Business

Cleveland and Richmond Feds alone in wanting discount rate increase: minutes

WASHINGTON (Reuters) - Only two out of 12 regional Federal Reserve banks wanted an increase in the rate commercial banks are charged for emergency loans ahead of the U.S central bank's last policy meeting, minutes from a discussion of the discount rate showed on Tuesday...

Tuesday, February 28, 2017 - 2:13pm

Boston Dynamics introduces latest 'nightmare inducing' robot

There's a new robot in town.This bipedal robot on wheels made by Boston Dynamics is known as "Handle" and seems to do exactly that: handle its environment.Handle is a research robot, which means Boston Dynamics isn't planning to mass produce for the marketplace anytime soon. It stands 6-feet 6-...

Monday, February 27, 2017 - 6:14pm

JPMorgan, Microsoft, Intel and others form new blockchain alliance

By Anna Irrera NEW YORK (Reuters) - JPMorgan Chase & Co <JPM.N>, Microsoft Corp <MSFT.O>, Intel Corp <INTC.O> and more than two dozen other companies have teamed up to develop standards and technology to make it easier for...

Monday, February 27, 2017 - 5:53pm

Exclusive: Wal-Mart launches new front in U.S. price war, targets Aldi in grocery aisle

By Nandita Bose (Reuters) - Wal-Mart Stores Inc <WMT.N> is running a new price-comparison test in at least 1,200 U.S. stores and squeezing packaged goods suppliers in a bid to close a pricing gap...

Monday, February 27, 2017 - 1:09am

Exclusive: Algeria's Sonatrach in talks to begin offshore drilling - source

By Lamine Chikhi ALGIERS (Reuters) - Algeria's Sonatrach wants to start offshore oil drilling and has begun discussions with U.S. operators Exxon Mobil Corp <XOM.N> and Anadarko <APC.N> as well as Italy's Eni <ENI.MI>, a source at the...

Sunday, February 26, 2017 - 1:45pm

Faced with US import tariff, Mexico says could tax select goods

MEXICO CITY (Reuters) - Mexico would probably respond to any tariff the United States imposes on imports from its southern neighbor with levies on select goods, Mexico's Foreign Minister Luis Videgaray said on Friday. The Mexican government also has to be ready...

Friday, February 24, 2017 - 4:35pm

Fidelity, T. Rowe poised for gains on Snap IPO

By Tim McLaughlin BOSTON (Reuters) - Mutual funds run by Fidelity Investments and T. Rowe Price Group Inc <TROW.O> could be poised for a quick win on the upcoming public debut of Snap Inc <SNAP.N>. Both fund companies made...

Friday, February 24, 2017 - 1:01pm

South Africa central bank wants accountability in FX rigging scandal

JOHANNESBURG (Reuters) - South Africa's central bank wants commercial lenders involved in the rand currency rigging scandal to be held accountable, deputy governor Daniel Mminele said on Friday. South Africa's Competition Commission said last week that it had...

Friday, February 24, 2017 - 7:04am

Germany says unsure of Trump trade stance, but keen for U.S. talks

BERLIN (Reuters) - Germany does not yet have a full picture of the approach U.S. President Donald Trump's administration is taking on foreign, security and trade policy but is keen to engage with Washington on these issues, a Foreign Ministry spokesman said on Friday...

Friday, February 24, 2017 - 6:22am

China 'closely watching' Trump's tax cut plan: govt official

BEIJING (Reuters) - China is "closely watching" tax cut plans by U.S President Donald Trump, even as the country keeps its corporate tax rate unchanged, a senior finance ministry official said on Friday. President Trump plans to announce the most ambitious tax...

Friday, February 24, 2017 - 5:39am

Turbulence tests Ivory Coast's feted economic revival

By Joe Bavier ABIDJAN (Reuters) - Fallout from army mutinies, public sector strikes and a cocoa crisis is threatening to derail Ivory Coast's public finances and turn startling economic growth into a cycle of hardship and social unrest....

Friday, February 24, 2017 - 2:07am

Confident Mexico says will not rush to negotiate NAFTA with Trump

By Christine Murray and Michael O'Boyle MEXICO CITY (Reuters) - Mexico is increasingly confident that U.S. President Donald Trump will not be able to impose harsh barriers on imports anytime soon, and officials signaled they may hit their northern neighbor's...

Thursday, February 23, 2017 - 7:51pm

Viacom sweetens tax-related terms on new bond sale

By Will Caiger-Smith NEW YORK (IFR) - Investors piled into a hybrid bond offering from US media giant Viacom on Thursday, but the issuer had to sweeten some of the terms to reflect the risk of sweeping US tax reforms. The bond initially included a tax...

Thursday, February 23, 2017 - 4:25pm

Kohl's, Macy's turn landlords in bid to unlock real estate value

By Siddharth Cavale and Sruthi Ramakrishnan (Reuters) - Department store operators Kohl's Corp <KSS.N> and rival Macy's Inc <M.N> are betting on a potential money-spinner - carving out prime space within their sprawling stores and leasing them to...

Thursday, February 23, 2017 - 4:11pm

L Brands sees record Victoria's Secret sales fall, shares slide

By Richa Naidu and Gayathree Ganesan (Reuters) - Shares of L Brands Inc <LB.N> tumbled to a three-year low on Thursday, a day after the retailer said it expected sluggish demand for Victoria's Secret lingerie to force its biggest brand's steepest ever...

Thursday, February 23, 2017 - 3:13pm

Confident Snap brushes off concerns on second day of IPO roadshow

By Lauren Hirsch and Liana B. Baker NEW YORK (Reuters) - Snap Inc, owner of popular messaging app Snapchat, fended off investor skepticism on the second day of its IPO roadshow on Tuesday, betting on the charisma of CEO Evan...

Tuesday, February 21, 2017 - 7:05pm

Inbound China M&A takes flight on consumer promise

By Elzio Barreto HONG KONG (Reuters) - Overseas acquisitions by Chinese buyers are cooling after two record years as Beijing reins in capital outflows, but deals into China are on the rise, and new rules will make it easier for foreign buyers to tap...

Sunday, February 19, 2017 - 6:19pm

Italy court seeks $4.4 billion from Treasury executives, Morgan Stanley over derivatives

By Giuseppe Fonte and Isla Binnie ROME (Reuters) - Italian audit court prosecutors said on Friday they are seeking damages of 4.1 billion euros ($4.36 billion) from Treasury officials and U.S. bank Morgan Stanley over derivatives contracts. The...

Friday, February 17, 2017 - 7:11am

China's Juneyao Airlines finalizes $1.32 billion order for five Boeing 787s

SHANGHAI (Reuters) - China's Juneyao Airlines <603885.SS> has finalised a $1.32 billion order for five Boeing <BA.N> 787-9 dreamliners, part of a plan for new routes to North America, Europe and Australia over the next four years. The order...

Thursday, February 16, 2017 - 8:43pm

Pro-Brexit economists urge UK to unilaterally scrap tariffs

By David Milliken LONDON (Reuters) - Britain should be prepared to scrap all tariffs on imports unilaterally when it leaves the European Union to give consumers and the broader economy a boost, even if it hurts some businesses, economists who favor Brexit said...

Thursday, February 16, 2017 - 1:38pm