Sunday, April 30, 2017

Favoring small caps, financials, and consumer staples - Mercadien's Ken Kamen

Small caps and consumer staples are a good place to be as consumers spend more, says Ken Kamen, managing director at Mercadien Asset Management. He is cautiously optimistic about financials. Aleksandra Michalska reports.

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Investors still like French vote outcome - Pictet's Luca Paolini

Diversifying away from U.S. stocks and investing in European stocks and emerging Asian stocks is a more promising bet, says Luca Paolini chief strategist at Pictet Asset Management. Aleksandra Michalska reports.

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Soft GDP data weighs on Wall Street

Weak data on economic growth and consumer sentiment dragged stocks lower on the final trading day of April. But the major indexes notched weekly gains, as Fred Katayama reports.

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Friday, April 28, 2017

U.S. GDP slows to 0.7%

The U.S. economy posted its weakest first quarter growth in three years as consumers crimped on spending. Fred Katayama reports.

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GM profit soars 33 percent

GM's dominance in trucks and sport utilities helped drive profit higher. Fred Katayama reports.

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Trump's 100 days: a European business view

As President Trump completes his first 100 days in office, Sara Hemrajani reports on the view from European markets and business analysts on the U.S. leader's policies.

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Robots kill more jobs than China

President Trump blames China and Mexico for stealing American jobs. But as Fred Katayama reports, economists say most jobs are lost to automation.

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The tech race to combat social media violence

After a string of violent crimes shown live on social media, companies around the world are racing to improve artificial intelligence so software can automatically spot and block undesirable videos. Rosanna Philpott reports.

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Breakingviews TV: Crunching Oreos

Mondelez may be seeking a new CEO and remains under pressure from activists. Lauren Silva Laughlin and Jeffrey Goldfarb discuss whether the numbers would stack up in a possible sale to Kraft Heinz.

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Earnings lift Nasdaq to record

After the bell, shares of Alphabet and Amazon rallied on strong earnings results. Fred Katayama reports.

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Thursday, April 27, 2017

United Airlines settles with Dr. David Dao - CNBC

United Airlines settled will its passanger who was yanked from his seat to make room for airline crew members. Separately, the airline offered up to $10,000 for forfeiting seats on overbooked flights. Fred Katayama reports.

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Breakingviews TV: Buoyant boutiques

With Lazard joining Evercore and Moelis in reporting strong earnings, Antony Currie and Tom Buerkle discuss how smaller investment banks are cleaning up on the rise in M&A activity.

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Trump open to renegotiating NAFTA

U.S. President Donald Trump says renegotiating NAFTA is "very possible," but he threatened to scrap the pact if Canada, Mexico, and the U.S. fail to reach a "fair deal for all." Fred Katayama reports.

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Germany: economy growing but so is inequality

For all its economic success, Germany has a growing problem with inequality and poverty. As Sonia Legg reports, it even has a greater proportion of working poor than Britain, France, Hungary and Cyprus.

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Ford's profit skids 35 percent

Higher expenses due to a safety recall and a drop in pretax profit in North America contributed to the automaker's earnings decline. Fred Katayama reports.

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ECB keeps tap open, but nods to recovery

The European Central Bank left its ultra-easy policy stance in place on Thursday as inflation continues to undershoot its target but explicitly acknowledged the vigour of the euro zone economy, now on its best run since the global financial crisis. David Pollard reports.

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Airbus profit dips on engine delays, price squeeze

Core profit at Airbus more than halved in the first quarter as it cut prices of old models and delays at an engine maker hampered deliveries of its profitable new A320neo jet. Sonia Legg reports

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BoJ upbeat, but stimulus exit distant

The Bank of Japan has kept monetary policy unchanged and offered its most optimistic assessment of the economy in nine years, signalling its confidence that a pick-up in overseas demand will help sustain an export-driven recovery. But as David Pollard reports, Governor Kuroda also signalled no change in policy just yet.

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Tech hype drives Didi Chuxing to $50 bln valuation

Enthusiasm for tech funds has China's top ride-hailing app pegged for a $50 billion valuation, on the back of a new round of fund-raising. Ryan Brooks reports.

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Samsung sees stronger earnings from chips and phones

Samsung sees stronger earnings after posting a solid first-quarter profit thanks its memory chip business, sending its shares to a new high. Samantha Vadas reports.

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Wednesday, April 26, 2017

Fox News sued for racial discrimination

Eleven current and former employees of Fox News sue the network for racial discrimination. Fred Katayama reports.

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Trump plan slashes business taxes

The Trump Administration billed its plan as one of the biggest tax cuts in American history. But as Fred Katayama reports, critics fear revenue losses could add to the federal deficit.

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Nasdaq tops 6,000 mark

The Nasdaq notches a new milestone amid few signs of slowing. Chris Dignam reports.

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Breakingviews TV: Twitter's challenge

The human newswire's user growth rose in the first quarter, but revenue declined. Jennifer Saba and Rob Cox discuss why advertisers are shying away from Twitter.

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Strong France, solid Germany put ECB in spotlight

French risks have reduced and German GDP forecasts are revised up but as David Pollard reports that doesn't mean the ECB will ease up on QE at its policy meeting on Thrusday. Analysts, though, are on high alert for any sign it may do so later.

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Cashless society getting closer, survey finds

A new survey by ING reveals that more than a third of European and American consumers would be happy to go cashless and use electronic forms of payment. Saskia O'Donoghue reports

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Alitalia in crisis after rescue plan rejected

Alitalia is preparing for special administration proceedings after workers rejected its latest rescue plan. As Sara Hemrajani reports, this makes it impossible for the loss-making Italian airline to secure funds to keep its aircraft flying.

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Higher prices boost PepsiCo revenue

Demand for healthier snacks and beverage drove quartelry revenue higher at PepsiCo. But, as Fred Katayama reports, analysts were cautious about its results.

