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Updated: 16 min 48 sec ago

Exclusive: GM, DHL use a Chinese plant to lead manufacturing change

Tue, 01/16/2018 - 11:19pm
LIUZHOU, China,  (Reuters) - Inside General Motors Co's vehicle assembly plant in this southern China city, many workers wear the red-and-yellow uniforms of DHL, the logistics company.

Bitcoin falls more than 7 percent as regulation worries mount

Tue, 01/16/2018 - 11:03pm
TOKYO (Reuters) - The price of bitcoin extended its sharp tumble of the past 24 hours, dropping more than seven percent on the Bitstamp exchange on Wednesday, spooked by worries regulators may try to clamp down on the highly-volatile trading in the digital currency.

Japan central bank to keep policy on hold, offer upbeat inflation view

Tue, 01/16/2018 - 10:22pm
TOKYO (Reuters) - Japan's central bank is set to maintain upbeat price forecasts next week and paint a slightly better picture of the economy than it did three months ago, signaling its conviction the country is making slow but steady progress in eradicating deflation.

Top Walmart executive to be appointed International CEO: source

Tue, 01/16/2018 - 9:08pm
(Reuters) - Wal-Mart Stores Inc Chief Operating Officer Judith McKenna will take up the role of chief executive of its international unit, according to a source with knowledge of the matter.

Miramax bid for Weinstein Co. complicates sale process: LA Times

Tue, 01/16/2018 - 8:35pm
(Reuters) - An attempt by Qatar-owned film company Miramax to buy Weinstein Co. has complicated plans to sell the studio to a group of investors led by former Obama administration official Maria Contreras-Sweet, the Los Angeles Times reported on Tuesday, citing people familiar with the matter.

Ford gives disappointing outlook, says turnaround to take years

Tue, 01/16/2018 - 8:33pm
DETROIT (Reuters) - Ford Motor Co on Tuesday estimated financial results for 2017 and 2018 that fell short of investor expectations, in a downbeat forecast that contrasted with a more positive outlook from rival automaker General Motors Co .

Asian shares dip as commodities ease, bitcoin licks wounds

Tue, 01/16/2018 - 8:14pm
TOKYO (Reuters) - Asian stocks stepped back from a record high on Wednesday as the region's resource shares were dented by falling oil and commodity prices while digital currencies tumbled on worries about tighter regulations.

Automakers, U.S. lawmakers hope for progress on self-driving car bill

Tue, 01/16/2018 - 6:30pm
DETROIT (Reuters) - Automakers and lawmakers expressed hope on Tuesday that U.S. Congress would soon pass a stalled bill aimed at speeding self-driving cars to market, even as safety advocates argued for more performance requirements.

Bitcoin falls 25 percent to $10,200 on Bitstamp exchange

Tue, 01/16/2018 - 5:50pm
SYDNEY (Reuters) - Bitcoin had lost a quarter of its value in early Asian trading on Wednesday as fears grew of a regulatory crackdown after reports that South Korea's finance minister said banning trading in cryptocurrencies was still an option.

GE reignites break-up talk after $11 billion insurance, tax hit

Tue, 01/16/2018 - 5:39pm
NEW YORK (Reuters) - General Electric Co indicated it is looking closely at breaking itself up on Tuesday as the conglomerate announced more than $11 billion in charges from its long-term care insurance portfolio and new U.S. tax laws.

Ford's 2017 profit misses Wall Street estimates

Tue, 01/16/2018 - 5:30pm
(Reuters) - Ford Motor Co on Tuesday reported 2017 preliminary adjusted earnings that missed market estimates, while its 2018 earnings forecast largely fell short of analysts' expectations.

Railroad operator CSX's revenue misses as shipments fall

Tue, 01/16/2018 - 4:40pm
(Reuters) - CSX Corp reported lower-than-expected revenue for the fourth quarter due to a drop in shipments, but beat Wall Street's earnings targets on better prices and cost controls, capping a tumultuous year for the third-largest U.S. railroad operator.

NYSE to launch new NYSE National exchange in second quarter

Tue, 01/16/2018 - 4:39pm
NEW YORK (Reuters) - New York Stock Exchange parent Intercontinental Exchange Inc (ICE) plans to launch its fourth U.S. stock market, NYSE National, in the second quarter, according to a recent regulatory filing.

Wall St. eases as oil prices, General Electric fall

Tue, 01/16/2018 - 4:35pm
NEW YORK (Reuters) - Wall Street paused its rally on Tuesday, weighed down by weakness in General Electric shares and as lower oil prices dragged down the energy sector.

Exclusive: Mexico's Pemex chose Japan's Mitsui to complete Tula coking plant - sources

Tue, 01/16/2018 - 4:29pm
MEXICO CITY (Reuters) - Mexican state oil company Pemex [PEMX.UL] has chosen Japanese conglomerate Mitsui as its partner for a $2.6 billion coking plant project at its Tula refinery in a preliminary deal, two sources told Reuters this week.

Wells Fargo loses bid to end Philadelphia predatory lending lawsuit

Tue, 01/16/2018 - 3:28pm
(Reuters) - A federal judge in Philadelphia on Tuesday rejected Wells Fargo & Co's bid to dismiss that city's lawsuit accusing the largest U.S. mortgage lender of predatory lending targeting black and Hispanic borrowers.

Wall St. eases on lower oil prices

Tue, 01/16/2018 - 3:20pm
NEW YORK (Reuters) - Wall Street's major stock indexes pared gains in late afternoon trading on Tuesday as lower oil prices weighed on the energy sector.

GE renews break-up talk after $11 billion insurance, tax hit

Tue, 01/16/2018 - 2:50pm
(Reuters) - General Electric Co again raised the prospect of breaking up the conglomerate on Tuesday as it announced more than $11 billion in charges from its long-term care insurance portfolio and new U.S. tax laws.

Health-conscious Nestle sells U.S. candy to Ferrero for $2.8 billion

Tue, 01/16/2018 - 2:35pm
LONDON/MILAN (Reuters) - Swiss food group Nestle has agreed to sell its U.S. confectionery business to Italy's Ferrero for $2.8 billion, it said on Tuesday, marking CEO Mark Schneider's first big sale and a small step on its path towards healthier products.

Dow hits 26,000 for first time on earnings optimism

Tue, 01/16/2018 - 1:19pm
(Reuters) - The Dow Jones Industrial Average raced past the 26,000 mark for the first time on Tuesday as fourth-quarter earnings season got off to a strong start following upbeat results from UnitedHealth and Citigroup.