World + Economy

A street sign is seen in front of the New York Stock Exchange on Wall Street in New York

Fed reaction to data barrage is focus for stocks

Reuters - By Rodrigo Campos NEW YORK (Reuters) - Data on inflation and employment, two of the economic indicators most important to a "data-dependent" U.S. Federal Reserve are expected next week. While Fed p…

Sumner Redstone arrives at premiere of The Guilt Trip in Los Angeles

Sumner Redstone suggests he could oust Viacom board, CEO

Reuters - Sumner Redstone made clear on Friday that he is considering ousting Viacom's chief execu…

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  • A street sign is seen in front of the New York Stock Exchange on Wall Street in New York
    Fed reaction to data barrage is focus for stocks Reuters

    By Rodrigo Campos NEW YORK (Reuters) - Data on inflation and employment, two of the economic indicators most important to a "data-dependent" U.S. Federal Reserve are expected next week. While Fed policymakers …

    A street sign is seen in front of the New York Stock Exchange on Wall Street in New York

    By Rodrigo Campos NEW YORK (Reuters) - Data on inflation and employment, two of the economic indicators most important to a "data-dependent" U.S. Federal Reserve are expected next week. While Fed policymakers will be looking at those numbers as they decide whether to raise key interest rates as soon as June, traders …

  • Sumner Redstone suggests he could oust Viacom board, CEO Reuters

    Sumner Redstone made clear on Friday that he is considering ousting Viacom's chief executive and the company's board of directors in the fierce power struggle between Redstone's family and company executives …

    Sumner Redstone arrives at premiere of The Guilt Trip in Los Angeles

    Sumner Redstone made clear on Friday that he is considering ousting Viacom's chief executive and the company's board of directors in the fierce power struggle between Redstone's family and company executives over control of the media empire. A judge set an early June hearing on the possible removal of CEO Philippe Dauman …

  • Oil slips for second day as $50 level sparks new output fears Reuters

    Oil prices dipped for a second day in a row on Friday as some investors took profit on a surge to seven-month highs while others worried about higher production with the market hovering near $50 (£34) …

    A gas station attendant pumps fuel into a customer's car at PetroChina's petrol station in Beijing

    Oil prices dipped for a second day in a row on Friday as some investors took profit on a surge to seven-month highs while others worried about higher production with the market hovering near $50 (£34) a barrel. The dollar spiked after Federal Reserve Chair Janet Yellen said a U.S. rate hike was probably appropriate in …

  • Verizon strike seen lowering U.S. May payrolls by 35,000 jobs Reuters

    The department's monthly strike report showed 35,100 Verizon employees were idle during the survey period for the May payrolls count. Striking workers who do not receive a paycheck during the period are …

    People demonstrate outside a Verizon wireless store during a strike in New York, U.S., April 18, 2016

    The department's monthly strike report showed 35,100 Verizon employees were idle during the survey period for the May payrolls count. Striking workers who do not receive a paycheck during the period are considered unemployed. Labor Secretary Thomas Perez said on Friday that Verizon and unions representing the striking …

  • Monsanto boss could net $70 million from a Bayer takeover Reuters

    By Pamela Barbaglia, Tom Bergin and Anjuli Davies LONDON (Reuters) - Monsanto boss Hugh Grant could land more than $70 million if the world's largest seed company is taken over by German chemicals giant …

    Hugh Grant, Chairman and CEO of Monsanto, participates in a panel discussion at the 2015 Fortune Global Forum in San Francisco

    By Pamela Barbaglia, Tom Bergin and Anjuli Davies LONDON (Reuters) - Monsanto boss Hugh Grant could land more than $70 million if the world's largest seed company is taken over by German chemicals giant Bayer AG . The U.S. firm said it was open to engaging in further negotiations with Bayer after turning down its $62 …

  • Trudeau says he's optimistic about G7 leaders' vows on ransoms, economy The Canadian Press

    SHIMA, Japan - Justin Trudeau says he's encouraged by the pledges made Friday by his fellow Group of Seven leaders in Japan, on both their renewed vow to stop paying ransoms for hostages and their …

    Trudeau says he's optimistic about G7 leaders' vows on ransoms, economy

    SHIMA, Japan - Justin Trudeau says he's encouraged by the pledges made Friday by his fellow Group of Seven leaders in Japan, on both their renewed vow to stop paying ransoms for hostages and their approach ...