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Better times for Europe's banks?

Credit Suisse will raise around $4 billion from its shareholders to try to close the gap in financial strength with rivals. David Pollard reports on their results and some of their rivals.

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Mercedes and PSA car sales race ahead

German luxury car manufacturer Daimler is predicting a significant rise in operating profit this year after a surge in sales of Mercedes-Benz luxury cars and sports utility vehicles. As Sara Hemrajani reports, a product offensive is also helping French carmaker PSA.

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Trump tax plan will slash corporate tax rates

U.S. President Donald Trump is proposing to slash the corporate income tax rate and offer multinational businesses a steep tax break on overseas profits brought into the United States, officials said late on Tuesday.

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Trump tax plan will sharply slash corporate tax rates

U.S. President Donald Trump is proposing to slash the corporate income tax rate and offer multinational businesses a steep tax break on overseas profits brought into the United States, officials said late on Tuesday.

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Earnings power Wall Street

Nasdaq hit a record high, while the Dow and S&P 500 brushed against recent peaks as strong earnings underscored the health of corporate America. Roselle Chen reports.

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Tuesday, April 25, 2017

Stocks still like French vote outcome - Pictet's Luca Paolini

Diversifying away from U.S. stocks and investing in European stocks and emerging Asian stocks is a more promising bet, says Luca Paolini chief strategist at Pictet Asset Management. Aleksandra Michalska reports.

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Investors like Wells Fargo, says Catalyst Funds' David Miller

Wells Fargo might be doing better than everyone thinks, says David Miller, chief investment officer officer at Catalyst Funds. Investors are buying into the stock after it got depressed by the unauthorized accounts scandal. Aleksandra Michalska reports.

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Wells Fargo board gets black eye in shareholder vote

Wells Fargo shareholders showed displeasure with the scandal-hit bank's board on Tuesday, offering scant support for a dozen directors, including Chairman Stephen Sanger, in a vote capping a contentious annual meeting.

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Boeing near decision to launch 737-10 - sources

Boeing is nearing a decision to launch a larger version of its 737 workhorse jet within two months to counter strong sales of the Airbus, sources told Reuters. Roselle Chen reports.

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Akzo Nobel mulling third takeover bid

The chairman of Dutch paint-maker Akzo Nobel has told shareholders the company is not yet ready to respond to a third takeover proposal by PPG Industries, after the U.S. rival raised its offer by 8 percent to 26.9 billion euros. Ivor Bennett reports.

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McDonald's stock surges on results

McDonald's shares rallied after the company reported a better-than-expected rise in quarterly profit and U.S. same-restaurant sales. Roselle Chen reports.

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Coffee & carpets: UK consumers count the pennies

Britons are cutting back on their daily coffee fix and hesitating before splashing out on bigger items such as new carpets, retailers said on Tuesday, further signs that consumer spending is slowing sharply ahead of a national election in June. David Pollard reports.

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Breakingviews TV: Tyson’s tasty deal

Antony Currie and Tom Buerkle explain why the poultry company’s $3.2 bln offer for AdvancePierre makes financial sense both for Tyson and its target’s biggest shareholder, Oaktree.

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Markets say 'Au revoir' to Le Pen

World stocks hit fresh record highs, with investors' relief at centrist Emmanuel Macron's victory in the first round of the French presidential election supported by speculation about U.S. tax reform. As Ivor Bennett reports, investors see little risk of anti-euro Marine Le Pen scoring a surprise victory in the final vote.

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No fashion brand is fully transparent - report

New research published on the fourth anniversary of the Rana Plaza clothing factory collapse in Bangladesh says that none of us have enough information about how and where are clothes are made. As Mia Womersley reports none of the top 100 brands scored over 50 percent for transparency of their supply chains and three scored zero, including Dior.

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LVMH boss to take full control of Christian Dior

LVMH and billionaire businessman Bernard Arnault have announced a deal to simplify their relationship with Christian Dior by buying out its minority shareholders. As Sonia Legg reports, the transaction aimed at boosting LVMH's earnings sent shares in the luxury goods group to record highs.

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Earnings: US upbeat, but Europe more mixed

There are mixed fortunes for some of Europe's top companies as Q1 reporting season gets into full swing. But as David Pollard reports, three quarters of the top firms in the S&P 500 who have reported so far have beaten expectations.

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Monday, April 24, 2017

Panera to add 10,000 jobs

Panera Bread will add more than 10,000 new delivery jobs by the end of the year, as it expands the service to as much as forty percent of its restaurants. Alicia Powell reports.

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German business morale defies political risks

German business morale brightens more than expected in April, hitting its highest in nearly six years. As Ivor Bennett reports, the IFO survey suggests company executives are more upbeat about the current state of Europe's largest economy.

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Breakingviews TV: $24 bln of needles and tubes

Robert Cyran and Richard Beales discuss the rationale for Becton Dickinson's agreed purchase of U.S. medical-devices rival C.R. Bard given the weakness of the financial logic.

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Jimmy Choo shoe brand seeks well-heeled buyer

British luxury retailer Jimmy Choo is seeking offers for the company as part of a review of its strategic options to maximise shareholder value. As Ciara Lee reports, the firm, which is a favourite with celebrities and specialises in shoes and accessories, says it has the backing of its majority shareholder.

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Africa to rebound in 2017 - World Bank

The World Bank says economic growth in sub-Saharan Africa is rebounding in 2017 after registering the worst decline in more than two decades last year. David Pollard reports.

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LafargeHolcim CEO to stand down over Syria payments

LafargeHolcim Chief Executive Eric Olsen will leave the world's largest cement maker in July. As Ivor Bennett reports, the decision follows an investigation into allegations the company paid armed groups in Syria to keep a plant operating.

