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Exclusive: Exxon Mobil breaks with past, bulks up energy trading to boost profit

Global Business News Reuters - Tue, 06/12/2018 - 01:13
HOUSTON (Reuters) - Exxon Mobil Corp is pushing deeper into energy trading, building a global cadre of experienced traders and beefing up risk-management systems to lift profit, according to executive recruiters and people familiar with the business.
Categories: Global news, Market News

With rate hike in the bag, focus turns to Fed's policy language

Global Business News Reuters - Tue, 06/12/2018 - 01:04
WASHINGTON (Reuters) - With the Federal Reserve virtually guaranteed to raise interest rates this week, investors are focused on how the U.S. central bank characterizes its monetary policy as borrowing costs return to more normal levels amid an ongoing economic expansion.
Categories: Global news, Market News

Huawei patent case shows Chinese courts' rising clout

Global Business News Reuters - Mon, 06/11/2018 - 22:45
(Reuters) - A smartphone patent fight between Huawei Technologies Co Ltd and Samsung Electronics Co could reach a global resolution through a ruling by a Chinese court, a development that reflects the growing attractiveness of China as a quick and effective forum for intellectual property disputes.
Categories: Global news, Market News

Worker testifies that Tesla stopped him from organizing union

Global Business News Reuters - Mon, 06/11/2018 - 22:14
OAKLAND, Calif (Reuters) - A Tesla Inc employee organizing a union was asked by a supervisor and company security guards to leave the factory after handing out pro-union flyers, the worker said at a National Labor Relations Board (NLRB) hearing on Monday over whether Tesla had violated federal safeguards for employee activity.
Categories: Global news, Market News

Hurt in past by false dawns, Chinese businessman is wary of bets on North Korea opening up

Global Business News Reuters - Mon, 06/11/2018 - 20:56
DANDONG, China (Reuters) - Property speculators in China may be betting that Tuesday's U.S.-North Korea summit is poised to unlock riches across the border but Chinese construction machinery dealer Wang Chenglin is far from convinced.
Categories: Global news, Market News

U.S. reveals ZTE settlement details, ban still in place

Global Business News Reuters - Mon, 06/11/2018 - 18:54
WASHINGTON (Reuters) - ZTE Corp's settlement with the U.S. Commerce Department that would allow China's No. 2 telecommunications equipment maker to resume business with U.S. suppliers was made public on Monday, days after the company agreed to pay a $1 billion fine, overhaul its leadership and meet other conditions.
Categories: Global news, Market News

Automation could thin Citigroup's investment banking unit jobs: FT

Global Business News Reuters - Mon, 06/11/2018 - 18:43
(Reuters) - Citigroup Inc's investment banking business could shed as much as half of its 20,000 technology and operations staff in the next five years due to automation, the Financial Times reported on Monday.
Categories: Global news, Market News

Wall Street ekes out gains ahead of Singapore summit

Global Business News Reuters - Mon, 06/11/2018 - 17:42
NEW YORK (Reuters) - All three major U.S. stock indexes closed slightly higher on Monday as investors eyed the looming United States-North Korea summit on Tuesday in Singapore while shrugging off the weekend's factious meeting of the Group of Seven nations.
Categories: Global news, Market News

Tesla's Autopilot to get 'full self-driving feature' in August

Global Business News Reuters - Mon, 06/11/2018 - 16:43
(Reuters) - Shares of Tesla Inc rose as much as 5 percent on Monday after Chief Executive Officer Elon Musk tweeted that its Autopilot driver assistance system will get full self-driving features following a software upgrade in August.
Categories: Global news, Market News

Citigroup's investment banking unit to cut jobs in next five years: FT

Global Business News Reuters - Mon, 06/11/2018 - 16:39
(Reuters) - Citigroup Inc's investment banking business will shed as much as half of its 20,000 technology and operations staff in the next five years, the Financial Times reported on Monday, citing Jamie Forese, the division's head.
Categories: Global news, Market News

VW's Skoda says might outsource production to meet demand

Global Business News Reuters - Mon, 06/11/2018 - 16:30
BERLIN (Reuters) - Volkswagen's Czech brand Skoda said on Monday it might outsource some production to a contract manufacturer as the division looks to respond to booming demand.
Categories: Global news, Market News

'Fair trade, fool trade', Trump's tweets spew ire on NATO allies, Trudeau

Global Business News Reuters - Mon, 06/11/2018 - 16:29
SINGAPORE (Reuters) - U.S. President Donald Trump fired off a volley of tweets on Monday venting anger on NATO allies, the European Union and Canadian Prime Minister Justin Trudeau in the wake of a divisive G7 meeting over the weekend.
Categories: Global news, Market News

More than 25 percent of WPP investors oppose Sorrell pay arrangements: Sky

Global Business News Reuters - Mon, 06/11/2018 - 16:19
(Reuters) - More than a quarter of investors at WPP have cast votes against a pay report to be discussed at Wednesday's annual general meeting, angered by benefits for former chief executive Martin Sorrell, according to Sky News reporter Mark Kleinman.
Categories: Global news, Market News

IMF's Lagarde says global economic outlook darkening by the day

Global Business News Reuters - Mon, 06/11/2018 - 15:03
BERLIN (Reuters) - International Monetary Fund chief Christine Lagarde led an attack by global economic organizations on U.S. President Donald Trump's "America First" trade policy on Monday, warning that clouds over the global economy "are getting darker by the day".
Categories: Global news, Market News

Investors ready to resuscitate Johnson & Johnson's ailing stock

Global Business News Reuters - Mon, 06/11/2018 - 14:21
NEW YORK (Reuters) - Johnson & Johnson shareholders have endured a painful year amid worries about prospects for its many businesses, but investors capitalizing on the stock's relatively cheap valuation may be set to apply a Band-Aid to the declines.
Categories: Global news, Market News

Fed up with rising costs, big U.S. firms dig into healthcare

Global Business News Reuters - Mon, 06/11/2018 - 07:13
SAN JOSE, Calif. (Reuters) - At its Silicon Valley headquarters, network gear maker Cisco Systems Inc is going to unusual lengths to take control of the relentless increase in its U.S. healthcare costs.
Categories: Global news, Market News

HSBC to invest $15-17 billion by 2020 in push for growth

Global Business News Reuters - Mon, 06/11/2018 - 07:11
LONDON (Reuters) - HSBC will invest $15-17 billion in the next three years in areas including technology and China as it swings from a strategy of cost-cutting to growth, new CEO John Flint said on Monday, while keeping profitability and dividend targets little changed.
Categories: Global news, Market News

Biotech's Soon-Shiong hiring bankers for Nant cancer drug IPO

Global Business News Reuters - Mon, 06/11/2018 - 07:08
LOS ANGELES (Reuters) - Billionaire Patrick Soon-Shiong plans to take an experimental cancer treatment company public this year and has begun hiring bankers, the biotechnology entrepreneur told Reuters.
Categories: Global news, Market News

Audi CEO named as suspect in German emissions probe

Global Business News Reuters - Mon, 06/11/2018 - 07:06
FRANKFURT (Reuters) - German prosecutors on Monday widened an emissions cheating probe into Volkswagen's luxury carmaker Audi to include the brand's Chief Executive Rupert Stadler among the suspects accused of fraud and false advertising.
Categories: Global news, Market News

Bombardier JV wins $4.9 billion Los Angeles Airport contract

Global Business News Reuters - Mon, 06/11/2018 - 06:54
(Reuters) - Bombardier Inc and its partners have been awarded a $4.9 billion contract to build and operate a passenger transit system at the Los Angeles International Airport, the company said on Monday.
Categories: Global news, Market News
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