Reuters : Business (171)

Euro, bond yields rise on buoyant business surveys

LONDON - The European single currency and euro zone government bond yields rose on Wednesday after a survey showed the bloc's manufacturing businesses clocked up their best month of growth in six-and-a-half years.

True price of an Uber ride in question as investors assess firm's value

SAN FRANCISCO - What is the true cost of an Uber ride?

Lowe's second-quarter profit jumps 21.6 percent

- Lowe's Companies Inc , the No. 2 U.S. home improvement retailer, reported a 21.6 percent rise in quarterly profit on Wednesday as an increase in remodeling activity boosted traffic to its stores.

Asia shares settle after rally, dollar squares losses on Trump comments

TOKYO - Asian stocks steadied on Wednesday, taking a breather after the previous day's surge, lacking the momentum to keep up with a global rally spurred by gains for tech shares on Wall Street and miners in Europe.

Mutual funds mark down investments in Uber by as much as 15 percent

NEW YORK - Four mutual fund companies have marked down their investments in Uber Technologies Inc by as much as 15 percent following a scandal-ridden year for the ride-hailing company.

Asia steadies after rally, dollar buoyant before Jackson Hole

TOKYO - Asian stocks steadied on Wednesday, taking a breather after the previous day's surge and unable to keep up with a global rally spurred by gains for tech shares on Wall Street and miners in Europe.

Asia joins global stocks rally, dollar buoyant before Jackson Hole

TOKYO - Asian stocks edged higher on Wednesday to extend a global rally spurred by gains for tech shares on Wall Street and miners in Europe, while the dollar was buoyant against the euro and yen ahead of a meeting of central bankers later in the week.

North American exodus at PetroChina sparks speculation of company shift

NEW YORK - A flurry of departures across the U.S. and Canadian units of Chinese state energy firm PetroChina Co Ltd have sparked speculation that the oil trader is reducing its presence in North America, even though the company says it is committed to the region.

Wall Street rallies on optimism about tax reform

- U.S. stocks ended up on Tuesday, with each of the three major indexes posting their best one-day percentage gains in over a week, as lawmakers' comments on tax reform and the debt ceiling boosted investor optimism.

As tax debate heats up, Republicans tweak business interest plan

WASHINGTON - Congressional Republicans, seeking to address the complaints of small businesses, are floating changes to their controversial proposal to eliminate business tax deductions for debt interest payments, business lobbyists said on Tuesday.

Massive California verdict expands J&J's talc battlefield

NEW YORK - A massive California verdict in a lawsuit alleging Johnson & Johnson's talc-based products cause cancer has opened a new front in the litigation, upending the company's hopes that the cases were only gaining traction in Missouri, legal experts said.

Chevron CEO Watson to step down, Wirth likely successor: source

HOUSTON - Chevron Corp Chief Executive John Watson will step down by the end of next month and likely be replaced by Vice Chairman Mike Wirth, a source familiar with the matter told Reuters on Tuesday.

Google touts Titan security chip to market cloud services

SAN FRANCISCO - Alphabet Inc's Google this week will disclose technical details of its new Titan computer chip, an elaborate security feature for its cloud computing network that the company hopes will enable it to steal a march on Amazon.com Inc and Microsoft Corp .

Wall Street bounces back with gains in tech stocks

- U.S. stocks were higher in early afternoon trading on Tuesday, with all the three major indexes poised for their best one-day percentage gains in more than a week, led by technology stocks.

U.S. targets Chinese, Russia entities for helping North Korea

WASHINGTON - The United States on Tuesday imposed new North Korea-related sanctions, targeting Chinese and Russian firms and individuals for supporting Pyongyang's weapons programs, but stopped short of an anticipated focus on Chinese banks.

Chevron CEO Watson to step down by next month: source

HOUSTON - Chevron Corp Chief Executive John Watson will step down by next month and likely be replaced by Vice Chairman Mike Wirth, a source familiar with the matter told Reuters on Tuesday.

Berkshire Hathaway no longer faces risk of S&P downgrade

- Warren Buffett's failure to clinch a $9 billion takeover of the Texas utility Oncor prompted S&P Global Ratings on Tuesday to say the billionaire's Berkshire Hathaway Inc is no longer at risk of a credit rating downgrade.

