Today News


China's Alibaba outstrips revenue estimates with online sales growth


(Reuters) - Alibaba, China's top e-commerce firm, beat analyst's estimates with a 56 percent rise in first-quarter revenue, driven by growth in online sales which make up most of its business.

Wal-Mart's comparable sales rise for 12th straight quarter


CHICAGO (Reuters) - Wal-Mart Stores Inc reported its 12th consecutive rise in quarterly comparable sales on Thursday, driven by an increase in the number of shoppers who visited stores and made purchases online.


Apple's Cook says he disagrees with Trump, vows donations to rights groups

Reuters / Politics

REUTERS - Apple Inc CEO Tim Cook has joined a chorus of business leaders who have voiced their opposition to President Donald Trump after he blamed white nationalists and anti-racism activists equally for violence in Virginia over the…

Wisconsin lawmakers debate billions in incentives for Foxconn plant

Reuters / Politics

(Reuters) - The Wisconsin State Assembly on Thursday will consider a $3 billion incentive package for a proposed liquid-crystal display factory by Taiwan's Foxconn, the first vote on the deal by a chamber of the state's Republican…


GLOBAL MARKETS-European stocks and bond yields fall after Fed flags weak inflation

Reuters / Markets

LONDON (Reuters) - European stocks and bond yields fell in early trade on Thursday after the Federal Reserve expressed concern over weak U.S. inflation, a trend which has clouded the outlook for the world's largest economy.


Fed's Fischer says move to unwind bank regulation "dangerous" - FT


LONDON (Reuters) - Efforts by the United States government to loosen regulations on banks are "dangerous and extremely short-sighted", one of the U.S. central bank's top policymakers said in an interview with the Financial Times published…


Buffett's Berkshire Hathaway will not increase its Oncor offer


REUTERS - The energy unit of Warren Buffett's Berkshire Hathaway Inc said on Wednesday it will "stand firm" on its $9 billion offer to acquire 80 percent of Oncor Electric Delivery Company LLC and will not increase its offer.


UPDATE 6-Slim's America Movil wins telecom battle in top Mexico court


MEXICO CITY (Reuters) - Mexico's Supreme Court on Wednesday ruled billionaire Carlos Slim's telecommunications company America Movil should not be barred by law from charging competitors certain fees, prompting fears of a rollback of a…


U.S. talks tough on trade deficit as NAFTA discussions begin

Reuters / Markets

WASHINGTON (Reuters) - The United States drew a hard line for renegotiating the North American Free Trade Agreement on Wednesday, demanding major concessions aimed at slashing trade deficits with Mexico and Canada and boosting U.S. content…

REFILE-UPDATE 1-Costco owes Tiffany $19.4 mln for fake Tiffany rings -U.S. judge


NEW YORK (Reuters) - A federal judge on Monday said Tiffany & Co may recover at least $19.4 million in damages from Costco Wholesale Corp over the warehouse club chain's illegal sale of counterfeit diamond engagement rings bearing the …

Fed, split by inflation, should forge on with rate hikes: Mester


In an interview with Reuters, Cleveland Fed President Loretta Mester said she still wants a steady pace of raising interest rates despite some Federal Reserve policymakers' calls to halt interest rate hikes because of recent weak inflation.


Union Pacific to layoff 750 U.S. employees amid broader cost-cutting


(Reuters) - Union Pacific Corp said on Wednesday it will cut roughly 500 management jobs and 250 railroad workers by mid-September as the No. 1 U.S. railroad continues broader cost-cutting.

Cisco's security business revenue misses estimates, shares drop

Reuters / Technology

(Reuters) - Cisco Systems Inc's quarterly revenue in its closely-watched security business missed analysts' estimates, raising concerns about the world's largest networking gear maker's efforts to transform into a software-focused company.

