FILE PHOTO: A worker carries Barbie dolls to put them on the shelves at a toy store in Caracas November 14, 2014. REUTERS/Carlos Garcia Rawlins/File Photo (Reuters) – Mattel Inc said on Friday 2019 gross sales were expected to be flat, with weakness in Thomas & Friends and American Girl offseting comparatively…
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Exclusive: China ride-hailing giant Didi plans Chile, Peru launches to take on Uber
SANTIAGO/BUENOS AIRES (Reuters) – Chinese ride-hailing giant Didi Chuxing is planning to take on U.S. rival Uber in some of Latin America’s fastest-growing markets, recruiting managers in Chile, Peru and Colombia, according to job postings and a company official. FILE PHOTO: The logo of Didi Chuxing is seen at a Didi station…
Oil rises over 2 percent to 2019 highs on tightening supplies
NEW YORK (Reuters) – Oil prices rose more than 2 percent to their highest this year on Friday after an outage at Saudi Arabia’s offshore oilfield boosted expectations for tightening supply, while progressing U.S.-Sino trade talks strengthened demand sentiment. FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing…
Amazon places big bet on aspiring Tesla rival Rivian
DETROIT/SAN FRANCISCO (Reuters) – Amazon.com Inc said on Friday it would lead a $700 million investment in U.S. electric pickup truck startup Rivian Automotive LLC, in the e-commerce giant’s biggest bet on technologies with potential to reshape the automotive sector. FILE PHOTO: Rivian introduces R1T all-electric pickup truck at Los Angeles Auto…
After strong 2019 start for U.S. stocks, trade verdict looms
NEW YORK (Reuters) – Optimism about a U.S.-China trade agreement has helped drive U.S. stocks to more than two-month highs, creating a make-or-break moment for Wall Street as a year-long clash between the world’s two largest economies comes to a head. FILE PHOTO: Traders work on the floor of the New York…
U.S.-China trade talks to resume next week, Trump hints at extension
BEIJING/WASHINGTON (Reuters) – The United States and China will resume trade talks next week in Washington with time running short to ease their bruising trade war, but U.S. President Donald Trump repeated on Friday that he may extend a March 1 deadline for a deal and keep tariffs on Chinese goods from…
Wall Street rallies on trade hopes
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 13, 2019. REUTERS/Brendan McDermid NEW YORK (Reuters) – Wall Street rallied on Friday, with the Dow and the Nasdaq posting their eighth consecutive weekly gains as investors grew hopeful that the United States and China…
Amazon pulls the plug on New York headquarters
(Reuters) – Amazon.com Inc abruptly scrapped plans for a new headquarters in New York that could have created 25,000 jobs, blaming opposition from local leaders upset by the nearly $3 billion in incentives promised by state and city politicians. The company said on Thursday it did not see consistently “positive, collaborative” relationships…
General Electric scraps plan for 12-story Boston headquarters
FILE PHOTO: The General Electric logo is pictured on the General Electric offshore wind turbine plant in Montoir-de-Bretagne, near Saint-Nazaire, western France, November 21, 2016. REUTERS/Stephane Mahe/File Photo NEW YORK (Reuters) – General Electric Co scrapped plans for a 12-story headquarters office tower on Boston’s waterfront on Thursday, choosing instead to lease…
CBS misses revenue estimates on weak content licensing and distribution
FILE PHOTO: The CBS broadcasting logo is seen outside the CBS Broadcast Center in Manhattan, New York, U.S., July 30, 2018. REUTERS/Shannon Stapleton/File Photo (Reuters) – CBS Corp on Thursday reported fourth-quarter revenue below analysts’ estimates due to a drop in content licensing and distribution sales. Net income from continuing operations rose…
Retailer Payless ShoeSource set to shutter its U.S. stores: sources
FILE PHOTO: A Payless ShoeSource store is pictured in El Cajon, California, U.S., August 8, 2017. REUTERS/Mike Blake (Reuters) – U.S. discount retailer Payless ShoeSource Inc plans to close all of its approximately 2,300 stores when it files for bankruptcy later this month for the second time in as many years, people…
Charlie Munger targets active managers, Elon Musk; praises China
(Reuters) – Charlie Munger, the longtime business partner of Warren Buffett at Berkshire Hathaway Inc, on Thursday criticized active fund managers, bankers and even Elon Musk as he urged investors to court simplicity and temper expectations for future returns.Munger, 95, often provoked laughter as he fielded questions at the annual meeting of…
Fall in U.S. retail sales dampens world stock market rally
NEW YORK (Reuters) – The steepest decline in U.S. retail sales since 2009 in December halted a broad rally in world stock markets on Thursday and pushed investors into the safety of government bonds. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S.,…
Top U.S. trade envoys to meet China’s Xi, no decision on deadline extension
WASHINGTON/BEIJING (Reuters) – The Trump administration’s top two negotiators in trade talks with China will meet on Friday with Chinese President Xi Jinping, but there has been no decision to extend a March 1 U.S. deadline for a deal, White House economic adviser Larry Kudlow said on Thursday. “The vibe in Beijing…
Airbus A380 production halt to fuel transatlantic trade spat
TOULOUSE, France (Reuters) – Airbus’s decision to shut production of the A380 looks set to reignite a translatlantic trade row over mutual claims of illegal aircraft subsidies, even as Airbus implements a two-year plan to stop making the world’s largest airliner. An A380 Airbus superjumbo sits on the tarmac where it is…
Big hedge funds dumped China stocks, Apple as market tumbled
NEW YORK (Reuters) – Prominent hedge fund managers sold out of Chinese technology stocks and dumped Silicon Valley giants like Apple Inc and Facebook Inc while global stock markets cratered during the fourth quarter, according to securities filings released on Thursday. FILE PHOTO: An investor watches a board showing stock information at…
S&P 500 slips amid grim retail sales, trade hopes
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 13, 2019. REUTERS/Brendan McDermid NEW YORK (Reuters) – The S&P 500 and the Dow slipped while the Nasdaq posted a slim gain on Thursday as investors struggled to square grim retail sales data with hopes…
Wall Street rises on trade hopes, inflation data
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 13, 2019. REUTERS/Brendan McDermid NEW YORK (Reuters) – Wall Street closed higher on Wednesday as investors were hopeful that the United States and China could iron out a trade deal and as benign inflation data…
Senate Democrats press Trump for China IP, tech transfer commitments
FILE PHOTO: Senator Robert Menendez (D-NJ) speaks to the media on Capitol Hill in Washington, U.S., November 28, 2018. REUTERS/Joshua Roberts WASHINGTON (Reuters) – Seven U.S. Democratic senators urged President Donald Trump on Wednesday to press China for a trade deal that fully addresses the technology transfer and intellectual property concerns outlined…
Trump: China trade talks going ‘very well’ before high-level parley
WASHINGTON/BEIJING (Reuters) – U.S. President Donald Trump said on Wednesday trade talks with China were “going along very well” as the world’s two largest economies try to resolve their seven-month tariff war ahead of a March 1 deadline for a deal. FILE PHOTO: U.S. President Donald Trump speaks next to Commerce Secretary…