Toshiba mulls battery plant in Australia as Japan seeks sub deal: sources

TOKYO (Reuters) - Japan has enlisted electronics firm Toshiba Corp to help it try to win Asia's biggest defense contract, a A$50 billion ($36 billion) deal to build a dozen submarines for Australia, three sources said.


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Apple lawyer, FBI director to face off before Congress

WASHINGTON (Reuters) - Apple Inc and the U.S. Federal Bureau of Investigation will make their cases before a congressional panel on Tuesday regarding a court order to force the technology company to give the FBI data from the iPhone belonging to one of the San Bernardino shooters.











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Chinese pitch big M&A break-up fees, small stakes to allay U.S. regulatory fears

HONG KONG (Reuters) - Chinese companies are offering to pay record break-up fees and are willing to settle for minority stakes in U.S. mergers and acquisitions in an attempt to assuage concerns of potential overseas partners about regulatory snags scuttling the deals.


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Fed's Dudley sees risks to U.S. economic outlook tilting to downside

(Reuters) - An influential Federal Reserve official on Tuesday said he sees downside risks to his U.S. economic outlook, an assessment that could flag a longer pause before the Fed's next interest-rate hike than he and his colleagues had earlier signaled.











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Asian shares inch up after China stimulus step

TOKYO (Reuters) - Asian shares rose on Tuesday, bolstered by China's monetary easing and downbeat manufacturing and service surveys that raised hopes of additional measures, though lackluster U.S. and European data kept concerns about global growth momentum alive.


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Argentina, lead creditors settle 14-year debt battle for $4.65 billion

NEW YORK/BUENOS AIRES (Reuters) - Argentina has agreed to a $4.65 billion cash payment to its main holdout creditors and will present the deal to Congress this week for a vote which would end 14 years of bitter legal battles and pave the way for its return to global credit markets.











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Judge sets trial for dispute over Redstone's mental capacity

LOS ANGELES (Reuters) - Media mogul Sumner Redstone's lawyers suffered a defeat in court on Monday as a California judge tentatively ruled that a lawsuit challenging his mental competency could proceed to trial. The decision, by Los Angeles Superior Court Judge David Cowan, dashes an attempt by Redstone's lawyers to put a quick end to the case, which has raised questions about the 92-year-old's role in decision-making at Viacom Inc and CBS Corp.











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N.Y. judge backs Apple in encryption fight with government

(Reuters) - The U.S. government cannot force Apple Inc to unlock an iPhone in a New York drug case, a federal judge in Brooklyn said on Monday, a ruling that bolsters the company's arguments in its landmark legal showdown with the Justice Department over encryption and privacy.











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VW confident may reach deal with U.S. on technical fix: CEO

GENEVA (Reuters) - Volkswagen AG is confident it may reach an agreement with U.S. regulators on a technical fix for diesel cars, vehicle buybacks and fines, Chief Executive Matthias Mueller said on Monday. The U.S. Justice Department has sued Volkswagen for up to $46 billion for violating U.S. environmental laws‎. There is still no fix for nearly 600,000 affected cars in the United States more than five months after VW's emissions test-rigging scandal broke.


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Toyota, BMW strongly motivated to collaborate on sportscar: Totoya executive

GENEVA (Reuters) - Toyota Motor Corp and Germany's BMW are still keen to develop a common sportscar architecture but have yet to decide on a timeline for the project, a senior executive at the Japanese carmaker said on Monday.


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Valeant shares slide on news of probe by U.S. SEC

(Reuters) - Shares in Valeant Pharmaceuticals International Inc fell as much as 21 percent on Monday after the embattled drugmaker revealed that it was under investigation by the U.S. Securities and Exchange Commision.


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GE to 'aggressively' cut costs in 2016: Immelt

(Reuters) - General Electric Co will continue to "aggressively" cut costs this year, Chief Executive Jeff Immelt said, reiterating the company's target for spending on restructuring in 2016.


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Unlocking iPhone would leave millions exposed, Apple to tell Congress

WASHINGTON (Reuters) - Unlocking an iPhone used by one of the San Bernardino shooters would leave hundreds of millions of Apple Inc device owners vulnerable to cybercriminals and other hackers, the company's top lawyer is expected to tell U.S. lawmakers on Tuesday.


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News Corp faces U.S. trial over monopoly of in-store ads

NEW YORK (Reuters) - News Corp went to trial on Monday in a class action lawsuit that accuses the company of monopolizing the market for in-store promotions at some 52,500 retail stores across the United States.


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IBM to purchase cyber security firm Resilient Systems

(Reuters) - IBM Security plans to acquire private cyber security firm Resilient Systems, the computing giant said Monday, as part of a move to expand its role in the incident response market.











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Wall Street opens little changed as oil edges up

(Reuters) - U.S. stocks were little changed at the open on Monday as oil prices edged higher after Saudi Arabia advocated cooperation among producers and China cut a key reserve requirement ratio.


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Pay for Berkshire's Abel jumped 48 percent to $40.77 million in 2015

(Reuters) - The energy unit of Warren Buffett's Berkshire Hathaway Inc on Monday said Gregory Abel, its chairman and chief executive, saw his compensation jump 48 percent last year to $40.77 million, reflecting a large incentive award.


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Global funds flee stocks, raise bond holdings to five-year high as growth fears mount

LONDON (Reuters) - Investors dumped equities in February as allocations hit the lowest level in at least five years and world stocks fell for the fourth month in a row, with fears of a global recession keeping risk appetite subdued.











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Amazon to attack UK grocery market with Morrisons deal

LONDON (Reuters) - Amazon has launched its biggest foray into food outside of the United States with a deal in Britain to offer fresh and frozen goods to customers, in some places as quickly as under one hour, in a deal with supermarket Morrisons.


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China cuts reserve requirement ratio for fifth time since Feb. 2015

BEIJING (Reuters) - China's central bank reduced the amount of cash that banks must hold as reserves for the fifth time since February, 2015, as it seeks to revive a stumbling economy.


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U.S. funds cut recommended equity allocations in February: Reuters poll

(Reuters) - U.S.-based fund managers cut their equity holdings in February and boosted cash to a nine-month high on persistent worries about a global economic slowdown, a Reuters poll found on Monday.











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Putin summons top Russian oilmen on Tuesday: sources

MOSCOW (Reuters) - President Vladimir Putin has called for a meeting with top managers of Russia's leading oil producers on Tuesday, which is is expected to be dominated by low oil prices and taxation, industry sources said on Monday.


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Debt swaps become a tough sell for cash-strapped U.S. energy firms

NEW YORK (Reuters) - Highly-leveraged U.S. energy companies are struggling to carry out debt swaps as part of their survival strategy because plummeting oil and gas prices make investors either avoid such deals or demand tougher terms.


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Insight: In slump, oil firms turn to labs, data centers for help

GRAND FORKS, N.D. (Reuters) - In a basement lab of a North Dakota research center, Beth Kurz and an assistant are peering through a scanning electron microscope, studying samples from the state's vast Bakken shale oil formation.


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U.S. shale's message for OPEC: above $40, we are coming back

NEW YORK (Reuters) - For leading U.S. shale oil producers, $40 is the new $70.


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Oil prices rise, signs mount that market is bottoming out

SINGAPORE (Reuters) - Crude futures rose on Monday after gaining over 15 percent last week, with some indicators pointing to the possibility the market could be bottoming out.











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New Year hangover: Strains show in China's factory heartland

DONGGUAN, China (Reuters) - Millions of migrant workers streaming back to China's industrial heartland after the long lunar New Year break are facing an uncertain future, as smaller factories in particular struggle to cope with anemic orders and rising inventories.











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Starbucks cafes to open in Italy in early 2017

NEW YORK (Reuters) - Starbucks Corp , the world's biggest coffee chain, said on Sunday that Italian businessman Antonio Percassi would open the first Starbucks cafe in Milan in early 2017, bringing the brand to one of the top coffee-consuming nations in Europe.











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China expects to lay off 1.8 mln workers in coal, steel sectors

BEIJING (Reuters) - China expects to lay off 1.8 million workers in the coal and steel sectors as part of its efforts to reduce industrial overcapacity, an official at the human resources and social security ministry said on Monday.


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Asian shares off to cautious start after G20, U.S. data

TOKYO (Reuters) - Asian stocks were off to a cautious start on Monday after a weekend meeting of the Group of 20 economic policymakers ended with no new coordinated action to spur global growth and as solid U.S. data revived expectation of a U.S. rate hike before year-end.


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EPA requests information from Mercedes-Benz over emission levels

FRANKFURT (Reuters) - Daimler on Sunday said the United States Environmental Protection Agency (EPA) had requested information from its luxury car brand Mercedes-Benz to explain emissions levels in some of its cars.











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Central banks near policy limits but back in focus after G20

FRANKFURT/TOKYO (Reuters) - The widely predicted failure of G20 leaders to agree on bold new steps to reinvigorate the world economy at a meeting in Shanghai this weekend puts the onus firmly back on central bankers.


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Post-Dieselgate, Volkswagen retools itself for faster ride

BERLIN (Reuters) - The biggest engineering feat on display when Volkswagen unveils its new concept car on Tuesday will be the team developing it: a post-Dieselgate management system crafted to operate faster, cheaper and with a lighter grip on the wheel.











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U.S. urges China to keep moving to a market-oriented exchange rate

BEIJING (Reuters) - U.S. Treasury Secretary Jack Lew said on Sunday that it was critical for China to continue moving toward a more market-oriented exchange rate and clearly communicate its actions to the market.


