BERLIN (Reuters) – Audi (NSUG.DE) Chairman Matthias Mueller appealed to workers to ignore a media report that Chief Executive Rupert Stadler was about to be ousted, hoping to quell another outbreak of unrest at the diesel scandal-hit Volkswagen group. German tabloid Bild reported on its front page on Friday that Stadler would…
Exclusive: Walmart in talks to buy more than 40 percent of India’s Flipkart – sources
MUMBAI (Reuters) – Walmart Inc (WMT.N) is in talks to purchase a stake of more than 40 percent in Indian e-commerce firm Flipkart, a direct challenge to Amazon.com Inc (AMZN.O) in Asia’s third-largest economy, two sources familiar with the matter said on Friday. In what would be one of its biggest overseas…
Lost in translation? GM plant shutdown shocks South Korea
SEOUL (Reuters) – Only weeks into a new job heading General Motors Co’s international operations, Barry Engle flew into a frigid South Korea in January and held a series of meetings with government officials to discuss the future of GM’s loss-making local unit. In what they thought were meet-and-greet introductions, senior officials…
As mining investors push caution, Glencore differs from rivals
TORONTO/MELBOURNE (Reuters) – As shareholders push the world’s cash-rich miners to maintain lush dividends and make the most of existing assets, Glencore is taking a slightly different tactic that positions it for shrewd acquisitions. Like other big rivals, Glencore is expected to lift its dividend payout when it reports results next week,…
World shares set for best week since 2011, dollar hits lowest since 2014
LONDON (Reuters) – World shares were set to post their best week of gains in six years on Friday after two consecutive weeks spent in the red, shrugging off a rise in global borrowing costs while the dollar hit its lowest level since 2014. The MSCI world index of stocks, which tracks…
Hackers stole $6 million from Russian bank via SWIFT system: central bank
MAGNITOGORSK, Russia (Reuters) – Unknown hackers stole 339.5 million roubles ($6 million) from a Russian bank last year in an attack using the SWIFT international payments messaging system, the Russian central bank said on Friday. The disclosure, buried at the bottom of a central bank report on digital thefts in the Russian…
Roche to buy Flatiron Health for $1.9 billion to expand cancer care portfolio
(Reuters) – Swiss drugmaker Roche Holding AG (ROG.S) said on Thursday it would buy the rest of U.S. cancer data company Flatiron Health for $1.9 billion to speed development of cancer medicines and support its efforts to price them based on how well they work. Privately held Flatiron, backed by Alphabet Inc…
World stocks steam higher as inflation fears suddenly fizzle
LONDON (Reuters) – Stocks, bond yields and commodities steamed higher on Thursday while the dollar tumbled, as investors suddenly seemed to forget the inflation fears blamed for a brutal market sell-off in recent weeks. Economists were struggling to explain the turnaround except for the argument that historically it’s not unusual for stocks…
Britain’s Burberry pairs up with Farfetch in online push
PARIS (Reuters) – Burberry (BRBY.L) will team up with online retailer Farfetch to make all of its products available to internet shoppers in 150 countries, the British fashion company said on Thursday. Luxury groups from Louis Vuitton owner LVMH LMVH.PA to Gucci parent Kering (PRTP.PA) are putting more resources into e-commerce as…
Berkshire buys Teva, feels IBM blues as Apple becomes top investment
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Wednesday disclosed a new stake in generic drugmaker Teva Pharmaceutical Industries Ltd (TEVA.TA) and said it bought more shares of Apple Inc (AAPL.O), which surpassed Wells Fargo & Co (WFC.N) as its largest common stock investment. Berkshire also nearly completed its yearlong exit…
Amazon says to create 2,000 jobs in France in 2018
PARIS (Reuters) – U.S. online retail giant Amazon said on Thursday it will create 2,000 permanent contract positions this year in France, its largest market in Europe after Britain and Germany. The increase will bring Amazon’s total number of permanent French staff to 7,500 in 2018 and reflects confidence in the economy…
Google’s app network quietly becomes huge growth engine
SAN FRANCISCO (Reuters) – Google makes ads show up in more smartphone apps than any other technology company. That is the core of a resurgent business for parent Alphabet Inc. Google’s ad network unit has posted three straight quarters of year-over-year double-digit sales increases. The business is nearing $20 billion in annual…
U.S. ITC details why it rejected CSeries duties, says Boeing not hurt
MONTREAL/WASHINGTON (Reuters) – An independent U.S. trade body on Wednesday said it rejected hefty U.S. duties on Bombardier’s CSeries jets partly because Boeing lost no sales or revenue when Delta Air Lines ordered the aircraft in 2016 from the Canadian planemaker. The International Trade Commission published its reasoning three weeks after announcing…
China’s ZTE says is trusted partner after U.S. concern
BEIJING (Reuters) – Chinese telecoms equipment group ZTE Corp hit back on Thursday against concerns from U.S. lawmakers that it is a vehicle for Chinese espionage, saying it was a trusted partner of its U.S. customers, state news agency Xinhua reported. China is trying to gain access to sensitive U.S. technologies and…
Qualcomm meets Broadcom to discuss $121 billion acquisition offer
(Reuters) – Qualcomm Inc said on Wednesday it met with Broadcom Ltd earlier in the day to discuss the latter’s revised $121 billion bid, the first time the chipmakers have discussed what would be the technology sector’s largest ever acquisition. The outcome of the meeting will determine whether Qualcomm, which has resisted…
A year into OPEC’s production cuts, Asia’s oil markets have tightened
SINGAPORE (Reuters) – Just over a year into production cuts lead by OPEC and Russia, oil markets in Asia have tightened noticeably as significant amounts of excess crude have been taken off tankers used for storage and delivered to customers across the region. Shipping data shows about 15 super-tankers are currently filled…
Electric airplane start-up Eviation aims to enter service in 2021 after battery deal
SINGAPORE (Reuters) – Electric airplane start-up Eviation Aircraft Ltd is aiming for its 9-seat commuter aircraft to be flying passengers by 2021 after signing up South Korea’s Kokam as its battery supplier, the Israeli company’s chief executive said on Thursday. Venture capital-backed Eviation is one of a number of companies looking to…
Toshiba names ex-banker as CEO, seen tackling opposition to chip unit sale
TOKYO (Reuters) – Toshiba Corp appointed a former banker experienced in dealing with distressed companies as CEO, and forecast its first annual profit in four years, helped by a buoyant chip business that it has agreed to sell. Incoming CEO Nobuaki Kurumatani, 60, will be tasked with ensuring the smooth sale of…
Broadcom scales back Qualcomm board challenge to simple majority
(Reuters) – Broadcom Ltd (AVGO.O) cut the number of board seats it was trying to win at Qualcomm Inc (QCOM.O) to six from 11 on Tuesday, saying this would let Qualcomm shareholders push the U.S. chip maker toward a sale while ensuring continuity. The move came following Singapore-based Broadcom’s meeting with proxy…
U.S. inflation test looms large, dollar falls
LONDON (Reuters) – The dollar slid to a 15-month low against the yen on Wednesday, while world stock markets found firmer ground ahead of U.S. inflation numbers that could soothe, or inflame, fears of faster interest-rate hikes globally. European stock markets opened the day higher, with blue-chip indexes in London .FTSE, Paris…