Business

Bank of America shareholders revive chairman debate

NEW YORK (Reuters) - Bank of America Corp <BAC.N> Chairman and Chief Executive Brian Moynihan will once again face a shareholder vote on whether he should maintain both roles, according to the bank's proxy filing on Wednesday. A shareholder proposal calls...

Wednesday, March 15, 2017 - 12:20pm

China consumer day show skewers Nike shoes, Muji foods

By Jackie Cai and Adam Jourdan SHANGHAI (Reuters) - China's annual consumer rights day television show turned its spotlight on U.S. sports brand Nike Inc <NKE.N> for misleading advertising...

Wednesday, March 15, 2017 - 11:31am

AIG asked CEO Hancock to resign to avoid battle with Icahn: WSJ

(Reuters) - American International Group Inc's <AIG.N> decision to remove Peter Hancock as its chief executive was to avoid a proxy battle with billionaire activist investor Carl Icahn, the Wall Street Journal reported, citing people familiar with the matter...

Tuesday, March 14, 2017 - 2:28pm

Japan's Toyota to look at Saudi production as the countries seek closer ties

TOKYO (Reuters) - Toyota Motor Corp <7203.T> signed a memorandum of understanding (MOU) on Tuesday with a Saudi Arabian government agency to conduct a feasibility study into producing vehicles and parts in the Middle Eastern nation. The move, if firmed up...

Tuesday, March 14, 2017 - 10:39am

Pornhub plows snow in Boston, New York, New Jersey

Need to get plowed? Pornhub is here to help.As the region braces for a foot or more of snow Tuesday, the adult entertainment site is prepared to help anyone who "wants to get plowed."Pornhub has sponsored over two dozen snow plow trucks in Boston, New York and New Jersey to plow streets and...

Tuesday, March 14, 2017 - 10:34am

Novartis wins U.S. approval for breast cancer drug; to compete with Pfizer's Ibrance

By John Miller ZURICH (Reuters) - Novartis has won U.S. Food and Drug Administration approval for Kisqali to treat postmenopausal women who have a difficult-to-treat form of breast cancer, challenging U.S. rival Pfizer's Ibrance. The Swiss company...

Tuesday, March 14, 2017 - 10:20am

Israel eyes tax cuts as Intel-Mobileye deal to boost coffers by $1 billion

By Steven Scheer JERUSALEM (Reuters) - Israel's government will receive about 4 billion shekels ($1.1 billion) after Intel's <INTC.O> planned $15.3 billion purchase of self-driving car tech firm Mobileye <MBLY.N>, helping the government cut more...

Tuesday, March 14, 2017 - 9:18am

China's ZTE Corp names new chairman

By Sijia Jiang HONG KONG (Reuters) - Chinese telecom equipment maker ZTE Corp <000063.SZ> <0763.HK>, which last week agreed to plead guilty and pay nearly $900 million for breaching U.S. sanctions, on Tuesday named Yin Yimin as its new chairman with...

Tuesday, March 14, 2017 - 7:07am

BoE's Hogg resigns over failure to flag conflict of interest

By Andy Bruce and Alistair Smout LONDON (Reuters) - The Bank of England's new deputy governor Charlotte Hogg has resigned for failing to declare a potential conflict of interest about her brother's role at Barclays Bank which had prompted an unprecedented rebuke...

Tuesday, March 14, 2017 - 5:43am

Mitsubishi Heavy shares jump on favorable ruling in $6.7-billion claim

TOKYO (Reuters) - Mitsubishi Heavy Industries Ltd (MHI) <7011.T> jumped over 6 percent on Tuesday after an international arbitrator ruled in its favor over a $6.7 billion compensation claim against the company related to the shutdown of California's San Onofre...

Monday, March 13, 2017 - 11:38pm

Russia mulls raising value added tax, cutting social security tax

MOSCOW (Reuters) - Russia is considering raising value added tax but lowering mandatory social security payments, Finance Minister Anton Siluanov said on Monday. The current government, whose term expires next year, has pledged not to change tax rates. But the next...

Monday, March 13, 2017 - 5:10am

Volkswagen pleads guilty in U.S. court in diesel emissions scandal

By Nick Carey and David Shepardson DETROIT/WASHINGTON (Reuters) - Volkswagen AG <VOWG_p.DE> pleaded guilty on Friday to fraud, obstruction of justice and falsifying statements as part of a $4.3 billion settlement reached with the U.S. Justice Department in...

Friday, March 10, 2017 - 10:08am

Chinese provinces fizz with fervor for Xi's New Silk Road

By Brenda Goh BEIJING (Reuters) - China's regional governments are falling over each other to curry favor with President Xi Jinping, jostling for roles in his New Silk Road plan to boost economic and cultural links through Asia to Europe. One says...

Friday, March 10, 2017 - 8:04am

Canada's environment minister says 'No. 1 focus' is U.S. trade

CALGARY, Alberta (Reuters) - Canadian Environment Minister Catherine McKenna said on Thursday the "No. 1 focus" of her government, including her department, is trade relations with the United States, as Canada steels itself for possible NAFTA renegotiation with its southern...

Thursday, March 9, 2017 - 4:30pm

Good deeds could earn Mass, RI, NH residents $200

If you walked down Dartmouth Street Thursday morning, chances are you left $5 richer.And Doug Flutie — yes, the former NFL quarterback — might have handed it to you.As part of its "Join Us For Good" campaign, Eastern Bank employees, with the help of Flutie and local celebrities the Boston Yeti and...

Thursday, March 9, 2017 - 4:17pm

Ivanka Trump's Chilean billionaire landlord is suing the US

The first daughter is renting a home from a foreign billionaire who is suing the U.S. government over a mine potentially worth billions of dollars, and it's spurring ethics questions.Ivanka Trump and Jared Kushner are renting a $5.5 million house in a Washington neighborhood from Andrónico Luksic....

Thursday, March 9, 2017 - 11:06am

Pimco revamps BOND ETF, changing fund's name and managers

By Trevor Hunnicutt and Jennifer Ablan NEW YORK (Reuters) - Pacific Investment Management Co (Pimco) is replacing the full slate of managers on its Total Return Active Exchange-Traded Fund <BOND.P> and changing its name, a spokeswoman for the fund...

Thursday, March 9, 2017 - 1:15am

Boeing says 737 MAX 10X jet has support from airlines, suppliers

By Alwyn Scott SEATTLE (Reuters) - Boeing Co <BA.N> defended its proposed 737 MAX 10X aircraft on Wednesday, saying it has drawn plaudits from numerous airlines and interest from parts suppliers to rebut criticisms aired at an industry conference on...

Wednesday, March 8, 2017 - 10:43pm

Uber works to mend relationship with regulators

By Heather Somerville SAN FRANCISCO (Reuters) - Uber Technologies Inc is working to mend its relationship with regulators as pressure mounts for the company to improve its business practices and temper Chief Executive Travis Kalanick's aggressive leadership...

Wednesday, March 8, 2017 - 8:05pm

China tries cure by committee for corporate debt hangover

By Shu Zhang and Matthew Miller BEIJING (Reuters) - A $1.44 billion restructuring deal at an insolvent coal mining company in eastern Shandong province offers a glimpse into how China is preparing to tackle a corporate debt burden that has ballooned to $17.9...

Wednesday, March 8, 2017 - 8:28am