World + Economy

People pose with mobile devices in front of projection of Samsung logo in this picture illustration taken in Zenica

Samsung, Tencent surge in race to become Asia's most valuable firm

Reuters - By Nichola Saminather SINGAPORE (Reuters) - Tencent Holdings Ltd and Samsung Electronics Co Ltd are racing to be crowned Asia's most valuable company as expectations for robust earnings growth push …

A general view shows the Volkswagen production site in Wolfsburg

VW, suppliers settle dispute after marathon talks

Reuters - By Andreas Cremer BERLIN (Reuters) - Volkswagen and two of its parts suppliers on Tuesd…

A device, part of Mobileye driving assist system, is seen on the dashboard of a vehicle in Jerusalem

Mobileye, Delphi to develop self-driving system

Reuters - (Reuters) - Israeli driving assistant software maker Mobileye NV said on Tuesday it was d…

Latest News

  • People pose with mobile devices in front of projection of Samsung logo in this picture illustration taken in Zenica
    Samsung, Tencent surge in race to become Asia's most valuable firm Reuters

    By Nichola Saminather SINGAPORE (Reuters) - Tencent Holdings Ltd and Samsung Electronics Co Ltd are racing to be crowned Asia's most valuable company as expectations for robust earnings growth push their …

    People pose with mobile devices in front of projection of Samsung logo in this picture illustration taken in Zenica

    By Nichola Saminather SINGAPORE (Reuters) - Tencent Holdings Ltd and Samsung Electronics Co Ltd are racing to be crowned Asia's most valuable company as expectations for robust earnings growth push their share prices to record highs. "These companies can grow earnings despite weaker global growth," said Andrew Gillan, …

  • VW, suppliers settle dispute after marathon talks Reuters

    By Andreas Cremer BERLIN (Reuters) - Volkswagen and two of its parts suppliers on Tuesday resolved a contract dispute that had hit output at more than half of the carmaker's German plants and threatened …

    A general view shows the Volkswagen production site in Wolfsburg

    By Andreas Cremer BERLIN (Reuters) - Volkswagen and two of its parts suppliers on Tuesday resolved a contract dispute that had hit output at more than half of the carmaker's German plants and threatened to undermine its recovery from a diesel emissions scandal. After more than 20 hours of negotiations that went on through …

  • Mobileye, Delphi to develop self-driving system Reuters

    (Reuters) - Israeli driving assistant software maker Mobileye NV said on Tuesday it was developing a self-driving system with Delphi Automotive Plc that will be ready for production by 2019. Mobileye …

    A device, part of Mobileye driving assist system, is seen on the dashboard of a vehicle in Jerusalem

    (Reuters) - Israeli driving assistant software maker Mobileye NV said on Tuesday it was developing a self-driving system with Delphi Automotive Plc that will be ready for production by 2019. Mobileye had cut its ties with Tesla Motors Inc last month after the electric carmaker's autopilot system faced scrutiny from regulators …

  • Samsung Electronics says to sell third Tizen OS smartphone in India Reuters

    South Korean tech giant Samsung Electronics Co Ltd said on Tuesday it will start selling its third smartphone powered by the company's own Tizen mobile operating system in India next week. The Z2 phone, …

    The logo of Samsung Electronics is seen at its headquarters in Seoul

    South Korean tech giant Samsung Electronics Co Ltd said on Tuesday it will start selling its third smartphone powered by the company's own Tizen mobile operating system in India next week. The Z2 phone, equipped with a 4-inch screen and India-specific features such as a safety mode for motorcyclists, will be the cheapest …

  • Oil tumbles, Treasuries rise as investors await Fed Reuters

    By Hilary Russ NEW YORK (Reuters) - Oil prices fell more than 3 percent on supply worries, while U.S. Treasuries rose and stocks flattened on Monday as markets awaited more clarity later this week from …

    A screen displays the Dow Jones Industrial Average after the end of trading on the floor of the New York Stock Exchange

    By Hilary Russ NEW YORK (Reuters) - Oil prices fell more than 3 percent on supply worries, while U.S. Treasuries rose and stocks flattened on Monday as markets awaited more clarity later this week from the Federal Reserve on when it might raise U.S. interest rates. An upbeat assessment of the U.S. economy from Fed Vice …

  • Oil down 3 percent as rally snaps on rising crude, China fuel exports Reuters

    By Barani Krishnan NEW YORK (Reuters) - Oil settled down more than 3 percent on Monday, retreating from last week's two-month highs, on worries about burgeoning Chinese fuel exports, more Iraqi and Nigerian …

    A pump jack is seen at sunrise near Bakersfield

    By Barani Krishnan NEW YORK (Reuters) - Oil settled down more than 3 percent on Monday, retreating from last week's two-month highs, on worries about burgeoning Chinese fuel exports, more Iraqi and Nigerian crude shipments and a rising U.S. oil rig count. China's July diesel and gasoline exports soared 181.8 percent and …