Wednesday, Aug 16


GM's Maven assembling building blocks for ride, delivery services


(Reuters) - General Motors Co's Maven car sharing and rental unit is expanding its partnerships in ride and delivery services as parent GM considers whether to enter the on-demand mobility business now dominated by Uber Technologies and…

UPDATE 2-Seven charged in U.S. insider trading ring


NEW YORK (Reuters) - U.S. authorities on Wednesday announced insider trading charges accusing seven people of generating more than $5 million of profit based on tips from a Bank of America Corp employee about dozens of pending corporate…


Wall Street ends up but off highs after Trump announcement, Fed minutes

Reuters / Finance

NEW YORK (Reuters) - U.S. stocks ended slightly firmer on Wednesday but off the day's highs as worries mounted over President Donald Trump's agenda and minutes from the latest Federal Reserve meeting suggested policymakers are worried…

GLOBAL MARKETS-Stocks close off highs, dollar off on Trump chaos, Fed minutes


LONDON (Reuters) - European shares were on track for their best week since late April on Wednesday, gaining almost 1 percent on forecast-beating growth data, rising metals prices and a weakening euro.

Fed policymakers grow more worried about weak inflation

Reuters / Markets

WASHINGTON (Reuters) - Federal Reserve policymakers appeared increasingly wary about recent weak inflation and some called for halting interest rate hikes until it was clear the trend was transitory, according to the minutes of the U.S.…


UPDATE 2-Carmakers win brief reprieve from lawsuits over faulty Takata air bags


(Reuters) - Automakers on Wednesday won a temporary reprieve from lawsuits filed by victims of defective air bags made by bankrupt Takata Corp that led to the largest-ever auto safety recall and at least 18 deaths.


Ackman says owned stake in Hilton, a previously unnamed bet


BOSTON (Reuters) - Investor William Ackman said on Wednesday his hedge fund had bought and sold a stake in Hilton Worldwide Holdings, identifying the portfolio company that recently earned him a...

Samsung, Foxconn to back cable-free phone tech


(Reuters) - A startup backed by Tony Fadell, one of the fathers of the Apple iPod, plans to announce Wednesday it is working with Samsung Electronics Co Ltd, Foxconn parent Hon Hai Precision Industry Co Ltd and others on a new way for…


UPDATE 1-Ireland says EU demand that Apple pay it 13 bln euros in back taxes unjustified


BERLIN (Reuters) - Ireland's finance minister said the European Commission's demand that Dublin collect up to 13 billion euros ($13.8 bln) in back taxes from Apple was unjustified, in an interview with Germany's Frankfurter Allgemeine (FAZ…

UPDATE 1-Black banker sues Goldman Sachs for racial discrimination


(Reuters) - A black banker in Goldman Sachs Group Inc's personal wealth management unit filed a lawsuit on Wednesday accusing the firm of steering top clients to her white colleagues and denying her promotions because of her race.


UPDATE 3-Target sales, profit boosted by online traffic; raises outlook


(Reuters) - Target Corp on Wednesday reported higher-than-expected quarterly profit and comparable-store sales after four straight quarters of declines as more customers visited its stores and website.

UPDATE 2-Chinese automakers kick tires at FCA, but any deal faces obstacles


HONG KONG (Reuters) - Geely Automobile Holdings Ltd said on Wednesday it was not planning a bid for Fiat Chrysler Automobiles NV , and while other potential Chinese suitors remain any tie-up could face significant U.S. regulatory obstacles.

Walnut whipped out as Nestle introduces nut-free fondants

Reuters / Finance

LONDON (Reuters) - Nestle risked an outbreak of consumer mockery on Wednesday by launching new versions of its popular Walnut Whip candies lacking the nutty ingredient after which they are named.


Merkel reaffirms her million e-vehicles pledge


BERLIN (Reuters) - Chancellor Angela Merkel vowed to speed up Germany's transition to electric vehicles, saying in an interview on Wednesday that efforts would need to be increased if a target of having a million such cars on the roads by…

Sale of Air Berlin slots offers rare German entry ticket


BERLIN/FRANKFURT (Reuters) - Air Berlin's administrators will focus on selling its attractive take-off and landing slots in Germany, a source familiar with the process said, potentially opening up the market to new players.


Tencent to boost AI after profit jumps on mobile games, WeChat

Reuters / Technology

HONG KONG (Reuters) - Tencent Holdings Ltd , China's biggest gaming and social media firm by revenue, trumped forecasts to post its best-ever quarterly results, driven by higher income from smartphone games, payments and online advertising.

Maersk upbeat on shipping outlook, faces hefty cyber attack bill


COPENHAGEN (Reuters) - Denmark's A.P. Moller Maersk gave an upbeat outlook for container shipping on Wednesday, lifting its shares by as much as 4.5 percent as investors looked beyond one-off second-quarter charges and a costly cyber…