CARACAS (Reuters) – U.S. sanctions on Venezuela have led the New York Federal Reserve to crack down on Puerto Rico’s $50 billion offshore banking industry, according to four sources and a document seen by Reuters. The corner stone on the Federal Reserve Bank of New York in the financial district in New…
Category: News
All kinds of news.
Earnings deluge could make or break sentiment
NEW YORK (Reuters) – Next week will go a long way in determining whether investors should be concerned about the dawning of an earnings recession or whether back-to-back quarters of negative growth can be avoided in what is the heaviest week for profit reporting by U.S. companies. FILE PHOTO – A chart…
Nissan to cut global production by 15 percent: Nikkei
The logo of Nissan is seen on a car during the Prague Autoshow in Prague, Czech Republic, April 13, 2019. REUTERS/David W Cerny (Reuters) – Nissan Motor Co Ltd will cut global production by about 15 percent for the current fiscal year ending March 2020, as it shifts away from the aggressive…
National Enquirer to be sold to owner of magazine distributor
(Reuters) – American Media Inc (AMI) said on Thursday it was selling its National Enquirer tabloid to James Cohen, whose family owns a magazine distributor and used to own the Hudson chain of airport newsstands. U.S. tabloid newspaper the National Enquirer display rack is seen in Washington, U.S., April 10, 2019. REUTERS/Jeenah…
Uber’s self-driving unit valued at $7.25 billion in new investment
SAN FRANCISCO (Reuters) – Uber’s autonomous vehicle unit has raised $1 billion from a consortium of investors including SoftBank Group Corp, giving the company a much-needed funding boost for its pricey self-driving ambitions on the eve of its public stock offering. FILE PHOTO: Uber’s logo is displayed on a mobile phone in…
HNA denies embezzlement claims as it fights for control of Hong Kong Airlines
HONG KONG (Reuters) – Embattled Chinese conglomerate HNA Group has denied accusations of embezzlement and financial irregularity made by a rival group of shareholders in Hong Kong Airlines (HKA) as the two sides fight for control of the struggling carrier. The HNA Group logo is seen on the gate of HNA Plaza…
Tesla’s Elon Musk, SEC get another week to work out deal on Twitter use
NEW YORK (Reuters) – Tesla Inc Chief Executive Elon Musk and the U.S. Securities and Exchange Commission will get another week to settle a dispute over Musk’s use of Twitter, a federal judge ruled Thursday. FILE PHOTO: Tesla CEO Elon Musk arrives at Manhattan federal court for a hearing on his fraud…
Exclusive: Venezuela skirts U.S. sanctions by funneling oil sales via Russia
MEXICO CITY (Reuters) – President Nicolas Maduro is funneling cashflow from Venezuelan oil sales through Russian state energy giant Rosneft as he seeks to evade U.S. sanctions designed to oust him from power, according to sources and documents reviewed by Reuters. FILE PHOTO – A view shows a helmet with the logo…
Oil prices inch up on signs of tighter global supply
NEW YORK (Reuters) – Oil futures edged up on Thursday as a drop in crude exports from OPEC’s de facto leader, Saudi Arabia, and a draw in U.S. drilling rigs and oil inventories supported prices. FILE PHOTO: An oil well pump jack is seen at an oil field supply yard near Denver,…
Wisconsin governor says he wants to renegotiate Foxconn contract
(Reuters) – Wisconsin’s governor said on Wednesday he wants to renegotiate the state’s contract with Foxconn Technology Group for investment incentives because the Taiwanese company is not expected to reach its job creation goals for the state. FILE PHOTO: President Donald Trump, along with Terry Gou, founder and chairman of Foxconn, and…
FCC set to block China Mobile bid to provide U.S. services
(Reuters) – Federal Communications Commission chairman Ajit Pai said on Wednesday he opposes China Mobile Ltd’s bid to provide U.S. telecommunications services, citing security risks, and said the commission will vote on whether to deny the company’s application in May. FILE PHOTO: Chairman of the Federal Communications Commission Ajit Pai speaks at…
Tesla holdings slashed by T. Rowe Price funds in latest cuts by investor
FILE PHOTO: The logo of T. Rowe Price Group is pictured at its office in Tokyo, Japan, January 13, 2017. REUTERS/Toru Hanai (Reuters) – T. Rowe Price funds slashed Tesla Inc holdings in the first quarter, data showed on Wednesday, as the institutional investor continued to cut its positions in the electric…
Asian shares off nine-month peak, European PMIs in focus
TOKYO (Reuters) – Asian shares slipped on Thursday after losses on Wall Street but trade was subdued as investors awaited business surveys in Europe and largely stayed on the sidelines ahead of the long Easter weekend holiday. FILE PHOTO: A man looks at an electronic board showing the Nikkei stock index outside…
Explainer: How 5G drove moves by Apple, Qualcomm and Intel
SAN FRANCISCO (Reuters) – Apple Inc and Qualcomm Inc on Tuesday settled an acrimonious two-year legal dispute. Shortly afterward, Intel Corp said it will exit the smartphone modem chip business. FILE PHOTO: Silhouette of mobile user is seen next to a screen projection of Apple logo in this picture illustration taken March…
Amazon to close domestic marketplace business in China: sources
SAN FRANCISCO/SHANGHAI (Reuters) – Amazon.com Inc plans to close its domestic marketplace in China by mid-July, people familiar with the matter told Reuters, focusing efforts on more lucrative businesses selling overseas goods and cloud services in the world’s most populous nation. FILE PHOTO: Amazon.com’s logo is seen at Amazon Japan’s office building…