Reuters: Business News

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Volkswagen's Porsche drops diesel in electric car push

19 min ago

Volkswagen's Porsche will stop offering diesel versions of its cars, the unit said on Sunday, sharpening its focus on hybrid and battery-powered vehicles instead.

Fed's Powell between a rock and hard place: Ignore the yield curve or tight job market?

41 min ago

Unemployment near a 20-year low screams at the U.S. Federal Reserve to raise interest rates or risk a too-hot economy. The bond market, not far from a state that typically precedes a recession, says not so fast.

Siemens nears multi-billion euro deal in Iraq: Handelsblatt

1 hour ago

German engineering group Siemens is working on a deal worth up to 9 billion euros ($10.6 billion) to supply energy generation technology to Iraq, business daily Handelsblatt reported, citing government and industry sources.

In Nigeria, Shell’s onshore roots still run deep

4 hours ago

Royal Dutch Shell wants to reweight its footprint in Nigeria to focus on oil and gas fields far offshore, away from the theft, spills, corruption and unrest that have plagued the West African country's onshore industry for decades.

Timeline: Shell's operations in Nigeria

4 hours ago

Royal Dutch Shell pioneered Nigeria's oil and gas industry and remains a major investor in the West African country. But over the decades it has come under fire over spills in the Delta region and struggles with oil theft, corruption and oil-fueled violence.

Asian firms shuffle production around the region as China tariffs hit

7 hours ago

A growing number of Asian manufacturers of products ranging from memory chips to machines tools are moving to shift production from China to other factories in the region in the wake of U.S. President Donald Trump's tariffs on Chinese imports.

AstraZeneca CEO warns of medicine shortages after Brexit: Sunday Times

8 hours ago

Britain could see widespread medicine shortages if there is no deal to prevent friction at the border with the European Union after Brexit, the AstraZeneca chief executive told the Sunday Times.

Comcast outbids Fox with $40 billion winning offer for Sky

9 hours ago

Comcast beat Rupert Murdoch's Twenty-First Century Fox in the battle for Sky on Saturday after offering 30.6 billion pounds ($40 billion) in a dramatic auction to decide the fate of the pay-television group.

Fox plans to concede defeat in Sky battle, review stake: source

18 hours ago

Rupert Murdoch's Twenty-First Century Fox expects Sky's independent directors to recommend Comcast's $39 billion bid, after which Fox will concede defeat in the battle for the British broadcaster, a source with knowledge of the matter told Reuters.

U.S. airlines score win as Congress drops 'reasonable fee' rules

23 hours ago

The U.S. airline industry scored a win on Saturday as bipartisan congressional legislation dropped plans to mandate "reasonable and proportional" baggage and change fees, but included other new passenger protections.

BT approaches Worldpay's Philip Jansen to be new CEO: Sky News

3 hours ago

BT Group is in advanced talks to appoint payment technology provider Worldpay's outgoing co-chief executive Philip Jansen as its new CEO, Sky News reported on Saturday.

Volume spikes on sector reshuffle, quadruple witching

4 hours ago

An overhaul of Wall Street's technology and media sectors coincided with the quarterly expiration of futures and options, bringing a burst of volume to trading late on Friday that could continue in the days that follow.

White House optimistic on China trade; no date for more talks

5 hours ago

The United States is optimistic about finding a way forward in its trade dispute with China, but it does not have a date scheduled for further talks as it assesses Beijing's response to the latest round of tariffs, a senior White House official said on Friday.

China cancels trade talks with U.S. as tariff threats escalate: WSJ

yesterday

China has canceled upcoming trade talks with the United States and will not send vice-premier Liu He to Washington next week, the Wall Street Journal reported, citing sources.

Adviser says U.S. close to Mexico-only NAFTA deal, Canada unmoved

yesterday

The United States is getting "very, very close" to having to move forward on its trade deal with Mexico without Canada, White House economic adviser Kevin Hassett said on Friday.

Mexico will seek deal with Canada if NAFTA talks fail: Lopez Obrador

yesterday

Mexico's incoming government will pursue a bilateral deal with Canada if talks to overhaul the North American Free Trade Agreement falter, Mexican president-elect Andres Manuel Lopez Obrador said on Friday.

Caterpillar leans on old playbook to cope with Trump tariffs

yesterday

Six months into the U.S. tariffs on imported aluminum and steel, Caterpillar Inc is finding that one of the best ways it can protect profits is a cost cutting strategy that is more than two years old.

United Airlines pilots resist contract changes over regional routes

yesterday

United Airlines pilots said they refuse to budge on the wording of their contract governing the outsourcing of regional flights.

Dow hits new closing high ahead of index reshuffle

yesterday

Industrials led the Dow to a new closing high on Friday ahead of Monday's major sector reshuffle, capping a week that largely shrugged off trade worries.

Lehman Brothers workers share memories 10 years after the fall

yesterday

Ex-employees of Lehman Brothers Holdings Inc met at Irish pubs near their former office in Midtown Manhattan on Thursday night to reminisce 10 years after the bank's collapse, in gatherings with the atmosphere of high school reunions despite marking the largest failure of the financial crisis.