Category: Business

By Anthony Esposito | MEXICO CITY MEXICO CITY Mexico's states are turning to Asia and beyond as some U.S. companies put investment plans on hold south of the border following President Donald Trump's calls to bring jobs back home.A delegation of three Mexican state leaders, headed by the National Confederation of Governors (Conago), traveled to China this week to meet with

TOKYO Toyota Motor Corp (7203.T) on Thursday said it was recalling a total of about 2.9 million vehicles in Japan, China, Europe and other regions including its Corolla Axio sedan and RAV4 SUV crossover due to potentially faulty airbags.

TOKYO Asian shares edged up to near their highest in two years on Thursday, while the dollar benefited from waning expectations that the European Central Bank was poised to end its easy policy.MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was 0.2 percent higher in early trade, pushing against its loftiest levels since June 2015.Japan's Nikkei stock index .N225 was down 0.2 percent, while Australian shares firmed, helped by gains in oil prices. Strong energy shares had helped

By Se Young Lee and Anjali Athavaley | SEOUL/NEW YORK - SEOUL/NEW YORK - Samsung Electronics Co Ltd (005930.KS) unveiled its Galaxy S8 flagship smartphone as it battles to regain the market leadership it lost to Apple Inc (AAPL.O) after the embarrassing withdrawal of the fire-prone Note 7s.Boasting some of the largest wrap-around screens ever made, the long-awaited S8 is the

By Caroline Valetkevitch | NEW YORK NEW YORK A U.S. stock rally fueled by optimism President Donald Trump will boost the economy may be near its peak, according to a Reuters poll of strategists who forecast U.S. shares will gain less than 3 percent between now and year-end.The run up since the Nov. 8 U.S. election has left the S&P 500

LONDON Britain's financial sector is drawing up proposals on how it could still serve EU clients after Brexit, even as firms begin establishing new operations on the continent to keep access to the European market.Regulatory and banking experts working for the City of London and lobby group TheCityUK are basing their ideas on a 'mutual recognition' system. Under this, the European Union and Britain would broadly accept firms in each other's financial markets because their home regulatory systems apply similar

AMSTERDAM Elliott Advisors, the activist investor with a 3.25 percent stake in Akzo Nobel (AKZO.AS), said on Wednesday other shareholders owning almost a quarter of the Dutch paints and chemicals group want it to enter into talks with spurned U.S. suitor PPG Industries (PPG.N).Akzo has rejected a 24.4 billion-euro ($26.4 billion) takeover offer by PPG and declined to talk to the U.S. company to see if there was scope for a deal, saying it would press ahead with a

TOKYO Toshiba Corp's (6502.T) troubled U.S. nuclear unit Westinghouse intends to file for Chapter 11 protection from creditors, Japan's government said on Wednesday, as the conglomerate seeks to limit losses that have plunged it into crisis. Yoshihide Suga, the government's chief spokesman, told a regular news briefing he was aware that Pittsburgh-based Westinghouse plans a bankruptcy filing. Sources with knowledge of the situation have said that the filing could come as early as Tuesday.Japan's Nikkei business daily reported Toshiba had

SYDNEY Asian shares inched ahead on Wednesday while the dollar and commodities rallied as investors shook off disappointment about U.S. President Donald Trump's failed healthcare bill and focused on an improving outlook for global growth.The cheerful mood did not extend to the pound which was on the skids as the British government sent a letter to Brussels formally starting the country's exit from the European Union.MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS edged up 0.2 percent and back

WASHINGTON The U.S. Commerce Department will remove Chinese telecom equipment maker ZTE Corp (000063.SZ) from a trade blacklist after the company admitted to violating sanctions on Iran, the Commerce Department said in a notice made public on Tuesday,

By Kentaro Hamada and Taro Fuse | TOKYO TOKYO U.S. nuclear developer Westinghouse Electric Co plans to seek bankruptcy protection from creditors on Tuesday as it struggles with losses that have thrown its Japanese parent Toshiba Corp into crisis, people familiar with Toshiba's thinking said.Pittsburgh-based Westinghouse, crippled by cost overruns at two U.S. projects in Georgia and South Carolina, will file

U.S. stocks opened little changed on Tuesday as investors assessed President Donald Trump's first major policy stumble, while awaiting comments from several Federal Reserve policymakers including Fed Chair Janet Yellen. The Dow Jones

DUBAI Amazom.com (AMZN.O) has agreed to acquire Middle East online retailer Souq.com, [IPO-SOUQ.DU], the two companies said in a joint statement on Tuesday. The value of the deal was not disclosed.