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Why markets see Macron as next Obama or Trudeau

Euro zone money markets have priced in a higher chance of a rise in ECB interest rates after Emmanuel Macron won the first round of the French presidential election. But as Sonia Legg reports, investors are still bracing for the next round and what could follow even if the former banker and economy minister is elected in two weeks.

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Tesla bets big on Model 3 production gamble

Tesla's Elon Musk is making a bold move to shorten production times for the highly anticipated Model 3 electric car, which could help Tesla meet demand and finally start making money.

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French election relief sends markets soaring

European shares open sharply higher and the euro briefly vaults to five-month peaks after the market's favoured candidate won the first round of the French election, reducing the risk of another Brexit-like shock. Ciara Lee reports.

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Passenger dragging costs United CEO future chairman job

United Airlines Chief Executive Oscar Munoz will not chair the company's board in 2018, according to a regulatory filing on Friday, following a high-profile incident in which an elderly passenger was dragged from a flight.

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Friday, April 21, 2017

Bebe to shut all its stores

Struggling apparel retailer Bebe Stores said on Friday it would close all its stores by the end of May, another casualty of the rise of retail giant Amazon and fast-fashion brands.

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Trump orders tax cuts and deregulation

U.S. President Donald Trump ordered the Treasury to find ways to cut taxes and Dodd-Frank rules. Roselle Chen reports.

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Bebe to shut all its stores

Struggling apparel retailer Bebe Stores said on Friday it would close all its stores by the end of May, another casualty of the rise of retail giant Amazon and fast-fashion brands.

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Venezuela: pressure mounts on Maduro, economy

After days of fierce protest, Venezuela's opposition is vowing to keep up the pressure on President Nicolas Maduro to hold elections and improve a collapsing economy. Ivor Bennett reports.

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Wall Street slips ahead of French election

U.S. stocks dipped on as investors are cautious ahead of the first round of the closely-contested French presidential election. Roselle Chen reports.

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Volkswagen put on probation, hit with criminal fine

A federal judge in Detroit on Friday sentenced Volkswagen to three years of probation and ordered the automaker to pay a $2.8 billion criminal fine tied to the emissions cheating scandal, which it settled earlier this year.

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Volkswagen put on probation, hit with criminal fine

A federal judge in Detroit on Friday sentenced Volkswagen to three years of probation and ordered the automaker to pay a $2.8 billion criminal fine tied to the emissions cheating scandal, which it settled earlier this year. Conway G. Gittens reports.

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What a whiskey cocktail tells us about Virtual Reality

An upscale hotel bar in London is serving whiskey cocktails with a virtual reality tour of the drink's origin, as decreasing costs for the tech make it more accessible to smaller organisations.

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Miami dealership's electric opportunity in Cuba

A Miami car dealership seeks to make inroads into Cuba's car market with electric vehicles amidst a gasoline shortage on the Caribbean island. Ciara Lee reports.

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Breakingviews TV: 100 billion reasons

Breakingviews editors chew over potential candidates for a record-breaking $100 billion cash-financed acquisition, a hypothetical possibility recently floated by JPMorgan's M&A chairman.

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Trump budget cuts could increase lead hazards

The water crisis in Flint, Michigan focused national attention on the dangers of lead exposure, and over the past year Reuters has found more than 3,400 neighborhoods across the United States where childhood lead poisoning rates are at least twice as high as Flint’s. Now President Trump is pushing for steep budget cuts that experts say could cause more children, not fewer, to suffer the lifelong effects of lead exposure.

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Trumpchi: what's in a name?

When they first launched their flagship car the 'Trumpchi', executives at Chinese automaker GAC didn't even know who Donald Trump was. Now that they do, they're considering a re-brand. Graham Mackay reports.

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UK sales post biggest quarterly fall since 2010

British retail sales posted the biggest quarterly fall in seven years during the first three months of 2017, as rising prices since last year's Brexit vote started to pressure consumers. David Pollard reports.

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Exxon silent on report it seeks Russia sanctions waiver

Exxon Mobil declined to comment on a media report that it is seeking permission from the U.S. government to drill in several areas of the Black Sea banned by U.S. sanctions on Russia.

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Chinese car brand 'Trumpchi' weighs a name change

When they first launched their flagship car the 'Trumpchi', executives at Chinese automaker GAC didn't even know who Donald Trump was. Now that they do, they're considering a re-brand. Jake Spring reports from the Shanghai Auto Show.

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Wall Street rallies on earnings

U.S. stocks rallied, with the Nasdaq closing at a record, as a round of solid earnings led by American Express pushed equities higher. Roselle Chen reports.

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Thursday, April 20, 2017

Trump launches trade probe targeting Chinese steel

President Donald Trump launched an investigation on Thursday to determine whether Chinese and other foreign-made steel threatens U.S. national security. Rough Cut (no reporter narration).

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Buffett likely backed Wells Fargo's board

Wells Fargo's largest investor, Warren Buffett, has likely already voted his shares to support the bank's board ahead of its annual shareholder meeting next week, a source told Reuters. Roselle Chen reports.

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Verizon loses subscribers

Verizon reported quarterly results that missed estimates and said it lost subscribers despite re-launching unlimited data plans. Alicia Powell reports.

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France, markets on election alert

With just four days to go, investors are bracing for the first round of the presidential election in France. With just a few points separating the top four candidates, including two who oppose the euro, Paris bankers and brokers will be on call, ready to scoot to the office as results of the first round start to dribble in this Sunday night. David Pollard reports.

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IMF can cooperate with Trump on trade - Lagarde

World finance leaders are gathering on U.S. President Donald Trump's home turf to try to nudge his still-evolving policies away from protectionism and show broad support for open trade and global integration. David Pollard reports.

