discount for a gun rights group and how it treats its workers at the carrier's annual shareholders meeting on Wednesday.
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