Blackstone explores IPO of Gates Global: sources

- Private equity firm Blackstone Group LP is exploring an initial public offering of Gates Global LLC, three years after it acquired the U.S. auto parts and building products maker for $5.4 billion, people familiar with the matter said on Tuesday.

Fed banks unanimous in keeping discount rate unchanged in July: minutes

WASHINGTON - All of the Federal Reserve's 12 regional banks wanted to hold steady the rate commercial banks are charged for emergency loans ahead of the U.S central bank's last policy meeting, minutes from a discussion of the discount rate showed on Tuesday.

Great Wall says watching Fiat Chrysler; no talks yet

HONG KONG/SHANGHAI - Chinese automaker Great Wall Motor Co Ltd reiterated its interest in Fiat Chrysler Automobiles NV on Tuesday, but said it had not held talks or signed a deal with executives at the Italian-American automaker.

Threat of price war clouds horizon for Maersk shipping business

COPENHAGEN - A.P. Moller-Maersk has been fortified by the $7.5 billion sale of its oil and gas business to France's Total, but the company's main sea freight business faces the threat of a new price war in a consolidating industry.

Brazil sees Eletrobras privatization boosting sector, shares soar

BRASILIA/RIO DE JANEIRO - Brazil's plan to privatize power holding company Centrais El├ętricas Brasileiras SA could help lure investment into the industry rather than simply help cut the budget deficit, officials said on Tuesday as the move sparked a surge in shares of state-controlled firms.

Wall Street gains as investors pick beaten-down stocks

- U.S. stocks opened higher on Tuesday, with the Dow gaining more than 100 points, as investors went bargain hunting following a turbulent two weeks, while awaiting the annual central bankers meeting in Jackson Hole later this week.

European stocks break three-day losing streak

LONDON - European stocks broke a three-day losing streak on Tuesday, building on gains in other markets and boosted by rising commodity prices.

Wall Street set to open higher as investors go bargain hunting

- U.S. stocks were set to open higher on Tuesday as investors picked up beaten-down stocks following a turbulent two weeks, while awaiting the annual central bankers meeting in Jackson Hole later this week.

Hyundai will launch pickup, more SUVs to reverse U.S. sales slide

DETROIT/SEOUL - Hyundai Motor plans to launch a pickup truck in the United States as part of a broader plan to catch up with a shift away from sedans in one of the Korean automaker's most important markets, a senior company executive told Reuters.

Great Wall Motor says it has not contacted Fiat Chrysler's board

HONG KONG - Chinese automaker Great Wall Motor Co Ltd has not contacted Fiat Chrysler Automobiles NV's board nor has it signed any agreements with the Italian-American automaker, it said on Tuesday.

Brazil to sell Eletrobras control in boldest privatization yet

SAO PAULO/BRASILIA - Brazil on Monday floated a proposal to cede control of the country's biggest power utility, Eletrobras, in the boldest privatization yet by a government struggling to close a record budget deficit, sending Eletrobras' shares soaring in after-market trading.

EU Commission starts in-depth probe of Bayer, Monsanto deal

BRUSSELS - The European Commission said on Tuesday it had started an in-depth investigation of Bayer's planned $66 billion takeover of U.S. seeds group Monsanto , saying it was worried about competition in pesticide and seeds markets.

Nestle, Unilever, Tyson and others team with IBM on blockchain

CHICAGO/NEW YORK, - Nestle SA , Unilever Plc , Tyson Foods Inc and other large food and retail companies have joined IBM's project to explore how blockchain technology can help track food supply chains and improve safety, the companies said in a joint statement on Tuesday.

European stocks break three-day losing streak

LONDON - European stocks broke a three-day losing streak on Tuesday, building on gains in other markets boosted by signs of a global economic recovery and rising commodity prices.

Homebuilder Toll Brothers' profit rises 40.8 percent

- U.S. luxury homebuilder Toll Brothers Inc reported a 40.8 percent rise in quarterly profit, helped by strong demand for its homes in an improving job market.

Ford, China's Zotye Auto plan JV to build electric vehicles

SHANGHAI - Ford Motor is exploring setting up a joint venture with Chinese firm Anhui Zotye Automobile Co to build electric passenger vehicles in China under a new brand, tapping into a boom for such vehicles in the world's top auto market.