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Warren Buffett defends 3G, touts economy in record year for Berkshire

(Reuters) - Warren Buffett on Saturday used his annual letter to Berkshire Hathaway Inc shareholders to launch vigorous defenses of an aggressive private equity partner and a maligned mobile home unit, as his conglomerate recorded robust profits.











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VW ex-CEO told of defeat device admission weeks before news was public: BamS

FRANKFURT (Reuters) - Volkswagen's former chief executive Martin Winterkorn was informed that the carmaker had told regulators it was using defeat devices two weeks before the scandal became public, German tabloid Bild am Sonntag reported on Sunday.


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Disney resets theme park ticket prices for slow, busy times

LOS ANGELES (Reuters) - Walt Disney Co unveiled new single-day ticket prices on Saturday for the company's U.S. theme parks, switching to a three-tiered system that charges visitors more on the year's busiest days and less during typically slower periods.


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Warren Buffett's Berkshire Hathaway fourth-quarter profit rises 32 percent

(Reuters) - Warren Buffett's Berkshire Hathaway Inc on Saturday said fourth-quarter profit rose 32 percent, helped by improved results in its insurance operations and higher gains from investments and derivatives.


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After G20 stalemate, focus turns to signs of growth momentum

LONDON (Reuters) - Investors worried about the risk of a new global recession are hoping that data over the coming week will show that some momentum remains in the world economy, eight years into its slow recovery from the financial crisis.











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Deepening default fears cast shadow over Venezuela's oil flows

HOUSTON (Reuters) - As Venezuela grows closer to exhausting nearly every means of paying its debt, some oil market participants are seriously pondering the possible implications of an unprecedented event: the default of a major crude producing company.


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U.S. Navy to look at alternatives for remote mine-hunting vehicle

WASHINGTON (Reuters) - U.S. Navy Secretary Ray Mabus said on Friday he was not satisfied with the reliability of the remote mine-hunting vehicle being developed by Lockheed Martin Corp and would look for alternatives.











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Total fined by French court in Iraq oil-for-food case

PARIS (Reuters) - A Paris court fined Total 750,000 euros ($825,000) on Friday for corrupting foreign officials, overturning an earlier acquittal over the French oil giant's role in the United Nations' Iraqi oil-for-food program.


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G20 to say world needs to look beyond ultra-easy policy for growth

SHANGHAI (Reuters) - The world's top economies are set to declare on Saturday that they need to look beyond ultra-low interest rates and printing money if the global economy is to shake off its torpor, while promising a new focus on structural reform to spark activity.











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Australian minister surprised by Holden closure

SYDNEY (Reuters) - An Australian minister has vowed to "get to the bottom" of a dropped takeover plan for a Holden car assembly plant in Adelaide that would have kept the factory open.


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Blackstone CEO took home $810.6 million in 2015

NEW YORK (Reuters) - Blackstone Group LP Chief Executive Stephen Schwarzman took home $810.6 million in 2015, after the New York-based asset manager returned a record amount of cash to its shareholders following a wave of lucrative asset sales.


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U.S. authorities question Citigroup about transactions in FIFA corruption probe

NEW YORK (Reuters) - Citigroup Inc said it has received questions from U.S. federal authorities investigating the role of financial institutions in alleged corruption and money laundering involving FIFA.


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Exclusive: Boeing plans layoffs for airplane engineers

NEW YORK (Reuters) - Boeing Co said on Friday that it is considering layoffs of airplane engineers, a plan that it said may cause it to reorganize or consolidate its engineering teams, according to an internal memo seen by Reuters.


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Caterpillar, Deere cut 170 more jobs as sales slump

(Reuters) - Caterpillar Inc and Deere & Co said Friday they are cutting a combined total of 170 jobs in response to slumping sales of their heavy machinery.











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United Tech rejects Honeywell's $90.7 billion offer

(Reuters) - U.S. industrial conglomerate United Technologies Corp on Friday rejected a $90.7 billion offer by rival aerospace supplier Honeywell International Inc, saying that pursuing a merger would be "irresponsible" toward its shareholders.











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Apple CEO commits to annual dividend raise, says is advocate for privacy

(Reuters) - Chief Executive Tim Cook said on Friday Apple Inc is committed to raising its dividend annually, a move designed to please investors but also a sign the world's most famous technology company may no longer be a growth stock.


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Apple encryption stand highlights mobile operators' dilemma

BARCELONA (Reuters) - Apple Inc's stance on privacy in the face of a U.S. government demand to unlock an iPhone belonging to one of the San Bernardino attackers has raised awkward questions for the world's mobile network operators.











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Samsung wins appeal in patent dispute with Apple

(Reuters) - A U.S. appeals court on Friday overturned a $120 million jury verdict against Samsung, finally handing the South Korean smartphone maker a significant win in its longstanding patent feud with top rival Apple.











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Big verdict doesn't assure more wins for plaintiffs in talc-cancer cases

NEW YORK(Reuters) - The $72 million verdict this week against Johnson & Johnson in a U.S. case alleging links between talc-based powder and ovarian cancer has prompted global headlines, social media buzz and calls to lawyers from would-be plaintiffs.











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Futures rise ahead of GDP data; G20 meeting in focus

(Reuters) - U.S. stock index futures were higher on Friday ahead of the release of U.S. gross domestic product numbers and as China reiterated that it would not devalue its currency again but look at other means to support its economy.


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Oil industry sees Paris climate deal as chance to innovate

HOUSTON (Reuters) - If a crisis is a terrible thing to waste, the oil industry sees the Paris climate accord not as a death knell, but an opportunity to innovate and even grow.


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Asia shares nudge up as G20 talks, oil holds gains

SYDNEY (Reuters) - Asian shares made guarded gains on Friday as a gathering of world finance leaders provided a welter of reassuring comments, but little in the way of actual policy stimulus.











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J.C. Penney's quarterly sales rise 2.5 percent

(Reuters) - Department store operator J.C. Penney Co Inc reported a better-than-expected quarterly revenue, helped by strong sales at it its Home, Sephora, Footwear and Handbags divisions.


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Oil prices dip on continued oversupply, despite news of meeting to freeze output

SINGAPORE (Reuters) - Crude oil prices dipped in early trading on Friday as reports of a meeting by oil producers to freeze output failed to convince traders that enough effort was being made to rein in ballooning global oversupply.











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Shanghai G20 talks to feature hunt for ways to calm markets, lift global growth

SHANGHAI (Reuters) - The world's financial leaders will meet in Shanghai starting on Friday to discuss ways to calm global markets and spur economic growth, and are likely to declare their readiness to take action if conditions worsen.


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Foxconn deal for Sharp hits big snag, Sharp shares slide

TOKYO (Reuters) - Taiwan's Foxconn has put its takeover of Sharp Corp on hold after discovering previously undisclosed liabilities, sources said, throwing the acquisition in doubt and sending shares of the Japanese electronics maker tumbling.


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Oprah effect fails to lift Weight Watchers sales; shares plunge

(Reuters) - Weight Watchers International Inc reported a 21 percent drop in quarterly revenue, undermining hopes that new investor and media mogul Oprah Winfrey would help boost sales, sending its shares down more than 27 percent in extended trading.


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New York judge grants request to depose Viacom CEO

(Reuters) - Viacom Inc Chief Executive Philippe Dauman's lawyers failed to persuade a New York judge to quash his deposition in a high-profile lawsuit over media mogul Sumner Redstone’s mental competency.


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Apple files arguments in court opposing FBI iPhone request

(Reuters) - Apple Inc submitted a legal brief on Thursday opposing the U.S. government's attempt to force the technology company to unlock an encrypted iPhone belonging to one of the San Bernardino shooters, one day before the filing deadline.











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Buffett annual letter comes amid 'conspicuous' performance lag

NEW YORK (Reuters) - Warren Buffett will release his annual letter to Berkshire Hathaway Inc shareholders after a year when its stock price lagged the broader market by the most since 2009, adding to years of underperformance.











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VW board hires law firm to advise on emissions scandal liabilities

BERLIN (Reuters) - Volkswagen's top committee has hired a German law firm to advise it on the liabilities the carmaker could face as a result of its cheating of diesel emissions tests.


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Strong U.S. durable goods orders offer hope for manufacturing

WASHINGTON (Reuters) - New orders for long-lasting U.S. manufactured goods in January rose by the most in 10 months as demand picked up broadly, offering a ray of hope for the downtrodden manufacturing sector.











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VW advancing in settlement talks with U.S. Justice Department: lawyer

(Reuters) - A lawyer for Volkswagen AG told a federal judge on Thursday the German automaker is making progress in senior level settlement talks with the U.S. Justice Department, Environmental Protection Agency and California to reach a resolution over excess emissions in nearly 600,000 diesel vehicles.


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Wall Street gains as factory data shines amid oil gloom

(Reuters) - Wall Street was little changed in choppy trading on Thursday, breaking away from sliding oil prices, as strong U.S. durable goods data pointed to a recovery in the struggling manufacturing sector.











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Kohl's warns 2016 sales may fall

(Reuters) - U.S. department store operator Kohl's Corp warned that sales could fall this year and said it was unlikely to meet its 2017 target of $21 billion in sales because of a weak economy and a pullback in consumer spending on its core categories such as apparel.