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Inflation gives Unilever sales a surprise lift

Consumer goods maker Unilever has reported a surprise acceleration in quarterly sales, helped by price increases. But, as Ivor Bennett reports, its Swiss rival Nestle hasn't yet felt the benefit from inflation - it's been hit by weak consumer demand for packaged foods in North America and weaker prices in western Europe.

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Steel towns test mettle of French candidates

The popularity of the National Front has made the French election a big political risk for markets. As Sonia Legg reports, many say the weakness of the French economy has led voters to favour more extreme politicians.

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Beijing wants an electric car boom, buyers want SUVs

Electric cars are the main event at this year's Shanghai auto show, but Chinese consumers really want to buy gasoline-fueled SUVs. Reuters' Joseph White looks at why car makers are so keen to go electric in the world's largest auto market.

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IBM sends S&P 500, Dow lower

The S&P 500 and Dow closed lower and the Nasdaq advanced as investors digested the latest round of earnings and a drop in oil prices weighed on the energy sector. Roselle Chen reports.

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Wednesday, April 19, 2017

Nebraska farmers fight Trump on Keystone XL

President Donald Trump may have authorized the Keystone XL pipeline to go forward, but a group of farmers in Nebraska are determined to stop the Canadian project from running through their land.

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O'Reilly is out at Fox

Fox News parts ways with star host Bill O'Reilly following allegations of sexual harassment. Roselle Chen reports.

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Fox News fires Bill O'Reilly over sex harassment allegations

Fox News let go of its top anchor Bill O'Reilly Wednesday following a review of sexual harassment claims. Conway G. Gittens reports.

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UK ponders pound after May's election day alert

Inflation ate further into the budgets of British households last month, according to a survey of consumers, adding to signs that households will be feeling under pressure in the run-up to the June snap election planned by Prime Minister Theresa May. David Pollard reports.

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Breakingviews TV: Morgan beats Goldman

Morgan Stanley hit its return target with $1.8 bln in first-quarter earnings. Antony Currie and Tom Buerkle discuss how the strong showing put traditional rival Goldman Sachs in the shade.

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Morgan Stanley's profit surges

Morgan Stanley reported a jump in quarterly profit as revenue from bond trading nearly doubled following interest rate hikes by the Federal Reserve. Roselle Chen reports.

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Paint maker & takeover target plans to split firm

Akzo Nobel, the Dutch paint maker trying to fend off a 24.6 billion euro takeover by U.S. rival PPG Industries Inc, outline an alternative plan to separate its chemicals business and pay shareholders 1.6 billion euros in extra dividends this year. Ivor Bennett reports.

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Burberry sales growth slows as US, Asia weigh

British luxury brand Burberry reports a slight slowdown in its fourth-quarter comparable sales growth rate, as tough conditions in the United States weighed on an "exceptional" performance in its home market. David Pollard reports.

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Why Hungary's mortgage market is taking off

The Hungarian mortgage market takes off after years in doldrums with some developers expecting "the big leap in 2018 and 2019". As Laura Frykberg reports, it's mainly down to the country's low interest rates.

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Bill O'Reilly's fate at Fox News in doubt

Million dollar legal settlements, protesters, advertiser defections, and another sexual harassment allegation may not be enough alone to force out Fox News star Bill O'Reilly, but a risk to Rupert Murdoch $14 billion plan to buy the Sky TV network might be.

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Tuesday, April 18, 2017

Boeing to lay off hundreds more engineers - source

Boeing plans another round of involuntary layoffs affecting hundreds of engineers at its commercial airplanes unit, according to a source and a memo seen by Reuters. Roselle Chen reports.

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Wall Street loses ground as Goldman, J&J slump

The S&P 500 fells weighed down by declines in Goldman Sachs and Johnson & Johnson following their quarterly results. Roselle Chen reports.

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Low turnout doubts add to French election worries

France's borrowing costs have risen while Germany's hold near three-month lows in a sign of unease just days before a first round of voting in France's closely-watched presidential race. Sonia Legg reports.

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Goldman Sachs profit misses

Goldman Sachs reported a lower-than-expected quarterly profit as gains in investment banking were offset by weak trading revenue. Roselle Chen reports.

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Breakingviews TV: Netflix original

Jen Saba and Richard Beales explore why Netflix's usually volatile stock didn't react to its quarterly earnings on Monday, and what the video streaming service seems to be getting right.

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UK's May shocks markets, nation with election date

Sterling surges against the dollar but UK shares slip to a two per cent loss after British Prime Minister Theresa May calls a snap general election to strengthen her hand in Brexit negotiations. David Pollard reports.

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Markets nervous over North Korea, France and UK

Asian stocks were mixed on Tuesday and the dollar gave up the gains it had made when the U.S. Treasury Secretary spoke in support of a stronger currency as escalating tensions around North Korea dragged sentiment lower. Laura Frykberg reports.

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Sterling soars as traders hail UK election

Sterling soars as traders bet a UK election could leader to a softer kind of Brexit.

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Wall Street rallies

U.S. stocks bounced back in a broad rally led by bank and technology shares. Roselle Chen reports.

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Monday, April 17, 2017

FDA rejects Eli Lilly's arthritis drug

Shares of Eli Lilly and partner Incyte drop after the U.S. Food and Drug Administration declines to approve a new drug for rheumatoid arthritis. Roselle Chen reports.

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'The Fate of the Furious' sets a worldwide record

'The Fate of the Furious' roared to a record-setting global debut over Easter weekend, making $532 million. Roselle Chen reports.

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Breakingviews TV: Grabbing MoneyGram

Jeff Goldfarb and Antony Currie explain why Euronet might be better off hoping regulators kill Ant Financial’s increased $1.2 bln bid for the payments firm rather than offering more money.

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Oil prices force Riyadh to cut billions in spending

Saudi Arabia's government is ordering its ministries and agencies to review billions of dollars' worth of unfinished infrastructure and economic development projects with a view to shelving or restructuring them.

