Canada's main stock index was up in late-morning trading as gains in the financial, industrial and materials sectors outweighed losses in the energy sector as the price of oil fell. The S&P/TSX composite index was up 79.85 points at 15,236.25. The December crude contract was down US$2.57 at US$57.36
The departure of Bansal, 37, one of India's new generation of young, tech-savvy billionaires, is a setback for Walmart's efforts to compete with Amazon.com Inc in India's huge consumer market. In a letter sent to Flipkart employees, which was seen by Reuters, Bansal did not give details
AL-MASNAA, Lebanon — Lebanese exporters rejoiced last month when the Syrian government opened a key land crossing with Jordan that had been closed by years of war, restoring a much-needed overland trade route to lucrative Persian Gulf markets. The reopening of the Naseeb-Jaber crossing allowed Mohammed
Call it the “consolation prize” in Amazon’s months-long HQ2 sweepstakes. Amazon (AMZN) on Tuesday finally made the official announcement that it will split its HQ2 between two locations: Arlington, Va., and Long Island City in the Queens borough of New York City. Amazon is investing $5 billion total
Amazon will be spreading its vast expansion plans over multiple North American locations, but confirmed on Tuesday that it will not be calling Canada home. The retail behemoth announced that its coveted second headquarters, popularly dubbed HQ2, will be divided between New York City and Arlington, Va
NASHVILLE — Gov. Bill Haslam's office says Amazon's plans for a Tennessee operations hub expected to create 5,000 jobs represent "the single largest jobs commitment made by a company in Tennessee's history."
The annual cost to insure against a default by GE for five years climbed above 200 basis points for the first time in years, credit-default swap prices from CMA show. Yields on some of GE’s bonds have also reached levels that are in line with junk-rated bonds, Bloomberg Barclays index data show. Chief
U.S. shared office space provider WeWork Cos has secured an additional $3 billion in funding from Japan's SoftBank Group Corp, according to an investor presentation seen by Reuters. The latest funding was in the form of a warrant, under which SoftBank will pay WeWork $1.5 billion on Jan. 15 and
The head of Poland's financial regulatory body resigned Tuesday following a report alleging that he had sought a multimillion dollar bribe from the owner of a troubled bank in exchange for favours . The development comes after the daily Gazeta Wyborcza reported that Chrzanowski sought the bribe
The International Monetary Fund has warned the Italian government that its plan to sharply increase spending carries "substantial" risks and would leave the country vulnerable to market turmoil. Italy's populist government has proposed a budget that would see its deficit bloat to 2.4 per
Replacing Vittorio Colao at the top of the British company after the Italian ran the group for 10 years, former finance director Nick Read also said he would freeze the dividend until its large debt pile fell. "My new strategic priorities focus on ... radically simplifying our operating model and
Virginia Governor Ralph Northam cheered Amazon's choice of Arlington as one of two new headquarters locations for Amazon. Amazon is set to invest about $2.5 billion in its new Virginia headquarters and the state has promised a raft of incentives, including infrastructure investment and tax breaks
There’s no certainty that China will cede to U.S. demands in trade negotiations, but “it’s better to talk than to not talk,” Kudlow said in an interview on CNBC Tuesday. “We are talking to them again,” he said.
By David Gaffen NEW YORK (Reuters) - Oil's fall accelerated on Tuesday, with U.S. futures dropping to lows not seen in 11 months due to ongoing worries about weakening global demand, oversupply and selloffs across other asset classes, including equities. Oil prices were hit on Monday after U.S. President
OPEC’s dire forecast for 2019 demand came at a time of steadily rising American production and stockpiles. Trump admonished Saudi Arabia for planning to curb output in a matter of weeks and lamented prices that dipped below $57 a barrel for the first time since December aren’t even lower.
Under the proposal, Greek lenders would transfer about half of their deferred tax claims to a special purpose vehicle, which would then sell bonds and use the proceeds to buy some 42 billion euros ($47 billion) of bad loans from the lenders, according to the people. The Bank of Greece will release a
CNN sued the Trump administration Tuesday, demanding that correspondent Jim Acosta's credentials to cover the White House be returned because it violates the constitutional right of freedom of the press. The administration stripped Acosta of his pass to enter the White House following President
TransCanada Corp is reviewing a decision by a Montana judge blocking construction of the Keystone XL pipeline, but the impact on project timing remains unclear, the company's top crude pipeline executive said on Tuesday. "We're going through the decisions, we're reviewing the deficiencies
In addition, Nashville, Tennessee, will be home to what Amazon is calling an "Operations Center of Excellence," adding 5,000 corporate jobs. The world's third-most valuable company behind Apple Inc and Microsoft Corp will boost its presence around New York City and the nation's capital
Over two-thirds of U.S. adults say they're making an effort to reduce their monthly budget, says consumer-financial company Bankrate, to save more money and for other reasons.
Because price declines are hitting extremely expensive cities, they might not drag down consumption the way standard theory would predict. “Modest declines in property prices in Mumbai, Hong Kong, Shanghai, London and even New York City may not lead to a significant weakening in consumption,” write
The options market is pricing in a 6.6 percent move for the stock either way following the internet giant’s third-quarter update after Hong Kong’s market closes Wednesday. Derivatives traders have also sent the cost of hedging Tencent to a one-year high relative to the Hang Seng Index, after the stock
The European Commission, the EU’s executive arm, said equivalence procedures for clearing and securities settlement can be “swiftly deployed” to prevent a market rupture if the U.K. quits the bloc next March without a divorce deal or transition period. It encouraged U.K. firms to pre-apply to the EU