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Valeant board debating Pearson's return as health improves: CNBC

(Reuters) - The health of Valeant Pharmaceuticals International Inc's Michael Pearson is improving, the company said on Thursday, but CNBC reported that there was debate within the board over whether he was ready to return to work.


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Dynegy, Energy Capital to buy Engie's U.S. power plants

(Reuters) - U.S. electric power company Dynegy Inc said it had partnered with private equity firm Energy Capital Partners to buy French utility Engie SA's U.S. power plants worth $3.3 billion to expand in regulated power markets.


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Domino's Pizza profit rises 31 percent on strong U.S. sales

(Reuters) - Domino's Pizza Inc reported a 31 percent jump in quarterly profit as strong growth in the United States offset the drag from a strong U.S. dollar and expenses related to a recapitalization program that included early retirement of debt.











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Mansion sales and discount dining: oil rout hits Houston's rich

HOUSTON (Reuters) - Prices for mansions in Houston's swankiest neighborhood have tumbled in lock step with crude prices. The Houston Opera has offered free season tickets to patrons who lost their jobs in the oil bust. A fancy restaurant offers cut-price dinners.


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China stocks tumble more than 6 percent, post biggest 1-day loss in a month

SHANGHAI (Reuters) - China stocks tumbled more than 6 percent on Thursday, their biggest one-day loss in a month, as investors booked profits after the market's recent rebound and awaited policy cues from global leaders gathering in Shanghai for a G20 meeting.











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China seeks to reassure trade partners on markets ahead of G20

SHANGHAI (Reuters) - China's leaders voiced support for the embattled domestic currency on Thursday, with the country's vice finance minister saying policymakers are committed to market transparency and aware of the impact their decisions have on other economies.











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Japan's Sharp decides to accept Foxconn takeover offer: source

TOKYO (Reuters) - Japan's Sharp Corp on Thursday agreed to a takeover by Taiwan's Foxconn, a source familiar with the matter said, in what would be the largest acquisition by a foreign company in Japan's insular technology sector.


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Apple working on measures to make it harder for government to hack iPhones: NYT

(Reuters) - Apple Inc is said to be developing security measures to make it even harder for the government to break into iPhones, the New York Times reported on Wednesday, citing people close to the company and security experts.


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Lockheed warns Sikorsky could underperform

WASHINGTON (Reuters) - Lockheed Martin Corp , the Pentagon's No. 1 supplier, on Wednesday warned investors that the Sikorsky helicopter unit it acquired last year could underperform, given changes in oil prices and other global economic conditions.











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Airbus CEO against Honeywell's merger with United Technologies

(Reuters) - Airbus Group SE Chief Executive Tom Enders said in statement on Wednesday that he did not see how a combination of Honeywell International Inc and United Technologies Inc (UTC) would be in his company's interests.


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Asian stocks tentative on anxiety over volatile oil

TOKYO (Reuters) - Asian shares got off to a shaky start on Thursday as investors remained cautious in the face of a fragile recovery in volatile crude oil - a source of much of the recent anxiety about the health of the global economy.











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Investor says VW must do more in emissions investigation

FRANKFURT (Reuters) - Volkswagen needs to do more to investigate how Europe's largest carmaker became embroiled in emissions cheating, shareholder Union Asset Management said on Wednesday.


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Abengoa unit files for U.S. bankruptcy with up to $10 billion in debt

WILMINGTON, Del./CHICAGO (Reuters) - Abengoa SA put its U.S. bioenergy unit into Chapter 11 bankruptcy on Wednesday with up to $10 billion in liabilities, the latest twist in the multinational parent's race to avoid becoming Spain's largest corporate failure.











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The Washington insiders who work to get Chinese deals approved

WASHINGTON/NEW YORK (Reuters) - A spate of proposed Chinese takeovers of U.S. companies, from the Chicago Stock Exchange to makers of high-end semiconductors, has created a vibrant business for a small circuit of Washington insiders who advise on how to get cross-border deals approved by the U.S. government.


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Caterpillar combining two divisions, analysts see more job cuts

(Reuters) - Caterpillar Inc will combine two divisions dealing with power and energy by June, adding more details to a massive restructuring plan, and analysts were expecting more job cuts.


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Fed's Kaplan says does not expect U.S. to enter recession this year

DALLAS (Reuters) - Dallas Federal Reserve President Robert Kaplan said on Wednesday that he does not expect the United States to enter recession this year.











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GM, Ford, Fiat Chrysler slide on Morgan Stanley price warning

DETROIT (Reuters) - Shares of General Motors Co and Ford Motor Co fell more than 5 percent early on Wednesday after Morgan Stanley said the U.S. automakers are exposed to risks of a cyclical downturn in major markets.


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The great European telecoms M&A scramble is losing momentum

BARCELONA (Reuters) - The merger and acquisition activity that has characterized the European telecoms market in recent years could soon grind to a halt, even as Orange looks to seal a potential 10 billion euro ($11 billion) deal for French rival Bouygues .


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Shell closes U.S. shale resources unit and says U.S. head to leave

LONDON (Reuters) - Oil major Royal Dutch Shell is closing a business dedicated to so-called unconventional resources, a term used by the industry to describe shale reserves, and said on Wednesday the unit's director and U.S. head Marvin Odum would leave.


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U.S. new home sales fall sharply; inventory rises

WASHINGTON, (Reuters) - New U.S. single-family home sales tumbled in January from a 10-month high as sales in the West region plunged, but the overall housing market recovery remains intact.


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Stock futures fall as crude oil slides again

(Reuters) - U.S. stock index futures were lower on Wednesday as oil prices fell after top producer Saudi Arabia ruled out production cuts.











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Goldman banker who advised on U.S. bond sale to Malaysia leaves

SINGAPORE (Reuters) - Goldman Sachs' senior investment banker and chairman of its Southeast Asia business Tim Leissner has left the bank, a spokesman said.











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Lowe's quarterly sales rise better-than-expected 5.6 percent

(Reuters) - Lowe's Cos Inc , the world's No.2 home improvement chain by market share, reported a better-than-expected rise in sales, as unseasonably warm weather in the holiday quarter and a steady improvement in the U.S. housing market encouraged customers to continue outdoor activities and home renovations.











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Honda aims for green cars to make up two-thirds of line-up by 2030

TOKYO (Reuters) - Honda Motor Co Ltd on Wednesday said it aimed for new-energy vehicles to account for two-thirds of its line-up by 2030 from around 5 percent now, as increasingly stringent global emissions regulations prompt automakers to make greener cars.


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Grand bargain to rescue global economy seen unlikely at G20 meet

SHANGHAI (Reuters) - Investors hoping for a grand plan from the world's top financial officials to stabilize shaky markets are set for disappointment, insiders say, when finance ministers and central bankers gather this week in Shanghai to discuss the troubled global economy.











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BHP's boss faces $11 billion dilemma as prices languish

SYDNEY/LONDON (Reuters) - The world's largest miner BHP Billiton is sitting on an $11 billion cash pile and what CEO Andrew Mackenzie does with the money will be a critical test of his ability to invest during the industry's worst downturn in decades.


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Global political risks push investors to bulk up cash defenses

HONG KONG/SINGAPORE (Reuters) - With the threat of a UK exit from the European Union no longer just a distant prospect, already battered investors are shoring up defensive positions against a host of intensifying geopolitical risks, including a "Brexit".











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Airbus Group lifts A330 output goal as profits meet expectations

LONDON (Reuters) - Airbus Group reversed part of its plans to cut production of a key aircraft model due to a rebound in demand, a move likely to generate extra cash as it posted 2015 profits in line with expectations on Wednesday.


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Exclusive: New York asks SEC to force climate vote onto Exxon proxy

HOUSTON (Reuters) - New York state's comptroller and four other Exxon Mobil shareholders asked the U.S. Securities and Exchange Commission this week to force the oil producer to include a climate change resolution in its annual shareholder proxy, according to a filing seen by Reuters.











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Asian shares, oil retreat as Saudi Arabia plays down output cuts

TOKYO (Reuters) - Asian shares were on the back foot on Wednesday as a nascent recovery in the oil market lost momentum after Saudi Oil Minister Ali Al-Naimi effectively ruled out production cuts by major producers anytime soon.


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Exclusive: U.S. airfares to Puerto Rico slide; debt crisis, Zika weigh

NEW YORK/SAN JUAN (Reuters) - U.S. airlines have slashed leisure fares to Puerto Rico in recent months to lure travelers to the debt-strapped island, hit by economic turmoil and lately the arrival of the mosquito-borne Zika virus.


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U.S. lawmakers, regulators escalate pressure on Takata

WASHINGTON/DETROIT (Reuters) - U.S. lawmakers on Tuesday stepped up pressure on federal regulators and Takata Corp to accelerate the recall of millions of airbag inflators, citing evidence that the Japanese company manipulated data to cover up problems with its products.











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Honeywell does not see regulatory hurdles for United Tech deal

(Reuters) - Aerospace component supplier Honeywell International Inc confirmed on Tuesday that it had engaged in deal talks with United Technologies Corp over the past year, and said it did not see regulatory process as a "material obstacle" to the deal.











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Prosecutors help organize victims' brigade in Apple battle

(Reuters) - Prosecutors took unusual steps in enlisting victims of the San Bernardino attack in the government's heated battle with Apple Inc over access to an iPhone belonging to one of the shooters, according to people involved in the effort and legal experts.


