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Updated: 16 min 36 sec ago

Nestle sells U.S. candy business to Ferrero for $2.8 billion amid health push

Tue, 01/16/2018 - 12:57pm
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 toward healthier products.

Britain investigates Carillion directors after collapse

Tue, 01/16/2018 - 12:25pm
LONDON/CAMBRIDGE, England (Reuters) - Britain ordered a fast-track inquiry into the role played by Carillion's directors in the failure of the construction and services group, as some of its thousands of small suppliers started to lay off workers on Tuesday.

Nestle sells U.S. candy to Ferrero amid health push

Tue, 01/16/2018 - 12:12pm
LONDON/MILAN (Reuters) - Swiss food group Nestle agreed to sell its U.S. confectionery business to Italy's Ferrero for $2.8 billion, it said on Tuesday, the first major sale from CEO Mark Schneider and a small step on its path towards healthier products.

Equities advance as Dow tops 26,000, dollar steadies

Tue, 01/16/2018 - 11:41am
NEW YORK (Reuters) - World stock markets advanced on Tuesday, with investors on Wall Street pushing the Dow index past the 26,000 threshold, while the U.S. dollar strengthened after four days of declines.

Dow briefly tops 26,000 mark

Tue, 01/16/2018 - 11:37am
(Reuters) - The Dow eased slightly after hitting the 26,000 mark for the first time on Tuesday, as earnings season got off to a strong start following upbeat results from UnitedHealth and Citigroup.

Citigroup reports $18 billion loss on one-time tax items

Tue, 01/16/2018 - 11:36am
(Reuters) - Citigroup Inc posted an $18-billion quarterly loss on Tuesday because of charges related to a new U.S. tax law, but its adjusted earnings beat Wall Street expectations and management signaled that the bank may soon lift financial performance targets.

GE renews break-up talk as it discloses $11 billion fourth quarter hit

Tue, 01/16/2018 - 11:36am
(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.

German strikes spread to Daimler, union mulls escalation

Tue, 01/16/2018 - 10:48am
BERLIN/FRANKFURT (Reuters) - Tens of thousands of German industrial workers downed tools on Tuesday in support of trade union IG Metall's demands for a 6 percent pay rise and a right to the first new cut in weekly working hours since the 1980s.

GE to take $6.2 billion hit from insurance portfolio

Tue, 01/16/2018 - 10:29am
(Reuters) - General Electric Co will take a $6.2 billion charge in its fourth quarter results for a more than decade-old insurance portfolio covering long-term healthcare costs, the company said on Tuesday.

Dow breaches 26,000 mark on robust earnings reports

Tue, 01/16/2018 - 10:14am
(Reuters) - Wall Street's main indexes rose sharply on Tuesday, with the Dow hitting the 26,000 mark for the first time, as the fourth-quarter earnings season kicked into high gear.

Dow hits 26,000 for first time

Tue, 01/16/2018 - 9:40am
(Reuters) - The Dow Jones Industrial Average touched the 26,000-mark for the first time on Tuesday and other Wall Street indexes climbed as strong earnings from UnitedHealth and Citigroup helped lift the sentiment.

Shares stay on record run as metals skid

Tue, 01/16/2018 - 9:29am
LONDON (Reuters) - Asia and Europe's big bourses kept world shares on their record-breaking run on Tuesday, although a steadier dollar halted the sizzling start to the year for the euro, yen and yuan and sent metals markets skidding.

Some 10,000 Daimler employees strike in push for higher wages

Tue, 01/16/2018 - 9:06am
BERLIN (Reuters) - Some 10,000 workers at German carmaker Daimler AG walked off their shifts for an hour on Tuesday as they sought to persuade employers to give engineering workers around Germany more pay and a shorter working week.

Suppliers and staff count the cost of UK Carillion's collapse

Tue, 01/16/2018 - 8:50am
LONDON/EDINBURGH (Reuters) - The collapse of British services group Carillion started to hurt thousands of small contractors on Tuesday, with some laying off workers after the rapid demise of a company that was winning state contracts as recently as November.

GM sees flat 2018 earnings, with pickups picking up in 2019

Tue, 01/16/2018 - 8:38am
DETROIT (Reuters) - General Motors Co said on Tuesday it expects earnings in 2018 to be largely flat compared with 2017, but that profits should pick up pace in 2019 as its revamped line of high-margin pickup trucks hits the U.S. market.

Citi profit tops estimates; books $22 billion tax charge

Tue, 01/16/2018 - 8:33am
(Reuters) - Citigroup Inc on Tuesday reported quarterly profit that topped Wall Street expectations as consumer businesses made up for lower revenue from bond and currency trading.

Dow on track to top 26,000 at open

Tue, 01/16/2018 - 7:40am
(Reuters) - Futures on the Dow Jones Industrial Average surged more than 200 points on Tuesday, indicating that the blue-chip index could open above 26,000 for the first time, supported by strong earnings from UnitedHealth.

GE to take $6.2 billion charge in its finance arm

Tue, 01/16/2018 - 7:20am
(Reuters) - General Electric Co will record an after-tax charge of $6.2 billion in its fourth quarter results as part of an ongoing review of its finance arm's insurance portfolio, the company said.

French carmaker PSA's sales lifted by growth in Iran and Latin America

Tue, 01/16/2018 - 7:18am
PARIS (Reuters) - French carmaker PSA's global sales jumped by 15 percent last year as strong growth in Iran and Latin America helped to offset difficulties in Britain and China.

Maersk, IBM to launch blockchain-based platform for global trade

Tue, 01/16/2018 - 7:16am
COPENHAGEN (Reuters) - The world's largest container shipping firm A.P. Moller-Maersk is teaming up with IBM to create an industry-wide trading platform it says can speed up trade and save billions of dollars.