FILE PHOTO: The Ford logo is seen on a vehicle at the New York Auto Show in the Manhattan borough of New York City, New York, U.S., March 29, 2018. REUTERS/Shannon Stapleton/File Photo NEW YORK (Reuters) – An Alabama jury awarded $151.8 million to a young man paralyzed in 2015 rollover accident…
Tag: News
Qatar’s real estate market faces reality check ahead of World Cup
DOHA/DUBAI (Reuters) – Qatar’s Doha Tower, a spike-tipped cylinder that glows orange at night, won an award when finished in 2012 amid a Gulf-wide real estate boom, but today about half of its 46 floors are empty. Towers under construction are seen in Doha, Qatar February 5, 2019. Picture taken February 5,…
Nissan panel to recommend outside director to chair board: Nikkei
People walk past a dealer shop of Nissan Motor Co. in Tokyo, Japan, February 12, 2019. REUTERS/Kim Kyung-hoon TOKYO (Reuters) – A Nissan Motor governance committee will recommend the appointment of an external director as board chairman, a role distinct from company chairman, in a move to decentralize power at the top…
Analyst View: Investors divided over Mexico’s bailout of state oil company
MEXICO CITY (Reuters) – The Mexican government promised on Friday to do what it takes to strengthen the finances of ailing state oil company Petroleos Mexicanos with an injection of at least $3.6 billion to prevent a further credit downgrade. FILE PHOTO: Clients get fuel at a gas station of state-owned company…
Airbus warns of no-deal Brexit, says has spent tens of millions preparing
Airbus’ new BelugaXL super-transporter aircraft arriving for the first time at the company’s wing assembly plant at Broughton, near Chester, Britain, February 14, 2019. REUTERS/Peter Powell LONDON (Reuters) – Airbus said on Sunday it would have to make “difficult decisions” about future investment if Britain crashes out of the European Union without…
Qatar aims to build $20 billion sports sector ahead of World Cup
DOHA (Reuters) – Qatar wants to attract more sports companies to the Gulf state, aiming to develop a $20 billion sports sector ahead of the 2022 World Cup, a senior official said on Sunday. FILE PHOTO – A view of the beIN Sports studio that will be hosting the 2022 FIFA World…
Russia’s Gazprombank freezes accounts of Venezuela’s PDVSA: source
MOSCOW (Reuters) – Russian lender Gazprombank has decided to freeze the accounts of Venezuelan state oil company PDVSA and halted transactions with the firm to reduce the risk of the bank falling under U.S. sanctions, a Gazprombank source told Reuters on Sunday. FILE PHOTO: Cutouts depicting images of oil operations are seen…
Russian court extends custody of Baring Vostok’s Calvey until April
MOSCOW (Reuters) – A Russian court on Saturday ordered Michael Calvey, the U.S. founder of one of Russia’s biggest private equity firms accused of fraud, to be kept in custody until April 13. Founder of the Baring Vostok private equity group Michael Calvey, who was detained on suspicion of fraud, looks out…
China-U.S. trade talks ‘making a final sprint’: state media
SHANGHAI (Reuters) – Chinese state media on Saturday expressed cautious optimism over trade talks between the United States and China, a day after President Xi Jinping said a week of discussions had produced “step-by-step” progress. Aides set up platforms before a group photo with members of U.S. and Chinese trade negotiation delegations…
Automakers brace for U.S. government report on import tariffs
WASHINGTON (Reuters) – A confidential Commerce Department report due to be sent to Donald Trump on Sunday is widely expected to clear the way for the U.S. president to threaten tariffs on imported autos and auto parts by designating the imports a national security threat, auto industry officials said on Friday. FILE…
HNA cuts stake in Deutsche Bank to 6.3 percent: SEC filing
FRANKFURT (Reuters) – Chinese conglomerate HNA has cut its stake in Deutsche Bank to 6.3 percent, according to a filing with the U.S. Securities and Exchange Commission. FILE PHOTO: The financial district with the headquarters of Germany’s largest business bank, Deutsche Bank , is photographed on early evening in Frankfurt, Germany, January…
Russian court orders Baring Vostok’s Calvey to be kept in custody until April 13
MOSCOW (Reuters) – A Moscow court has ordered Baring Vostok’s founder Michael Calvey to be kept in custody until April 13. The Basmanny court’s judge, Artur Karpov, said on Saturday that Calvey, a U.S. citizen, was accused of a “serious crime” and could try to flee. Reporting by Maxim Rodionov; Writing by…
Canada’s Freeland pushes end of steel, aluminum tariffs in meeting with Pelosi
FILE PHOTO – Canada’s Minister of Foreign Affairs Chrystia Freeland attends the annual Munich Security Conference in Munich, Germany February 15, 2019. REUTERS/Andreas Gebert OTTAWA (Reuters) – Canadian Foreign Minister Chrystia Freeland said on Saturday she had made clear in a meeting with U.S. House of Representatives Speaker Nancy Pelosi at the…
Payless ShoeSource to start liquidation sales at stores
FILE PHOTO: A Payless ShoeSource store logo is pictured in the Manhattan borough of New York, New York, U.S. April 4, 2017. REUTERS/Carlo Allegri/File Photo (Reuters) – U.S. discount retailer Payless ShoeSource Inc said on Friday it would begin going-out-of-business sales at its U.S. and Puerto Rico stores on Feb. 17 and…
Mexico to inject $3.9 billion in Pemex, seeks to prevent credit downgrade
MEXICO CITY (Reuters) – Mexico will inject $3.9 billion into ailing state oil company Pemex, officials said on Friday, promising to strengthen its finances and prevent a further credit downgrade, although investors saw the plan as only a short-term fix. FILE PHOTO: A digital LED price sign of state-owned company Petroleos Mexicanos…
Starboard gauges Bristol-Myers shareholder support for Celgene deal
(Reuters) – Activist hedge fund Starboard Value LP has asked a proxy solicitor to probe the level of support among Bristol-Myers Squibb Co shareholders for the U.S. drug maker’s $74 billion deal to buy Celgene Corp, people familiar with the matter said on Friday. FILE PHOTO: Jeff Smith, CEO and chief investment…
Famed Cullinan mine banks on big diamonds to drive down debt
CULLINAN, South Africa (Reuters) – The owner of one of the world’s most famous diamond mines could be about a decade away from clearing its multi-million-dollar debts, in a sign of the struggles facing an industry assailed by synthetic rivals and uncertain demand. Mine workers are seen under ground at Cullinan mine,…
Alphabet unit seeks share of property taxes for Toronto smart city
TORONTO (Reuters) – Alphabet Inc’s Sidewalk Labs unit is proposing it get a share of property taxes, development fees, and the rising value of Toronto city land as part of a deal to build a smart city, according to the company’s slide presentation made public on Friday. Waterfront buildings, part of a…
Mexico to inject $3.6 billion in Pemex, seeks to prevent credit downgrade
MEXICO CITY (Reuters) – Mexico will inject $3.6 billion into ailing state oil company Pemex, officials said on Friday, promising to strengthen its finances and prevent a further credit downgrade, although investors saw the plan as only a short-term fix. FILE PHOTO: A digital LED price sign of state-owned company Petroleos Mexicanos…
Big U.S. exchanges to sue SEC over ‘overreaching’ fee experiment
NEW YORK (Reuters) – The three largest U.S. stock exchange operators said they will sue the Securities and Exchange Commission for overstepping its authority by ordering a pilot program to test banning lucrative payments exchanges make to brokers for resting stock orders. FILE PHOTO: The seal of the U.S. Securities and Exchange…