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Oil drops 4 percent after Saudi oil minister rules out production cuts

NEW YORK (Reuters) - Oil prices fell 4 percent on Tuesday after Saudi Oil Minister Ali Al-Naimi ruled out any production cuts, restating the kingdom's rationale for maintaining output was that demand would absorb excess crude that has crushed prices over the past 20 months.


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JPMorgan gets ready for more energy losses, postpones profit goal

NEW YORK (Reuters) - JP Morgan will increase provisions for expected losses on energy loans by $500 million, or more than 60 percent of its existing reserves, as a sharp drop in the price of oil looks set to further ravage the sector.











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Viacom weighs selling minority stake in Paramount film unit

(Reuters) - Viacom Inc is considering selling a "significant" minority stake in its Paramount Pictures movie studio, Chief Executive Philippe Dauman said on Tuesday, sparking a brief rally in the media company's shares.











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Audi tops U.S. Consumer Reports vehicle ratings as Tesla falls

WASHINGTON (Reuters) - German luxury automaker Audi on Tuesday topped the annual ranking of new vehicles by influential U.S. magazine Consumer Reports, which dropped the best overall vehicle award that Tesla Motors Inc's Model S luxury car won in prior years.


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Exclusive: Honda CEO to shift gears, distance sales teams from car design process - sources

TOKYO (Reuters) - Nearly a year into his job, Honda Motor Co CEO Takahiro Hachigo plans a back-to-the-future shift at the Japanese automaker, driving clearer demarcation lines between those who develop cars and those who sell them, two senior company insiders told Reuters.











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J&J must pay $72 million for cancer death linked to talcum powder: lawyers

(Reuters) - Johnson & Johnson was ordered by a Missouri state jury to pay $72 million of damages to the family of a woman whose death from ovarian cancer was linked to her use of the company's talc-based Baby Powder and Shower to Shower for several decades.


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Mars recalling products in 55 countries: AP

LONDON (Reuters) - U.S. chocolate company Mars Inc is recalling candy bars and other items in 55 countries after plastic was found in one of its products, the Associated Press reported on Tuesday.


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Housing recovery, unseasonable weather drive Home Depot results

(Reuters) - Home Depot Inc , the No. 1 U.S. home improvement chain, reported better-than-expected quarterly sales, boosted by an improving housing market and unseasonably warm weather in the holiday quarter.


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Time Inc considering buying Yahoo's core business: Bloomberg

(Reuters) - Time Inc , the publisher of Sports Illustrated, People and Time magazine, is considering a deal to buy the core business of Yahoo, citing people familiar with the matter.


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Western Digital says China's Unisplendour drops investment plan

(Reuters) - Western Digital Corp said a unit of China's Unisplendour Corp Ltd terminated a deal to take a 15 percent stake in the company after a decision by the Committee on Foreign Investment in the United States (CFIUS) to conduct an investigation.


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Bank of Montreal profit rises on U.S. retail banking growth

TORONTO (Reuters) - Bank of Montreal posted a higher quarterly profit on Tuesday, lifted by growth in its U.S. personal and commercial banking business.











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Toll Brothers quarterly revenue rises 8.8 percent

(Reuters) - Toll Brothers Inc , the largest U.S. luxury homebuilder, reported an 8.8 percent rise in quarterly revenue as it sold homes at higher prices.


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French banks swim against retreating European tide

PARIS (Reuters) - French banks, unlike their European rivals, are vowing to hang on to a broad array of businesses and even grow market share, a strategy backed by long-term investors but penalized by the market.


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CVS says 2015 drug spending grew 5 percent, far less than in 2014

NEW YORK (Reuters) - CVS Health Corp said on Tuesday its pharmacy benefit customers spent about 5 percent more on prescription drugs in 2015 than in 2014, a year when drug spending jumped nearly 12 percent.


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Chinese investors welcome new regulator, await new regulations

SHANGHAI/BEIJING (Reuters) - China's new securities regulator Liu Shiyu, a former central banker, has a tough job on his hands - not least managing a huge weight of expectation from millions of small investors smarting from a recent stock market collapse.











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Valeant to restate results after Philidor review

(Reuters) - Valeant Pharmaceuticals International Inc said it would restate its financial results for 2014 and 2015 after identifying some sales to Philidor that should have been recognized when products were dispensed to patients.











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Google is shuttering Google Compare: Wall Street Journal

(Reuters) - Google is shuttering Google Compare, its U.S. comparison-shopping site for auto insurance, credit cards and mortgages after one year, the Wall Street Journal reported on Monday, citing people familiar with the matter.


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Fitbit's weak profit forecast clouds healthy holiday beat

(Reuters) - Fitbit Inc's current-quarter profit forecast missed Wall Street estimates by a wide margin, as the wearable fitness device maker aggressively invests in new products, sending its shares down more than 16 percent in after-hours trading.











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Asian shares gain on commodity recovery hopes

TOKYO (Reuters) - Asian shares rose to a seven-week high on Tuesday as investors took heart from signs of life in battered energy and commodity markets while European currencies are hampered by worries Britain could exit the European Union.


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Honeywell, United Tech held merger talks: sources

(Reuters) - Aerospace component suppliers Honeywell International Inc and United Technologies Corp have held merger talks, but the latter is convinced that a deal would not pass antitrust muster, according to people familiar with the matter.


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Exclusive: Embattled Mexican builder ICA CEO Quintana leaving post - sources

MEXICO CITY (Reuters) - Alonso Quintana Kawage, CEO of Mexico's cash-strapped construction company ICA , is leaving his post, sources familiar with the matter said, as the company struggles to renegotiate its multi-billion dollar debt load.


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Western Digital investor Alken pushes to cancel SanDisk deal

(Reuters) - Alken Asset Management, one of the biggest shareholders of hard-disk drive maker Western Digital Corp, has asked the company to consider cancelling its deal to buy SanDisk Corp, citing a high purchase price.


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Allergan's revenue beats on higher U.S. brand sales

(Reuters) - Allergan Plc reported better-than-expected quarterly revenue, helped by strong performance in its U.S. brands segment, and said it continues to expect its takeover by Pfizer Inc to close in the second half 2016.











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Starbucks tightens rewards program rules

LOS ANGELES (Reuters) - Starbucks Corp on Monday announced changes to its loyalty program that will mean some customers will have to spend more money at the coffee chain to earn free food and drinks.


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Vodafone CEO talks up benefits of going Dutch with Liberty

BARCELONA (Reuters) - The chief executive of Vodafone underlined the benefits of the company's plan to work with Liberty Global in the Netherlands, an arrangement being closely watched by analysts and investors who hope the two firms will one day reach a wider deal.











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Stocks futures sharply higher as oil extends gains

(Reuters) - U.S. stock index futures were sharply higher on Monday, in lock-step with oil prices, as investors look for signs of stability after a turbulent start to the year.


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Apple urges government to form commission on encryption issues

(Reuters) - Apple Inc , fighting a demand by the U.S. government that it unlock an iPhone used by one of the San Bernardino shooters, has called for the creation of a government commission or panel of experts to discuss the implications of the demand on issues such as national security and personal freedoms.











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Ericsson, Nokia offer contrasting timelines for 5G network upgrades

BARCELONA (Reuters) - Ericsson , the world's top supplier of wireless equipment, said on Monday it expects 150 million users to be on next-generation 5G networks five years from now, steering clear of an industry debate over whether network upgrades could start far earlier.











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Schengen collapse could cost EU up to 1.4 trillion euros over decade

BERLIN (Reuters) - A collapse of Europe's Schengen passport-free travel zone could cost the European Union up to 1.4 trillion euros over the next decade, a study by Germany's Bertelsmann Foundation showed on Monday.


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Exclusive: Up to 90 million more Takata airbag inflators may face U.S. recalls

DETROIT/WASHINGTON (Reuters) - U.S. auto safety regulators are examining whether an additional 70 million to 90 million Takata Corp airbag inflators should be recalled because they may endanger drivers, according to a person with knowledge of the matter.


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As U.S. shale sinks, pipeline fight sends woes downstream

WILMINGTON, Del. (Reuters) - Within weeks, two low-profile legal disputes may determine whether an unprecedented wave of bankruptcies expected to hit U.S. oil and gas producers this year will imperil the $500 billion pipeline sector as well.











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Samsung, LG unveil new devices in bid for smartphone recovery

BARCELONA (Reuters) - Smartphone rivals Samsung Electronics Co Ltd and LG Electronics Inc unveiled their latest flagship devices on Sunday, seeking to revive sales momentum and buck slowing industry growth.


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Oil prices stabilize on lower U.S. rig count, but global glut still weighs

SINGAPORE (Reuters) - Oil prices partly recovered on Monday following steep losses in the previous session, supported by a fall in the number of U.S. production rigs in use, but analysts said general oversupply was keeping the market weak.











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AT&T to invest $10 billion to bolster global enterprise services

NEW YORK (Reuters) - AT&T Inc will invest about $10 billion in its global business solutions division, as it seeks to boost the unit that offers services such as wireless connectivity, cloud storage and security to companies, the wireless provider said on Sunday.


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Investment banks' trading revenue declined 9 percent in 2015: survey

LONDON (Reuters) - Revenue at the world's 12 largest investment banks from trading fixed income, currencies and commodities, known as FICC, fell 9 percent in 2015 compared with a year before, a survey showed on Monday, dragged down by regulatory changes and retrenchment.











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Asia shares brace for industry data, pound slips

SYDNEY (Reuters) - Asian share markets got off to a cautious start on Monday as investors await a rush of February industry surveys to take the pulse of the global economy, while sterling suffered on concerns the UK might yet vote to leave the European Union.


