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Updated: 48 min 53 sec ago

Hedge fund stung by unusual ruling over Sprint-Clearwire deal

Fri, 07/21/2017 - 12:49pm
WILMINGTON, Del (Reuters) - A Delaware judge ruled Friday that wireless carrier Clearwire Corp was sold in 2013 for more than twice its fair value, a decision that dealt a stinging loss to the Aurelius Capital Management hedge fund which spent years battling to prove Clearwire was vastly underpriced.

Global pizza brands battle for Russia's far-flung regions

Fri, 07/21/2017 - 11:55am
MOSCOW (Reuters) - Global pizza brands Domino's and Papa John's are preparing an assault on Russia's provinces, betting they can turn a profit far from Moscow as online card payments become more widespread and consumers get to know foreign brands better.

Ford to petition to avoid recall of 2.2 million vehicles

Fri, 07/21/2017 - 11:38am
WASHINGTON, (Reuters) - Ford Motor Co will petition to avoid an immediate recall of about 2.2 million vehicles with Takata air-bag inflators that the Japanese auto supplier declared defective last week, U.S. regulators and the automaker said Friday.

Freeport Indonesia mine workers extend strike for fourth month

Fri, 07/21/2017 - 10:39am
JAKARTA/TORONTO (Reuters) - An estimated 5,000 workers at the giant Grasberg copper mine operated by Freeport-McMoRan Inc's Indonesian unit will extend their strike for a fourth month, a union official said on Friday, in an ongoing dispute over layoffs and employment terms.

After false dawn, Big Oil to double down on cost cuts

Fri, 07/21/2017 - 10:31am
LONDON (Reuters) - After a brief respite at the start of the year, the world's top oil and gas companies are set to double down on cost cutting as a recovery in crude prices after a three-year slump falters.

Honeywell beats profit estimates, raises full-year forecasts

Fri, 07/21/2017 - 9:29am
(Reuters) - Honeywell International Inc reported a better-than-expected quarterly profit, as sales in its aerospace unit and the business that caters to the energy industry were not as bad as it had feared.

Bank of America picks Dublin as EU hub post Brexit

Fri, 07/21/2017 - 9:24am
LONDON (Reuters) - Bank of America has become the first Wall Street bank to pick Dublin to be its new base for its European Union operations as Britain prepares to leave the bloc, the firm said in a statement on Friday.

German automakers may have colluded over diesel emissions treatment systems: Spiegel

Fri, 07/21/2017 - 8:21am
FRANKFURT (Reuters) - Germany's carmakers VW , BMW , Audi, Porsche may have colluded to fix the prices of diesel emissions treatment systems using industry committees, German magazine Der Spiegel reported on Friday.

Wanted: Housewives to beat staff crunch at Japan's FamilyMart

Fri, 07/21/2017 - 8:01am
TOKYO (Reuters) - Japan's second-largest convenience store chain hopes it has found an answer to its labor problems - housewives.

MasterCard says $18 billion British class action lawsuit blocked

Fri, 07/21/2017 - 7:50am
LONDON (Reuters) - A 14 billion pound ($18 billion) class action lawsuit against MasterCard for allegedly overcharging more than 45 million people in Britain over a 16-year period was blocked from proceeding by a judge, MasterCard said on Friday.

GE quarterly revenue drops 12 percent; cash flow up on quarter

Fri, 07/21/2017 - 7:18am
(Reuters) - General Electric Co reported a 12 percent drop in revenue for the second quarter, as weakness in its energy connections business offset strength in renewables and power units.

Futures slightly lower on earnings from industrial giants

Fri, 07/21/2017 - 7:18am
(Reuters) - U.S. stock index futures were slightly lower on Friday, but continued to hover around record levels, as investors took cues from earnings reports of industrial heavyweights General Electric and Honeywell.

UK sidelined as Europe looks beyond Brexit in aerospace

Fri, 07/21/2017 - 6:34am
PARIS (Reuters) - Britain risks losing clout in the aerospace industry, one of its largest skilled employers, due to concerns over its departure from the European Union, a corporate overhaul at Airbus and a new Franco-German push on defense, industry insiders say.

Audi to recall 850,000 diesel cars to update emissions software

Fri, 07/21/2017 - 6:30am
FRANKFURT (Reuters) - Luxury car maker Audi has launched a recall for up to 850,000 diesel-fueled cars to update vehicle software controlling emissions in a bid to avoid potential driving bans, it said on Friday.

French banks could create 1,000 jobs in Paris post-Brexit: lobby

Fri, 07/21/2017 - 6:13am
PARIS (Reuters) - French banks could shift about 1,000 jobs currently based in London to Paris to keep staff in the European Union after Britain exits the EU, said the French Banking Federation.

Show and sell: shift in global ad spending boosts events firms

Fri, 07/21/2017 - 5:38am
BENGALURU (Reuters) - Organizers of conferences and trade shows are benefiting from a shift in the way marketing budgets are allocated, with companies spending less on advertising and more on events that allow them to connect directly with customers.

AstraZeneca CEO reassures staff, aims to be at September cancer meet

Fri, 07/21/2017 - 3:28am
LONDON (Reuters) - AstraZeneca Chief Executive Pascal Soriot, responding to rumors he might leave the drugmaker to join rival Teva Pharmaceutical Industries, has told staff he expects to work "together" with employees to see the company succeed.

Siemens to exit Russian power-plant JV Interautomatika

Fri, 07/21/2017 - 2:34am
FRANKFURT (Reuters) - German industrial group Siemens will exit its Russian power-plant joint venture Interautomatika in light of a scandal that saw four gas turbines it sold for use in Russia turn up in Crimea, a region subject to EU sanctions, it said on Friday.

Chinese courier ZTO sued for "untrue statements" in $1.4 billion U.S. IPO

Thu, 07/20/2017 - 11:44pm
SHANGHAI (Reuters) - Chinese courier ZTO Express and the underwriters of its New York stock market listing have been sued by a U.S. pension fund that alleges the firm exaggerated its profit margins to lure investors into its $1.4 billion initial public offering.

Euro at two-year high, Asian shares barely budge

Thu, 07/20/2017 - 8:52pm
TOKYO (Reuters) - The euro held near two-year highs against the dollar on Friday after the head of the European Central Bank said tapering of its stimulus will be on the table this autumn, while a solid global economic outlook kept Asian share prices near decade highs.

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