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Qualcomm CEO hopes ZTE deal will clear acquisition of NXP in China

Global Business News Reuters - Thu, 06/07/2018 - 09:59
(Reuters) - Qualcomm Inc CEO Steven Mollenkopf said on Thursday he hoped an announced agreement between the United States and China on the future of ZTE Corp will pave the way for China clearing Qualcomm's acquisition of NXP Semiconductors NV.
Categories: Global news, Market News

Google faces EU antitrust fine over Android case in July: sources

Global Business News Reuters - Thu, 06/07/2018 - 09:57
BRUSSELS (Reuters) - Google is expected to be hit with a second EU antitrust fine in mid-July for using its dominant Android mobile operating system to squeeze out rivals, three people familiar with the matter said.
Categories: Global news, Market News

UK's House of Fraser to close 31 stores, 6,000 jobs at stake

Global Business News Reuters - Thu, 06/07/2018 - 03:36
LONDON (Reuters) - British department store group House of Fraser said on Thursday it has proposed closing 31 stores in a move likely to result in 6,000 job losses.
Categories: Global news, Market News

Honolulu lawmakers pass 'surge pricing' cap for ride-hailing companies

Global Business News Reuters - Thu, 06/07/2018 - 03:30
(Reuters) - Honolulu could become the first U.S. city to limit fares ride-hailing companies can charge when demand spikes, following a city council vote on Wednesday, the Honolulu Star-Advertiser newspaper reported.
Categories: Global news, Market News

Asian shares hit 11-week high; euro, yields rise after ECB comments

Global Business News Reuters - Thu, 06/07/2018 - 02:51
TOKYO (Reuters) - Asian shares rose to a fresh 11-week high on Thursday, supported by sound economic fundamentals, while expectations the European Central Bank (ECB) may soon start to wind down its stimulus boosted the euro and global bond yields.
Categories: Global news, Market News

Fed clambers back to positive real rates, now debate is when to stop

Global Business News Reuters - Thu, 06/07/2018 - 01:37
WASHINGTON (Reuters) - The Federal Reserve will likely raise its target interest rate to above the rate of inflation for the first time in a decade next week, igniting a new debate: when to stop.
Categories: Global news, Market News

Billions in U.S. solar projects shelved after Trump panel tariff

Global Business News Reuters - Thu, 06/07/2018 - 01:07
(Reuters) - President Donald Trump’s tariff on imported solar panels has led U.S. renewable energy companies to cancel or freeze investments of more than $2.5 billion in large installation projects, along with thousands of jobs, the developers told Reuters.
Categories: Global news, Market News

Buffett, Dimon say quarterly profit forecasts harming economy: WSJ

Global Business News Reuters - Thu, 06/07/2018 - 00:58
(Reuters) - Billionaire investor Warren Buffett and JPMorgan Chase Chief Executive Jamie Dimon voiced concerns that the financial markets' focus on short-term goals is hurting the economy and urged companies to move away from providing quarterly earnings guidance, according to the Wall Street Journal.
Categories: Global news, Market News

Daimler fights Tesla, VW with new electric big rig truck

Global Business News Reuters - Thu, 06/07/2018 - 00:03
PORTLAND, Ore./FRANKFURT (Reuters) - Daimler AG unveiled on Wednesday an all-electric big rig truck it promises to have in production in 2021, as the German automaker mounts a major challenge to European and American rivals, including new entrants like Tesla Inc .
Categories: Global news, Market News

China says it does not want U.S. trade frictions to escalate

Global Business News Reuters - Wed, 06/06/2018 - 23:47
BEIJING (Reuters) - China's Commerce Ministry said on Thursday that the country does not want an escalation of trade frictions with the United States, and that some specific progress was made in the latest round of talks that concluded over the weekend.
Categories: Global news, Market News

Strong fundamentals support Asian shares, Euro, yields up after ECB comments

Global Business News Reuters - Wed, 06/06/2018 - 21:27
TOKYO (Reuters) - Asian shares rose to 2 1/2-month high on Thursday, supported by strong economic fundamentals, while expectations the European Central Bank could start to wind down its stimulus boosted the euro and global bond yields.
Categories: Global news, Market News

Oil prices rise on Venezuelan supply troubles, but U.S. output surges

Global Business News Reuters - Wed, 06/06/2018 - 21:25
BEIJING (Reuters) - Oil prices rose on Thursday to shake off some of the previous session's losses, supported by plunging exports by OPEC-member Venezuela.
Categories: Global news, Market News

Trump sticks with hard line on trade as showdown looms at G7

Global Business News Reuters - Wed, 06/06/2018 - 20:19
WASHINGTON/OTTAWA (Reuters) - U.S. President Donald Trump is not backing down from the tough line he has taken on trade, the White House's top economic adviser said on Wednesday, setting the stage for a showdown with top allies at this week's G7 summit in Canada.
Categories: Global news, Market News

Icahn buys small stake in drugmaker Allergan: sources

Global Business News Reuters - Wed, 06/06/2018 - 18:45
(Reuters) - Billionaire investor Carl Icahn has acquired a small stake in Allergan Plc at a time when the drugmaker is under pressure from other activist shareholders, people familiar with the matter said on Wednesday.
Categories: Global news, Market News

U.S. lawmakers press Facebook over Chinese data sharing

Global Business News Reuters - Wed, 06/06/2018 - 18:38
WASHINGTON/SAN FRANCISCO (Reuters) - Facebook Inc faced criticism on Wednesday from Republican and Democratic U.S. lawmakers who demanded that the social media company be more forthcoming about data it has shared with four Chinese firms.
Categories: Global news, Market News

Congress has few options to stop Trump from saving China's ZTE

Global Business News Reuters - Wed, 06/06/2018 - 18:04
WASHINGTON (Reuters) - There is little Congress can do to stop President Donald Trump if he wants to relax penalties on ZTE Corp , despite strong bipartisan opposition to easing restrictions on China's No. 2 telecommunications equipment maker.
Categories: Global news, Market News

Trump's move to please farmers on biofuels reform draws refinery union ire

Global Business News Reuters - Wed, 06/06/2018 - 16:57
(Reuters) - U.S. President Donald Trump, in yielding to pressure from farming states and agreeing to suspend changes to U.S. biofuel policy is now being criticized by another important constituency, the main union for oil refinery workers.
Categories: Global news, Market News

Tesla shares rise as Musk says Model 3 set to hit target

Global Business News Reuters - Wed, 06/06/2018 - 14:52
(Reuters) - Tesla Inc shares headed for their best day in more than two years on Wednesday after Chief Executive Elon Musk said the car maker was now churning out 500 of its Model 3 sedans a day and should achieve its 5,000 per week target by the end of June.
Categories: Global news, Market News

Lawmakers press Facebook over Chinese data sharing

Global Business News Reuters - Wed, 06/06/2018 - 11:24
WASHINGTON (Reuters) - Two key U.S. lawmakers on Wednesday rebuked Facebook Inc for not being more transparent over its data sharing after the social media giant said it had collaborated with at least four Chinese companies, including a smartphone maker that has raised U.S. security concerns.
Categories: Global news, Market News

Athenahealth CEO steps down; company considers sale

Global Business News Reuters - Wed, 06/06/2018 - 11:17
(Reuters) - Athenahealth Inc's Chief Executive Officer Jonathan Bush stepped down on Wednesday and the healthcare software maker said it was exploring options, including selling itself, following pressure from activist investor Elliott Management.
Categories: Global news, Market News
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