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SoftBank joins GM in self-driving car race; GM shares soar

(Reuters) – Japan’s SoftBank Group Corp (9984.T) will invest $2.25 billion in General Motors Co’s (GM.N) autonomous vehicle unit Cruise, the companies said on Thursday, a deal that validates the venerable Detroit automaker’s leadership in self-driving cars and sent GM shares up more than 10 percent. The move by SoftBank’s $100-billion Vision…

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Goldman says market activity ebbs in second quarter

(Reuters) – Goldman Sachs Group Inc (GS.N) President David Solomon said on Thursday that second-quarter market activity had decreased from the first quarter, when heightened volatility helped Wall Street banks record huge profits. David M. Solomon, President and Chief Operating Officer, Goldman Sachs, speaks at the Milken Institute’s 21st Global Conference in…

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Icahn sells 10.5 million Herbalife shares back to company

BOSTON (Reuters) – Billionaire investor Carl Icahn, who sparred for years with short-seller William Ackman over the future of Herbalife Nutrition Ltd (HLF.N), on Thursday said he sold roughly $552 million worth of Herbalife stock back to the company, trimming his stake to 21 percent. FILE PHOTO: Billionaire activist-investor Carl Icahn gives…

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U.S. hits allies with tariffs as risk of trade war rises

WASHINGTON/PARIS (Reuters) – The United States on Thursday said it will impose tariffs on aluminum and steel imports from Canada, Mexico and the European Union, reigniting investor fears of a global trade war as Washington’s allies took steps to retaliate against U.S. goods. The move, announced by U.S. Commerce Secretary Wilbur Ross…

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Money

Why U.S. retirees are waiting longer to claim Social Security

CHICAGO (Reuters) – Fewer Americans are asking Social Security to “show me the money” as soon as possible. A resident at the Greenspring Village Community in Springfield, Virginia holds a “Wiimote” as he plays with the community’s Wii videogame console March 22, 2007. REUTERS/Kevin Lamarque The share of workers claiming Social Security…

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Uber seeks to cut pricing on $1.13 billion term loan

NEW YORK (LPC) – Ride-hailing service Uber Technologies Inc is asking lenders to lower pricing on its $1.13 billion term loan due in 2023, sources said. FILE PHOTO: The logo of Uber is seen on an iPad, during a news conference to announce Uber resumes ride-hailing service, in Taipei, Taiwan April 13, 2017. REUTERS/Tyrone Siu/File…

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Wall St. rebounds; worries over Italy ease

NEW YORK (Reuters) – U.S. stocks ended higher on Wednesday, with the S&P 500 and Dow registering their biggest daily percentage gains since May 4, as signs emerged of an easing of political turmoil in Italy and a surge in oil prices boosted energy stocks. FILE PHOTO: Traders work at the Citadel…

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Fox sets Disney deal vote for July 10

(Reuters) – Twenty-First Century Fox Inc (FOXA.O) will hold a special meeting on July 10th for its stockholders to vote on a proposed merger with Walt Disney Co (DIS.N), the company said on Wednesday. FILE PHOTO: Tennis – US Open – Mens Final – New York, U.S. – September 10, 2017 –…

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