NEW YORK/SAN FRANCISCO, (Reuters) – Uber Technologies Inc has filed paperwork for an initial public offering, according to three people with knowledge of the matter, taking a step closer to a key milestone for one of the most closely watched and controversial companies in Silicon Valley. FILE PHOTO: The Uber application is…
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China calls on Canada to free Huawei CFO or face consequences
BEIJING (Reuters) – China warned Canada on Saturday that there would be severe consequences if it did not immediately release Huawei Technologies Co Ltd’s [HWT.UL] chief financial officer, calling the case “extremely nasty”. FILE PHOTO: Meng Wanzhou, Executive Board Director of the Chinese technology giant Huawei, attends a session of the VTB…
U.S. accuses Huawei CFO of Iran sanctions cover-up; hearing adjourned
VANCOUVER/LONDON (Reuters) – Huawei Technologies Co Ltd’s chief financial officer faces U.S. accusations that she covered up her company’s links to a firm that tried to sell equipment to Iran despite sanctions, a Canadian prosecutor said on Friday, arguing against giving her bail while she awaits extradition. The case against Meng Wanzhou,…
Explainer: How does extradition to the U.S. work?
(Reuters) – The arrest in Canada of a top Chinese technology executive for possible extradition to the United States has roiled markets and cast doubt on a recent U.S.-China trade truce. FILE PHOTO – Meng Wanzhou, Executive Board Director of the Chinese technology giant Huawei, attends a session of the VTB Capital…
Trump: ‘China talks are going very well’
U.S. President Donald Trump speaks at a Hanukkah reception as Vice President Mike Pence looks on in the East Room of the White House in Washington, U.S. December 6, 2018. REUTERS/Jonathan Ernst WASHINGTON (Reuters) – U.S. President Donald Trump on Friday sounded an optimistic note about negotiations with China on trade issues,…
Huawei CFO to appear in Canada court as Chinese media slam arrest
VANCOUVER/TORONTO (Reuters) – A top executive of China’s Huawei Technologies Co Ltd who is under arrest in Canada is set to appear in a Vancouver court on Friday for a bail hearing as she awaits possible extradition to the United States. Huawei CFO Meng Wanzhou, 46, who is also the daughter of…
Wall St. dips at open after jobs data
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 6, 2018. REUTERS/Brendan McDermid (Reuters) – U.S. stocks pulled back from steeper losses in futures trading to open slightly lower on Friday after a U.S. jobs report that was tepid enough to lower bets for…
Sleeping bags and mini golf as traders brace for Brexit all-nighter
LONDON (Reuters) – As lawmakers gather in Britain’s parliament on Tuesday to vote on the future of the country’s relationship with Europe, traders in London’s financial hub will be bracing for a potential burst of market turmoil that could affect the Brexit process itself. Traders work on the trading floor of Barclays…
Exclusive: Amazon targets airports for checkout-free store expansion
(Reuters) – Amazon.com Inc (AMZN.O) is looking at bringing its futuristic checkout-free store format to airports in an effort to win business from hungry, time-pressed travelers, according to public records and a person familiar with the strategy. The move underscores how a company that started as an online bookseller is making forays…
U.S. job growth cools in November, monthly wage gains modest
WASHINGTON (Reuters) – U.S. job growth slowed in November and monthly wages increased less than expected, suggesting some moderation in economic activity that could support expectations of fewer interest rate increases from the Federal Reserve in 2019. FILE PHOTO – Job seekers line up at a job fair of an oil services…
Instant View: U.S. November payrolls lower than expected
(Reuters) – U.S. job growth slowed in November and monthly wages increased less than expected, suggesting some moderation in economic activity that could support expectations of fewer interest rate increases from the Federal Reserve in 2019. KEY POINTS: * Total payrolls rose 155,000 vs 200,000 estimate and downwardly revised 237,000 prior (original…
Oil surges 5 percent as OPEC agrees output cut
LONDON (Reuters) – Oil prices jumped more than 5 percent on Friday as big Middle East producers in OPEC agreed to reduce output to drain global fuel inventories and support the market. A pumpjack is seen at sunset outside Scheibenhard, near Strasbourg, France, October 6, 2017. REUTERS/Christian Hartmann Benchmark Brent crude oil…
Iran agrees to OPEC oil cut, focus shifts back to Russia
VIENNA (Reuters) – Iran gave OPEC the green light on Friday to reduce oil output by around 0.8 million barrels per day from 2019 after finding a compromise with rival Saudi Arabia over a possible exemption from the cuts, an OPEC source said. Tehran has emerged as a key sticking point for…
Europe should be afraid of Huawei, EU tech official says
BRUSSELS (Reuters) – The European Union should be worried about Huawei [HWT.UL] and other Chinese technology companies because of the risk they pose to the bloc’s industry and security, the EU’s technology commissioner said on Friday. European Commission Vice-President Andrus Ansip attends the GovTech Summit at Paris city hall, France, November 12,…
What is China’s Huawei Technologies and why is it controversial?
(Reuters) – The arrest in Canada of Meng Wanzhou, a top executive at China’s Huawei Technologies Co Ltd and daughter of the founder and CEO, jolted the global business community on Thursday and raised fears that a truce in the U.S.-China trade war could come to a swift end. A man walks…
Top Huawei executive arrested on U.S. request, clouding China trade truce
VANCOUVER/BEIJING (Reuters) – The daughter of Huawei’s founder, a top executive at the Chinese technology giant, was arrested in Canada and faces extradition to the United States, roiling global stock markets as it threatened to inflame Sino-U.S. trade tensions afresh. The shock arrest of Meng Wanzhou, 46, who is Huawei Technologies Co…
Wall Street opens lower as Huawei executive arrest fans trade worries
A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., December 4, 2018. REUTERS/Brendan McDermid (Reuters) – U.S. stocks tumbled at open on Thursday, as the arrest of a top executive of Chinese tech giant Huawei for extradition to the United States…
Sears Chairman Lampert offers to buy bankrupt retailer
FILE PHOTO: The Sears logo is seen outside a store in Brooklyn, New York, U.S., October 10, 2018. REUTERS/Shannon Stapleton/File Photo (Reuters) – Sears Holdings Corp (SHLDQ.PK) Chairman Eddie Lampert’s ESL Partners LP has submitted a $4.6 billion bid to buy the bankrupt retailer, the hedge fund said on Thursday. Sears, which…