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Red-hot property market lifts growth in China

Government spending on infrastructure and a swelling property market help lift Chinese growth to a higher-than-expected 6.9% for the first quarter of 2017. But as Yawen Chen reports from Beijing, behind the upbeat numbers, there are fears that the housing sector may be on the verge of overheating.

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Go-kart maker faces challenge of 'bringing jobs back'

Mini motorcycle and go-kart maker Monster Moto made a bet on U.S. manufacturing by moving assembly to a Louisiana town in 2016 from China, but it's a ways from being able to stamp its products 'Made in U.S.A.'

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Apple may join Foxconn in bid for Toshiba's chips

Apple Inc is considering teaming up with its supplier Foxconn to bid for Toshiba Corp's semiconductor business, Japanese public broadcaster NHK reported on Friday - the latest twist in the sale of the world's second-biggest flash memory chipmaker.

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Friday, April 14, 2017

The fight for luxury comes to the New York auto show

New offerings from Porsche, BMW, Mercedes-Benz, Ford's Lincoln and newcomer Genesis, a unit of Hyundai Motors, battled it out for attention in the upscale auto market as the New York International Auto Show kicks off.

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Apple receives permit in California to test self-driving cars

Apple has secured a permit to test autonomous vehicles in California, the state Department of Motor Vehicles said on Friday. It joins a growing list of traditional carmakers, technology companies, and small start ups to test drive cars in California - all vying to be the first to bring self-driving cars to the masses.

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Slow bank loan growth concerns Kate Warne

Concerns over a delay in regulatory changes and slow loan growth weigh on investors' minds, Edward Jones' Kate Warne tells Reuters' Fred Katayama.

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Thursday, April 13, 2017

SUVs take over New York auto show

Automakers unveil a massive number of new sport utility vehicles at the New York International Auto Show, boosted by low fuel prices and increasing demand for big autos with luxurious designs. Fred Katayama reports.

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Wall St falls as banks weigh after earnings

Major U.S. stock indexes fall for a third straight day as investors weigh earnings reports from big U.S. banks and geopolitical tensions. Fred Katayama reports.

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United passenger suffered concussion, broken nose: lawyer

The lawyer for David Dao, who will likely sue United Airlines, says his client suffered "a significant concussion" a "serious broken nose, injury to sinuses and he is going to be undergoing shortly reconstructive surgery." Rough Cut (no reporter narration).

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Breakingviews TV: Bank bonanza

Citigroup, JPMorgan and Wells Fargo all delivered results that exceeded expectations amid investor exuberance. Antony Currie and Jeffrey Goldfarb discuss the valuation disconnects.

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Uber’s search for a COO could be tough for the CEO

Uber is searching for a COO, but will the current CEO Travis Kalanick’s ‘iron grip’ on the company make it possible?

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S Africa: Zuma 'not worried', but investors?

Despite mass opposition rallies, South African President Jacob Zuma responds to demands for him to quit by saying 'he's not stressed'. Investors, though, are far from relaxed about a struggling economy. David Pollard reports.

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Brazil's Temer: 'business as usual' despite probe

Brazil's President Michel Temer urges lawmakers to push ahead with business as usual, a day after a Supreme Court justice ordered corruption probes into 98 politicians, including leading legislators and a third of his cabinet. But, with such pressure at the top, can the economy carry on with business as usual? Laura Frykberg reports.

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UK exports strong, uncertainty ahead - survey

British manufacturers reported the fastest export growth in more than two years in early 2017 and the services sector also recovered to rack up its strongest sales growth since last June's Brexit vote, a survey showed on Thursday. As Laura Frykberg reports, it comes amid other data which point to new vulnerabilities in consumer demand and real wage growth.

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How Uganda is financing its top cyclists

Yusufu Mbaziira founded a bicycle courier inside his small town, Kasubi, a Kampala suburb in 2002. He hopes that the courier service can empower the riders financially, while helping to produce world class cyclists. Ciara Lee reports.

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Trump backs off calling China a currency manipulator

President Donald Trump says his administration will not label China a currency manipulator, backing away from a key campaign promise. Ryan Brooks reports.

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Wednesday, April 12, 2017

Breakingviews TV: Toshiba’s travails

Antony Currie and Richard Beales explain how poor governance, bad dealmaking and a lack of focus took the Japanese electronics-to-nuclear-power conglomerate into an existential crisis.

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United won't use police to remove passengers - CEO

United Airlines will no longer use law enforcement officers to remove passengers from overbooked flights after videos showing a passenger dragged from one of its planes spark outrage. Roselle Chen reports.

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Wall St down on geopolitical woes

U.S. stocks fell pressured by lingering geopolitical concerns and President Donald Trump's comments on the dollar and interest rates. Roselle Chen reports.

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Daily Mail settles with Melania Trump

UK's Daily Mail will pay U.S. First Lady Melania Trump an undisclosed sum and issue an apology for publishing a story saying the U.S. First Lady had offered "services beyond simply modelling" in her former job. Alicia Powell reports.

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United won't use police to remove passangers - CEO

United Airlines will no longer use law enforcement officers to remove passengers from overbooked flights after videos showing a passenger dragged from one of its planes spark outrage. Roselle Chen reports.

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Political risks could rock global economy

Global economic recovery is gaining momentum but could be cut off by a "sword of protectionism" now threatening global trade, International Monetary Fund Managing Director Christine Lagarde warns. Laura Frykberg reports.

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Breakingviews TV: United in sorrow

Antony Currie and Rob Cox explain why the airline’s poor response to a passenger’s forced removal from a flight is a reminder to companies to apologize first and ask questions later.

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Tesco out of mess but fails to impress

Britain's supermarket giant Tesco posts solid results showing its turnaround plan is bearing fruit. But opposition to the Booker deal and aggressive competition remain major issue for the retailer. Silvia Antonioli reports.

