World + Economy

Traders work on the floor of the New York Stock Exchange in New York

Stock rally in recent months driven by global economy, not Trump: Robeco CIO

Reuters - By Tomo Uetake TOKYO (Reuters) - A rally in global stock markets in the past few months is being driven more by improving economic fundamentals than by expectations of more U.S. fiscal stimulus unde…

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  • Traders work on the floor of the New York Stock Exchange in New York
    Stock rally in recent months driven by global economy, not Trump: Robeco CIO Reuters

    By Tomo Uetake TOKYO (Reuters) - A rally in global stock markets in the past few months is being driven more by improving economic fundamentals than by expectations of more U.S. fiscal stimulus under …

    Traders work on the floor of the New York Stock Exchange in New York

    By Tomo Uetake TOKYO (Reuters) - A rally in global stock markets in the past few months is being driven more by improving economic fundamentals than by expectations of more U.S. fiscal stimulus under President-elect Donald Trump, a chief investment officer of Dutch asset management firm Robeco said. To the contrary, uncertainty …

  • Oil rises on weaker dollar, U.S. production outlook caps gains Reuters

    By Naveen Thukral SINGAPORE (Reuters) - Oil prices rose on Wednesday with a weaker dollar underpinning the market, although gains were limited by expectations that U.S. producers would boost output.  …

    Petrol nozzles are seen at Cosmo Energy Holdings' Cosmo Oil service station in Tokyo

    By Naveen Thukral SINGAPORE (Reuters) - Oil prices rose on Wednesday with a weaker dollar underpinning the market, although gains were limited by expectations that U.S. producers would boost output. U.S. West Texas Intermediate (WTI) crude oil futures were trading up 22 cents at $52.70 per barrel at 0742 GMT. Brent crude …

  • China economic growth to slow slightly this year as policymakers focus on risks Reuters

    China's economy will likely expand 6.5 percent this year as authorities tolerate a further slowdown so they can focus on containing increasing financial risks, but a weakening yuan will complicate their …

    A Chinese flag is seen near a construction site in Beijing's central business area

    China's economy will likely expand 6.5 percent this year as authorities tolerate a further slowdown so they can focus on containing increasing financial risks, but a weakening yuan will complicate their policy choices, a Reuters poll showed. The forecast would represent only a mild cooling from 2016's expected growth of …

  • Samsung scion Lee faces court hearing on arrest warrant Reuters

    Jay Y. Lee, the 48-year-old leader of the Samsung Group, is due to appear at a court hearing on Wednesday when a judge will decide whether to issue an arrest warrant over his alleged role in a corruption …

    FILE PHOTO: Jay Y. Lee, vice chairman of Samsung Electronics, arrives to be questioned in Seoul

    Jay Y. Lee, the 48-year-old leader of the Samsung Group, is due to appear at a court hearing on Wednesday when a judge will decide whether to issue an arrest warrant over his alleged role in a corruption scandal that has rocked South Korea. A special prosecutor on Monday said it would seek a warrant to arrest the third-generation …

  • Oil steady as weak dollar offsets U.S., Russia output forecasts Reuters

    By Scott DiSavino NEW YORK (Reuters) - Oil prices were little changed on Tuesday as a decline in the U.S. dollar and comments by Saudi Arabia that it would adhere to OPEC's commitment to cut output.  …

    Men fish near an oil refinery in Kawasaki

    By Scott DiSavino NEW YORK (Reuters) - Oil prices were little changed on Tuesday as a decline in the U.S. dollar and comments by Saudi Arabia that it would adhere to OPEC's commitment to cut output. The dollar fell to a near six-week low against a basket of currencies after U.S. President-elect Donald Trump said that …

  • Creditor group challenges Brazilian firm Oi's restructuring plan Reuters

    A creditor group has challenged Oi SA's in-court reorganization plan presented in September, saying the Brazilian wireless carrier's proposed restructuring has "illegal and abusive elements" that favor …

    The logo of Brazil's largest fixed-line telecoms group Oi is seen inside a shop at a shopping centre in Sao Paulo

    A creditor group has challenged Oi SA's in-court reorganization plan presented in September, saying the Brazilian wireless carrier's proposed restructuring has "illegal and abusive elements" that favor shareholders at the expense of bondholders. In a statement on Tuesday, the group accused Oi of being reluctant to share …

  • Hyundai Motor to boost U.S. investment as automakers respond to Trump Reuters

    By Hyunjoo Jin SEOUL (Reuters) - The Hyundai Motor Group said it plans to lift U.S. investment by 50 percent to $3.1 billion over five years and may build a new plant there - the latest auto firm to announce …

