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Exxon sues U.S. over fine levied for Russia deal under Tillerson

Reuters Business News - 6 hours 23 min ago
WASHINGTON/HOUSTON (Reuters) - Exxon Mobil Corp sued the U.S. government on Thursday, blasting as "unlawful" and "capricious" a $2 million fine levied against it for a three-year-old oil joint venture with Russia's Rosneft.
Categories: business

Exclusive: U.S. toughens stance on foreign deals in blow to China's buying spree

Reuters Business News - 6 hours 29 min ago
(Reuters) - A secretive U.S. government panel has objected to at least nine acquisitions of U.S. companies by foreign buyers so far this year, people familiar with the matter said, a historically high number that bodes poorly for China's overseas buying spree.
Categories: business

AstraZeneca CEO reassures staff, aims to be at September cancer meet

Reuters Business News - 6 hours 46 min ago
LONDON (Reuters) - AstraZeneca Chief Executive Pascal Soriot, responding to rumors he might leave the drugmaker to join rival Teva Pharmaceutical Industries, has told staff he expects to work together with employees to see the company succeed.
Categories: business

FTC probing allegations of Amazon's deceptive discounting

Reuters Business News - 6 hours 50 min ago
WASHINGTON (Reuters) - As part of its review of Amazon's agreement to buy Whole Foods, the Federal Trade Commission is looking into allegations that Amazon misleads customers about its pricing discounts, according to a source close to the probe.
Categories: business

Siemens exits Russian JV after Crimea turbines scandal

Reuters Business News - 7 hours 45 min ago
FRANKFURT (Reuters) - German industrial group Siemens will exit its Russian power-plant joint venture Interautomatika following a scandal that saw four gas turbines it sold for use in Russia turn up in Crimea, a region subject to EU sanctions on energy technology.
Categories: business

Chinese courier ZTO sued for "untrue statements" in $1.4 billion U.S. IPO

Reuters Business News - 7 hours 58 min ago
SHANGHAI (Reuters) - Chinese courier ZTO Express and the underwriters of its New York stock market listing have been sued by a U.S. pension fund that alleges the firm exaggerated its profit margins to lure investors into its $1.4 billion initial public offering.
Categories: business

Euro at two-year high, Asian shares barely budge

Reuters Business News - 8 hours 27 min ago
TOKYO (Reuters) - The euro held near two-year highs against the dollar on Friday after the head of the European Central Bank said tapering of its stimulus will be on the table this autumn, while a solid global economic outlook kept Asian share prices near decade highs.
Categories: business

Microsoft profit beats expectations on strong cloud demand

Reuters Business News - Fri, 2017-07-21 02:02
SAN FRANCISCO (Reuters) - Microsoft on Thursday reported strong fourth-quarter earnings on the back of its fast-growing cloud computing business, stoking optimism that the once-stagnant company has found a new groove.
Categories: business

U.S. attempt to limit Wall Street bonuses fizzles out quietly

Reuters Business News - Fri, 2017-07-21 00:57
WASHINGTON (Reuters) - The regulatory agenda released by the Trump administration on Thursday contained a signal that the U.S. government has halted its work on restricting Wall Street executives' bonuses and other pay incentives.
Categories: business

Tech group sides with Apple in Qualcomm's iPhone ban dispute

Reuters Business News - Fri, 2017-07-21 00:04
(Reuters) - A group representing major technology companies has aligned itself against Qualcomm Inc in its legal dispute with Apple Inc by calling on regulators to reject Qualcomm's bid to ban the import of iPhones.
Categories: business

Chipotle shares fall on Norovirus, rodent incidents

Reuters Business News - Thu, 2017-07-20 22:09
BOSTON (Reuters) - Chipotle Mexican Grill Inc shares fell to a four-year low on Thursday after testing confirmed Norovirus in a customer who ate at one of the chain's Virginia restaurants and a video of rodents crawling on the floor of a Dallas shop went viral.
Categories: business

Wall Street flat as home improvement retailers get Amazoned

Reuters Business News - Thu, 2017-07-20 21:54
NEW YORK (Reuters) - Stocks ended little changed on Wall Street on Thursday as a deal between Sears and Amazon weighed on home improvement retailers while gains in Microsoft helped buoy the Nasdaq.
Categories: business

UAW talking to GM about impact of car sales slump on U.S. jobs

Reuters Business News - Thu, 2017-07-20 21:40
(Reuters) - The president of the United Auto Workers union said on Thursday the union is talking with General Motors Co about the potential threat to plants and jobs from slumping U.S. car sales.
Categories: business

Visa beats profit estimates, raises earnings forecast

Reuters Business News - Thu, 2017-07-20 20:40
(Reuters) - Visa Inc , the world's largest payments network operator, on Thursday reported a better-than-expected quarterly profit and raised its full-year earnings forecast, as more people made payments using its network.
Categories: business

Trump unveils companies' $500 million U.S. drug packaging project

Reuters Business News - Thu, 2017-07-20 20:10
WASHINGTON (Reuters) - President Donald Trump on Thursday announced a $500 million investment that Corning Inc is making with pharmaceutical giants Merck and Pfizer to manufacture a new kind of glass for injectable drug vials.
Categories: business

Snap under pressure as Wall Street eyes share lock-up expirations

Reuters Business News - Thu, 2017-07-20 19:13
SAN FRANCISCO (Reuters) - A potential flood of newly available Snap shares is weighing on Wall Street's already shaky support for the owner of the Snapchat social media app.
Categories: business

Abbott lifts profit forecast as it integrates St. Jude deal

Reuters Business News - Thu, 2017-07-20 13:20
(Reuters) - Abbott Laboratories on Thursday raised its full-year adjusted profit forecast as the diversified healthcare company gains from its $25 billion acquisition of medical devices maker St. Jude Medical earlier this year
Categories: business

Brent oil climbs above $50 for first time since early June

Reuters Business News - Thu, 2017-07-20 13:15
LONDON (Reuters) - Brent crude oil rose above $50 per barrel for the first time since early June on Thursday, adding to gains made the previous session when falling U.S. crude and oil product inventories lifted the market.
Categories: business

U.S. weekly jobless claims fall to near five-month low

Reuters Business News - Thu, 2017-07-20 13:13
WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits fell more than expected last week, touching its lowest level in nearly five months, suggesting strong job gains that should continue to underpin economic growth.
Categories: business

Citigroup says may need to create 150 jobs in EU due to Brexit

Reuters Business News - Thu, 2017-07-20 12:56
LONDON (Reuters) - U.S. bank Citigroup said on Thursday that it may need to create 150 new jobs in the European Union to deal with the impact of Britain leaving the bloc, as it confirmed it would headquarter its EU trading operations in Frankfurt.
Categories: business

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