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U.S. manufacturing sector stabilizing; producer prices tame
U.S. manufacturing output increased for a second straight month in October amid gains in the production of motor vehicles and a range of other goods, suggesting that the battered factory sector was slowly recovering. The Federal Reserve said factory production rose 0.2 percent last month after a similar gain in September. Output Continued here: U.S. manufacturing sector stabilizing; producer prices... [Read more]
Swire Pacific in talks to buy Coca-Cola bottling assets in China: Bloomberg
(Reuters) – Hong Kong conglomerate Swire Pacific Ltd is in talks to buy Coca-Cola Co's bottling assets in China from Cofco Corp's [CNCOF.UL] China Foods Ltd unit, Bloomberg reported. A potential deal could value the business at about $1 billion and the companies could announce a deal as soon as this week, Bloomberg said, citing people familiar with the matter. Swire… See the... [Read more]
Uber says Taiwan’s steps against it hurting citizens
By J.R. Wu TAIPEI (Reuters) – Uber Technologies Inc [UBER.UL] urged Taiwan President Tsai Ing-wen to let the island's people decide whether they want Uber services in Taiwan, the latest salvo in the wrangle between the authorities there and the global ride-hailing service company. Uber's comments were made in… Read more from the original source: Uber says Taiwan’s steps... [Read more]
Exclusive: EU regulators expected to clear $25 billion Abbott, St Jude deal: source
(Reuters) – EU antitrust regulators are expected to give conditional clearance to U.S. medical device maker Abbott Laboratories’ bid for peer St Jude Medical Inc , a person familiar with the matter said on Tuesday. Original post: Exclusive: EU regulators expected to clear $25 billion Abbott, St Jude deal: source Read More →
Dollar soars as U.S. yields spike; global shares divided
By Marc Jones LONDON (Reuters) – The U.S. dollar hit an 11-month peak on Monday as the risk of faster domestic inflation and wider budget deficits if Donald Trump goes on a U.S. spending binge sent Treasury and other benchmark global bond yields ever higher. The pan-European STOXX 600 index rose 1.1 percent, underpinned by gains among banks on hopes higher interest rates will help their profits... [Read more]
U.S. regulator has opened Audi investigation: Bild am Sonntag
A U.S. government regulator has started investigating Volkswagen's Audi brand over a reported discovery of a new cheat software device at the luxury carmaker, Bild am Sonntag reported, without citing the source of the information. The German weekly paper … Original post: U.S. regulator has opened Audi investigation: Bild am Sonntag Read More →
J.C. Penney’s quarterly comparable sales fall 0.8 percent
(Reuters) – J.C. Penney Co Inc reported a 0.8 percent fall in quarterly comparable store sales on Friday, reflecting weak store traffic, increased price competition from online and off-price retailers and a general shift away from spending on apparel. See the original post here: J.C. Penney’s quarterly comparable sales fall 0.8 percent Read More →
TomTom targeting deals with U.S. automakers
TomTom has benefited from the formation of the rival Here consortium as automakers not involved in it are keener to do business with the independent mapping operator, its chief executive said on Friday. While its success in winning automotive customers remained “lumpy”, TomTom is focused on winning customers in the United States, … View post: TomTom targeting deals with U.S. automakers Read More →
Twitter says COO Adam Bain to leave, Noto to take his place
Twitter Inc said on Wednesday that Chief Operating Officer Adam Bain, widely credited with building a robust advertising business at the company even as it struggled with user growth, is leaving to explore other opportunities. “Mr. Bain will remain at Twitter in the coming weeks to assist with the transition of the chief operating officer role,” the company said. The move is a blow for... [Read more]
Fed to proceed with December U.S. rate rise despite Trump upset: Reuters poll
While there was no prior official view on what the Fed would do if Trump won in a contest where nearly every poll of U.S. voters pointed to a victory for Democrat Hillary Clinton, many had said ensuing uncertainty from an upset might put up a roadblock. When the Fed last hiked, its first in the current cycle off the zero bound, it expected to have delivered four more by now, but was thrown off course... [Read more]