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Dollar recoups losses, shares lower as banks weigh
By Vikram Subhedar LONDON (Reuters) – The dollar extended its recovery against a basket of other currencies on Friday, while banks dragged European shares slightly lower following underwhelming results from Swiss major UBS. The two-day recovery comes after the dollar suffered a 4 percent drop in the three weeks from Jan. 3 reflecting doubts about how U.S. President Donald Trump's policies... [Read more]
BlackRock jilts State Street, moves $1 trillion in custody assets to JPMorgan
State Street Corp on Wednesday reported a 3.4 percent drop in fourth-quarter revenue and said it lost more than $1 trillion in custody assets to JPMorgan Chase & Co Inc , sending State Street stock tumbling as much as 7.5 percent. State Street is the world's No. 2 custody bank with $28.8 trillion in assets under custody and administration. Read the original post: BlackRock jilts State Street,... [Read more]
Cisco to buy AppDynamics for $3.7 billion in growth push
By Liana B. Baker and Heather Somerville SAN FRANCISCO (Reuters) – Cisco Systems Inc said on Tuesday that it agreed to buy U.S. business software company AppDynamics Inc for about $3.7 billion, making one of its largest deals of recent years as it searches for growth beyond its core networking business. Legacy technology players like Cisco have been… See the original post here: Cisco to... [Read more]
Samsung Electronics warns of political risks as chips boost Q4 profit
Samsung Electronics Co Ltd on Tuesday said it expects profit growth in 2017 despite challenges arising from political uncertainty, after record chip earnings glossed over the Note 7 smartphone fiasco in the fourth quarter. The South Korean tech giant and Apple Inc rival … Original post: Samsung Electronics warns of political risks as chips boost Q4 profit Read More →
Foxconn CEO says investment for display plant in U.S. would exceed $7 billion
Foxconn, the world's largest contract electronics maker, is considering setting up a display-making plant in the United States in an investment that would exceed $7 billion, company chairman and chief executive Terry … Read the original post: Foxconn CEO says investment for display plant in U.S. would exceed $7 billion Read More →
China says can resolve trade disputes with new U.S. government
China and the United States can resolve any trade disputes through talks, the government said on Thursday, as a Chinese newspaper warned U.S. business could be targets for retaliation in any trade war ushered in by President-elect Donald Trump. Trump, who is sworn into office on Friday, has criticised China's trade practices and threatened to impose punitive tariffs on Chinese imports… Original... [Read more]
Samsung chief questioned behind closed doors in arrest warrant hearing
A South Korean judge questioned Samsung Group leader Jay Y. Lee behind closed doors on Wednesday to decide whether he should be arrested over his alleged role in a corruption scandal that led parliament to impeach President Park Geun-hye. Lee, 48, in dark overcoat and purple necktie, did … Read the original: Samsung chief questioned behind closed doors in arrest warrant hearing Read More →
Businesses can unlock $12 trillion via key development goals: Davos study
Companies could unlock at least $12 trillion in market opportunities by 2030 and create up to 380 million jobs by implementing a few key development goals, according to a study by a group including global business and finance leaders. Here is the original post: Businesses can unlock $12 trillion via key development goals: Davos study Read More →
Allianz’s El-Erian says strong U.S. dollar biggest risk in 2017
Global growth could be better than expected in 2017, though many uncertainties remain that could impact expansion, with the biggest of them being steep gains in the U.S. currency, Allianz's Mohamed A. El-Erian said on Monday. The outlook for the global economy in 2017 will be similar to that for 2016, but with an upside risk, with the world expanding below 3 percent and the U.S. economy outperforming... [Read more]
Luxottica and Essilor agree 46 billion euro merger to create eyewear giant
By Valentina Za and Sudip Kar-Gupta MILAN/PARIS (Reuters) – Italy's Luxottica and France's Essilor have agreed a 46 billion euro ($49 billion) merger to create a global powerhouse in the eyewear industry with annual revenue of more than 15 billion euros, they… Here is the original post: Luxottica and Essilor agree 46 billion euro merger to create eyewear giant Read More →