  • BlackRock upgrades outlook for emerging market stocks Reuters

    By Trevor Hunnicutt NEW YORK (Reuters) - BlackRock Inc said on Monday it is upgrading its view on emerging market stocks, adding that the equities will continue thriving as central banks keep interest …

    The BlackRock logo is seen outside of its offices in New York

    By Trevor Hunnicutt NEW YORK (Reuters) - BlackRock Inc said on Monday it is upgrading its view on emerging market stocks, adding that the equities will continue thriving as central banks keep interest rates low. Rates globally remaining "lower for longer" keeps the risk of the U.S. dollar rising slim, while increasing …

  • ArcelorMittal South Africa to pay record $110 million to settle anti-trust charges Reuters

    ArcelorMittal's South African unit has agreed to pay a record 1.5 billion rand ($110 million) fine for colluding to fix steel prices, the competition watchdog said on Monday. The Competition Commission …

    Workers stand near the logo of ArcelorMittal at the steel plant in Ghent

    ArcelorMittal's South African unit has agreed to pay a record 1.5 billion rand ($110 million) fine for colluding to fix steel prices, the competition watchdog said on Monday. The Competition Commission launched an investigation in 2008 after concerns were raised that steel mills had been charging import parity prices, …

  • Malaysia's Petronas sees gloomy industry outlook as second quarter profit slumps Reuters

    By Emily Chow KUALA LUMPUR (Reuters) - Malaysian state-owned oil firm Petroliam Nasional Bhd (Petronas) [PETR.UL] on Monday said low oil prices dragged quarterly profit down 85 percent, and labelled the …

    A pump attendant works at a Petronas petrol station outside Kuala Lumpur, Malaysia

    By Emily Chow KUALA LUMPUR (Reuters) - Malaysian state-owned oil firm Petroliam Nasional Bhd (Petronas) [PETR.UL] on Monday said low oil prices dragged quarterly profit down 85 percent, and labelled the industry outlook "gloomy" well into 2017. Petronas has seen a global slump in oil prices squeeze finances, which make …

  • GE's plan to take on debt could pressure credit metrics - Moody's Reuters

    (Reuters) - General Electric Co's plan to take on $20 billion of debt adds to the "uncertainty surrounding its ability to mitigate" pressure on credit metrics, Moody's Investors Service said on Monday. …

    The logo of Dow Jones Industrial Average stock market index listed company General Electric

    (Reuters) - General Electric Co's plan to take on $20 billion of debt adds to the "uncertainty surrounding its ability to mitigate" pressure on credit metrics, Moody's Investors Service said on Monday. Moody's downgraded GE's senior unsecured debt rating to A1 in April 2015 due to concerns about the industrial-focused …

  • Samsung plans refurbished smartphone program: source Reuters

    By Se Young Lee and Miyoung Kim SEOUL/SINGAPORE (Reuters) - Samsung Electronics Co Ltd plans to launch a program to sell refurbished used versions of its premium smartphones as early as next year, a person …

    The logo of Samsung Electronics is seen at its headquarters in Seoul

    By Se Young Lee and Miyoung Kim SEOUL/SINGAPORE (Reuters) - Samsung Electronics Co Ltd plans to launch a program to sell refurbished used versions of its premium smartphones as early as next year, a person with direct knowledge of the matter told Reuters. As growth in the global smartphone market hits a plateau, Samsung …

  • Pfizer nears deal to acquire Medivation for close to $14 billion Reuters

    Pfizer Inc is in advanced talks to acquire U.S. cancer drug company Medivation Inc for close to $14 billion, as it seeks to boost its oncology portfolio, people familiar with the matter said on Sunday. …

    The Pfizer logo is seen at their world headquarters in Manhattan, New York, U.S.

    Pfizer Inc is in advanced talks to acquire U.S. cancer drug company Medivation Inc for close to $14 billion, as it seeks to boost its oncology portfolio, people familiar with the matter said on Sunday. Pfizer has agreed to pay a little more than $80 per share for Medivation, one of the people said, a substantial premium …

  • VW says talks to end supplier dispute will resume on Monday Reuters

    Volkswagen is seeking a negotiated settlement with suppliers in a dispute over contracts that is halting production at some of its plants and talks will resume on Monday, the German carmaker said. "Naturally, …

    File photo of VW sign outside a Volkswagen dealership in London

    Volkswagen is seeking a negotiated settlement with suppliers in a dispute over contracts that is halting production at some of its plants and talks will resume on Monday, the German carmaker said. "Naturally, we remain in talks with the suppliers," a VW spokesman said, adding that the negotiations had run late into the …

