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Beijing bling: Hyundai plots China branding reboot after missile row

Reuters Business News - Sun, 2017-05-28 02:07
SEOUL/BEIJING (Reuters) - Bruised by anti-Korean sentiment in its biggest market and losing ground to local automakers, Hyundai Motor will open its first Chinese brand store, and may locally assemble its premium Genesis cars and accelerate the launch of a sport-utility vehicle (SUV), people familiar with the plans said.
Categories: business

Reliance Communications hit by Indian mobile price war

Reuters Business News - Sat, 2017-05-27 17:59
MUMBAI (Reuters) - Indian mobile phone network operator Reliance Communications Ltd posted its second straight quarterly loss on Saturday, hit by the price war which has broken out in the world's second-biggest mobile market by number of users.
Categories: business

GM says ISS advises against Greenlight share plan, board nominees

Reuters Business News - Sat, 2017-05-27 17:40
(Reuters) - General Motors Co said on Saturday that proxy advisory firm Institutional Shareholder Services has recommended that shareholders vote against a slate of directors proposed by hedge fund Greenlight Capital and reject the hedge fund's plan to divide GM shares into two classes.
Categories: business

In Aramco IPO pitch, Canada plays up its natural resources expertise

Reuters Business News - Sat, 2017-05-27 09:06
((This May 26th story corrects paragraph 12 to show Falih was speaking at news conference not to Reuters and adds comment on listing))
Categories: business

Switch it up this year: Buy in May, till November stay

Reuters Business News - Sat, 2017-05-27 05:57
NEW YORK (Reuters) - "Sell in May and go away" is perhaps the oldest saw on Wall Street, but it appears there's no shortage of U.S. mutual funds doing exactly that this year.
Categories: business

Wall St. drifts before long weekend; consumer stocks up

Reuters Business News - Sat, 2017-05-27 00:03
(Reuters) - U.S. stocks ended little changed on Friday ahead of the long holiday weekend, though indexes ended a two-week streak of losses and consumer shares were strong for a second day.
Categories: business

Exclusive: Fidelity may back climate resolutions, a milestone for activists

Reuters Business News - Fri, 2017-05-26 23:13
BOSTON (Reuters) - Fidelity Investments may support shareholder proxy proposals calling on companies to report on sustainability matters this year, a major shift by the Boston asset manager as climate activists gain more traction at large U.S. corporations.
Categories: business

Slim seeks to sell minority stake in tower company Telesites: sources

Reuters Business News - Fri, 2017-05-26 21:42
(Reuters) - Billionaire Carlos Slim is looking to sell a minority stake in Telesites SAB de CV , the Mexican wireless tower company that he controls, people familiar with the matter said on Friday.
Categories: business

PepsiCo in bid to acquire Vita Coco owner: sources

Reuters Business News - Fri, 2017-05-26 21:05
(Reuters) - Soft drink maker PepsiCo Inc is in talks to acquire All Market Inc, the owner of coconut water brand Vita Coco, whose celebrity investors include Madonna and Matthew McConaughey, people familiar with the matter said on Friday.
Categories: business

Some investors bet Brazil has further room to fall

Reuters Business News - Fri, 2017-05-26 17:37
NEW YORK (Reuters) - Some investors are betting the worst is yet to come for Brazil's stock market, even after a brutal selloff last week.
Categories: business

Exclusive: China's COFCO overhauls Brazil business after accounting crisis - sources

Reuters Business News - Fri, 2017-05-26 17:24
LONDON/SAO PAULO (Reuters) - Chinese food commodities trader COFCO [CNCOF.UL] is overhauling its operations in Brazil, including a management reshuffle, as it restructures its Nidera Sementes Ltda business following accounting irregularities reported last year, according to company documents and sources.
Categories: business

U.S. economy slowed less than expected in first quarter; outlook cloudier

Reuters Business News - Fri, 2017-05-26 16:40
WASHINGTON (Reuters) - The U.S. economy slowed less than initially thought in the first quarter, but softening business investment and moderate consumer spending are clouding expectations of a sharp acceleration in the second quarter.
Categories: business

Oversold: Oil traders punish OPEC for promising too much

Reuters Business News - Fri, 2017-05-26 14:45
VIENNA (Reuters) - As OPEC's latest meeting wrapped up in Vienna on Thursday night, ministers congratulated each other on its rare spirit of amity and consensus. The talks were, without a doubt, a success.
Categories: business

OPEC ponders how to co-exist with U.S. shale oil

Reuters Business News - Fri, 2017-05-26 14:10
VIENNA (Reuters) - First, they ignored each other. Then, they went into a bruising fight. Finally, they are talking, albeit with opposing agendas.
Categories: business

U.S. home prices to rise at a strong pace on tight supply: Reuters poll

Reuters Business News - Fri, 2017-05-26 13:15
(Reuters) - U.S. home prices look poised to rise at a robust pace over the next few years, mainly because of a chronic shortage of houses and steady demand, a Reuters poll showed on Friday.
Categories: business

China's reforms not enough to arrest mounting debt: Moody's

Reuters Business News - Fri, 2017-05-26 11:16
BEIJING (Reuters) - China's structural reforms will slow the pace of its debt build-up but will not be enough to arrest it, and another credit rating cut for the country is possible down the road unless it gets its ballooning credit in check, officials at Moody's said.
Categories: business

Linde board to vote on Praxair merger on June 1: sources

Reuters Business News - Fri, 2017-05-26 10:51
MUNICH (Reuters) - German industrial gases group Linde's supervisory board is due to vote on a merger agreement with U.S. peer Praxair on June 1, two people close to the matter told Reuters on Friday.
Categories: business

OPEC disappointment hits oil, stocks; sterling down on UK vote jitters

Reuters Business News - Fri, 2017-05-26 05:56
SINGAPORE (Reuters) - Oil prices weakened on Friday, prompting a move away from riskier assets and depressing Asian stocks, after an OPEC agreement to extend cuts in crude production for a further nine months disappointed investors who had bet on bigger output cuts.
Categories: business

U.S. inflation path since 2012 is worrisome, policymaker says

Reuters Business News - Fri, 2017-05-26 05:16
TOKYO (Reuters) - The current level of U.S. prices is noticeably lower than what it would be if the Federal Reserve had delivered on its 2-percent inflation target, St. Louis Federal Reserve President James Bullard said, calling the trend "worrisome."
Categories: business

Oil drops after OPEC-led output cut extension falls below expectations

Reuters Business News - Fri, 2017-05-26 05:08
SINGAPORE (Reuters) - Oil extended falls on Friday after tumbling in the previous session when OPEC and allied producers extended output cuts but disappointed investors betting on longer or larger supply curbs.
Categories: business

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