World + Economy

Traders work at their desks in front of the German share price index DAX board in Frankfurt

Wall Street rises, euro down ahead of ECB meeting

Reuters - By Sinead Carew NEW YORK (Reuters) - Oil futures snapped a four-day rally on Tuesday on signs of higher output while the euro slipped from a three-week high ahead of a Thursday meeting of the Europe…

People walk past a store of yogawear retailer Lululemon Athletica in downtown Vancouver

A shift from yoga pants may leave Lululemon investors in a sweat

Reuters - By Noel Randewich SAN FRANCISCO (Reuters) - Mutual funds that bought Lululemon Athletica…

A Bank of Montreal (BMO) sign is seen outside of a branch in Ottawa

BMO comfortable with capital after earnings beat view

Reuters - By Matt Scuffham TORONTO (Reuters) - Bank of Montreal's Chief Financial Officer said he …

Latest News

  • Traders work at their desks in front of the German share price index DAX board in Frankfurt
    Wall Street rises, euro down ahead of ECB meeting Reuters

    By Sinead Carew NEW YORK (Reuters) - Oil futures snapped a four-day rally on Tuesday on signs of higher output while the euro slipped from a three-week high ahead of a Thursday meeting of the European …

    Traders work at their desks in front of the German share price index DAX board in Frankfurt

    By Sinead Carew NEW YORK (Reuters) - Oil futures snapped a four-day rally on Tuesday on signs of higher output while the euro slipped from a three-week high ahead of a Thursday meeting of the European Central Bank. Wall Street was boosted by financial and telecom stocks while U.S. Treasury yields held in narrow ranges …

  • A shift from yoga pants may leave Lululemon investors in a sweat Reuters

    By Noel Randewich SAN FRANCISCO (Reuters) - Mutual funds that bought Lululemon Athletica's stock in recent months may find themselves in a cold sweat if the retailer's quarterly report on Wednesday shows …

    People walk past a store of yogawear retailer Lululemon Athletica in downtown Vancouver

    By Noel Randewich SAN FRANCISCO (Reuters) - Mutual funds that bought Lululemon Athletica's stock in recent months may find themselves in a cold sweat if the retailer's quarterly report on Wednesday shows strong signs that leggings and other yoga apparel are falling out of fashion. Lululemon already faces relentless competition …

  • BMO comfortable with capital after earnings beat view Reuters

    By Matt Scuffham TORONTO (Reuters) - Bank of Montreal's Chief Financial Officer said he was comfortable with the bank's capital strength, despite it being weaker than rivals', after the lender reported …

    A Bank of Montreal (BMO) sign is seen outside of a branch in Ottawa

    By Matt Scuffham TORONTO (Reuters) - Bank of Montreal's Chief Financial Officer said he was comfortable with the bank's capital strength, despite it being weaker than rivals', after the lender reported better-than-expected earnings. Analysts on average had expected earnings of C$1.85, according to Thomson Reuters I/B/E/S. …

  • Caesars unit's bank lenders threaten to end bankruptcy deal Reuters

    By Tracy Rucinski CHICAGO (Reuters) - The bank lenders of Caesars Entertainment Corp's operating unit said they might walk away from a plan to bring the casino unit out of its $18 billion bankruptcy, …

    An evening view of the 550-foot-tall High Roller observation wheel after opening in Las Vegas

    By Tracy Rucinski CHICAGO (Reuters) - The bank lenders of Caesars Entertainment Corp's operating unit said they might walk away from a plan to bring the casino unit out of its $18 billion bankruptcy, potentially sending a high-stakes reorganization plan into disarray. The committee of bank lenders, which includes Blackstone …

  • Statoil drops Airbus Super Puma helicopters for good Reuters

    Norwegian state-controlled oil company Statoil will not resume using Airbus's H225 Super Puma helicopters even if Norway's Civil Aviation Authority decides to lift a ban imposed after a fatal crash off …

    Spectators watch a Super Puma helicopter operating in a mock Search and Rescue operation, during a show marking the Hellenic Air Force's Patron Saint celebration, on the southern suburb of Faliro, in Athens

    Norwegian state-controlled oil company Statoil will not resume using Airbus's H225 Super Puma helicopters even if Norway's Civil Aviation Authority decides to lift a ban imposed after a fatal crash off Norway in April, the company said on Tuesday. Recent models of Super Puma, a workhorse of the offshore oil industry, …

  • Exclusive: Emissions crackdown exposes Renault-Nissan engine trouble Reuters

    By Laurence Frost and Gilles Guillaume PARIS (Reuters) - The Renault-Nissan alliance is replacing its top executive in charge of combining the carmakers' engines and gearboxes, sources told Reuters, as …

    Ghosn, Chairman and CEO of the Renault-Nissan Alliance and Mitsubishi Motors Corp's Chairman and CEO Masuko attend their joint news conference in Tokyo