  • Saudi Aramco boosting market share as it prepares for listing: CEO Reuters

    By Reem Shamseddine KHOBAR, Saudi Arabia (Reuters) - Saudi oil giant Aramco is gaining market share and pushing for greater efficiency, chief executive Amin Nasser said in an interview, as it acts as …

    Amin H. Nasser, President and CEO of Saudi Arabian Oil Company Saudi Aramco, attends the Oil and Gas Climate Initiative summit Paris

    By Reem Shamseddine KHOBAR, Saudi Arabia (Reuters) - Saudi oil giant Aramco is gaining market share and pushing for greater efficiency, chief executive Amin Nasser said in an interview, as it acts as a "bridge" to a future when the nation relies less on energy exports. Nasser also told Reuters that the state-owned group …

  • Adidas sells U.S. apparel firm Mitchell & Ness Reuters

    Adidas said it had agreed to sell U.S. sportswear seller Mitchell & Ness, resulting in a one-time gain in a the low to medium double-digit million euro range. "Nostalgia headwear and apparel is not core …

    Adidas logo is pictured at shirt before company annual general meeting in Fuerth

    Adidas said it had agreed to sell U.S. sportswear seller Mitchell & Ness, resulting in a one-time gain in a the low to medium double-digit million euro range. "Nostalgia headwear and apparel is not core to this strategy and the sale of Mitchell & Ness will allow us to reduce complexity and pursue our target consumer more …

  • Chinese users criticize Microsoft's push for Windows 10 upgrade: Xinhua Reuters

    Chinese users of Microsoft products are criticizing the software company's push to get them to mandatorily upgrade their Windows operating systems, the official Xinhua news agency reported on Friday.  …

    A computer screen shows features of the Windows 10 operating system at the Microsoft store at Roosevelt Field in Garden City

    Chinese users of Microsoft products are criticizing the software company's push to get them to mandatorily upgrade their Windows operating systems, the official Xinhua news agency reported on Friday. Posts critical of Microsoft on microblog site Weibo relating to the Windows 10 upgrade, which Microsoft users must switch …

  • Short sellers circle Alibaba amid SEC probe Reuters

    By Jennifer Ablan NEW YORK (Reuters) - Alibaba Group Holding Ltd , which disclosed it is under investigation for its accounting practices, has emerged as one of the short-selling community's favorite …

    A sign of Alibaba Group is seen at CES Asia 2016 in Shanghai

    By Jennifer Ablan NEW YORK (Reuters) - Alibaba Group Holding Ltd , which disclosed it is under investigation for its accounting practices, has emerged as one of the short-selling community's favorite targets in the relatively short time it has been in the public market. Noted short-sellers Jim Chanos of Kynikos Associates …

  • Samsung Elec to launch Samsung Pay web payments app: Electronic Times Reuters

    Tech giant Samsung Electronics Co Ltd will launch a smartphone app in South Korea that would allow for easier use of its mobile payments service for online transactions, the Electronic Times reported on …

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

    Tech giant Samsung Electronics Co Ltd will launch a smartphone app in South Korea that would allow for easier use of its mobile payments service for online transactions, the Electronic Times reported on Friday citing unnamed sources. The South Korean paper said the app, to be called Samsung Pay mini, would be compatible …

  • Oil dips after hitting $50/bbl; U.S. stocks steady Reuters

    By Caroline Valetkevitch NEW YORK (Reuters) - Oil prices eased on Thursday after topping $50 a barrel for the first time in about seven months, while U.S. stocks ended near flat after two days of strong …

    Traders work on the floor of the NYSE in New York

    By Caroline Valetkevitch NEW YORK (Reuters) - Oil prices eased on Thursday after topping $50 a barrel for the first time in about seven months, while U.S. stocks ended near flat after two days of strong gains. Concern that robust oil price gains could encourage more output weighed on the energy market. Oil futures have …

  • Citigroup to pay $425 million over attempted interest rate manipulation Reuters

    (Reuters) - Citigroup Inc has agreed to pay $425 million to resolve civil charges that it tried to manipulate interest rate benchmarks. In announcing the settlement on Wednesday, the Commodities Futures …

    People walk past a branch of Citibank in Beijing

    (Reuters) - Citigroup Inc has agreed to pay $425 million to resolve civil charges that it tried to manipulate interest rate benchmarks. In announcing the settlement on Wednesday, the Commodities Futures Trading Commission said Citigroup affiliates also made false reports in connection with ISDAFIX benchmark rates and …