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GM could cancel $1.6 billion investment in Brazil

SAO PAULO (Reuters) - General Motors Co will reconsider plans for new investment in Brazil if the economic and political situation does not improve, the company's president Dan Ammann said in an interview published on Sunday.











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EPA asks Volkswagen to make electric cars in U.S.: Welt am Sonntag

FRANKFURT (Reuters) - U.S. authorities have asked the German carmaker Volkswagen to produce electric vehicles in the United States as a way of making up for its rigging of emission tests, the German newspaper Welt am Sonntag reported.


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Takata air bag recall could cost VW up to $445 million: Welt am Sonntag

FRANKFURT (Reuters) - Volkswagen AG may have to set aside up to 400 million euros ($445 million) in provisions to cover a recall of vehicles in the United States equipped with Takata air bags, German weekly Welt am Sonntag reported, citing an insider.











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Nestle Asia works to restore India revenue after noodle ban: paper

ZURICH (Reuters) - The head of Nestle's Asian business is hoping to restore revenue in India within three years to levels preceding the recall of its Maggi instant noodles from the market last year over a health scare, newspaper Schweiz am Sonntag reported.


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New market storm could catch euro zone unprepared

PARIS (Reuters) - Distracted by an unresolved migration crisis and negotiations on keeping Britain in the European Union, euro zone leaders could be caught unprepared by a new storm on financial markets.











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Volvo Cars recalls 59,000 cars over software fault

STOCKHOLM (Reuters) - Geely-owned carmaker Volvo Car Group said on Saturday it was recalling 59,000 cars after some owners experienced their engines stopping and restarting while they were driving.


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Saudi oil minister to face rival U.S. producers as price rout bites

HOUSTON (Reuters) - This week, Saudi Oil Minister Ali Al-Naimi will for the first time face the victims of his decision to keep oil pumps flowing despite a global glut: U.S. shale oil producers struggling to survive the worst price crash in years.











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Japan's Sharp to vote on rival takeover bids on Thursday: sources

TOKYO (Reuters) - Sharp Corp plans to choose between rival rescue offers as soon as Thursday, as a favored bid from Taiwan's Foxconn continues to be challenged by a Japanese state-backed investment fund, people with direct knowledge of the matter said.


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U.S. overtakes France to become Germany's top trading partner

BERLIN (Reuters) - The United States became the top destination for German exports last year, overtaking France for the first time since 1961 thanks to an upturn in the U.S. economy and a weaker euro, data from Germany's Statistics Office showed on Saturday.


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Japan fund makes late move to thwart Hon Hai in Sharp battle: sources

TOKYO (Reuters) - A Japanese state fund is making a final effort to secure a takeover of Sharp Corp as the ailing electronics maker considers a higher $5.8 billion offer from Taiwan's Foxconn , criticizing the composition of the company's board, sources said.











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S&P settles Australian lawsuit over Lehman Bros collapse

SYDNEY (Reuters) - A substantial settlement has been reached in a landmark A$200 million ($143 million) class action brought against ratings agency Standard & Poor's, according to the law firm for the local governments, churches and charities bringing the suit.


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China replaces Xiao Gang as securities regulator head

SHANGHAI (Reuters) - China has removed Xiao Gang, the head of its securities regulator, from his post, and appointed Liu Shiyu to take on the role, the official Xinhua news agency reported on Saturday.


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Focus sharpens on Fed after hot inflation data

NEW YORK (Reuters) - With next week's calendar full of economic data releases and speeches by economic policymakers, investors have been poised to watch the Federal Reserve for clues about the U.S. central bank's next move, but an unexpectedly hot reading on inflation on Friday will further sharpen that focus.


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Canada likely to aid struggling Bombardier: government sources

OTTAWA (Reuters) - Canada will likely offer up to $1 billion in aid to ailing plane maker Bombardier Inc , according to senior government sources, though some in the ruling Liberal Party want to see the company make tough concessions around control.


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Firming U.S. inflation keeps Fed rate hike on the table

WASHINGTON (Reuters) - Rising rents and healthcare costs lifted underlying U.S. consumer price inflation in January by the most in nearly 4-1/2 years, providing support for the view that the Federal Reserve could gradually raise interest rates this year as forecast.


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Dudley gets another five years atop New York Fed

NEW YORK (Reuters) - William Dudley has been reappointed as president of the Federal Reserve Bank of New York, as expected, giving him another five years as one of the U.S. central bank's most influential policymakers.


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U.S. files motion to compel Apple to comply with phone order: ABC News

WASHINGTON (Reuters) - The U.S. Department of Justice has filed motion seeking to compel Apple Inc to comply with a judge's order for the company to unlock the iPhone belonging to one of the San Bernardino shooters, ABC News reported on Friday.











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Faster U.S. CPI inflation still not moving key dial for Fed

WASHINGTON (Reuters) - A rise in the barometer of consumer prices most familiar to Americans has failed to show up in an inflation measure closely watched by the Federal Reserve, making it unlikely the central bank will raise interest rates next month.


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S&P 500, Dow slip on oil; data stokes rate hike talk

(Reuters) - The Dow and S&P 500 slipped on Friday as a renewed slide in oil prices weighed on energy and materials stocks and prospects of a rate hike this year were rekindled by data pointing to firmer inflation trends.











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The 'great engine game' behind new Boeing jet project

SINGAPORE (Reuters) - Aircraft engine makers are placing bets that could reshape their industry for decades as Boeing weighs a novel design for an airplane with 240-250 seats - a neglected area of the jet market.


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NYSE drops proposal to flag 'aberrant' trading in ETFs: regulators

NEW YORK (Reuters) - The New York Stock Exchange has withdrawn a proposal that would have allowed it to flag "aberrant" pricing of exchange-traded funds, according to a filing this week.











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China's top securities regulator stepping down: WSJ

(Reuters) - The chairman of the China Securities Regulatory Commission (CSRC), Xiao Gang, is stepping down, the Wall Street Journal reported, citing Chinese officials with direct knowledge of the matter.


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Seeking evidence of the slowdown

FRANKFURT (Reuters) - Worries about a global slowdown will keep investors focused on early indicators of stress next week, looking for signs that resilient domestic demand in Europe and the U.S. can sustain growth in spite of emerging markets struggles.


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Citigroup to exit retail banking in Brazil, Argentina

(Reuters) - Citigroup Inc said it plans to exit its retail banking and credit card operations in Brazil, Argentina and Colombia as part of its efforts to cut costs and boost profitability.











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Yahoo forms independent panel to explore strategic options

(Reuters) - Yahoo Inc said its board has formed a committee of independent directors to explore strategic alternatives, alongside its plan to revamp and spin off its Internet business.











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Google accounts show 11 billion euros moved via low tax 'Dutch sandwich' in 2014

AMSTERDAM/LONDON (Reuters) - Google moved 10.7 billion euros ($12 billion) through the Netherlands to Bermuda in 2014, as part of a structure which allows it to earn most of its foreign income tax free.


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Amazon to open parcel locker network across Europe

BERLIN, Feb 19 (Reuters) - Amazon.com Inc AMZN.O wants to set up a network of parcel lockers across Europe to enable people to pick up their own orders as it seeks to widen delivery options and cut costs.


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Market volatility stalling IPOs - Nasdaq president

PARIS (Reuters) - Sharp stock market swings in recent weeks are for now giving companies cold feet about going public with initial public offerings (IPOs), Nasdaq President and Chief Operating Officer Adena Friedman said on Friday.











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VW managers see no agreement with EPA before end-March: Manager Magazin

FRANKFURT (Reuters) - Top managers at Volkswagen do not expect an agreement before the end of March with U.S. authorities over the German carmaker's rigging of emissions tests, German monthly Manager Magazin reported on Friday, citing company sources.


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Mazda recalls more vehicles in Japan, overseas over Takata airbags

TOKYO (Reuters) - Mazda Motor Corp on Friday said it had recalled a total of around 1.9 million vehicles in Japan and abroad over airbags manufactured by Takata Corp , expanding a global recall of potentially faulty airbag inflators.











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Daimler sees U.S. suit over Mercedes emissions as unfounded

HAMBURG (Reuters) - Daimler said on Friday it saw as unfounded a U.S. class action suit brought against its Mercedes unit on claims of excessive nitrogen oxide (NOx) emissions levels.


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South Korean prosecutors raid Volkswagen office in emissions probe

SEOUL (Reuters) - South Korean prosecutors on Friday searched the local office of Volkswagen AG and sister firm Audi AG as part of a probe into an emissions case, a spokesman for the German carmakers' local unit said, confirming media reports.


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Media mogul Redstone victim of 'undue influence,' ex-girlfriend says

LOS ANGELES (Reuters) - Media mogul Sumner Redstone was under "undue influence" from people around him when he replaced his designated healthcare agent in October 2015, his ex-girlfriend argued in a court filing on Thursday.











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California high-speed rail's first leg to connect Central and Silicon valleys

SAN FRANCISCO (Reuters) - California's ambitious plan for high-speed rail service will become reality within a decade with service between the state's agricultural Central Valley and high-tech Silicon Valley, state officials announced on Thursday.











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Asian shares slip from three-week high as oil rally pauses

TOKYO (Reuters) - Asian shares slipped from near three-week highs hit earlier this month on Friday, as a rally in oil prices paused and investors remained cautious about the outlook of the global economy.