    By Laurence Frost and Gilles Guillaume PARIS (Reuters) - The Renault-Nissan alliance is replacing its top executive in charge of combining the carmakers' engines and gearboxes, sources told Reuters, as tightening emissions regulations expose the slow pace of integration so far. Alain Raposo, global head of powertrain …

  • Top Actelion shareholder says backs J&J deal above 246 Sfr/share Reuters

    A top-30 investor in Swiss pharmaceutical company Actelion said he would back a takeover approach for the whole company from U.S. rival Johnson & Johnson above 246 Swiss francs. Actelion confirmed it …

    A general view shows Swiss biotech group Actelion Headquarters in Allschwil

    A top-30 investor in Swiss pharmaceutical company Actelion said he would back a takeover approach for the whole company from U.S. rival Johnson & Johnson above 246 Swiss francs. Actelion confirmed it was in talks with J&J on Nov. 25, without giving details. Media reports suggested an initial bid of 246 Swiss francs …

  • BMW to pay $57 million for irresponsible lending in Australia: regulator Reuters

    Australia's corporate regulator said on Tuesday that German carmaker BMW has to pay A$77 million ($57 million) to compensate customers who received loans they could not afford, in what is Australia's …

    View of a BMW logo on a wheel at the Mondial de l'Automobile, Paris auto show, during media day in Paris

    Australia's corporate regulator said on Tuesday that German carmaker BMW has to pay A$77 million ($57 million) to compensate customers who received loans they could not afford, in what is Australia's largest ever consumer credit remediation program. The payments will compensate at least 15,000 customers who may have suffered …

  • Alipay expands partnerships to tap Chinese travelers to Europe Reuters

    BEIJING (Reuters) - Alipay said Tuesday it has partnered with four more financial services providers in Europe, as it looks to tap into Chinese consumers traveling abroad, in a move that could help China's …

    Sales assistant sits behind and under Alipay logos at a train station in Shanghai

    BEIJING (Reuters) - Alipay said Tuesday it has partnered with four more financial services providers in Europe, as it looks to tap into Chinese consumers traveling abroad, in a move that could help China's top online payments platform expand its global footprint nearly tenfold. The company has formed partnerships with …

  • Barclays' exit from energy trading stirs concerns over liquidity Reuters

    By Catherine Ngai and Olivia Oran NEW YORK (Reuters) - British bank Barclays Plc has joined the list of top banks to exit energy trading, an exodus that analysts say raises concern among oil producers …

    A view of the exterior of the Barclays U.S. Corporate headquarters in the Manhattan borough of New York City

    By Catherine Ngai and Olivia Oran NEW YORK (Reuters) - British bank Barclays Plc has joined the list of top banks to exit energy trading, an exodus that analysts say raises concern among oil producers that falling liquidity means they cannot use derivatives for their basic function: to hedge risk by locking in future prices. …

  • Exclusive: McDonald's to keep up to 25 percent stake in China, HK stores - source Reuters

    By Elzio Barreto HONG KONG (Reuters) - McDonald's Corp is looking to raise $1 billion to $2 billion with the sale of its China and Hong Kong stores after the U.S. fast-food chain decided to keep "a significant …

    People walk past the entrance to a McDonald's restaurant in Shanghai

    By Elzio Barreto HONG KONG (Reuters) - McDonald's Corp is looking to raise $1 billion to $2 billion with the sale of its China and Hong Kong stores after the U.S. fast-food chain decided to keep "a significant minority stake in the business," a person with direct knowledge of the plans said on Tuesday. McDonald's wants …

  • Daimler may make electric cars in China to boost sales Reuters

    By Edward Taylor and Ilona Wissenbach STUTTGART (Reuters) - Daimler may make batteries and Mercedes-Benz electric cars in China as part of a drive to manufacture more products locally and to try to boost …

    Daimler AG sign is pictured at the IAA truck show in Hanover

    By Edward Taylor and Ilona Wissenbach STUTTGART (Reuters) - Daimler may make batteries and Mercedes-Benz electric cars in China as part of a drive to manufacture more products locally and to try to boost sales, according to board member Hubertus Troska. Sales of the German company's luxury cars in China have grown 28 …

  • Dalian Wanda executive in charge of relisting plan resigns Reuters

    The chief architect behind Dalian Wanda Group's $4.4 billion buyout to take its flagship Hong Kong-listed property arm private and relist it in China has resigned without seeing the plan through, according …

    A sign of Dalian Wanda Group in China glows during an event announcing strategic partnership between Wanda Group and FIFA in Beijing

    The chief architect behind Dalian Wanda Group's $4.4 billion buyout to take its flagship Hong Kong-listed property arm private and relist it in China has resigned without seeing the plan through, according to an internal memo. The resignation of Lu Xiaoma from the post of vice president of Dalian Wanda Financial Group …

