LOS ANGELES (Reuters) – The windfall gains from the tax cuts passed by the U.S. Congress in December have brought back “animal spirits” that encourage risk-taking throughout corporate America, according to some of the participants at the annual Milken Institute Global Conference in California on Monday. Michael Corbat, CEO of Citigroup, speaks…
Month: April 2018
HNA set to drop acquisition of SkyBridge Capital: WSJ
(Reuters) – Chinese conglomerate HNA Group Co is set to drop its pursuit of hedge-fund investment firm SkyBridge Capital, after facing resistance from Committee on Foreign Investment in the United States (CFIUS), the Wall Street Journal reported on Monday. FILE PHOTO: A HNA Group logo is seen on the building of HNA…
Wall Street edges higher on strong McDonald’s earnings, health drags
(Reuters) – U.S. stocks rose on Monday as strong earnings reports from McDonald’s (MCD.N) and a slate of merger announcements lifted sentiment, while inflation worries were kept in check after tepid data on U.S. income and spending. A specialist trader works at his post on the floor of the New York Stock…
Exclusive: U.S. Treasury meets business groups on Chinese investment bill – sources
WASHINGTON (Reuters) – U.S. Treasury officials are meeting with about 10 industry groups on Monday to discuss the latest draft of legislation that would tighten scrutiny of foreign investment in order to limit Chinese efforts to acquire sophisticated U.S. technology, three sources familiar with the meeting said. FILE PHOTO: U.S. Treasury Secretary…
OPEC April oil output hits year low on Venezuela slide: Reuters survey
LONDON (Reuters) – OPEC oil output fell in April to a one-year low due to declining production in Venezuela and lower shipments from African producers, a Reuters survey found, sending compliance with a supply-cutting deal to another record. FILE PHOTO: Oil pumping facilities are seen at Venezuela’s western Maracaibo lake in Venezuela,…
McDonald’s serves up quarterly beat on higher global sales, U.S. spending
(Reuters) – McDonald’s Corp (MCD.N) blew past analysts’ forecasts for profit and revenue on Monday, helped by higher sales in overseas markets and as U.S. customers spent more at its outlets. Shares of the world’s biggest fast food chain by revenue rose more than 5 percent as global same-restaurant sales topped Wall…
Investors look to Apple’s cash, services as iPhone sales seen stalling
(Reuters) – Apple Inc’s (AAPL.O) multi-hundred billion cash stockpile and stalling growth in services such as iCloud present an opportunity and a concern that some investors hope will be addressed in the company’s quarterly earnings report on Tuesday. FILE PHOTO: An iPhone X is seen on a large video screen in the…
Marathon to become top U.S. refiner with $23 billion Andeavor buy
(Reuters) – Marathon Petroleum Corp (MPC.N) agreed to buy rival Andeavor (ANDV.N) for more than $23 billion in the largest-ever tie-up between U.S. refiners, giving the combined company a nationwide presence and increased access to growing export markets. FILE PHOTO: U.S. President Donald Trump delivers remarks on his proposed changes to the…
U.S. treasury chief: ‘Cautiously optimistic’ on China trade talks
WASHINGTON (Reuters) – U.S. and Chinese officials will hold highly anticipated trade talks in China on Thursday and Friday, U.S. Treasury Secretary Steven Mnuchin told Fox Business Network, saying he was “cautiously optimistic” about the meeting. U.S. Secretary of the Treasury Steven Mnuchin arrives for the State Dinner in honor of French…
Exclusive: U.S. EPA grants biofuels waiver to billionaire Icahn’s oil refinery – sources
NEW YORK (Reuters) – The U.S. Environmental Protection Agency has granted a financial hardship waiver to an oil refinery owned by billionaire Carl Icahn, a former adviser to President Donald Trump, exempting the Oklahoma facility from requirements under a federal biofuels law, according to two industry sources briefed on the matter. The…
U.S. argues AT&T hiding real consumer impact of Time Warner deal
WASHINGTON (Reuters) – AT&T sought to hide the high cost to consumers of its $85-billion deal to buy movie and TV producer Time Warner, the Justice Department said in its closing arguments on Monday as the United States tried to block the deal in court. FILE PHOTO: A combination photo shows the…
AT&T court fight with U.S. Justice Department heads into closing arguments
WASHINGTON (Reuters) – Lawyers for the U.S. Justice Department and AT&T will give closing arguments on Monday in a trial to determine if the wireless giant, owner of pay TV provider DirecTV, will be allowed to buy movie and TV show maker Time Warner. FILE PHOTO: A combination photo shows the Time…
T-Mobile, Sprint say $26 billion deal would give U.S. tech lead over China
(Reuters) – T-Mobile US Inc (TMUS.O) and Sprint Corp (S.N) said on Sunday they had agreed to a $26 billion all-stock deal and believed they could win over skeptical regulators because the merger would create thousands of jobs and help the United States beat China to creating the next generation mobile network.…
T-Mobile, Sprint say $26 billion deal would give U.S. tech lead over China
(Reuters) – T-Mobile US Inc (TMUS.O) and Sprint Corp (S.N) said on Sunday they had agreed to a $26 billion all-stock deal and believed they could win over skeptical regulators because the merger would create thousands of jobs and help the United States beat China to creating the next generation mobile network.…
Canadian exchange operator TMX blames hardware failure for outage
TORONTO (Reuters) – Canada’s largest stock exchange operator said on Saturday that the failure of data storage equipment caused an outage that shut down the world’s sixth-largest stock market for several hours on Friday afternoon. A darkened television studio is seen at the offices of TMX Group, which operates the Toronto Stock…
Saudi Aramco appoints first woman to the board
DUBAI (Reuters) – Saudi Aramco, the world’s top oil company which is preparing to go public, said on Sunday it has appointed new members to its board including a female executive, a milestone for Saudi Arabia and the oil industry where there are few women executives. FILE PHOTO: A Saudi Aramco employee…
China eases restrictions on foreign ownership of securities ventures
BEIJING (Reuters) – China’s securities regulator has released new guidelines for foreign investment in Chinese security joint ventures in which it eased some restrictions and launched an application process for more foreign ownership. Investors look at an electronic board showing stock information at a brokerage house in Shanghai, China, March 7, 2016.…
Outrage breaks out after Whole Foods partners with Yellow Fever eatery
LOS ANGELES (Reuters) – Amazon.com’s Whole Foods Market sparked social media outrage after its newest store in its 365 grocery chain partnered with an Asian restaurant with the racially charged name of Yellow Fever. A Whole Foods Market store is seen in Santa Monica, California, U.S. March 19, 2018. REUTERS/Lucy Nicholson The…