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U.S. oil falls after crude stocks hit record high

SINGAPORE (Reuters) - U.S. oil futures fell in early Asian trade on Friday as record crude stocks renewed concerns about global oversupply, outweighing moves by oil producers including Saudi Arabia and Russia to cap oil output.


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Japan Aso: G20 to discuss China, oil, U.S. monetary policy

TOKYO (Reuters) - Japanese Finance Minister Taro Aso said on Friday that finance chiefs from the Group of 20 major economies will discuss China's excess capacity, tumbling oil prices, and U.S. monetary policy when they meet in Shanghai next week.











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Citi raises CEO Corbat's pay by 27 percent in 2015

(Reuters) - Citigroup Inc raised Chief Executive Michael Corbat's pay by an estimated 27 percent in 2015, a year in which the bank's profit more than doubled.


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Fed's next move much more likely a rate hike than a cut - survey

(Reuters) - The Federal Reserve's next policy move is much more likely to be a rate hike than a rate cut, although over the next two years a return to zero rates is a rising possibility, according to a New York Fed survey of primary dealers published on Thursday.











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P&G needs to be more agile, says new CEO Taylor

(Reuters) - Procter & Gamble Co needs to be more nimble in its decision-making, Chief Executive David Taylor said in his first interaction with analysts after taking the helm in November.


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Exclusive: EU set to clear Dell's $67 billion deal to buy EMC - sources

BRUSSELS (Reuters) - Dell Inc [DI.UL], the world's third-biggest maker of computers, is set to gain unconditional EU antitrust approval for its $67 billion bid for data storage company EMC Corp, two people familiar with the matter said on Thursday.


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Credit Suisse to fast-track top junior bankers to retain talent: sources

LONDON (Reuters) - Credit Suisse will establish a fast-track program for top-performing investment banking juniors, sources familiar with the situation told Reuters, as major banks step up efforts to attract and retain their lower ranks.


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Banks build ETF businesses as growth stalls in bond trading

(Reuters) - Wall Street banks are ramping up businesses that trade exchange-traded funds full of bonds, a bright spot of growth at an otherwise bleak time for trading but one that may carry unappreciated risk.


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Insight: Parmesan bonds replace bank loans in Italy's new credit order

ROME/MILAN (Reuters) - When Parmesan prices proved too volatile for Italy's strained banks a dairy cooperative near Bologna came up with a novel solution to its funding needs, bonds backed by wheels of cheese.











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IBM to acquire Truven Health Analytics for $2.6 billion

(Reuters) - International Business Machines Corp said on Thursday it plans to acquire Truven Health Analytics, a provider of healthcare data and analytics, for $2.6 billion, marking its fourth major health data-related deal in the past year.


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Wall Street rally set to continue as oil prices rise

(Reuters) - U.S. stock indexes were set to open higher on Thursday, and extend a three-day rally, as oil prices continued to rise.











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U.S. jobless claims fall; manufacturing appears to stabilize

WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits unexpectedly fell last week, pointing to labor market strength that could keep Federal Reserve interest rate hikes on the table this year.


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Wal-Mart quarterly earnings fall; stock slides

(Reuters) - Wal-Mart Stores Inc on Thursday reported a decline in quarterly earnings and a smaller-than-expected increase in sales at existing stores, sending its shares down more than 4 percent.


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Daimler CEO's pay jumped 16 pct to $10.8 mln last year

FRANKFURT (Reuters) - Daimler Chief Executive Dieter Zetsche's total pay leapt 16 percent to 9.68 million euros ($10.75 million) last year, when the German car and truck maker posted a 36 percent rise in operating profit.











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Zafgen's obesity drug succeeds in mid-stage trial

(Reuters) - Drug developer Zafgen Inc said on Thursday that its drug to treat obesity in diabetic patients met the main goal of reducing body weight.


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Oil extends rally towards $35 after Iran welcomes output freeze

LONDON (Reuters) - Oil rose towards $35 a barrel on Thursday after Iran welcomed plans by Russia and Saudi Arabia to freeze output and an industry report showed a surprise drop in U.S. inventories.











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HSBC executives rue missed chance in HQ choice

LONDON (Reuters) - British Finance Minister George Osborne's relief at HSBC's choice of London over Hong Kong as its headquarters is not shared by several top executives who rue a missed opportunity for its China-centered growth strategy.


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Uber says it losing $1 billion a year to compete in China

SHANGHAI (Reuters) - The chief executive of Uber Technologies Inc said the company is burning through more than a billion dollars a year in China, where it is locked in a fierce battle with larger local rival Didi Kuaidi to lure consumers with cut-price deals.











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FCC to vote on proposal to boost TV set-top box competition

WASHINGTON (Reuters) - The Federal Communications Commission on Thursday will vote on a proposal to let consumers swap pricey cable boxes for cheaper devices and apps, to boost competition in the $20 billion television set-top box market.











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Boeing engineers overwhelmingly back new labor contracts

(Reuters) - Boeing Co's engineers' union ratified six-year labor contracts by a wide margin on Wednesday, a vote that ensures stability during a period when the planemaker is bringing out new versions of its two most profitable jetliners, the 737 and the 777.


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Mitsubishi Motors recalls around 370,000 vehicles in Japan

TOKYO (Reuters) - Mitsubishi Motors Corp on Thursday said it had recalled around 370,000 vehicles in Japan including its Delica multipurpose vehicles due to improperly installed right-turn indicator switches.


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Asia shares gain as crude oil bounce boosts risk assets

TOKYO (Reuters) - Asian stocks rose across the board on Thursday as crude oil extended gains on hopes that big producers will cap production, improving investor sentiment for riskier assets.











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Starboard takes steps toward proxy fight with Yahoo: Bloomberg

(Reuters) - Starboard Value LP is taking initial steps toward a potential proxy fight with Yahoo Inc, indicating that the activist investor is not satisfied with Yahoo's efforts to streamline its business, Bloomberg reported citing people familiar with the matter.


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Politics nothing to do with curbing big banks: Fed's Kashkari

NEW YORK (Reuters) - The newest Federal Reserve policymaker dismissed concerns that his call for radical action to rein in "too big to fail" banks was a partisan move, and instead said on Wednesday it highlighted the U.S. central bank's independence from politics.











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Yahoo to cut more than 300 jobs: San Francisco Chronicle

(Reuters) - Yahoo Inc on Wednesday said it would cut more than 300 jobs by April 18, as part of 1,500 layoffs announced earlier, San Francisco Chronicle reported.


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St. Louis Fed's Bullard says 'unwise' to continue rate hikes for now

ST. LOUIS (Reuters) - It would be "unwise" for the U.S. Federal Reserve to continue hiking interest rates given declining inflation expectations and recent equity market volatility, St. Louis Fed President James Bullard said on Wednesday in comments that mark a stark change of direction for one of the Fed's more hawkish inflation foes.


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Lockheed says withdraws protest of Oshkosh U.S. truck contract

WASHINGTON (Reuters) - Lockheed Martin Corp on Wednesday said it had withdrawn its protest in federal court of a $6.75 billion contract awarded by the U.S. Army to Oshkosh Corp for 17,000 new armored vehicles to replace the Humvee.











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IEX to critics of its U.S. exchange bid: 'We stand by our words'

NEW YORK (Reuters) - IEX Group struck back on Wednesday at critics of its bid to become a U.S. stock exchange, including the New York Stock Exchange and BATS Global Markets, which have accused their potential rival of skewing facts to help win approval.











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Apple Pay takes on China's internet kings in mobile payments

BEIJING (Reuters) - Apple Inc launched its mobile payment system in China on Thursday in a bid to convince the hundreds of millions of users of the country's entrenched, dominant services to switch.


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Wal-Mart aims to improve scheduling for U.S. workers

(Reuters) - Wal-Mart Stores said on Wednesday it would start offering fixed shifts and unveiled other details of planned scheduling changes aimed at retaining and motivating its rank-and-file workers.


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Judge blocks Madoff victims' $11 billion lawsuit vs Picower estate

NEW YORK (Reuters) - Victims of Bernard Madoff's fraud cannot pursue a Florida lawsuit to recover $11 billion from the estate of Jeffry Picower, who they say helped perpetuate the swindler's Ponzi scheme, a Manhattan bankruptcy judge ruled on Wednesday.


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Fed policymakers discussed changing interest rate path: minutes

WASHINGTON - Federal Reserve policymakers worried last month that tighter global financial conditions


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Strong U.S. industrial output bolsters growth picture

WASHINGTON (Reuters) - U.S. industrial production in January rose by the most in 14 months as manufacturing and utilities output increased, the latest sign the economy regained some ground early in the year.











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Iran offers no action in support of global oil pact

ANKARA/DUBAI (Reuters) - Iran on Wednesday stopped short of offering to restrain oil output as part of a global pact to freeze production to prop up prices, because it wants to recapture the market share it lost during years of sanctions.











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Boeing CEO sees no downturn in commercial airplane cycle

(Reuters) - Boeing Co's top executive reaffirmed on Wednesday the company's outlook for strong growth and cash flow over the next five years, dismissing concerns the aviation business cycle is on the cusp of a downturn and predicting profitability will rise.


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Wall Street set for higher open as oil prices steady

(Reuters) - U.S. stock indexes were set to open higher on Wednesday, setting the stage for a third straight day of gains as oil prices rose and investors snatched up beaten-down shares.











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T-Mobile profit nearly triples as it adds more customers

(Reuters) - T-Mobile US Inc's profit nearly tripled in the holiday quarter as aggressive price cutting and offers helped it draw customers away from competitors.











