Reuters Business News

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Updated: 39 min 12 sec ago

Deutsche Bank and Commerzbank merger talks are expected to fail: source

49 min 13 sec ago
Merger talks between Germany's top two lenders, Deutsche Bank and Commerzbank, are expected to end in failure, a person with knowledge of the matter said on Thursday.
Categories: Financial Media

Royal Bank of Scotland CEO McEwan resigns after more than five years

54 min 44 sec ago
Royal Bank of Scotland plc is searching for a new chief executive after Ross McEwan resigned, signaling a fresh start as it heads for full private ownership after a state bailout.
Categories: Financial Media

China's bankers in uncharted waters as Shanghai launches U.S.-style tech board

58 min 25 sec ago
As Chinese investment banker Liu Guangfu prepares to file an application for his client to list on Shanghai's Nasdaq-style technology board, he is heading into uncharted waters: how to price the new shares and sell them to the right investors.
Categories: Financial Media

Bayer gets Monsanto profit boost but legal burden mounts

1 hour 6 min ago
German drug and farming supplies company Bayer posted a 45 percent gain in quarterly core earnings thanks to the acquisition of seed maker Monsanto, while the legal burden it took on with the deal mounted.
Categories: Financial Media

Swedbank admits anti-money laundering failings, cooperating with U.S. authorities

1 hour 18 min ago
Swedbank admitted to previous shortcomings in combating money laundering on Thursday and said it was cooperating with investigating authorities, including in the United States.
Categories: Financial Media

PSA revenues hit by decline in overseas sales and pullout from Iran

1 hour 19 min ago
Peugeot maker PSA Group reported a 1.1 percent decline in revenue, as falling overseas sales outweighed pricing improvements in the first quarter.
Categories: Financial Media

Gucci owner Kering close to settling Italian tax case for 1.3 to 1.4 billion euros: sources

1 hour 32 min ago
French luxury group Kering is close to agreeing to pay between 1.3 billion and 1.4 billion euros ($1.5-1.6 billion) to settle a dispute with Italian authorities over unpaid taxes by its fashion brand Gucci, three sources told Reuters on Thursday.
Categories: Financial Media

Nokia reports surprise first quarter loss, sees pressure in second half

2 hours 29 min ago
Finnish telecom network equipment maker Nokia reported a surprise quarterly loss on Thursday, citing hard competition in its core networks business.
Categories: Financial Media

Ex-Nissan boss Ghosn to walk free again after posting $4.5 million bail

4 hours 4 min ago
Former Nissan Motor Chairman Carlos Ghosn was set to walk out of a Japanese detention center for a second time since his arrest last year on financial misconduct charges, after posting the $4.5 million bail set by a Tokyo court on Thursday.
Categories: Financial Media

Asian shares slip; German, Korean data hurt risk appetite

4 hours 16 min ago
Asian shares slipped on Thursday as a surprise deterioration in German and South Korean economic data rekindled fears of slowing global growth, while oil prices pulled back slightly after a sharp run-up earlier in the week.
Categories: Financial Media

Panasonic may upgrade Japan plant to make advanced Tesla batteries: source

4 hours 36 min ago
Panasonic Corp may upgrade one of its battery plants in Japan to produce advanced-format battery cells for Tesla Inc if needed by the U.S. electric vehicle (EV) maker, a person familiar with the matter told Reuters on Thursday.
Categories: Financial Media

SoftBank invests $125 million in Alphabet venture to put cellphone antennas in the sky

5 hours 35 min ago
A SoftBank Corp business seeking to find a way to fly cellphone antennas high in the atmosphere to provide internet in underserved areas said on Wednesday it was investing $125 million in an Alphabet Inc spinoff working on the same problem.
Categories: Financial Media

Asian shares dip; euro weighed by sagging German business morale

7 hours 2 min ago
Asian shares slipped on Thursday as a surprise deterioration in German business morale rekindled fears of slowing global growth, while oil prices pulled back slightly after a sharp run-up earlier in the week.
Categories: Financial Media

Microsoft tops $1 trillion as it predicts more cloud growth

7 hours 30 min ago
Microsoft Corp on Wednesday briefly topped $1 trillion in value for the first time after executives predicted continued growth for its cloud computing business.
Categories: Financial Media

Tesla's Musk 'sees merit' in capital raise, vows profit in third quarter after large loss

7 hours 33 min ago
Tesla Inc Chief Executive Elon Musk suggested on Wednesday a capital raise could be imminent, as the electric vehicle maker lost $700 million in the first quarter and predicted a return to profit in the third.
Categories: Financial Media

Chipotle beats profit, revenue estimates as online sales surge

7 hours 52 min ago
Chipotle Mexican Grill Inc beat Wall Street estimates for quarterly revenue and profit on Wednesday, as the restaurant chain's marketing efforts and aggressive investments in online ordering and deliveries attracted more customers.
Categories: Financial Media

Thailand set to be Southeast Asia's hottest IPO market with $5 billion of planned second half floats

7 hours 56 min ago
Thailand is set to see the most funds raised from IPOs in Southeast Asia this year, with more than $5 billion expected to be garnered in the second half, sources said, as a tourist boost to the economy trumps jitters stoked by inconclusive elections.
Categories: Financial Media

Tesla solar installations slide 36 percent in first quarter

8 hours 24 min ago
Tesla Inc on Wednesday reported a 36 percent slide in solar installations and said it had implemented a new selling strategy months after ending a partnership to sell the rooftop systems in busy Home Depot stores.
Categories: Financial Media

Tesla promises return to profit in third quarter after first-half losses

Wed, 04/24/2019 - 23:24
Tesla Inc lost $700 million in the first quarter but predicted it would return to profit in the third quarter as it cuts costs and improves delivery after facing issues ramping up shipments outside the United States.
Categories: Financial Media

Walmart creates Angus beef supply chain, cutting out meat processors

Wed, 04/24/2019 - 23:11
Walmart Inc is taking control of the supply chain for Angus beef sold in some of its stores, cutting out meat processors as the company looks to offer higher quality products in an intensely competitive grocery industry.
Categories: Financial Media