  • UTC CEO says no 'quid pro quo' on keeping Indiana plant open Reuters

    By David Shepardson WASHINGTON (Reuters) - United Technologies Corp , parent company of Carrier Corp, got a "good deal" with President-elect Donald Trump that allowed it to shift most jobs at two Indiana …

    U.S. President-Elect Donald Trump speaks at an event at Carrier HVAC plant in Indianapolis

    By David Shepardson WASHINGTON (Reuters) - United Technologies Corp , parent company of Carrier Corp, got a "good deal" with President-elect Donald Trump that allowed it to shift most jobs at two Indiana plants to Mexico, its chief executive said on Monday in an interview with CNBC. Greg Hayes, chief executive of UTC, …

  • Ford Motor to raise $2.8 billion debt to fund new technology Reuters

    By Bernie Woodall and Joseph White DETROIT (Reuters) - Ford Motor Co will raise $2.8 billion in long-term debt, according to a filing with U.S. securities regulators, funds which a senior executive said …

    A Ford logo is seen on the grill of a 2015 F-150 truck outside the New York Stock Exchange in the Manhattan borough of New York

    By Bernie Woodall and Joseph White DETROIT (Reuters) - Ford Motor Co will raise $2.8 billion in long-term debt, according to a filing with U.S. securities regulators, funds which a senior executive said on Monday will help fund investments in new technology including self-driving cars. Joe Hinrichs, Ford president of …

  • United Airlines mechanics ratify new contract Reuters

    By Alana Wise NEW YORK (Reuters) - Union mechanics at United Continental Holdings Inc on Monday ratified a six-year joint collective bargaining agreement with the airline, marking the end to several …

    United Airlines planes are seen on platform at the Newark Liberty International Airport in New Jersey

    By Alana Wise NEW YORK (Reuters) - Union mechanics at United Continental Holdings Inc on Monday ratified a six-year joint collective bargaining agreement with the airline, marking the end to several years of contract talks between the two parties. The agreement, approved by United mechanics who are represented by the …

  • Wall Street rises with banks, investors shrug off Italian referendum Reuters

    By Sinead Carew NEW YORK (Reuters) - U.S. stocks rose on Monday on strong economic data while currency and bond investors shrugged off Italian Prime Minister Matteo Renzi's resignation, following voters' …

    Traders work on the floor of the NYSE in New York City

    By Sinead Carew NEW YORK (Reuters) - U.S. stocks rose on Monday on strong economic data while currency and bond investors shrugged off Italian Prime Minister Matteo Renzi's resignation, following voters' rejection of his constitutional reforms. U.S. Treasury yields fell in choppy trading on Monday as investors viewed …

  • Rescue of Italian bank Monte Paschi in danger after Renzi's defeat Reuters

    By Silvia Aloisi and Andrea Mandala MILAN (Reuters) - A 5 billion euro ($5.33 billion) rescue plan for Italian bank Monte dei Paschi di Siena hung by a thread on Monday after Prime Minister Matteo Renzi's …

    A man makes a phone call near the entrance of the Monte dei Paschi bank headquarters in Siena

    By Silvia Aloisi and Andrea Mandala MILAN (Reuters) - A 5 billion euro ($5.33 billion) rescue plan for Italian bank Monte dei Paschi di Siena hung by a thread on Monday after Prime Minister Matteo Renzi's defeat in a referendum and pledge to resign. The world's oldest bank, saddled with 46 billion euros of bad loans, …

  • Panasonic may buy ZKW to accelerate push into auto electronics: source Reuters

    By Makiko Yamazaki and Alexandra Schwarz-Goerlich TOKYO/VIENNA (Reuters) - Japan's Panasonic Corp <6752.T> may buy European automotive light maker ZKW Group, accelerating its push into the automotive …

    People pass television installation at Panasonic pavilion before start of IFA consumer electronics fair in Berlin

    By Makiko Yamazaki and Alexandra Schwarz-Goerlich TOKYO/VIENNA (Reuters) - Japan's Panasonic Corp <6752.T> may buy European automotive light maker ZKW Group, accelerating its push into the automotive electronics market, a person familiar with the matter said. A spokeswoman for Austria-based ZKW dismissed the idea of a …

  • Ahead of deal to cut, OPEC oil output hits record high: Reuters survey Reuters

    By Alex Lawler LONDON (Reuters) - OPEC's oil output set another record high in November ahead of a deal to cut production, a Reuters survey found on Monday, helped by higher Iraqi exports and extra barrels …

    Used oil barrels are seen outside a garage in Cuevas del Becerro

    By Alex Lawler LONDON (Reuters) - OPEC's oil output set another record high in November ahead of a deal to cut production, a Reuters survey found on Monday, helped by higher Iraqi exports and extra barrels from two nations exempted from cutting supply - Nigeria and Libya. Supply from OPEC increased to 34.19 million barrels …