  • India taps insider Patel as central bank head, seeking continuity Reuters

    By Manoj Kumar and Rafael Nam NEW DELHI/MUMBAI (Reuters) - Reserve Bank of India insider Urjit Patel won a promotion to run the central bank on Saturday with a mandate to cement the bank's commitment …

    Reserve Bank of India (RBI) Deputy Governor Urjit Patel attends a news conference after the bi-monthly monetary policy review in Mumbai

    By Manoj Kumar and Rafael Nam NEW DELHI/MUMBAI (Reuters) - Reserve Bank of India insider Urjit Patel won a promotion to run the central bank on Saturday with a mandate to cement the bank's commitment to keeping inflation low, as the tenure of the man he is replacing draws to a turbulent conclusion. Raghuram Rajan, a former …

  • BOJ's Kuroda says won't rule out deepening negative rate cut-Sankei Reuters

    The Bank of Japan will not rule out deepening a cut to negative rates it introduced in February, the Sankei newspaper quoted Governor Haruhiko Kuroda as saying, even as the controversial policy has failed …

    Bank of Japan (BOJ) Governor Haruhiko Kuroda attends a news conference at the BOJ headquarters in Tokyo

    The Bank of Japan will not rule out deepening a cut to negative rates it introduced in February, the Sankei newspaper quoted Governor Haruhiko Kuroda as saying, even as the controversial policy has failed to spur inflation or economic growth. In an interview with the daily, Kuroda said the BOJ's negative rate policy has …

  • JPMorgan ends WaMu disputes with FDIC, to receive $645 million Reuters

    JPMorgan Chase & Co on Friday said it will receive $645 million in a settlement of litigation with the Federal Deposit Insurance Corp and Deutsche Bank AG arising from its purchase of Washington Mutual …

    A view of the exterior of the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New York

    JPMorgan Chase & Co on Friday said it will receive $645 million in a settlement of litigation with the Federal Deposit Insurance Corp and Deutsche Bank AG arising from its purchase of Washington Mutual Inc's banking operations during the financial crisis in 2008. According to a regulatory filing, JPMorgan will collect …

  • IEX's 'Flash Boys' exchange goes live, aims to disrupt market Reuters

    By John McCrank NEW YORK (Reuters) - IEX Group, the upstart trading venue featured in Michael Lewis's book "Flash Boys: A Wall Street Revolt," began operations as a public stock exchange on Friday after …

    Katsuyama, chief executive of IEX Group, walks in the lobby of 4 World Trade Center in New York

    By John McCrank NEW YORK (Reuters) - IEX Group, the upstart trading venue featured in Michael Lewis's book "Flash Boys: A Wall Street Revolt," began operations as a public stock exchange on Friday after more than 2-1/2 years as an off-exchange trading platform. The Investors' Exchange is the 13th U.S. stock exchange and …

  • Monte dei Paschi CEO says probe 'emotionally difficult' Reuters

    By Valentina Za and Stephen Jewkes MILAN (Reuters) - The latest judicial probe into Monte dei Paschi di Siena is a procedural necessity but it could still damage Italy's third-largest bank as it seeks …

    Monte Dei Paschi di Siena (MPS) CEO Fabrizio Viola attends a FABI meeting in Milan

    By Valentina Za and Stephen Jewkes MILAN (Reuters) - The latest judicial probe into Monte dei Paschi di Siena is a procedural necessity but it could still damage Italy's third-largest bank as it seeks to solve its financial woes, the lender's chief executive said on Friday. CEO Fabrizio Viola and former chairman Alessandro …

  • Taiwan asks Uber to pay bill in sales tax stand-off Reuters

    Taiwan has asked Uber Technologies to pay a sales tax bill estimated by local media to be up to about $6.4 million, the government said on Friday, as a decision looms on whether the global ride-hailing …

    File photo shows a taxi passing by an advertisement for the Uber car and ride-sharing service displayed on a bus stop in Paris

    Taiwan has asked Uber Technologies to pay a sales tax bill estimated by local media to be up to about $6.4 million, the government said on Friday, as a decision looms on whether the global ride-hailing service may be ordered to leave the island. Taiwan's Investment Commission said earlier this month it may order Uber …

  • Short-sellers smell blood as Japan Inc wounded by accounting scandals Reuters

    By Umesh Desai and Michelle Price HONG KONG (Reuters) - Short-sellers who made their names and fortunes wiping billions off Chinese and Southeast Asian companies are setting their sights on Japan after …

    The logos of Japan's robot venture company Cyberdyne are seen on the Lower Limb Model HAL for welfare use at the Cyberdyne studio in Tsukuba

    By Umesh Desai and Michelle Price HONG KONG (Reuters) - Short-sellers who made their names and fortunes wiping billions off Chinese and Southeast Asian companies are setting their sights on Japan after a series of accounting scandals amplified concerns about weak corporate governance there. Until recently, corporate managers …