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Musk's Boring Company wins bid to build high-speed system in Chicago

Global Business News Reuters - Thu, 06/14/2018 - 05:30
(Reuters) - The City of Chicago has selected billionaire entrepreneur Elon Musk's The Boring Company to build a high-speed underground commuter system from the Loop to O'Hare International Airport, one of the world's busiest, media reported on Wednesday.
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Embattled ZTE seeks $10.7 billion credit line, nominates 8 board members

Global Business News Reuters - Thu, 06/14/2018 - 04:08
HONG KONG (Reuters) - Chinese telecommunications giant ZTE Corp has proposed a $10.7 billion financing plan and nominated eight board members in a drastic management overhaul, as it seeks to rebuild a business crippled by a U.S. supplier ban.
Categories: Global news, Market News

Rolls-Royce to cut 4,600 jobs in latest CEO drive to generate cash

Global Business News Reuters - Thu, 06/14/2018 - 02:58
LONDON (Reuters) - Britain's Rolls-Royce said it would cut 4,600 jobs to save 400 million pounds a year in the latest attempt by CEO Warren East to simplify the business and generate more cash.
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Asian shares slip on Fed hike, trade fears and soft China data

Global Business News Reuters - Thu, 06/14/2018 - 02:37
TOKYO (Reuters) - Asian shares eased on Thursday after the Federal Reserve raised interest rates and struck a more hawkish tone by forecasting a slightly faster tightening, while concerns about weak Chinese data and U.S.-China trade frictions kept investors on edge.
Categories: Global news, Market News

U.S. energy firms chasing oil price rally stumble on old baggage

Global Business News Reuters - Thu, 06/14/2018 - 01:58
NEW YORK (Reuters) - With oil price recovery taking hold, several U.S. oil and gas companies entered 2018 with a compelling plan - sell undeveloped or less essential fields and invest the money to boost returns from their sweetest, most productive spots.
Categories: Global news, Market News

Renault's Ghosn likely to step down as CEO before term ends: Financial Times

Global Business News Reuters - Thu, 06/14/2018 - 01:31
(Reuters) - Renault SA's Carlos Ghosn is likely to step down as chief executive of the French carmaker before the end of his term in 2022, the Financial Times reported on Thursday.
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Embattled ZTE proposes $10.7 billion credit proposal, new board

Global Business News Reuters - Thu, 06/14/2018 - 01:24
HONG KONG (Reuters) - Chinese telecommunications giant ZTE Corp has proposed a $10.7 billion financing plan and nominated eight board members in a drastic management overhaul, as it seeks to rebuild a business crippled by a U.S. supplier ban.
Categories: Global news, Market News

Exclusive: Microsoft takes aim at Amazon with push for checkout-free retail

Global Business News Reuters - Thu, 06/14/2018 - 01:07
SAN FRANCISCO (Reuters) - Microsoft Corp is working on technology that would eliminate cashiers and checkout lines from stores, in a nascent challenge to Amazon.com Inc's automated grocery shop, six people familiar with the matter told Reuters.
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Apple to undercut popular law-enforcement tool for cracking iPhones

Global Business News Reuters - Wed, 06/13/2018 - 22:11
SAN FRANCISCO (Reuters) - Apple Inc said on Wednesday it will change its iPhone settings to undercut the most popular means for law enforcement to break into the devices.
Categories: Global news, Market News

Fed lifts rates amid stronger inflation, drops crisis-era guidance

Global Business News Reuters - Wed, 06/13/2018 - 21:46
WASHINGTON (Reuters) - The Federal Reserve raised interest rates on Wednesday, a move that was widely expected but still marked a milestone in the U.S. central bank's shift from policies used to battle the 2007-2009 financial crisis and recession.
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Asian shares down on Fed hike, Sino-U.S. trade anxiety

Global Business News Reuters - Wed, 06/13/2018 - 21:29
TOKYO (Reuters) - Asian shares edged down on Thursday after the Federal Reserve raised interest rates and took a more hawkish tone in forecasting a slightly faster pace of tightening for the rest of the year, while concerns about U.S.-China trade frictions kept investors on edge.
Categories: Global news, Market News

Oil prices fall as U.S. crude production hits another record

Global Business News Reuters - Wed, 06/13/2018 - 21:06
SINGAPORE (Reuters) - Oil prices eased on Thursday, dragged down by rising output, although strong demand and a drop in U.S. fuel inventories provided the market with some support.
Categories: Global news, Market News

Fed-driven dollar rally fades, focus shifts to ECB meeting

Global Business News Reuters - Wed, 06/13/2018 - 21:01
TOKYO (Reuters) - The dollar slipped back from three-week highs against the yen on Thursday, quickly erasing gains made after the Federal Reserve took a slightly more hawkish policy tone in signaling two more rate hikes by year-end thanks to a solid outlook for the world's biggest economy.
Categories: Global news, Market News

Comcast offers $65 billion to lure Fox from Disney bid

Global Business News Reuters - Wed, 06/13/2018 - 19:50
(Reuters) - Comcast Corp offered $65 billion on Wednesday to lure Twenty-First Century Fox Inc away from a merger with Walt Disney Co , setting up a bidding war between two of the largest U.S. media companies with its 20 percent higher offer.
Categories: Global news, Market News

Trump to meet with top trade advisers on activation of China tariffs: source

Global Business News Reuters - Wed, 06/13/2018 - 19:32
WASHINGTON (Reuters) - U.S. President Donald Trump will meet with his top trade advisers on Thursday to decide whether to activate threatened tariffs on billions of dollars in Chinese goods, a senior Trump administration official said.
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Comcast prepares financing for 21st Century Fox buy

Global Business News Reuters - Wed, 06/13/2018 - 19:31
NEW YORK (IFR) - Comcast says it has "Highly Confident Letters" from Bank of America Merrill Lynch and Wells Fargo for its US$65bn 21st Century Fox bid.
Categories: Global news, Market News

Exclusive: Venezuela eyes first-ever refining of foreign oil - documents

Global Business News Reuters - Wed, 06/13/2018 - 19:22
HOUSTON (Reuters) - Venezuela is considering producing fuels from foreign crude oil for the first time, according to planning documents seen by Reuters, as the country struggles to meet its obligations despite having the world's largest crude reserves.
Categories: Global news, Market News

Facebook used less for news as youngsters turn to WhatsApp: Reuters Institute

Global Business News Reuters - Wed, 06/13/2018 - 19:03
LONDON (Reuters) - The use of social media networks such as Facebook to consume news has started to fall in the United States as many young people turn toward messaging apps such as Facebook-owned WhatsApp to discuss events, the Reuters Institute found.
Categories: Global news, Market News

Wall Street falls as Fed signals two more hikes this year

Global Business News Reuters - Wed, 06/13/2018 - 17:37
(Reuters) - U.S. stocks ended a choppy session lower on Wednesday after the U.S. Federal Reserve raised interest rates as expected and projected a slightly faster pace of rate hikes this year.
Categories: Global news, Market News

Elon Musk buys 72,500 of Tesla shares

Global Business News Reuters - Wed, 06/13/2018 - 16:25
(Reuters) - Tesla Inc Chief Executive Officer Elon Musk bought 72,500 shares of the company's common stock, a regulatory filing http://bit.ly/2t4K2sY showed on Wednesday.
Categories: Global news, Market News
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