    FILE PHOTO -  The 2017 Hyundai Ioniq electric car is seen at the 2016 New York International Auto Show in Manhattan, New York

    By Hyunjoo Jin SEOUL (Reuters) - The Hyundai Motor Group said it plans to lift U.S. investment by 50 percent to $3.1 billion over five years and may build a new plant there - the latest auto firm to announce fresh spending after President-elect Donald Trump threatened to tax imports. Under pressure to deliver on campaign …

  • Carlyle to become largest shareholder in South Africa's Global Credit Ratings Reuters

    Carlyle Group has agreed to become the largest shareholder in Johannesburg-based Global Credit Ratings (GCR), the U.S. buyout fund said on Tuesday, looking to broaden the pan-African ratings agency's …

    A general view of the lobby outside of the Carlyle Group offices in Washington

    Carlyle Group has agreed to become the largest shareholder in Johannesburg-based Global Credit Ratings (GCR), the U.S. buyout fund said on Tuesday, looking to broaden the pan-African ratings agency's services. Carlyle is set to buy around half of the equity in GCR from its management founders and German development finance …

  • Trump calls corporate tax border adjustment 'too complicated': WSJ Reuters

    (Reuters) - U.S. President-elect Donald Trump says the border adjustment provision, a feature of House Republicans' corporate-tax plan, is "too complicated", the Wall Street Journal reported …

    Presidente eleito dos EUA, Donald Trump, em Nova York

    (Reuters) - U.S. President-elect Donald Trump says the border adjustment provision, a feature of House Republicans' corporate-tax plan, is "too complicated", the Wall Street Journal reported on Monday. "Anytime I hear border adjustment, I don't love it", Trump told the newspaper in an interview …

  • Oil up on Saudi commitment to cut; U.S. output seen rising Reuters

    By Ethan Lou CALGARY, Alberta (Reuters) - Oil prices settled up on Monday, as Saudi Arabia's commitments to reducing production offset a report forecasting U.S. output would again rise this year. The …

    FILE PHOTO: A worker checks the valve of an oil pipe at Lukoil company owned Imilorskoye oil field outside the Siberian city of Kogalym

    By Ethan Lou CALGARY, Alberta (Reuters) - Oil prices settled up on Monday, as Saudi Arabia's commitments to reducing production offset a report forecasting U.S. output would again rise this year. The Organization of the Petroleum Exporting Countries (OPEC) has agreed to cut production by 1.2 million barrels per day (bpd) …

  • Davos CEOs more bullish in short-term, politics clouds future Reuters

    A PricewaterhouseCoopers (PwC) survey of nearly 1,400 CEOs released on Monday, on the eve of the annual World Economic Forum in Davos, found that 29 percent expected global economic growth to pick up in …

    A worker prepares the logo of the World Economic Forum in the congress center of the annual meeting of the World Economic Forum (WEF) in Davos

    A PricewaterhouseCoopers (PwC) survey of nearly 1,400 CEOs released on Monday, on the eve of the annual World Economic Forum in Davos, found that 29 percent expected global economic growth to pick up in 2017, up from only 27 percent last year. Last year's outlook was particularly gloomy due to two years of falling oil …

  • Syngenta CEO expects regulatory approval for ChemChina deal soon: CNBC Reuters

    ZURICH (Reuters) - Syngenta Chief Executive Erik Fyrwald expects regulatory approval soon for ChemChina's proposed $43 billion takeover of the Swiss pesticides and seeds group, he said on Monday. "I …

    CEO Fyrwald of Swiss agrochemicals maker Syngenta addresses news conference in Basel

    ZURICH (Reuters) - Syngenta Chief Executive Erik Fyrwald expects regulatory approval soon for ChemChina's proposed $43 billion takeover of the Swiss pesticides and seeds group, he said on Monday. "I am very confident that we will finish the deal. We are making a lot of progress," he told broadcaster CNBC in …

  • Luxottica and Essilor in 46 billion euro merger to create eyewear giant Reuters

    By Valentina Za and Sudip Kar-Gupta MILAN/PARIS (Reuters) - Italy's Luxottica and France's Essilor have agreed a 46 billion euro ($49 billion) merger to create a global eyewear powerhouse with annual …

    FILE PHOTO:  Sunglasses from Ray Ban are on display at an optician shop in Hanau

    By Valentina Za and Sudip Kar-Gupta MILAN/PARIS (Reuters) - Italy's Luxottica and France's Essilor have agreed a 46 billion euro ($49 billion) merger to create a global eyewear powerhouse with annual revenue of more than 15 billion euros. The all-share deal is one of Europe's largest cross-border tie-ups and brings …