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Iran says will resist curbs on oil output as part of global pact

ANKARA/DUBAI (Reuters) - Iran said on Wednesday it would resist any plan to restrain its oil output as fellow OPEC ministers flew to Tehran to try to persuade the country to join the first global oil pact in 15 years.


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Bombardier to cut about 7,000 jobs over next 2 years

(Reuters) - Canadian plane and train maker Bombardier Inc said it will reduce its workforce by about 7,000 employees over the next two years, while ramping up hiring to support production of its CSeries commercial jets.


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With recession lights amber, brittle markets vulnerable to all shocks

LONDON (Reuters) - Financial markets that predicted eight of the last six recessions may be yet be wrong again, but market stress itself is now part of the calculus and leaves the world more open to left-field shocks.


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Iran signals tough stance in oil producers' talks

ANKARA/DUBAI (Reuters) - Iran signaled on Wednesday that it would take a tough line in talks among oil producers on restraining production, saying it would continue increasing its output until it reached levels seen before international sanctions were imposed.


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China's Okay Airways in commitment for Boeing 737 jets worth $1.3 billion

SINGAPORE (Reuters) - China's Okay Airways has signed a commitment for 12 Boeing 737 jets worth $1.3 billion at list prices, as the privately owned carrier looks to expand its fleet to tap the mainland's growing air travel market.


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Insight - Lost in translation: Wal-Mart stumbles hard in Brazil

CAMPO GRANDE, Brazil/BENTONVILLE, Arkansas (Reuters) - When Wal-Mart Stores Inc. first expanded into Brazil's midwestern farm-belt city of Campo Grande seven years ago, the economy was booming and executives were eager to open stores even in sub-prime locations on one-way streets heading out of town.











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United Airlines mechanics reject contract offer, union seeks strike approval

(Reuters) - Maintenance workers at United Airlines overwhelmingly rejected a new contract offer, their union said Tuesday, adding it would seek approval from U.S. regulators to strike.


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Asia shares take breather as mood calms a little

SYDNEY (Reuters) - Asian shares were taking a breather on Wednesday, looking to consolidate two sessions of solid gains as risk appetites finally showed some resilience to the latest selloff in oil prices.


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Slumbering Pakistani steel giant shows why state sell-offs are stalled

KARACHI (Reuters) - Once the producer of almost half the country's steel needs, state-owned Pakistan Steel Mills' (PSM) cavernous factory buildings on the outskirts of Karachi stand eerily still.


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Argentina reaches settlement in U.S. debt class action: mediator

NEW YORK (Reuters) - Argentina has reached a deal with lawyers pursuing a U.S. class action lawsuit over defaulted debt to resolve the case, as part of the country's efforts to settle long-running litigation over its 2002 default, a court-appointed mediator said Tuesday.


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Hedge funds place bets on Morgan Stanley; some exit Valeant

NEW YORK/BOSTON (Reuters) - Top U.S. hedge fund management firms, including Dan Loeb's Third Point LLC, took new positions in Morgan Stanley during the fourth quarter, ahead of the bank's cost-cutting measures and bond-management reshuffling.











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U.S. GAO rejects Boeing protest of Northrop's bomber contract

WASHINGTON (Reuters) - The U.S. Government Accountability Office on Tuesday rejected a protest filed by Boeing Co and Lockheed Martin Corp against a multibillion-dollar bomber contract awarded to Northrop Grumman Corp by the U.S. Air Force in October.


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Buffett to webcast Berkshire annual meeting on Yahoo

(Reuters) - Warren Buffett's Berkshire Hathaway Inc plans to webcast its annual meeting for the first time, enabling the largest U.S. shareholder gathering to reach a global audience through Yahoo Inc's finance page.











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Fed's newest member suggests breaking up Wall Street banks

WASHINGTON (Reuters) - The U.S. Federal Reserve's newest policymaker on Tuesday called on lawmakers to consider "bold, transformational" rules including the breaking up of the nation's largest banks to ensure taxpayers are no longer on the hook should they fail.


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Wall Street open higher as oil prices stabilize

(Reuters) - U.S. stocks opened higher on Tuesday as cautious investors looked for bargains among beaten-down stocks and as oil prices stabilized.


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Osram's CEO clashes with Siemens over LED strategy

MUNICH, Germany (Reuters) - The chief executive of German lighting group Osram ran up against the company's biggest shareholder Siemens on Tuesday over his controversial strategy of expanding in the general LED lighting market.


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Fed to hike twice in 2016, undeterred by external risks: Reuters poll

BENGALURU (Reuters) - Growing concerns about weak global growth and inflation are unlikely to deter the U.S. Federal Reserve from tightening policy, according to a Reuters poll that suggested two interest rate hikes are likely this year.


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Apollo Global to buy security services company ADT for $7 billion

(Reuters) - Electronic security services provider ADT Corp said it had agreed to be acquired by funds affiliated with private equity firm Apollo Global Management LLC for $7 billion.











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Daimler Trucks to cut 1,250 jobs in North America

FRANKFURT (Reuters) - Daimler Trucks said on Tuesday it would cut 1,250 jobs in North America in response to sliding demand.











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Vodafone ties up with Liberty in Dutch deal to take on KPN

AMSTERDAM/LONDON (Reuters) - Mobile telecoms network operator Vodafone and cable company Liberty Global have agreed to combine their Dutch operations to create a stronger package of TV, broadband Internet and mobile, aiming to better take on former incumbent KPN .


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Saudis, Russia agree oil output freeze, talks with Iran to follow

DOHA (Reuters) - Top global oil exporters including Russia and Saudi Arabia agreed on Tuesday to freeze output to tackle a global glut but said the deal was contingent on other producers, with Iran absent from the meeting and planning to ramp up shipments.


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Global investment banks' earnings may decline in 2016: JP Morgan

(Reuters) - Global investment banks' earnings may decline this year, given a challenging credit trading environment and low level of deal flow, said JP Morgan Securities analysts, who cut their 2016 earnings estimate for investment banks by an average 20 percent.











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Pratt & Whitney head says jet engine output risks easing

SINGAPORE (Reuters) - Pratt & Whitney's new chief says the performance of suppliers is much better than year ago, easing concerns over its ability to execute a $10 billion gamble on a new engine as it seeks to reclaim a once revered status in the jet industry.


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GE explores oil and gas business in Iran with top executive visit

(Reuters) - General Electric Co is exploring potential business opportunities in Iran and the chief executive of its oil and gas division visited the country recently, a company spokeswoman said.


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Asian shares seen consolidating as investor fears ease

TOKYO (Reuters) - Asian shares are expected to consolidate gains on Tuesday as the Chinese currency and shares show signs of stability, oil prices rebound, and solid U.S. consumption data suggest last week's sell-off was overdone.











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Toshiba says it is not considering ending PC production

TOKYO (Reuters) - A Toshiba Corp said on Tuesday it was not considering withdrawing from personal-computer production and selling its Hangzhou factory in China.


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Pets are comforting, but shares of pet-focused companies may not be

(Reuters) - Come economic rain or shine, Americans spend $60 billion a year on their pets, a fact that has led investors to seek shelter in pet company shares when the stock market goes to the dogs.


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ECB chief says bank is ready to act in March if needed

BRUSSELS/FRANKFURT (Reuters) - The European Central Bank is ready to ease policy in March if the recent financial market turmoil or the long-term impact of low energy prices threatens to keep inflation persistently low, its president Mario Draghi said on Monday.


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EU regulators to examine lawmakers' report on IKEA taxes

BRUSSELS - European Union state aid regulators will examine a report by a group of EU lawmakers accusing Swedish furniture retailer IKEA [IKEA.UL] of avoiding paying at least 1 billion euros ($1.1 billion) in taxes over a six-year period.


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'Brexit' could lead to HSBC moving 1,000 jobs to Paris: Sky

HONG KONG (Reuters) - HSBC Holdings could move around 1,000 employees from London to Paris in the event that Britain votes to leave the European Union, the bank's Chief Executive Stuart Gulliver was quoted saying by Sky News on Monday.


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Russia says better Iran-Saudi Arabia ties would help oil prices: RIA

MOSCOW (Reuters) - Russia wants to see improved relations between Iran and Saudi Arabia at a time when joint action is needed to influence global oil prices, the RIA news agency on Monday quoted Zamir Kabulov, a senior official at Russia's Foreign Ministry, as saying.











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Shell pursues transition plan after sealing $53 billion BG deal

LONDON (Reuters) - Royal Dutch Shell on Monday sealed the $53 billion (36 billion pounds) acquisition of British rival BG Group to form the world's top liquefied natural gas company, even as slumping oil prices cast a shadow on the upcoming years of transition.


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Boeing sees new aircraft demand worth $550 billion in Southeast Asia over 20 years

SINGAPORE (Reuters) - Southeast Asia requires 3,750 new aircraft worth $550 billion in 20 years from 2015, a senior Boeing executive told a press conference ahead of the Singapore Airshow that starts on Tuesday.











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SoftBank to purchase up to $4.4 billion of own shares, its biggest buyback

TOKYO (Reuters) - Japanese telecoms conglomerate SoftBank Group said on Monday it will purchase up to 500 billion yen ($4.4 billion) worth or as much as 14.2 percent of its own shares, in its biggest buyback to date.


