Business

LIA chief Ali Shamekh targets inward investment, London office

By Claire Milhench LONDON (Reuters) - Libya's $66 billion sovereign fund should invest in domestic power and energy infrastructure but must first unite the factions battling to control it and get sanctions on its assets lifted, one of its leaders said...

Wednesday, March 29, 2017 - 10:25am

Huge nuclear cost overruns push Toshiba's Westinghouse into bankruptcy

By Tom Hals, Makiko Yamazaki and Tim Kelly WILMINGTON, DEL./TOKYO (Reuters) - Westinghouse Electric Co, a unit of Japanese conglomerate Toshiba Corp, filed for bankruptcy on Wednesday, hit...

Wednesday, March 29, 2017 - 10:09am

Japan manufacturers mood at three-year high on export-led recovery: Reuters Tankan

By Tetsushi Kajimoto and Izumi Nakagawa TOKYO (Reuters) - Confidence among Japanese manufacturers rose for a seventh straight month in March to a three-year high, while the service sector's mood held steady, a Reuters poll showed, highlighting an export-...

Friday, March 24, 2017 - 4:43am

Citi says EU 'equivalence' regime no answer to Brexit banking question

By Huw Jones and Andrew MacAskill LONDON (Reuters) - British-based banks would be foolhardy to expect to retain access to European Union markets in return for sticking closely to the bloc's rules after Brexit, a senior banking official said on Wednesday...

Wednesday, March 22, 2017 - 10:46pm

Mobileye deal to fuel investment in late-stage Israeli start-ups

By Tova Cohen and Steven Scheer TEL AVIV (Reuters) - Intel's $15.3 billion acquisition of Mobileye has catapulted Israeli hi-tech into the global league, and is likely to stimulate investment in the sector's other late-stage startups,...

Wednesday, March 22, 2017 - 10:45pm

Walmart announces plan to invest $800 million in Chile

SANTIAGO (Reuters) - Wal-Mart Stores Inc's <WMT.N> Chilean unit will invest $800 million in the country over the next three years and open 55 to 60 new supermarkets, the company said on Wednesday, a significant outlay at a time of slow economic growth...

Wednesday, March 22, 2017 - 9:43pm

Shareholders urge Akzo to negotiate with suitor PPG

By Thomas Escritt and Toby Sterling AMSTERDAM (Reuters) - Shareholders piled pressure on Dutch paint maker Akzo Nobel <AKZO.AS> to open talks with U.S. rival PPG Industries <PPG.N> on...

Wednesday, March 22, 2017 - 4:18pm

Chinese supermarkets pull Brazil meat from shelves as food safety fears grow

By Dominique Patton BEIJING (Reuters) - Some of China's largest food suppliers have pulled Brazilian beef and poultry from their shelves in the first concrete sign that a deepening scandal...

Wednesday, March 22, 2017 - 3:04pm

Profits rise 6 percent at Li Ka-shing's CK Hutchison, beats forecast

By Donny Kwok and Venus Wu HONG KONG (Reuters) - CK Hutchison Holdings Ltd <0001.HK>, the ports-to-telecoms arm of billionaire businessman Li Ka-shing, beat forecasts on Wednesday with a 6 percent rise in 2016 net profit and said it was cautiously...

Wednesday, March 22, 2017 - 2:33pm

Adobe, Microsoft team up to share sales and marketing data

By Stephen Nellis (Reuters) - Microsoft Corp and Adobe Systems Inc are joining to make their respective sales and marketing software products more potent competitors to Salesforce.com Inc and Oracle Corp offerings, the two firms said Monday. On the...

Monday, March 20, 2017 - 11:53pm

U.S. investor, CEO groups set for lobbying battle over proxy challenges

By Sarah N. Lynch WASHINGTON (Reuters) - Shareholder activists are pushing back against a major business trade group's request that the White House use its influence on the U.S. securities regulator to make it harder to get governance, political or environmental...

Monday, March 20, 2017 - 6:40pm

David Rockefeller, billionaire philanthropist, dies at age 101 in New York

Billionaire philanthropist David Rockefeller, former head of Chase Manhattan and patriarch of one of the most famous and influential American families, died on Monday, a family spokesman said. He was 101.Rockefeller, who reportedly gave away nearly $2 billion in his lifetime, died in his sleep of...

Monday, March 20, 2017 - 5:38pm

Exclusive: Iran struggles to coax Bank of England to open clearing accounts - sources

By Jonathan Saul and Parisa Hafezi LONDON/ANKARA (Reuters) - Iran has asked the Bank of England to set up special clearing accounts for its banks, but has so far been rebuffed in its effort to resolve an impasse that has left it excluded from banking...

Monday, March 20, 2017 - 12:26pm

China, EU cut imports of Brazil meat amid scandal

By Brad Brooks and Dominique Patton SAO PAULO/BEIJING (Reuters) - China and the European Union curtailed meat imports from Brazil on Monday after police, in an anti-corruption probe criticized by the government as alarmist, accused inspectors...

Monday, March 20, 2017 - 10:37am

Piech Porsche SE stake may be sold by end May: Bild am Sonntag

FRANKFURT (Reuters) - A large Porsche SE <PSHG_p.DE> stake owned by former Volkswagen <VOWG_p.DE> chairman Ferdinand Piech may be bought by other members of the Porsche and Piech clans before May 30, German weekly Bild am Sonntag said. Porsche SE...

Saturday, March 18, 2017 - 7:19pm

Last RBS investor group held settlement talks over 2008 cash call : sources

By Andrew MacAskill and Kirstin Ridley LONDON (Reuters) - Lawyers representing tens of thousands of Royal Bank of Scotland <RBS.L> shareholders have held tentative talks to settle a 1.2 billion pound ($1.5 billion) damages claim over the lender's 2008...

Friday, March 17, 2017 - 7:35am

BAT says strong demand for 'glo' smokeless tobacco

TOKYO (Reuters) - British American Tobacco (BAT) said demand for its "glo" tobacco heating device overwhelmed supply in its Japan test marketing, as global cigarette giants shift focus to the new product category amid declining smoking population. The "heat but...

Thursday, March 16, 2017 - 10:24pm

Halfway into 2017's oil supply cut, Asia remains awash with fuel

By Florence Tan and Henning Gloystein SINGAPORE (Reuters) - Halfway into an OPEC-led oil supply cut, Asia remains awash with fuel in a sign that the group's efforts to rein in a global glut have so far had little effect. The Organization of the...

Thursday, March 16, 2017 - 10:19pm

McDonald's tweets then deletes anti-Trump message

McDonald's was not lovin' Donald Trump Thursday morning, or at least its Twitter account wasn't.A now deleted tweet lashed out at the president, saying, "@realDonaldTrump You are actually a disgusting excuse of a President and we would love to have @BarackObama back, also you have tiny hands."After...

Thursday, March 16, 2017 - 11:32am

China, Saudi Arabia eye $65 billion in deals as king visits

By Ben Blanchard BEIJING (Reuters) - Saudi Arabia's King Salman oversaw the signing of deals worth as much as $65 billion on the first day of a visit to Beijing on Thursday, as the world's largest oil exporter looks to cement ties with the...

Thursday, March 16, 2017 - 3:03am