Business

Philly restaurants close for #DayWithoutImmigrants

A small group of immigrants gathered in Thomas Paine Plaza in front of the "Government of the People" statue on Thursday afternoon, clutching American flags. They would normally have been at work.Like these workers, many others decided to stay home Thursday as part of the "Day Without Immigrants"...

Thursday, February 16, 2017 - 11:02am

Some Boston businesses close for #DayWithoutImmigrants

Many immigrants remained home Thursday and businesses across Boston, Cambridge and Somerville shuttered their doors in solidarity with the "Day Without Immigrants" movement.The nationwide protest was aimed at highlighting the contributions of immigrants on daily life.Similar closures and protests...

Thursday, February 16, 2017 - 10:00am

Little hope for textile industry revival in struggling Nigeria

By Afolabi Sotunde KADUNA, Nigeria (Reuters) - Talba Goni has been trying without luck to get government funds or loans to restart a textile plant in Kaduna, the former industrial heartland in northern Nigeria, that he...

Wednesday, February 15, 2017 - 10:57am

Mortgage investor Premium Point discloses SEC probe

By Lawrence Delevingne NEW YORK (Reuters) - Premium Point Investments LP is under investigation by the U.S. Securities and Exchange Commission over the valuation of structured products and other assets held by its funds, according to a letter sent to clients of the...

Tuesday, February 14, 2017 - 11:09pm

CHECK IT OUT: Say 'I love you' with a Burger King meal in Israel and a sex toy

Talk about a "happy" meal! Sorry Mickey D's, but Burger King might have won this holiday.Burger King in Israel was selling "Adult Meals" after 6 p.m. on Valentine's Day. Forget the candles and wine. Who needs 'em? This box is packed with two Whoppers, two fries, two beers and (wait for it) a sex...

Tuesday, February 14, 2017 - 5:20pm

China's pain, Italy's gain: high costs push textile buyers west

By Venus Wu and Giulia Segreti HONG KONG/BIELLA, Italy (Reuters) - International textiles buyers are increasingly switching away from China, and back to Western suppliers, as rising labor, raw material and energy costs...

Tuesday, February 14, 2017 - 4:53am

Exclusive: Burger King and Tim Hortons owner in bid to buy Popeyes - sources

By Lauren Hirsch and Greg Roumeliotis (Reuters) - Restaurant Brands International Inc <QSR.TO>, owner of the Burger King and Tim Hortons fast-food chains, has approached Popeyes Louisiana Kitchen Inc <PLKI.O> about a possible acquisition, people...

Tuesday, February 14, 2017 - 1:50am

Sales of Ivanka Trump apparel slumped at Nordstrom: WSJ report

WASHINGTON (Reuters) - Nordstrom's sales of Ivanka Trump's line of clothing and shoes fell by nearly one-third in the past fiscal year, with sharp drops in sales in the weeks before her father Donald Trump was elected president, the Wall Street Journal reported on...

Saturday, February 11, 2017 - 10:15pm

SEC charges Chinese exec with DreamWorks insider trading

By Jonathan Stempel and Eric Walsh WASHINGTON (Reuters) - A Chinese private equity executive has been charged by the U.S. Securities and Exchange Commission with reaping $29.05 million of illegal profit from insider trading ahead of Comcast Corp's <CMCSA.O>...

Saturday, February 11, 2017 - 1:41am

Ford to invest $1 billion in autonomous vehicle tech firm Argo AI

By Alexandria Sage SAN FRANCISCO (Reuters) - Ford Motor Co plans to invest $1 billion over the next five years in tech startup Argo AI to help the Detroit automaker reach its goal of producing a self-driving vehicle for commercial ride sharing fleets by 2021,...

Saturday, February 11, 2017 - 1:23am

ABB says cooperating with UK corruption probe

ZURICH (Reuters) - ABB <ABBN.S> said it was cooperating with anti-fraud authorities in the United States and Britain and had reported past dealings with Monaco-based engineering and construction group Unaoil, including alleged improper payments to third parties...

Friday, February 10, 2017 - 10:01pm

More fixed income business but 7 percent fewer traders at big banks in 2016: report

LONDON (Reuters) - Headcount at top global banks' fixed income, currency and commodity (FICC) desks fell 7 percent last year, despite the shock Brexit vote and outcome of the U.S. election boosting trading, industry figures showed on Friday. Tighter regulation and...

Friday, February 10, 2017 - 4:23pm

Japan automaker shares feel heat ahead of Trump-Abe meeting

By Marika Tsuji TOKYO (Reuters) - Japanese carmaker shares have underperformed their peers in the United States so far this year as investors fret over U.S. President Donald Trump's protectionist stance, ahead of his meeting with Prime Minister Shinzo Abe later...

Friday, February 10, 2017 - 3:48pm

Ernst & Young's Indonesia affiliate to pay $1 million to settle 'audit failure'

By Eveline Danubrata JAKARTA (Reuters) - An Indonesian affiliate of global accounting firm Ernst & Young (EY) [ERNY.UL] has agreed to pay a fine of $1 million after the U.S. audit regulator labeled lapses in its checks of a client's books "audit failure...

Friday, February 10, 2017 - 12:00pm

U.S. court blocks Anthem-Cigna merger, dealing blow to consolidation

By Diane Bartz and Caroline Humer (Reuters) - A federal judge on Wednesday ruled against U.S. health insurer Anthem Inc's <ANTM.N> proposed $54 billion merger with smaller rival Cigna Corp <CI....

Thursday, February 9, 2017 - 6:06am

Icahn to sell closed Trump Taj Mahal casino in Atlantic City

NEW YORK (Reuters) - Billionaire activist investor Carl Icahn said on Monday he planned to sell his shuttered Trump Taj Mahal casino in Atlantic City, New Jersey, likely bringing an end to his troubled relationship with the city. Icahn, a special adviser...

Tuesday, February 7, 2017 - 5:04am

Arconic shareholder throws support behind Elliott's directors

By Michael Flaherty (Reuters) - A large Arconic Inc. <ARNC.N> shareholder said on Monday it supports the effort by hedge fund Elliott Management to shake-up the company's board and urged the firm to avoid a proxy fight. First Pacific Advisors LLC...

Tuesday, February 7, 2017 - 2:48am

Hyundai Motor Group promotes fewer executives after flagship's profit drop

SEOUL (Reuters) - Hyundai Motor Group, South Korea's second-biggest conglomerate, said on Monday that in an annual reshuffle it has promoted 348 executives, down 5 percent from last year, due to "growing business uncertainty". The revamp comes as Hyundai Motor...

Monday, February 6, 2017 - 10:31am

National Australia Bank first quarter earnings fall 1 percent as costs rise

By Jamie Freed SYDNEY (Reuters) - National Australia Bank Ltd <NAB.AX> (NAB), the No. 4 lender by market value, on Monday reported a 1 percent fall in first quarter unaudited cash profit as costs grew faster than revenue. NAB posted unaudited...

Monday, February 6, 2017 - 4:42am

China vows strong punishments for illegal financing activities

BEIJING (Reuters) - China will severely punish people involved in illegal financing activities, especially targeting underground banks and the stock market, after a series of scandals, state news agency Xinhua said on Sunday, citing the state prosecutor. "...

Sunday, February 5, 2017 - 8:00am