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Was Brexit referendum website hacked?

A website which allowed Britons to register to vote in last year's European Union referendum might have been targeted by foreign hackers causing it to crash before the deadline, a committee of British lawmakers said on Wednesday. Sarah Charlton reports.

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Geopolitics strain market nerves

European stocks rise as risk appetite gradually returns but elsewhere gold and bonds are the winners as investors seek safety amid growing unease over North Korea, Syria and Russia. Ciara Lee reports.

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The high price of online stardom in China

Young aspiring internet stars resort to plastic surgery to increase their chances of success in the Chinese live-streaming industry. Samantha Vadas reports.

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Tuesday, April 11, 2017

As the United backlash escalates, CEO digs in

Shares of UnitedContinental tumbled as outrage over video showing a passenger being dragged off a flight grew after CEO Oscar Munoz stood by employees and failed to offer an apology to customers.

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Jana Partners shakes up Whole Foods

Jana Partners has upped its stake in Whole Foods Market to shake up the board and senior management of the high-end grocer and push for a sale of the company. Roselle Chen reports.

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United Airlines under fire over 'passengergate'

United Airlines sparks outrage for the treatment of a passenger who was physically dragged off a plane the airline had overbooked. David Pollard reports.

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Breakingviews TV: Tesla's ludicrous mode

Antony Currie and Richard Beales figure out what's needed to justify Tesla's $51 bln market value – more than GM or Ford – and whether those assumptions are realistic.

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The rising cost of Venezuela's deepening crisis

As anti-government protests intensify in crisis-hit Venezuela, internatiolal diplomats call for a new vote and investors stay on the sidelines amid spiralling inflation and growing political instability. Silvia Antonioli reports.

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Toshiba risks a delisting after unaudited earnings

Japan's Toshiba Corp files twice-delayed business results without an endorsement from its auditor, increasing the likelihood that the nuclear-to-TVs conglomerate will be delisted. Ryan Brooks reports.

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Monday, April 10, 2017

Whole Foods' new investor pushing for possible sale

Whole Foods learned Monday its newly minted second-biggest shareholder is Jana Partners and the activist investor is already pushing the struggling grocer towards a possible sale.

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Toyota invests $1.33 bln in Kentucky

Toyota spends$1.33 billion on its Kentucky plant as part of its $10 billion investment strategy in the United States over the next five years. Roselle Chen reports.

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Wall St ends up slightly

U.S. stocks ended a choppy session slightly higher on Monday. Investors are getting ready for the start of the earnings season. Roselle Chen reports.

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Freight train leaves Britain for long haul to China

The first freight train to run from Britain to China left on Monday, carrying vitamins, baby products and other goods as Britain seeks to burnish its global trading credentials for when it leaves the European Union. Rough Cut (no reporter narration).

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Wells Fargo scandal blamed on 'best banker in America'

An investigation by Wells Fargo's board ordered two former executives to lose or give back $75 million in bonus and compensation after laying blame for the company's unauthorized accounts scandal on a retail executive.

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AT&T to buy Straight Path for $1.25 bln

U.S. wireless carrier AT&T said on Monday it would buy Straight Path Communications, a holder of licenses to wireless spectrum, for $1.25 billion. Roselle Chen reports.

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Fox to investigate sexual harassment claim against O'Reilly

Fox News parent Twenty-First Century Fox Inc said on Sunday it will investigate a sexual harassment claim against TV anchor Bill O'Reilly, who has seen several companies pull their ads from his top-rated news show in the past week. Jonah Green reports.

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Barclays docks its CEO's bonus over whistleblower

British regulators are investigating Barclays Chief Executive Jes Staley and the bank itself over the handling of a whistleblowing incident. As Lucy Fielder reports, the investigation relates to an attempt by Staley last year to identify the author of a letter that was treated by Barclays Bank as a whistleblowing incident.

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U.S. Muslim investor on tackling Trump's policies

Shareholder activism is rare in Islamic finance but as Ciara Lee reports wealth manager Bashar Qasem is staking out new territory as the most outspoken voice among Muslim investors in the United States.

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Melenchon moves markets in French election race

The euro has edged lower against the dollar, pressured by nervousness over the upcoming French presidential elections as investors took stock of recent polls showing a tightening race between candidates. Sonia Legg reports

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Investors opt for safety as political risk grows

Trading volumes were muted for many financial market assets with investors refraining from making big bets because of geopolitical tensions in the Middle East and the Korean peninsula. As Ciara Lee reports, there are also a dilemmas ahead for economists and policy makers later this week.

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Sunday, April 9, 2017

Twitter pulls lawsuit over unusual government demand

Twitter on Friday dropped a lawsuit it filed the previous day against the U.S. Homeland Security Department, saying the government had withdrawn a summons for records about who was behind an account critical of President Donald Trump.

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Friday, April 7, 2017

Wall St dips on weak payrolls, Syria concern

Wall Street's edged lower on Friday in a choppy session as investors grappled with a weaker-than-expected job report, the U.S. airstrike in Syria, and a top Fed official's comments. Fred Katayama reports.

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Mexican farmers set to cash in on heirloom corn

Breeds of corn that have grown in Mexico for centuries will be given the same special status as fine chocolate and coffee - a fair trade label - and that may mean a boom for the country's farmers.

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Breakingviews TV: Comcast's crossed lines

The $180 bln U.S. cable colossus is now selling mobile service, too. Jen Saba and Jeffrey Goldfarb discuss why Comcast is getting into the cutthroat market as its telecom rivals move into TV.

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U.S. job growth cools

U.S. job growth slowed sharply in March, but a drop in the unemployment rate to a near ten-year low suggested the labor market was still tightening. Fred Katayama reports.

