(Reuters) – Wall Street slid 1 percent on Monday, led by healthcare stocks after a federal ruling that Obamacare was unconstitutional, with the decline in the market-leading sector further unnerving investors already concerned about slowing global growth. Traders work on the floor of the New York Stock Exchange (NYSE) in New York,…
Tag: News
Burnout, stress lead more companies to try a four-day work week
BERLIN (Reuters) – Work four days a week, but get paid for five? It sounds too good to be true, but companies around the world that have cut their work week have found that it leads to higher productivity, more motivated staff and less burnout. “It is much healthier and we do…
Google to spend $1 billion on new campus in New York
(Reuters) – Alphabet Inc’s (GOOGL.O) Google is investing more than $1 billion on a new campus in New York, becoming the second major technology company after Amazon to pick America’s financial capital to expand and create thousands of jobs. The 1.7 million square-foot campus, called Google Hudson Square, will include leased properties…
Boeing boosts value for Embraer’s commercial business to $5.26 billion
FILE PHOTO: The logo of Brazilian planemaker Embraer SA is seen at the company’s headquarters in Sao Jose dos Campos, Brazil February 28, 2018. REUTERS/Roosevelt Cassio/File Photo SAO PAULO (Reuters) – Brazil’s Embraer SA said on Monday it has finalized terms of a proposed deal to sell 80 percent of its commercial…
German union calls strike at Amazon warehouses
An Amazon sign is seen during strike action at an Amazon logistics centre in Werne, Germany, December 17, 2018. REUTERS/Leon Kuegeler DUESSELDORF, Germany (Reuters) – German trade union Verdi called on workers at two Amazon (AMZN.O) logistic centers to strike on Monday, part of a long-running campaign for better pay and conditions.…
ABB to sell Power Grids to Hitachi, revamp business structure
ZURICH (Reuters) – ABB (ABBN.S) reached a deal with Japan’s Hitachi (6501.T) to sell its Power Grids division, with the Swiss engineering group adding it plans to return net cash proceeds of $7.6-7.8 billion from selling the 80.1 percent stake in the unit to shareholders. The Zurich-based company, which will initially retain…
China, EU lambast United States for miring WTO in crisis
GENEVA (Reuters) – The United States came under fire from China and the European Union on Monday, accused by both major trading partners of taking protectionist measures and bringing the World Trade Organization (WTO) to its knees. FILE PHOTO: Workers paint the ground at a port in Qingdao, Shandong province, China April…
China says U.S. has brought back ‘the ghost of unilateralism’ to WTO
GENEVA (Reuters) – China said on Monday that the Trump administration’s trade measures on items from steel to intellectual property taken under the guise national security were “bringing back to life the ghost of unilateralism”. Chinese ambassador Zhang Xiangchen, addressing the World Trade Organization (WTO) after U.S. envoy Dennis Shea slammed Beijing’s…
Oil rallies but oversupply, economic growth weigh
LONDON (Reuters) – Oil prices rose on Monday after a key Middle East oil minister suggested the market was rebalancing, but investor sentiment remained under pressure from oversupply and concern over the prospects for global economic growth and fuel demand. A gas station worker pumps fuel into a motorbike at a gas…
Malaysia charges Goldman Sachs, ex-bankers in 1MDB probe
KUALA LUMPUR (Reuters) – Malaysia on Monday filed criminal charges against Goldman Sachs and two of the U.S. bank’s former employees in connection with an investigation into suspected corruption and money laundering at state fund 1MDB. Malaysia will seek jail terms as well as billions in fines from Goldman Sachs and four…
2018: The year volatility came home to roost
NEW YORK (Reuters) – U.S. stocks are down only slightly for 2018, but that masks a volatile year for investors. Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., February 16, 2018. REUTERS/Lucas Jackson Trade-related tensions between the United States and…
Wall Street looks to Fed outlook Wednesday for early Christmas gift
NEW YORK (Reuters) – Investors are eager for a touch of Christmas cheer from the U.S. Federal Reserve next week, hoping for signs the central bank may ease up on interest rate hikes next year and spark a Santa Claus rally. FILE PHOTO: A Wall Street sign is seen outside the New…
Indonesia, EFTA sign long delayed free trade deal
JAKARTA (Reuters) – Indonesia on Sunday signed an economic agreement with the European Free Trade Association (EFTA) aimed at increasing trade and investment, concluding almost eight years of negotiations. Under the deal, tariffs and non-tariff barriers would be eliminated for thousands of products traded between Indonesia and the EFTA countries – Switzerland,…
Germany plans to lower threshold for probes of foreign takeovers: Handelsblatt
A general view shows the skyline of Potsdamer Platz square and the Leipziger Strasse street in Berlin, Germany, November 6, 2018. REUTERS/Fabrizio Bensch BERLIN (Reuters) – Berlin plans to cut to 10 percent the threshold at which it can launch national security probes of stake purchases by non-European companies in German firms,…
Qatar Petroleum to invest $20 billion in U.S. in major expansion
DOHA (Reuters) – Qatar Petroleum (QP) is looking to invest at least $20 billion in the United States over the coming few years, its chief executive told Reuters, after the Gulf Arab state unexpectedly quit OPEC this month. Cars are parked outside the headquartes of Qatar Petroleum in Doha, Qatar, July 8,…
Nord Stream 2 can be justified if Ukraine’s interests safeguarded
BERLIN (Reuters) – Germany’s economy minister said he believed the Russian-backed Nord Stream 2 pipeline can go ahead while preserving Ukraine’s vital interests, but that Berlin is also in talks to diversify its energy supply with liquefied natural gas. German Economy Minister Peter Altmaier pauses during an interview in his office in…
Motiva preliminarily picked to run Curacao refinery: report
(Reuters) – Motiva Enterprises has preliminarily been chosen by the government of Curacao to operate the 335,000-barrel-per-day Isla refinery, replacing Venezuela’s state-run PDVSA, local media said on Saturday. FILE PHOTO – A general view shows the Isla refinery in Willemstad on the island of Curacao, April 22, 2018. REUTERS/Andres Martinez Casares The…
Ten years on, Fed’s long, strange, trip to zero redefined central banking
WASHINGTON (Reuters) – ZIRP. ZLB. ELB. A jogger runs past the Federal Reserve building in Washington, DC, U.S., August 22, 2018. REUTERS/Chris Wattie Whatever the acronym, when the U.S. Federal Reserve dropped its policy rate to near zero on Dec. 16, 2008, to counter a full-scale economic crisis, it ushered in what…
OPEC has shown it can reach deal despite splits: Iran oil minister
The logo of the Organisation of the Petroleum Exporting Countries (OPEC) is seen at OPEC’s headquarters in Vienna, Austria December 5, 2018. REUTERS/Leonhard Foeger DUBAI (Reuters) – Iranian Oil Minister Bijan Zanganeh praised OPEC on Saturday for what he said was the producer group’s ability to reach agreement despite intense internal political…
Will landing be soft or “chaotic” as Fed begins to stop rate hike cycle
WASHINGTON/SAN FRANCISCO (Reuters) – In June 2006, the U.S. Federal Reserve raised interest rates for a 17th consecutive time but cushioned the increase with a strong signal that officials were ready to stop the tightening cycle. FILE PHOTO: FILE PHOTO: A cyclist passes the Federal Reserve building in Washington, DC, U.S., August…