HONG KONG Acquisitive Chinese conglomerate HNA Group is in talks to buy a controlling stake in the owner of the publisher of Forbes magazine, two sources with knowledge of the matter told Reuters.Hong Kong-based investor group Integrated Whale Media Investments (IWM), which holds 95 percent of Forbes Media, is also in talks with another Chinese media firm and is scouting for more potential buyers for most or all of its stake, said one of the sources, who declined to be

By Noel Randewich and Rishika Sadam Shares of Snap Inc jumped nearly 5 percent on Monday after several of the Snapchat owner's IPO underwriters handed it badly needed "buy" ratings.Snap's listing on March 1 was the largest by a technology firm in three years but trading has been volatile, with many investors critical of decelerating user growth. Snap has warned it

By Ayesha Rascoe | WASHINGTON WASHINGTON Following the failure of a healthcare bill backed by President Donald Trump, his administration plans to take a lead role in crafting major legislation to cut taxes with an eye toward meeting an August target date, the White House said on Monday.Trump's pledge to cut taxes, including a lowering of the rates paid by corporations,

By Yashaswini Swamynathan U.S. stocks were well off session lows on Monday as investors sought bargains after a rough start on Wall Street following the defeat of President Donald Trump's first major legislative action. Republicans were forced to pull a healthcare bill on Friday after failing to gather the votes needed in Congress to repeal and replace the Affordable Care Act

By John O'Donnell | FRANKFURT FRANKFURT London has seen its standing as a financial center slip as Britain prepares to trigger its departure from the European Union, according to a survey released on Monday, although rival European cities still lag far behind.The Z/Yen global financial centers index (GFCI), which ranks 88 financial centers, still puts London in first place, followed by

LONDON A stronger-than-anticipated economic recovery, the return of inflation and the region's financial sector in a "sweet spot" has spurred Morgan Stanley to lift its earnings forecasts and targets for European benchmark indexes.The U.S. bank now sees earnings per share growth for 2017 coming in at 16 percent for the MSCI Europe with the index rising as much as 8 percent over the next 12 months. For the FTSE 100 .FTSE, the broker sees EPS growth of 24 percent and

By Ron Bousso and Ernest Scheyder | LONDON/HOUSTON LONDON/HOUSTON Royal Dutch Shell Plc (RDSa.L) and Anadarko Petroleum Corp (APC.N) may let a 10-year joint venture in the oil-rich Permian Basin of Texas expire and split their properties, hoping to speed up development, according to a senior Shell executive.The divorce and re-parceling of acreage would let each company drill and develop new

By Jessica Toonkel and Jennifer Ablan U.S. equity index futures fell to a six-week low on Sunday in a sign Wall Street would start the week defensively after Republicans pulled legislation to overhaul the U.S. healthcare system in a stunning setback for President Donald Trump. S&P 500 e-mini futures ESv1 were down over 0.65 percent, shortly after electronic trading resumed

Shares of Viacom Inc (VIAB.O) could rise 40 percent in the next year as the New York-based media company's new CEO Bob Bakish focuses on its Paramount Pictures studio and a handful of its networks to turn the business around, according to Barron's.Viacom, which is controlled by 93 year-old media mogul Sumner Redstone and his daughter Shari Redstone, has been enmeshed in turmoil, which resulted in the resignation of its former CEO Philippe Dauman.

