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Updated: 40 min 31 sec ago

Asian shares retreat from highs after Trump tax plan

Wed, 04/26/2017 - 8:39pm
TOKYO (Reuters) - Asian shares ticked down from near two-year high on Thursday after a long-awaited U.S. tax plan failed to inspire investors, though sentiment remains supported by global growth prospects and receding worries about political risks in Europe.

Samsung Electronics sees stronger earnings from chips, phones after first-quarter profit jump

Wed, 04/26/2017 - 8:15pm
SEOUL (Reuters) - Tech giant Samsung Electronics Co Ltd on Thursday said it expected earnings to further improve in the current quarter, after it reported its best quarterly profit since 2013 thanks to a memory chip boom.

Shares in Takata suspended after reported bankruptcy filing plan

Wed, 04/26/2017 - 7:59pm
TOKYO (Reuters) - Trading in shares of Japan's Takata Corp was suspended on Thursday after a newspaper report that the embattled auto parts maker was considering filing for bankruptcy protection, selling all operations to a newly created company.

BlackRock to pay $1.5 million to settle SEC charges over Russian ETF

Wed, 04/26/2017 - 5:42pm
WASHINGTON (Reuters) - A unit of asset manager BlackRock Inc will pay $1.5 million to settle a complaint that it launched a Russian exchange-traded fund without proper regulatory approval, according to U.S. regulators.

UPS wins $2.35 billion U.S. defense contract: Pentagon

Wed, 04/26/2017 - 5:26pm
WASHINGTON (Reuters) - United Parcel Service Co was awarded a five-year $2.35 billion contract, the Pentagon said on Wednesday.

Companies cheer Trump tax cuts, but jobs are less certain to follow

Wed, 04/26/2017 - 5:21pm
(Reuters) - U.S. businesses would reap a windfall if President Donald Trump's plan to cut corporate tax rates and slash taxes on cash parked overseas becomes law, but it was unclear whether they would stimulate a surge in investment and job creation in return.

Fedex wins $2.35 billion U.S. defense contract: Pentagon

Wed, 04/26/2017 - 5:20pm
WASHINGTON (Reuters) - Federal Express Corp was awarded a five-year $2.35 billion contract, the Pentagon said on Wednesday.

Digital ad spend jumps 22 percent to $72.5 billion in 2016: report

Wed, 04/26/2017 - 4:51pm
(Reuters) - Marketers spent $72.5 billion on digital advertising last year, an increase of 22 percent from 2015, as Google and Facebook once again booked the lion's share of new revenue, a report released by the Interactive Advertising Bureau said on Wednesday.

Cost controls help offset lower Amgen first-quarter drug sales

Wed, 04/26/2017 - 4:39pm
(Reuters) - Amgen Inc on Wednesday reported higher-than-expected first-quarter profit as cost controls helped offset a sharp drop in sales of Enbrel, its blockbuster rheumatoid arthritis and psoriasis drug.

PayPal's profit, revenue beat on higher processing volumes

Wed, 04/26/2017 - 4:38pm
(Reuters) - Payment processor PayPal Holdings Inc reported higher-than-expected quarterly profit and revenue on Wednesday, helped by an increase in payment processing volumes and customer additions.

Former Jefferies Group trader sentenced to two years for fraud

Wed, 04/26/2017 - 3:07pm
NEW HAVEN, Conn. (Reuters) - A federal judge in Connecticut on Wednesday sentenced a former Jefferies Group bond trader to two years in prison and to pay a $2 million fine after he was found guilty earlier this year of defrauding customers on bond prices.

Exclusive: ADM names new global trade desk chief as part of wider shakeup - memo

Wed, 04/26/2017 - 2:58pm
BUENOS AIRES (Reuters) - Archer Daniels Midland Co has replaced the leader of its global trading desk, according to an internal memo seen by Reuters on Wednesday, as the company sheds traders around the world while grappling with huge grain supplies that have weakened margins.

Fiat Chrysler may add more self-driving supplier partners: CEO

Wed, 04/26/2017 - 2:26pm
MILAN/DETROIT (Reuters) - Fiat Chrysler Automobiles may seek more supplier partners to help it develop and build self-driving vehicles, Chief Executive Officer Sergio Marchionne said on Wednesday.

Automakers want California to revise Volkswagen charging station plan

Wed, 04/26/2017 - 1:43pm
WASHINGTON (Reuters) - Major automakers and other groups are raising objections to the way Volkswagen AG wants to spend $2 billion on electric vehicle infrastructure and projects, as part of the German automaker's atonement for diesel emissions cheating.

Tesla offers more sweeteners to try quell unrest at key German supplier

Wed, 04/26/2017 - 12:09pm
PRUEM, Germany (Reuters) - Luxury electric carmaker Tesla has offered more sweeteners to try to quell unrest at a key German supplier, whose founder and chief executive has not been seen at work for weeks, German labor officials said on Wednesday.

SEC working 'diligently' on plan to test lower exchange fees

Wed, 04/26/2017 - 11:28am
NEW YORK (Reuters) - The U.S. Securities and Exchange Commission is preparing a proposal for a pilot plan to test how lowering stock exchange fees would affect market quality and the behavior of market participants, a senior official at the regulator said on Wednesday.

JPMorgan beats Madoff customers' appeal

Wed, 04/26/2017 - 11:15am
NEW YORK (Reuters) - JPMorgan Chase & Co is not liable to a group of former customers of Bernard Madoff who blamed the bank for being actively involved in his Ponzi scheme and ignoring red flags of fraud, a federal appeals court ruled on Wednesday.

P&G profit falls on strong dollar, slow consumer spending

Wed, 04/26/2017 - 10:28am
(Reuters) - Procter & Gamble Co , maker of Tide detergent and Gillette razors, reported an 8.3 percent fall in third-quarter profit hurt by a strong dollar and slowing economic growth that dampened consumer spending in several countries.

Exclusive: Austrian prosecutors investigate Airbus CEO over suspected fraud

Wed, 04/26/2017 - 8:33am
VIENNA (Reuters) - Vienna prosecutors are investigating Airbus Chief Executive Thomas Enders for suspected fraud in connection with a $2 billion Eurofighter jet order by Austria more than a decade ago, the prosecutors' office said.

Trump tax plan slashing business rates to test support in Congress

Wed, 04/26/2017 - 7:52am
WASHINGTON (Reuters) - U.S. President Donald Trump will release a tax plan on Wednesday proposing some deep rate cuts, mostly for businesses, including a slashed corporate income tax rate and steeply discounted tax rate for overseas corporate profits brought into the United States, officials said.