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Syria strike puts markets on edge

Oil prices held near one-month highs on Friday after the United States attacked a Syrian air base. European shares fell as major benchmarks tracked a global retreat by risky assets. Ciara Lee reports.

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Carney: Brexit "a litmus test" for global finance

The Bank of England Governor, Mark Carney, calls for "the high road" to be taken in UK-EU negotiations or risk harming financial globalisation. Sara Hemrajani reports.

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Stocks dip on jobs data, Syria

Stocks fell just slightly despite a disappointing jobs report and the U.S. missile strike on Syria. Fred Katayama reports.

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Hiring slows to 10-month low

U.S. employers added only 98,000 jobs in March, a hiring slowdown that suggests the economy isn't moving in lockstep with the surging optimism seen since President Trump's election.

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Samsung predicts record-breaking Q1 profit

Samsung forecast on Friday its best quarterly profit in more than three years, putting it on track for record earnings in 2017. Reuters' Vincent Lee explains what's behind the quick recovery after a political scandal and a disastrous recall.

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Salesforce tops off tallest building in the West

Salesforce cements its place in San Francisco with the capping off of its namesake tower, the tallest building in the city.

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Thursday, April 6, 2017

Larry Fink: stock market cheerleader turns cautious

Larry Fink, the head of the world's biggest investment management firm - BlackRock, sent out a warning about the stock market's double-digit gain since the November presidential election.

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Trump, Xi prepare for difficult talks on trade

U.S. President Donald Trump opened a two-day summit with Chinese President Xi Jinping, facing pressure to deliver trade concessions for some of his most fervent supporters. Fred Katayama reports.

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Wall Street edges higher

Stocks bounced back from Wednesday's sharp selloff but gave back some gains after comments from President Donald Trump. Fred Katayama reports.

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Greece's dark age of austerity

Greece's biggest power utility Public Power Corporation, one of the assets earmarked for part-privatisation under the country's third bailout, is toiling under 2.6 billion euros of unpaid bills as poverty-stricken Greeks struggle to get by in Greece's eight-year economic crisis. Laura Frykberg reports

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Comcast enters the wireless business

Comcast is launching a new wireless service with an unlimited data plan, making it the first major U.S. cable provider to enter the highly competitive wireless market. Fred Katayama reports.

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BP cuts CEO pay package after shareholder backlash

BP has cut Chief Executive Bob Dudley's 2016 pay package by 40 percent to $11.6 million, the latest British bluechip company to rein in executive pay after a wave of shareholder revolts. David Pollard reports.

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Breakingviews TV: Bezos’ space race

Amazon CEO Jeff Bezos is selling $1 bln of stock a year to fund his space venture. Rob Cyran and Tom Buerkle discuss how the firm’s cloud-computing wealth is rocket fuel for his ambitions.

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Macron's lead narrows in French presidential poll

With the French presidential election looming, centrist Emmanuel Macron has ceded ground to far-right candidate Marine Le Pen, according to latest polls. Lucy Fielder reports.

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Sunoco sells stores to 7&i

Sunoco is selling the majority of its convenience stores to the operator of the 7-Eleven chain so it can focus on its fuel supply business. Fred Katayama reports.

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Draghi: 'no need to deviate' from ECB policy path

The European Central Bank is set to stick to its policy plan, including bond purchases and record-low rates for some time to come, as it has yet to be convinced that the euro zone's economy is back to rude health. As David Pollard reports, the comments by the ECB's President, Mario Draghi, sent the euro to a three-week low.

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Regulator sues Apple alleging iPhone 'bricking'

Australia's consumer watchdog sues Apple Inc alleging it used a software update to disable iPhones which had cracked screens fixed by third parties. Sonia Legg reports.

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Wednesday, April 5, 2017

Xi, Trump to discuss trade, currency

U.S. President Donald Trump has raised expectations ahead of his summit with Chinese President Xi Jingping. Fred Katayama reports.

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Wall St ends down after Fed minutes

U.S. stocks ended lower after a late afternoon reversal following signals from the Federal Reserve that it could change its bond investment policy this year. Roselle Chen reports.

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BMW, Allstate pull ads from 'O'Reilly Factor'

More companies, including BMW and Allstate, pulled their advertising from Fox News' "The O'Reilly Factor" days after the New York Times reported Fox and star host Bill O'Reilly paid five women to settle sex harassement cases. Fred Katayama reports.

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Breakingviews TV: M&A bread maker

Antony Currie and Tom Buerkle explain why the yeasty premium on JAB’s $7.5 bln deal for Panera is unlikely to be replicated in other deals in the fast-consolidating restaurant industry.

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Imagination Tech: Not the last Apple supplier casualty

Apple's decision to stop licensing graphics chips from Imagination Technologies Group is the clearest example yet of the iPhone maker's determination to take greater control of the core technologies in its products - both to guard its hefty margins and to position it for future innovations, especially in so-called augmented reality.

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EU's Barnier: 'no' to parallel Brexit/trade talks

Britain must stop pressing for immediate parallel talks with the European Union on a post-Brexit free trade deal, EU chief negotiator Michel Barnier said on Wednesday. As David Pollard reports, the rebuff could make the UK's attempts to seek out new trade partners even more urgent.

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Driverless direction for Daimler and Bosch

Mercedes-Benz owner Daimler and supplier Robert Bosch are teaming up to develop self-driving cars in an alliance aimed at accelerating the production of "robo-taxis". As Laura Frykberg reports, the pact forms a powerful counterweight to new auto industry players like ride-hailing firms Uber and Didi.

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Alitalia grounds flights as staff go on strike

Alitalia was forced to cancel 60 percent of scheduled flights as employees went on strike. As Sara Hemrajani reports, the staff are angry about the loss-making airline's plans to cut 16 percent of its staff and reduce flight personnel's salaries by a third.

