Market News

'There is no free lunch', Macron tells tech giant CEOs

Global Business News Reuters - Wed, 05/23/2018 - 09:48
PARIS (Reuters) - President Emmanuel Macron told executives from the world's biggest technology firms on Wednesday that he wanted innovation to be a driving force for the French economy, but also that they needed to contribute more to society.
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U.S.-China trade deal 'too hard to get done,' Trump says

Global Business News Reuters - Wed, 05/23/2018 - 08:29
WASHINGTON (Reuters) - U.S. President Donald Trump on Wednesday signaled a new direction in U.S. and China's trade talks, saying the current track appeared "too hard to get done" and that any possible deal needed "a different structure."
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Comcast prepares to challenge Disney for Fox assets

Global Business News Reuters - Wed, 05/23/2018 - 08:27
(Reuters) - Comcast Corp on Wednesday confirmed that it is considering and is in advanced stages of preparing an offer for the businesses that Twenty-First Century Fox has agreed to sell to Walt Disney Co .
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Tesla Model 3 registrations zip past rivals in California

Global Business News Reuters - Wed, 05/23/2018 - 08:20
(Reuters) - Tesla Inc's Model 3 sedan recorded more registrations in California than its class rivals BMW 3-Series and Mercedes C-Class in the first quarter, according to a report by the California New Car Dealers Association (CNCDA). Model 3 registrations totaled 3,723, or 14.3 percent of the near-luxury segment, compared with 3,323 for the Mercedes variant and 3,260 for the BMW model, the CNCDA report said.
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Small banks trump Wall Street on Dodd-Frank rewrite

Global Business News Reuters - Wed, 05/23/2018 - 08:16
WASHINGTON (Reuters) - Congress on Tuesday rolled back some of the restraints imposed on banks after the 2007-2009 global financial crisis, but big players like Goldman Sachs Group Inc , Morgan Stanley and JPMorgan Chase & Co , will not be breaking out the champagne.
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Stock futures dip as Trump's comments spark trade talk uncertainty

Global Business News Reuters - Wed, 05/23/2018 - 07:57
(Reuters) - U.S. stock index futures were lower on Wednesday on fresh uncertainty over U.S.-China trade talks and ahead of a Federal Reserve report that would be watched for cues on pace of future interest rate hikes.
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Consumer groups ask U.S. agency to probe Tesla 'Autopilot' ads

Global Business News Reuters - Wed, 05/23/2018 - 07:38
SAN FRANCISCO (Reuters) - Two U.S. consumer advocacy groups urged the Federal Trade Commission on Wednesday to investigate what they called Tesla Inc's "deceptive and misleading" use of the name Autopilot for its assisted-driving technology.
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Tesla trims up to $14,000 off Model X in China after tariff cuts

Global Business News Reuters - Wed, 05/23/2018 - 06:51
BEIJING (Reuters) - Tesla Inc has slashed up to $14,000 off its Model X in China after Beijing announced major tariff cuts for imported automobiles, a potential sales boost for the U.S. firm as the world's largest auto market pivots towards electric cars.
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Staff reject Macron rail reform in 'referendum', unions say

Global Business News Reuters - Wed, 05/23/2018 - 05:24
PARIS (Reuters) - Workers at France's state-owned SNCF rail company on Wednesday resoundingly rejected President Emmanuel Macron's planned overhaul of the railways in an internal ballot organized by labor unions.
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Trump floats management changes instead of sanctions for China's ZTE

Global Business News Reuters - Wed, 05/23/2018 - 05:24
WASHINGTON (Reuters) - U.S. President Donald Trump on Tuesday floated a plan to fine ZTE Corp and shake up its management as his administration considered rolling back more severe penalties that have crippled the Chinese telecommunications company.
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Trade and growth fears spark dash for safe havens

Global Business News Reuters - Wed, 05/23/2018 - 05:14
LONDON (Reuters) - Investors sold equities on Wednesday and raced to buy yen and government bonds from the United States and Germany on fears that setbacks to U.S-China trade talks would undermine increasingly fragile-looking world growth.
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India court halts expansion of Vedanta's copper smelter after protests

Global Business News Reuters - Wed, 05/23/2018 - 05:06
CHENNAI/MUMBAI (Reuters) - An Indian court halted the proposed expansion of Vedanta Resources Plc copper smelter on Wednesday where a day earlier 11 people were killed when police fired on protesters seeking closure of the plant on environmental grounds.
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Why Caterpillar can't keep up with a boom in demand

Global Business News Reuters - Wed, 05/23/2018 - 02:43
EAST PEORIA, Ill. (Reuters) - Orders for the mining machines and construction bulldozers made at this sprawling Caterpillar Inc. factory in central Illinois have jumped, in general, three-fold over the past year.
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India's Vedanta hits over 10-month low as protests against copper plant turn violent

Global Business News Reuters - Wed, 05/23/2018 - 01:09
(Reuters) - Shares of Vedanta Ltd fell to their lowest since July 5, 2017, after at least nine people were killed in the southern state of Tamil Nadu when police fired at violent protesters calling for the closure of a copper smelter run by parent Vedanta Resources Plc .
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Wynn shareholders reject executive compensation plan

Global Business News Reuters - Wed, 05/23/2018 - 00:19
(Reuters) - Shareholders of casino operator Wynn Resorts Ltd voted against the company's executive compensation plan at its annual meeting last week, Wynn said in a regulatory filing late on Tuesday.
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Asian shares pressured as Trump tempers Sino-U.S. trade optimism

Global Business News Reuters - Tue, 05/22/2018 - 23:45
TOKYO (Reuters) - Asian shares were mostly weak on Wednesday with investors cautious after U.S. President Donald Trump tempered optimism over progress made so far in trade talks between the world's two largest economic powers. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2 percent, while Japan's Nikkei lost as much as 1.4 percent to hit a 1-1/2-week low and the Shanghai Composite Index retreated 0.6 percent.
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China's ZTE estimates at least $3.1 billion loss from U.S. sanctions: Bloomberg

Global Business News Reuters - Tue, 05/22/2018 - 22:37
BEIJING (Reuters) - China's ZTE Corp is estimating losses of at least 20 billion yuan ($3.1 billion) due to Washington's ban on U.S. firms supplying the telecommunications firm, Bloomberg reported on Wednesday, citing unnamed sources.
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Consumer Reports to retest Tesla Model 3 after brake fix

Global Business News Reuters - Tue, 05/22/2018 - 19:24
(Reuters) - Consumer Reports said Tuesday it will retest brakes on Tesla Inc's new Model 3 sedans after Chief Executive Elon Musk promised a software update, but the potential hit to sales from the magazine's negative review weighed on Tesla shares.
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EU doubts if offer can prevent Trump tariffs or steel caps

Global Business News Reuters - Tue, 05/22/2018 - 18:05
BRUSSELS (Reuters) - European Union proposals to open its markets wider to U.S. products, including cars, appear not to have persuaded Washington to lift the threat of import tariffs on EU steel and aluminium, the bloc's trade chief said on Tuesday.
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Workers hit McDonald's with new sexual harassment claims

Global Business News Reuters - Tue, 05/22/2018 - 17:38
LOS ANGELES/NEW YORK (Reuters) - Ten women who work at McDonald's restaurants in Detroit, Chicago, Los Angeles and six other cities have filed sexual harassment complaints in the past few days with the federal government against the company and its franchisees, which they said ignored or retaliated against them for such complaints.
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