SHANGHAI China Southern Airlines (600029.SS)(1055.HK)(ZNH.N) is negotiating a potential strategic tie-up with American Airlines (AAL.O) that could involve a share issue and other forms of business cooperation, it said on Sunday. A stock exchange filing from China's largest carrier by passenger numbers said the proposed cooperation is subject to

By Vladimir Soldatkin and Rania El Gamal | KUWAIT KUWAIT A joint committee of ministers from OPEC and non-OPEC oil producers has agreed to review whether a global pact to limit supplies should be extended by six months, it said in a statement on Sunday. An earlier draft of the statement said the committee "reports high level of conformity and recommends

By Lucia Mutikani | WASHINGTON WASHINGTON New orders for U.S.-made capital goods unexpectedly fell in February, but a surge in shipments amid demand for machinery and electrical equipment supported expectations for an acceleration in business investment in the first quarter.Manufacturing is recovering from a prolonged slump, driven by the energy sector, bucking a slowdown in the broader economy. The Federal Reserve

By Steve Holland and David Shepardson | WASHINGTON WASHINGTON U.S. President Donald Trump on Friday touted Charter Communications Inc's decision to invest $25 billion in the United States and a plan the company announced before he was elected to hire 20,000 workers over four years.At a White House event with the second-largest U.S. cable company's Chief Executive Thomas Rutledge and Texas

LONDON Britain's biggest retailer Tesco (TSCO.L) is in advanced talks with the Serious Fraud Office (SFO) over a plea deal that would involve it paying a large fine over its 2014 profit overstatement, Sky news said on Saturday.Sky said it had learned that lawyers acting for Tesco are closing in on a deferred prosecution agreement (DPA) following months of discussions with the SFO.

Uber Technologies Inc [UBER.UL] suspended its pilot program for driverless cars on Saturday after a vehicle equipped with the nascent technology crashed on an Arizona roadway, the ride-hailing company and local police said. The accident, the latest involving a self-driving vehicle operated by one of several companies experimenting with autonomous vehicles, caused no serious injuries, Uber said.Even so, the company said it was grounding driverless cars involved in a pilot program in Arizona, Pittsburgh and San Francisco pending the

BEIJING A Chinese court has ruled in favor of Apple in design patent disputes between the Cupertino, California company and a domestic phone-maker, overturning a ban on selling iPhone 6 and iPhone 6 Plus phones in China, Xinhua news agency reported.Last May, a Beijing patent regulator ordered Apple's Chinese subsidiary and a local retailer Zoomflight to stop selling the iPhones after Shenzhen Baili Marketing Services lodged a complaint, claiming that the patent for the design of its mobile phone 100c

By Suzanne Barlyn | NEW YORK NEW YORK American International Group Inc (AIG.N) executives have been meeting with investors and analysts to build confidence in the insurer and its turnaround plan amid uncertainty over a replacement for outgoing Chief Executive Officer Peter Hancock.Chief Financial Officer Sid Sankaran, commercial insurance head Robert Schimek and consumer insurance head Kevin Hogan held one meeting

By Jonathan Stempel | NEW YORK NEW YORK A federal judge on Friday held United Parcel Service Inc (UPS.N) liable for having illegally shipped hundreds of thousands of cartons of untaxed cigarettes in New York, depriving the state and New York City of millions of dollars of taxes.U.S. District Judge Katherine Forrest in Manhattan said the state and city are entitled

By Rodrigo Campos and Chuck Mikolajczak | NEW YORK NEW YORK The death of the Republican healthcare reform may not prove to be the knife to the heart of the bull market some had feared, but to keep the Trump Trade alive investors should temper expectations for the breadth of expected tax cuts.Anxiety over prospects for the healthcare bill gave stocks

Tesla Motors Inc (TSLA.O) will start taking orders for its solar roof tiles in April, Chief Executive Elon Musk said in a Tweet on Friday.The solar-powered roof shingles were unveiled in October last year to show the benefits of combining his electric car maker with solar installer SolarCity Corp SCTY.O.

By Jeff Mason and Ethan Lou | WASHINGTON/CALGARY WASHINGTON/CALGARY U.S. President Donald Trump's administration approved TransCanada Corp's Keystone XL pipeline on Friday, cheering the oil industry and angering environmentalists even as further hurdles for the controversial project loom.The approval reverses a decision by former President Barack Obama to reject the project, but the company still needs to win financing, acquire local