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Macron still ahead after friction-filled debate

There was relief for markets after Centrist Emmanuel Macron kept his position as favourite to win France's presidential election, following a televised debate in which he clashed with his main rival, Marine Le Pen, over Europe. Laura Frykberg reports.

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Euro zone businesses start 2017 on six-year high

Euro zone businesses enjoyed their best quarter in six years at the start of 2017 and although growth was not as fast as earlier predicted the upturn was broad-based, a survey suggests. David Pollard reports.

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U.S. business seeks action, not trade war, in Xi-Trump summit

Ahead of the meeting between Donald Trump and Xi Jinping, U.S. businesses are managing expectations over what will come from the talks. Samantha Vadas reports.

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Trump's $1 trillion infrastructure overhaul

President Donald Trump vowed to cut red tape to speed up approval of infrastructure projects and and said his overhaul could top $1 trillion on roads, tunnels and bridges. Fred Katayama reports.

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Tuesday, April 4, 2017

Ralph Lauren shuts Fifth Avenue Polo store

Ralph Lauren will eliminate jobs and shut its flagship Polo store on Fifth Avenue in New York City as part of a cost-cutting plan. Fred Katayama reports.

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Staples explores sale

Staples, the largest U.S. office supplies retailer, is considering selling itself, and is in talks with private-equity bidders, a source familiar with the situation told Reuters. Fred Katayama reports.

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NCAA lifts North Carolina championship ban

The National Collegiate Athletic Association said on Tuesday it will again consider allowing North Carolina to host championship games after the state replaced a law it deemed discriminatory against lesbian, gay, bisexual and transgender (LGBT) people.

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Breakingviews TV: Fox and fewer friends

Jennifer Saba and Richard Beales evaluate the impact on Fox News' business of past and present allegations of sexual harassment against the likes of on-air host Bill O'Reilly and former Chairman Roger Ailes.

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Boeing sells jets to Iran airline

The deal valued at $3 billion is the first between major American and Iranian companies since President Donald Trump took office. Fred Katayama reports.

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S.African markets feel strain of S&P downgrade

South Africa's new finance minister seeks to reassure the public and investors following a ratings downgrade by S&P. But, as Sara Hemrajani reports, the markets continue to tumble and union members are now calling for President Zuma to resign.

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Spotlight Episode One, Jim Rogers. Part One.

Patrick Fok talks to the author and investor, Jim Rogers, about his early life and career including his time working with George Soros starting the Quantum Fund.

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Pink Star diamond is world's most expensive gem

The world's most valuable pink diamond has been sold at a Sotheby's auction for a world record price of US$71.2 million in Hong Kong. As Sonia Legg reports, the largest and most vivid pink diamond was bought by a Hong Kong-based jewellery after a five-minute bidding war between three phone bidders.

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Spotlight Episode One, Jim Rogers. Part Three.

Patrick Fok talks to the author and investor, Jim Rogers, about his interests in Russia, its relationship with the USA and his advice on investing.

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Spotlight Episode One, Jim Rogers. Part Two.

Patrick Fok talks to the author and investor, Jim Rogers, about his decision to move to Asia and the region’s economic prospects.

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China missile dispute hurts Korean autos - sources

South Korea's Hyundai Motor Co and Kia Motors Corp have sharply cut vehicle production in China, according to sources, as anti-Korean sentiment and competition from Chinese brands play havoc on sales and threaten earnings. Sonia Legg reports.

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China squeezes N. Korea as Trump-Xi meeting looms

Ahead of Donald Trump's meeting with Xi Jinping, there are signs that China is strongly squeezing North Korea's economy on the countries' shared border. Graham Mackay reports.

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Musk mocks short-sellers after Tesla stock surge

As Tesla's strong quarterly vehicle deliveries sent its stock to a record high on Monday, Chief Executive Elon Musk took a swipe at traders betting the luxury electric car company is on a road to ruin.

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Toshiba said to offer shares to lenders

Toshiba Corp will meet creditor banks to ask them to accept as collateral shares in its memory chip unit being split off and other businesses and not call in their loans, sources with direct knowledge of the matter say. As Sara Hemrajani reports, the news comes as the firms shares plunged another 10 percent.

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Monday, April 3, 2017

Stocks slip on policy uncertainty

Investors worry if President Trump will be able to deliver on his promises of cutting taxes and easing regulations. Fred Katayama reports.

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Disappointing March sales weigh on U.S. automakers

U.S. sales of new vehicles in March at major automakers came in below market expectations, sending shares of General Motors and Ford Motor down. Fred Katayama reports.

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Breakingviews TV: Yuan percent

Tom Buerkle talks to Richard Beales about why the Chinese currency makes up only 1 pct of global central banks' reserves, according to the IMF, and how that may change over time.

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Merkel: we want to limit Brexit fallout

The European Union should try to limit the fallout from Britain's decision to leave the European Union, German Chancellor Angela Merkel said on Monday, conceding that some damage was inevitable. Sara Hemrajani reports.

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Tesla deliveries zoom to record

The luxury electric car maker delivered 69 percent more vehicles in the first quarter than a year ago. Fred Katayama reports.

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Brexit battle over Gibraltar

The future of Gibraltar, a rocky British outpost on Spain's southern tip, has become the first major dispute of the exit negotiations since Prime Minister Theresa May filed the formal divorce papers on March 29th. Ciara Lee reports.

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Mobileye founder's vision for other company

Fresh off the $15 billion sale of his autonomous vehicle technology firm Mobileye to Intel, Amnon Shashua's next start-up, OrCam, uses similar computer vision technology to help the visually impaired. Laura Frykberg reports

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Profit drops in China firms

Official numbers may suggest a rosier 2017 for China, but the bottom lines of the country's top consumer firms paint a patchy picture of spending in the world's second-largest economy. Ryan Brooks reports.

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