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Hong Kong's BEA rejects activist investor Elliott's demand for bank sale

HONG KONG (Reuters) - Bank of East Asia Ltd , a family-run Hong Kong lender, rejected a call by activist investor Elliott Management Corp to put the bank up for sale, saying the challenging economic and business environment would bode ill for such a process.











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Obama, Southeast Asia leaders eye China and trade at California summit

RANCHO MIRAGE, Calif. (Reuters) - President Barack Obama will press leaders from Southeast Asia to boost trade and back common goals for the South China Sea during a summit starting on Monday that the White House hopes will solidify U.S. influence in the region.


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Global slowdown fears overshadow Singapore aviation show

SINGAPORE (Reuters) - Aerospace leaders gathering for this week's Singapore Airshow face conflicting pressures as they juggle growing concerns over jetliner demand while keeping record production plans on track.











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China shares resume with losses, yuan fixed at month-high

SHANGHAI (Reuters) - Chinese shares started lower on Monday as trading resumed after the long Lunar Holiday break and investors caught up with wild swings in global markets, while Beijing took another swipe at devaluation talk with a strong fix for the local currency.


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Asia shares try to bounce, China looms large

SYDNEY (Reuters) - Asian shares bounced on Monday, though investors feared fireworks as Chinese markets reopen after the long Lunar holidays to find there had been a major reversal in the U.S. dollar and a worldwide rout in equities.


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Brent edges down, pares Friday's jump of over 10 percent

TOKYO (Reuters) - Brent and U.S. crude futures edged down on Monday, paring gains from a more than 10-percent jump at the end of last week that came amid renewed talk that OPEC might finally agree to cut production to reduce a world glut.











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BlackRock says no need to stress test mutual fund sector

LONDON (Reuters) - BlackRock, the world's biggest asset manager, says there is no need for a stress test of whether the mutual fund industry could repay a large number of panicking investors in the event of a fresh financial crisis.


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HSBC to stay in Britain, rejects move to Hong Kong

LONDON (Reuters) - HSBC has decided to keep its headquarters in Britain, the bank said on Sunday, following a review into a potential move that could have shifted the group's base to Hong Kong.











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Subsidy sham: Fertilizers reach Indonesia plantations, not small farmers

SUKOHARJO/JAKARTA, Indonesia (Reuters) - Millions of dollars worth of subsidized fertilizers meant for small Indonesian farmers are being sold to big plantations, such as palm oil and rubber, at huge profits by state-backed retailers, a government report viewed by Reuters shows.











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Volkswagen managers were notified about diesel probe in May 2014: sources

FRANKFURT (Reuters) - A high-ranking employee warned senior Volkswagen managers in May 2014 that U.S. regulators might examine car engine software as part of an investigation into pollution levels, two sources familiar with the matter said on Sunday.











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Noble Group's LNG traders leaving to join Glencore – sources

SINGAPORE/LONDON (Reuters) - Three liquefied natural gas (LNG) traders at Asia's biggest commodity trade house, Noble Group Ltd , including two co-heads of the team, are leaving to join rival trader Glencore , sources familiar with the matter told Reuters.











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OPEC members increasingly keen to end oil glut: Nigeria oil minister

ABUJA (Reuters) - The mood inside the Organization of the Petroleum Exporting Countries (OPEC) is shifting from mistrust to a growing consensus that a decision must be reached on how to end the global oil price rout, Nigeria's oil minister told Reuters.


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Southeast Asia's record jet orders seen at risk: IATA

SINGAPORE (Reuters) - Record plane orders placed by ambitious Southeast Asian airlines could be at risk in an environment of intense competition, low profitability and turmoil in financial markets, the head of the International Air Transport Association (IATA) said on Sunday.











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Germany wants to introduce random emissions tests on cars

BERLIN (Reuters) - Germany wants to carry out unannounced emissions tests on all carmakers, Transport Minister Alexander Dobrindt said on Sunday, aiming to reinstate confidence in the industry that was shattered by the Volkswagen cheating scandal.


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Iran offers mining riches post-sanctions, but investors cautious

LONDON (Reuters) - Iran's rich deposits of zinc, copper, gold and other minerals are tempting international investors after the lifting of Western sanctions, but development of the sector will take time and problems will have to be overcome.


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BAE Systems lines up oil exec Woodburn as next CEO: source

LONDON (Reuters) - British defense company BAE Systems has picked former oil industry executive Charles Woodburn as heir apparent to Chief Executive Ian King, a source close to the situation said on Sunday.











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Greek PM says differences between lenders delaying bailout review: paper

ATHENS (Reuters) - Greek Prime Minister Alexis Tsipras said on Saturday that differences between the country's international lenders over its pension reform plans are delaying the first review of its latest financial bailout.











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Dijsselbloem rejects calls for looser banking rules

AMSTERDAM (Reuters) - Eurogroup chairman Jeroen Dijsselbloem rejected calls for banking union regulations to be loosened after weeks of falling bank shares, saying new European bail-in rules had caused investors to look "more critically" at risks born by banks.


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China Lunar New Year holiday retail sales up 11.2 percent year-on-year

BEIJING (Reuters) - China's retail sales grew 11.2 percent during the week-long Lunar New Year vacation compared with the same holiday period last year, Ministry of Commerce data showed on Saturday.











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Visa's investment in Square represents about 1 percent stake

SAN FRANCISCO (Reuters) - Visa Inc , the world's largest credit and debit card company, said on Friday it currently has about a 1 percent stake in mobile payments company Square Inc based on a 2011 investment.


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Apple to launch new iPhone, iPad in March: 9to5mac

(Reuters) - Apple Inc is on target to introduce its next iPhone and iPad models on March 15, and aims to start selling the devices in the same week, technology blog 9to5Mac reported, citing sources.


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Late-day buying could be start of turnaround

NEW YORK (Reuters) - As U.S. stocks continue to struggle in 2016, equities are showing some signs selling pressure may be reaching an end.











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Loeb says Third Point raised short bets to avoid losses

BOSTON (Reuters) - Billionaire investor Daniel Loeb has told clients his firm has taken more defensive bets in the face of tumbling markets by dramatically increasing its short positions, which helped Third Point avoid "calamitous" losses last year.











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Twitter says Dorsey continues to forego direct compensation

(Reuters) - Twitter Inc Chief Executive Jack Dorsey has agreed to continue to forego any form of direct compensation, a regulatory filing by the company showed on Friday.


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Exclusive: Boeing nears decision to self-fund more F/A-18 fighters

WASHINGTON (Reuters) - Boeing Co is nearing a decision to invest "a significant amount" to keep a F/A-18E/F fighter jet production line in St. Louis running as it waits for the U.S. government to approve a delayed order by Kuwait for 28 jets, a senior executive said.











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Argentine farmers take Monsanto seed complaint to regulators

BUENOS AIRES (Reuters) - Argentina's main farm group on Friday took complaints against Monsanto Co to local regulators, accusing the company of abusing its dominant position in the market by ordering exporters to inspect soy cargos for second-generation genetically modified seeds.


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Mattel names new head of Barbie business

(Reuters) - Toy maker Mattel Inc on Friday named a new head for its Barbie business as it seeks to reignite sales of its iconic dolls after two years of declines.


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Tougher lending standards pose risk to outlook for Fed

WASHINGTON (Reuters) - A recent tightening of credit for U.S. companies is threatening to undermine economic growth, making it less likely the Federal Reserve will raise interest rates anytime soon.











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Google says will not participate in 2016 U.S. airwaves auction

NEW YORK/SAN FRANCISCO (Reuters) - Alphabet Inc's Google will not participate in the U.S. Federal Communications Commission's upcoming auction of broadcast airwaves for wireless industry use, a spokeswoman told Reuters on Friday.


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U.S., UK likely to charge multiple banks in Libor rigging: WSJ

WASHINGTON (Reuters) - American and British regulators are likely to charge several banks including Citigroup, the third-largest U.S. bank, and London-based HSBC Holdings, in an interest-rigging probe, the Wall Street Journal reported on Friday.


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Argentine debt talks to continue: mediator

NEW YORK (Reuters) - Argentina's ongoing sovereign debt settlement talks will continue despite no resolution between the government and four remaining major holdout creditors, court-appointed mediator Daniel Pollack said in a statement on Friday.











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Consumer companies' outperformance no longer guaranteed by cheap oil

LONDON (Reuters) - Consumer companies are offering investors a small degree of relief from the turmoil in banking and resources in a results season dominated by fears about slowing economic growth.


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Syngenta deal could pave way for biotech acceptance from China users

SINGAPORE (Reuters) - ChemChina's purchase of Syngenta could remove some of the suspicion around genetically modified crops and ultimately lead to more rapid user acceptance of biotechnology in food production in China, Syngenta's Chief Operating Officer Davor Pisk told Reuters.











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Energy, banks lead Wall St. rebound after grueling week

(Reuters) - Wall Street staged a modest comeback on Friday, led by a rebound in financial and energy stocks, after a punishing, widespread rout this week on concerns about the health of the global economy, and ahead of the long weekend.













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Dudley eyes risks but says Fed policy easy enough

NEW YORK (Reuters) - Federal Reserve policy is "appropriately quite accommodative" given the low level of inflation, which poses little threat to a U.S. economic expansion that will only grow older unless there is an outside shock, an influential Fed official said on Friday.




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U.S. core retail sales rebound solidly in January

WASHINGTON - U.S. consumer spending appeared to regain momentum in January as households ramped up purchases of a variety of goods, in a hopeful sign that economic growth was picking up after slowing to a crawl at the end of 2015.













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