  • Tiffany's 'old-world luxury' fails to charm millennials Reuters

    For Alan Feid, a 28-year-old looking to buy an engagement ring for his fiancée, the rings he found in the diamond district in Manhattan were just as good as the ones he saw at Tiffany & Co's flagship …

    The Tiffany & Co. logo is seen on an awning of their store in Manhasset, New York,

    For Alan Feid, a 28-year-old looking to buy an engagement ring for his fiancée, the rings he found in the diamond district in Manhattan were just as good as the ones he saw at Tiffany & Co's flagship store on Fifth Avenue. Tiffany's jewelry, long considered a status symbol, has been patronized by Hollywood A-listers and …

  • Don't lie, don't cheat, don't start rumors, says new FX code Reuters

    By Patrick Graham LONDON (Reuters) - The first global code of conduct for currency trading has banned dealers from lying and starting false rumors as part of new guidelines aimed at rebuilding trust in …

    Currency signs of Japanese Yen, Euro and the U.S. dollar are seen on a board outside a currency exchange office at Narita International airport

    By Patrick Graham LONDON (Reuters) - The first global code of conduct for currency trading has banned dealers from lying and starting false rumors as part of new guidelines aimed at rebuilding trust in a foreign exchange market plagued by scandals and accusations of manipulation. The document, released on Thursday after …

  • McDonald's French HQ searched in tax probe: sources Reuters

    French investigators searched McDonald's French headquarters on May 18, targetting the U.S. fast food chain in a tax probe, sources with knowledge of the matter told Reuters on Thursday. One of the sources …

    File photo of McDonald's logo in Paris

    French investigators searched McDonald's French headquarters on May 18, targetting the U.S. fast food chain in a tax probe, sources with knowledge of the matter told Reuters on Thursday. One of the sources said a preliminary inquiry had been opened after former investigating magistrate and politician Eva Joly filed a lawsuit …

  • BMW CEO poised to shake up top team: report Reuters

    BMW plans to appoint new finance and purchasing chiefs as Chief Executive Harald Krueger builds a younger management team to lead the German carmaker into the future, a monthly magazine reported on Thursday. …

    The BMW logo is seen on the wheel of a vehicle presented at the Auto China 2016 auto show in Beijing

    BMW plans to appoint new finance and purchasing chiefs as Chief Executive Harald Krueger builds a younger management team to lead the German carmaker into the future, a monthly magazine reported on Thursday. Krueger, a 50-year-old who took over a year ago from Norbert Reithofer, wants to replace finance chief Friedrich …

  • Takata in rescue talks with KKR, other investors: sources Reuters

    By Taro Fuse and Junko Fujita TOKYO (Reuters) - Takata Corp <7312.T> is in bailout talks with a number of potential investors including private equity firm KKR & Co , people familiar with the matter said …

    Visitors walk past a logo of Takata Corp on its display at a showroom for vehicles in Tokyo, Japan

    By Taro Fuse and Junko Fujita TOKYO (Reuters) - Takata Corp <7312.T> is in bailout talks with a number of potential investors including private equity firm KKR & Co , people familiar with the matter said on Thursday, driving up shares in the embattled auto parts maker. The sources, who cannot be named as they are not …

  • Business jet makers face battle on pricing as deliveries drop Reuters

    By Cyril Altmeyer GENEVA (Reuters) - Business jet manufacturers are locked in a price battle as deliveries of new aircraft remain weak and recently sold aircraft come back onto the market at attractive …

    Visitors look at Global 7000 Bombardier aircraft replica during EBACE at Cointrin airport in Geneva

    By Cyril Altmeyer GENEVA (Reuters) - Business jet manufacturers are locked in a price battle as deliveries of new aircraft remain weak and recently sold aircraft come back onto the market at attractive prices, delegates at an annual corporate jet convention said. Demand for business jets reflects the health of economies …

  • Singapore ex-BSI wealth manager stays in remand as prosecutor challenging bail Reuters

    A former Singapore wealth manager of troubled Swiss private bank BSI Bank will remain in remand of white-collar police after the state prosecutor said it is challenging a court's decision on Thursday to …

    An employee enters the reception area of Swiss bank BSI's office in Singapore

    A former Singapore wealth manager of troubled Swiss private bank BSI Bank will remain in remand of white-collar police after the state prosecutor said it is challenging a court's decision on Thursday to grant him bail of S$600,000 ($435,761). The case is part of Singapore's money laundering investigation related to scandal-hit …