South Korea, U.S. fail to reach agreement on possible revision to FTA deal

SEOUL - South Korean and U.S. officials failed to agree on Tuesday on how to move forward on discussions over their five-year-old free trade agreement that Washington is seeking to change to help cut its trade deficit with Asia's fourth-largest economy.

Asian shares ride metals gains, stronger Wall Street

TOKYO - Asian shares rose on Tuesday after modest gains on Wall Street, while robust metals prices underpinned some regional markets even as investors remained wary ahead of the annual central banking conference in Jackson Hole later this week.

Asian shares edge up, bolstered by modest gains on Wall Street

TOKYO - Asian shares edged higher on Tuesday, taking solace from modest gains on Wall Street even as investors remained wary ahead of the annual central banking conference in Jackson Hole later this week.

S&P 500 index gains after recent selloff; energy stocks fall

- The benchmark U.S. S&P 500 stock index ended up slightly on Monday after two days of declines, though a drop in oil prices weighed on energy shares and tensions between the United States and North Korea kept investors on edge.

Sempra Energy to buy Oncor for $9.45 billion in blow to Berkshire

- Utility Sempra Energy said on Monday that it would buy Oncor for $9.45 billion in cash after majority owner Energy Future Holdings Corp abandoned a deal to sell the power transmission company to Warren Buffett's Berkshire Hathaway Inc.

J&J ordered to pay $417 million in trial over talc cancer risks

- A California jury on Monday ordered Johnson & Johnson to pay $417 million to a woman who claimed she developed ovarian cancer after using the company's talc-based products like Johnson's Baby Powder for feminine hygiene.

Hedge fund manager Dalio cuts risk amid worries about Washington

BOSTON - Billionaire investor Ray Dalio, who has been expressing concerns about President Donald Trump in recent months, said on Monday he was cutting some of his exposure during a time of growing political and economic divisions.

Macy's to restructure merchandising unit, cut 100 jobs

- Department store chain Macy's Inc said on Monday it would restructure its merchandising operations, which could result in about 100 job cuts.

ADP rejects new board candidates, Ackman fires back

- Automatic Data Processing Inc on Monday rejected billionaire investor William Ackman's three proposed board candidates, sparking more criticism from the hedge fund manager who is trying to shake up the human resources outsourcing firm.

China's Great Wall confirms interest in Fiat Chrysler

SHANGHAI/WASHINGTON - A direct overture by Chinese automaker Great Wall Motor Co Ltd to Italian-American automaker Fiat Chrysler Automobiles NV sent FCA shares up sharply on Monday, as investors cheered the potential sale of the storied Jeep brand.

Citigroup taps Goldman activist defense banker for global role

NEW YORK - Citigroup named Muir Paterson to head the bank's global team of bankers advising companies on activist shareholders, the bank announced on Monday.

Lockheed wins $427 million U.S. defense contract: Pentagon

WASHINGTON - Lockheed Martin Corp and its Lockheed Martin Aeronautics Co subsidiary are being awarded a $427 million order for ancillary military equipment and pilot flight equipment for some F-35 Joint Strike Fighter aircraft, the Pentagon said in a statement on Monday.

Wall Street flat as North Korea worries remain; energy a drag

- U.S. stocks were little changed on Monday as simmering tensions between the United States and North Korea kept investors on edge, while a drop in oil prices weighed on energy shares.

J&J ordered to pay $417 million in trial over talc cancer risks

- Johnson & Johnson on Monday was ordered by a California jury to pay $417 million to a woman who claimed she developed ovarian cancer after using the company's talc-based products like Johnson's Baby Powder for feminine hygiene.

China's Great Wall confirms interest in Fiat Chrysler

SHANGHAI/BEIJING - Great Wall Motor Co Ltd is interested in Fiat Chrysler Automobiles , an official from the Chinese company said, confirming reports it is pursuing all or part of the owner of the Jeep and Ram truck brands.

U.S. funds get tougher on climate and diversity, but not CEO pay

BOSTON - Even as top U.S. asset managers BlackRock Inc and State Street Corp pressed companies on climate and diversity issues this year, they made few waves on another area of corporate governance: CEO pay.

U.S. workers have low hopes for higher pay: Fed survey

NEW YORK - U.S. workers see little hope for higher paychecks, and while they are increasingly searching for new jobs, they expect fewer offers to fall into their laps, according to a Federal Reserve survey published on Monday.