  • Burberry's new CEO to join firm next week Reuters

    Marco Gobbetti, recruited last year from French brand Celine to be the new chief executive of Burberry , will start work next week and take on full responsibilities in July, the British luxury goods company …

    A customer walks in front of a Burberry store in central London

    Marco Gobbetti, recruited last year from French brand Celine to be the new chief executive of Burberry , will start work next week and take on full responsibilities in July, the British luxury goods company said on Monday. Italian Gobbetti was named as Christopher Bailey's successor as Burberry CEO last July but contractual …

  • Exclusive: China to target around 6.5 percent growth in 2017 - sources Reuters

    By Kevin Yao BEIJING (Reuters) - China will lower its 2017 economic growth target to around 6.5 percent from last year's 6.5-7 percent, policy sources said, reinforcing a policy shift from supporting …

    FILE PHOTO: Apartment blocks are pictured on a hazy day in Wuqing district of Tianjin

    By Kevin Yao BEIJING (Reuters) - China will lower its 2017 economic growth target to around 6.5 percent from last year's 6.5-7 percent, policy sources said, reinforcing a policy shift from supporting growth to pushing reforms to contain debt and housing risks. The proposed target was endorsed by top leaders at the closed-door …

  • China's Xi says Chinese economy to keep growing steadily Reuters

    By Tom Miles BERN (Reuters) - China's economy will remain stable and keep growing steadily while resisting protectionism, President Xi Jinping told Swiss executives on Monday. "We are confident" Xi said, …

    Chinese President Xi Jinping addresses the media during an official visit in Bern

    By Tom Miles BERN (Reuters) - China's economy will remain stable and keep growing steadily while resisting protectionism, President Xi Jinping told Swiss executives on Monday. "We are confident" Xi said, adding that there were headwinds facing the global economy, which is still weak. "Overall China's economy is performing …

  • Airbus CEO sees 'flying car' prototype ready by end of year Reuters

    Airbus Group plans to test a prototype for a self-piloted flying car as a way of avoiding gridlock on city roads by the end of the year, the aerospace group's chief executive said on Monday. Airbus last …

    Airbus Group Chief Executive Tom Enders speaks during a news conference on the aerospace group's annual results, in London

    Airbus Group plans to test a prototype for a self-piloted flying car as a way of avoiding gridlock on city roads by the end of the year, the aerospace group's chief executive said on Monday. Airbus last year formed a division called Urban Air Mobility that is exploring concepts such as a vehicle to transport individuals …

  • Profit growth pickup could justify Wall Street rally Reuters

    By Caroline Valetkevitch NEW YORK (Reuters) - U.S. companies are set to report their strongest profit growth in two years, which could go a long way toward justifying Wall Street's record-breaking rally, …

    A street sign for Wall Street is seen outside the New York Stock Exchange in Manhattan, New York City

    By Caroline Valetkevitch NEW YORK (Reuters) - U.S. companies are set to report their strongest profit growth in two years, which could go a long way toward justifying Wall Street's record-breaking rally, say stock investors who anticipate many companies will top expectations. Fresh from a year-long decline in quarterly …

  • South Korea prosecutor seeks arrest of Samsung chief for bribery Reuters

    By Ju-min Park and Se Young Lee SEOUL (Reuters) - South Korea's special prosecutor on Monday sought a warrant to arrest the head of Samsung Group [SAGR.UL], the country's largest conglomerate, accusing …

    Samsung Electronics vice chairman Jay Y. Lee arrives to attend a hearing at the National Assembly in Seoul

    By Ju-min Park and Se Young Lee SEOUL (Reuters) - South Korea's special prosecutor on Monday sought a warrant to arrest the head of Samsung Group [SAGR.UL], the country's largest conglomerate, accusing him of paying multi-million dollar bribes to a friend of President Park Geun-hye. Investigators had grilled Samsung Group …

  • JPMorgan upgrades Indonesian stocks to 'neutral' after row Reuters

    By Gayatri Suroyo and Hidayat Setiaji JAKARTA (Reuters) - JPMorgan Chase & Co upgraded its investment recommendation on Indonesian stocks to "neutral" from "underweight" on Monday, partially reversing …

    The logo of Dow Jones Industrial Average stock market index listed company JPMorgan Chase (JPM) is seen in Los Angeles

    By Gayatri Suroyo and Hidayat Setiaji JAKARTA (Reuters) - JPMorgan Chase & Co upgraded its investment recommendation on Indonesian stocks to "neutral" from "underweight" on Monday, partially reversing a move it made in November that upset the government. Indonesia cut its business ties with JPMorgan after the U.S. investment …