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Updated: 40 min 42 sec ago

Oil prices face second weekly loss as oversupply lingers

Thu, 04/27/2017 - 9:34pm
SINGAPORE (Reuters) - Oil prices stabilized on Friday but were on track for a second straight weekly loss on concerns that an OPEC-led production cut has failed to significantly tighten an oversupplied market.

Asian stocks tick up, euro subdued as ECB maintains easing bias

Thu, 04/27/2017 - 9:07pm
SINGAPORE (Reuters) - Asian stocks inched higher on Friday and looked set to close a strong week on a positive note, while the euro slipped after the European Central Bank showed no signs of paring its stimulus program.

Wells Fargo overhauls lawmaking and policy arm

Thu, 04/27/2017 - 6:45pm
(Reuters) - Wells Fargo & Co is making several changes to its government relations and public policy unit in what its new leader said was a response to its steady growth since the financial crisis.

Berkshire's Duracell sues over gray market battery imports

Thu, 04/27/2017 - 6:18pm
(Reuters) - Duracell, a unit of Warren Buffett's Berkshire Hathaway Inc , on Thursday filed a lawsuit accusing a Missouri wholesaler of illegally selling gray market versions of its copper-top alkaline batteries.

Third Point likes opportunities in Europe: letter

Thu, 04/27/2017 - 5:43pm
NEW YORK (Reuters) - Hedge fund manager Daniel Loeb told investors on Thursday that his $16 billion hedge fund Third Point saw more opportunities in Europe and was positioned to absorb a modest sell-off in U.S. stocks.

Boeing seeks U.S. anti-dumping probe against CSeries jet

Thu, 04/27/2017 - 5:41pm
PARIS/NEW YORK (Reuters) - Boeing Co said on Thursday it had asked the U.S. Commerce Department for an investigation into alleged subsidies and unfair pricing for Canadian planemaker Bombardier's CSeries airplane.

Uber's Levandowski to step aside amid Waymo litigation

Thu, 04/27/2017 - 5:15pm
(Reuters) - Uber Technologies Inc [UBER.UL] said the head of its self-driving vehicles unit, Anthony Levandowski, will step aside from his role for the remainder of the company's litigation with Waymo, the self-driving car division of Alphabet Inc .

Amazon's first-quarter profit, revenue beat estimates

Thu, 04/27/2017 - 4:52pm
(Reuters) - Amazon.com Inc on Thursday reported first-quarter revenue and profit above expectations as sales at its retail and cloud-computing businesses increased, sending shares up more than 4 percent in extended trading.

Google parent Alphabet's profit soars on strong ad sales

Thu, 04/27/2017 - 4:48pm
(Reuters) - Google parent Alphabet Inc posted a 29 percent rise in quarterly profit, driven by a surge in advertising on mobile and its popular YouTube video service.

Microsoft's quarterly revenue falls short of estimates

Thu, 04/27/2017 - 4:46pm
(Reuters) - Microsoft Corp on Thursday reported quarterly revenue that slightly missed analysts' estimates, as robust demand for its cloud computing services failed to offset weak growth in its personal computing division.

Starbucks profit meets Wall Street view, shares fall

Thu, 04/27/2017 - 4:35pm
LOS ANGELES (Reuters) - Starbucks Corp reported quarterly profit that matched Wall Street's estimate on Thursday, but shares fell 3.4 percent in extended trading after spending growth by customers in its core U.S. market cooled.

United Airlines reaches settlement with passenger dragged from plane

Thu, 04/27/2017 - 3:46pm
(Reuters) - United Airlines has a reached a settlement for an undisclosed sum with the passenger who was dragged from a Chicago flight earlier this month in an incident that sparked international outrage, an attorney for the passenger said on Thursday.

Iran says potential deal for early jet delivery falls through

Thu, 04/27/2017 - 3:45pm
ANKARA (Reuters) - IranAir has abandoned plans to take early delivery of a Boeing 777-300ER jetliner because the passenger plane is no longer available, the head of the Islamic Republic's national flag carrier was quoted as saying by Iranian media.

Goldman hopes high rates will lure consumers to online bank

Thu, 04/27/2017 - 3:30pm
(Reuters) - Goldman Sachs Group Inc plans to promote its high-interest bearing deposit products in a marketing push to consumers later this year as it looks to grow its online bank, Chief Strategy Officer Stephen Scherr said in an interview on Thursday.

JPMorgan Chase & Co leaves blockchain consortium R3: sources

Thu, 04/27/2017 - 2:27pm
NEW YORK (Reuters) - JPMorgan Chase & Co has left the mammoth bank blockchain consortium led by New York-based startup R3 CEV, as financial institutions refine their strategies around the nascent technology, according to sources familiar with the plans.

MetLife to invest $1 billion in tech to reach cost-savings goals

Thu, 04/27/2017 - 2:03pm
NEW YORK (Reuters) - MetLife Inc plans to invest $1 billion in an efficiency program through 2019 that will eventually reduce annual operating costs by around $800 million, the insurer said on Thursday.

Alphabet CEO touts results of corporate restructuring

Thu, 04/27/2017 - 1:28pm
(Reuters) - Alphabet Chief Executive Larry Page said on Thursday the holding company structure for search unit Google and a host of new businesses is working well.

Utilities say Westinghouse loan puts their reactor construction at risk

Thu, 04/27/2017 - 12:33pm
WILMINGTON, Del (Reuters) - The owners of one of the first new U.S. nuclear power plants in decades said the half-finished reactors might not be completed without changes to a proposed $800 million loan to the bankrupt builder, Westinghouse Electric Co LLC.

Manufacturers, Wall Street getting Trump's ear in first 100 days

Thu, 04/27/2017 - 12:29pm
WASHINGTON (Reuters) - Manufacturers and Wall Street have led the quest for business access to President Donald Trump in his first 100 days in office, with media companies and Silicon Valley seldom entering the presidential bubble, a Reuters review found.

Exclusive: Tesla's Klaus Grohmann ousted after clash with CEO Musk - sources

Thu, 04/27/2017 - 12:27pm
FRANKFURT (Reuters) - Tesla executive Klaus Grohmann was ousted last month after a clash with Chief Executive Elon Musk over the strategy of Grohmann's firm, which Tesla had acquired in November, a source familiar with the matter told Reuters.

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