TOKYO (Reuters) – The Tokyo District Court said on Monday it has extended the detention of ousted Nissan Motor Co chairman Carlos Ghosn by 10 days until Jan. 11. Ghosn, accused of aggravated breach of trust, is facing allegations of making the car maker shoulder 1.85 billion yen ($16.8 million) in personal…
Year: 2018
Fed Chair Powell’s unscripted approach sets up for rocky 2019
WASHINGTON/SAN FRANCISCO (Reuters) – Jerome Powell had a bumpy first year as Federal Reserve chairman when it came to talking policy, by turns spooking and comforting investors even as economic data offered increasingly mixed signals and President Donald Trump stepped up his attacks on the U.S. central bank. And as 2018 closes…
Canada Goose’s first China store draws eager crowds despite diplomatic headwinds
BEIJING (Reuters) – Large crowds have been drawn to Canada Goose’s new outdoor wear store in downtown Beijing, its first in mainland China, since its opening on Friday, despite sub-zero temperatures and a chill in China’s relations with Canada. A sign of Canadian luxury parka maker Canada Goose is pictured at its…
Oil prices slip, set for first annual drop since 2015
HOUSTON (Reuters) – Oil prices slipped 1 percent on the final day of the year, en route for their first annual drop in three years as fears of a slowing global economy and emerging supply glut outweighed impending production cuts from OPEC nations. FILE PHOTO: A pump jack operates in the Permian…
Wall Street falters after strong start to wrap up a rocky 2018
(Reuters) – U.S. stock indexes faltered after a strong start on Monday in thin trading, as optimism on signs of progress in the U.S.-China trade war was offset by oil prices erasing gains in the last day of what is Wall Street’s worst year in a decade. President Donald Trump said he…
Tesla has over 3,000 Model 3s left in U.S. inventory: Electrek
FILE PHOTO: A row of new Tesla Model 3 electric vehicles is seen at a parking lot in Richmond, California, U.S. June 22, 2018. Picture taken June 22, 2018. REUTERS/Stephen Lam (Reuters) – Tesla Inc had over 3,000 Model 3s left in inventory in the United States as of Sunday, automotive news…
Trade optimism lifts stocks, though 2018 set to end with losses
NEW YORK (Reuters) – Equities around the world rose on Monday, with Wall Street edging up in choppy trading as hints of progress in the trade dispute between the United States and China provided a rare glimmer of optimism in what has been a punishing end of year for markets. FILE PHOTO:…
U.S. companies repatriate over half a trillion dollars in 2018, but pace slows
(Reuters) – U.S. companies have sent home over half a trillion dollars of cash they held overseas in 2018 to take advantage of tax changes, but data suggest the pace is slowing, potentially removing a key source of support for Wall Street. FILE PHOTO: U.S. Dollar banknotes are seen in this photo…
‘Pooey Puitton’ purse said to irk Louis Vuitton, prompts lawsuit
(Reuters) – A California toy company has sued Louis Vuitton to stop the French luxury goods maker from interfering with its sales of a slime-filled, poop-shaped toy purse for children, Pooey Puitton. FILE PHOTO: The logo of the Louis Vuitton brand is seen outside a Louis Vuitton store in Paris, France, August…
China factory activity shrinks for first time in over two years, 2019 looks tougher
BEIJING (Reuters) – China’s factory activity contracted for the first time in over two years in December, highlighting the challenges facing Beijing as it seeks to end a bruising trade war with Washington and reduce the risk of a sharper economic slowdown in 2019. FILE PHOTO: Employees work on a production line…
Equities markets limp to finish line after volatile week
NEW YORK (Reuters) – Global investors gravitated toward safe-haven assets on Friday as worries about the world economy persisted, cutting short a two-day rebound in Wall Street stocks. U.S. stock indexes seesawed, making it difficult to end one of the most brutal December selloffs in memory on a high note. “Markets will…
Oil prices steady near year-and-a-half lows ahead of New Year
NEW YORK (Reuters) – Oil prices steadied on Friday after a week of volatile trading ahead of the New Year holiday, supported by a rise in U.S. equity markets but pressured by worries about a global glut of crude. Brent crude LCOc1 futures rose 4 cents to settle at $52.20 a barrel,…
China willing to work with U.S. to implement Argentina talks agreement: Foreign Ministry
FILE PHOTO: Chinese and U.S. flags are set up for a signing ceremony during a visit by U.S. Secretary of Transportation Elaine Chao at China’s Ministry of Transport in Beijing, China April 27, 2018. REUTERS/Jason Lee SHANGHAI (Reuters) – China is willing to work with the United States to implement the consensus…
Yankees in talks with Amazon, Sinclair to bid for Yes Network: WSJ
(Reuters) – The New York Yankees are in talks with Amazon.com Inc and Sinclair Broadcast Group Inc about a joint bid for the team’s regional sports network, Yes, the Wall Street Journal reported on Friday, citing people familiar with the matter. The baseball team, which owns 20 percent of Yes, has also…
Pacific trade pact takes off with tariffs cut in six nations
SYDNEY (Reuters) – A landmark 11-country trade deal, a revamped version of the Trans-Pacific Partnership (TPP), came into force on Sunday with New Zealand’s trade minister hailing the opportunities it presented for exporters. FILE PHOTO – Delegates participate in the opening session of the Trans Pacific Partnership senior leaders meeting in Sydney,…
Deutsche Bank is strong, has no need for state aid, merger: chairman
FILE PHOTO: Deutsche Bank’s Supervisory Board Chairman Paul Achleitner addresses the audience during the bank’s annual meeting in Frankfurt, Germany, May 24, 2018. REUTERS/Kai Pfaffenbach/File Photo FRANKFURT (Reuters) – Deutsche Bank is strong and its turnaround strategy is bearing fruit, Chairman Paul Achleitner said, ruling out the need for state aid and…
Dell returns to market with NYSE listing
(Reuters) – Dell Technologies Inc DELL.N returned to public markets on Friday, nearly six years after the company’s founder and Chief Executive Officer Michael Dell took it private in what was then the biggest buyout since the financial crisis of 2008. A logo of Dell Technologies is seen at the Mobile World…