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Updated: 57 min 1 sec ago

Exclusive: Iberdrola demands change at Siemens Gamesa as problems mount

Fri, 10/20/2017 - 10:35am
MADRID (Reuters) - Spanish utility Iberdrola is becoming increasingly concerned about the way German group Siemens is managing the Spanish-based wind power joint venture Siemens Gamesa , two people with knowledge of the matter said.

Schlumberger, Baker Hughes warn of weak fourth quarter

Fri, 10/20/2017 - 10:29am
(Reuters) - The world's top two oilfield services firms warned on Friday of a challenging fourth quarter for the industry, as investment slows due to soft oil prices and energy firms reducing activity on offshore rigs.

Bank, tech stocks lift Wall Street

Fri, 10/20/2017 - 10:15am
(Reuters) - U.S. stocks inched higher on Friday as bank stocks rose and tech stocks recovered, with investor optimism back as Trump administration cleared a hurdle to lower taxes.

U.S. existing home sales unexpectedly rebound in September

Fri, 10/20/2017 - 10:05am
WASHINGTON (Reuters) - U.S. home resales unexpectedly increased in September as the effects of Hurricanes Harvey and Irma began to dissipate, but a persistent dearth of properties for sale continued to weigh on overall activity.

S&P, Dow open at record highs on tax-cut optimism

Fri, 10/20/2017 - 9:37am
(Reuters) - Wall Street opened higher on Friday, with the S&P and the Dow recording new highs, on growth optimism as the Trump administration inched a step closer to implementing its tax-cut plan.

BMW confirms inspection by EU antitrust officials

Fri, 10/20/2017 - 9:32am
MUNICH (Reuters) - German carmaker BMW on Friday confirmed that EU antitrust staff were in Munich this week to search its offices.

P&G's quarterly sales drag; Peltz still looms in board battle

Fri, 10/20/2017 - 9:09am
(Reuters) - Consumer goods giant Procter & Gamble Co , which recently declared victory against hedge-fund manager Nelson Peltz's attempt to muscle his way onto the board, reported tepid sales that missed Wall Street estimates.

Schlumberger, Baker Hughes warn of North America slowdown

Fri, 10/20/2017 - 8:37am
(Reuters) - Schlumberger Ltd and Baker Hughes , the world's top two oilfield services firms, warned on Friday of a slowdown in North America and a challenging year ahead as crude oil prices stay volatile.

Trump tax reform hopes boost dollar, stocks, bond yields

Fri, 10/20/2017 - 7:59am
LONDON (Reuters) - European stocks, the dollar and bond yields climbed on Friday as investors speculated that the "Trumpflation trade" could be back in play, after the U.S. Senate approved a budget blueprint that paves the way for tax cuts.

Japan's Kobe Steel says violated statutory standards, losing customers

Fri, 10/20/2017 - 7:58am
TOKYO (Reuters) - Kobe Steel Ltd sank deeper into crisis on Friday as the embattled company said it had lost some customers to competitors because of widespread data falsification that had extended to its mainstream steel sheet business.

P&G's profit beats Wall Street on higher sales of beauty, home care

Fri, 10/20/2017 - 7:53am
(Reuters) - Consumer goods giant Procter & Gamble Co , which recently declared victory in an historic proxy fight with activist investor Nelson Peltz, reported a better-than-expected quarterly profit on Friday but sales slightly missed Wall Street estimates.

GE stock drops as profit misses, CEO cuts forecast

Fri, 10/20/2017 - 7:48am
(Reuters) - General Electric Co's third-quarter profit missed Wall Street estimates by a wide margin on Friday and the industrial conglomerate slashed its earnings forecast, sending the year's worst-performing Dow stock down another 6 percent.

Futures up after Senate clears a hurdle to tax cuts

Fri, 10/20/2017 - 7:41am
(Reuters) - U.S. stock index futures edged higher on Friday after the Senate cleared a budget blueprint, taking the Trump administration a step closer to fulfilling its promise of lowering taxes to stimulate growth.

Schlumberger warns of moderating North American activity

Fri, 10/20/2017 - 7:27am
(Reuters) - Schlumberger Ltd posted a bigger quarterly profit on Friday as its North American business continues to be helped by strong shale drilling, but the oilfield services giant said that investments in the region was moderating.

Low pay, no bonus: U.S. retailers struggle with hiring

Fri, 10/20/2017 - 6:52am
(Reuters) - U.S. retailers are finding it increasingly difficult to hire employees for stores and for middle and higher management as low pay and a feeling of uncertainty clouds the industry following a spate of bankruptcies and store closures.

GE's quarterly revenue rises 14.4 percent

Fri, 10/20/2017 - 6:47am
(Reuters) - General Electric Co on Friday reported a 14.4 percent rise in revenue, aided by the acquisition of oilfield services provider Baker Hughes , but profit fell in the quarter.

Former Rio Tinto CFO Elliott resigns from Britain's Takeover Panel

Fri, 10/20/2017 - 5:31am
LONDON (Reuters) - Former Rio Tinto chief financial officer Guy Elliott has stepped down from Britain's Takeover Panel following fraud charges brought by the U.S. Securities and Exchange Commission (SEC) related to his time at the miner.

U.S. tax reform move boosts dollar, stocks, bond yields

Fri, 10/20/2017 - 5:02am
LONDON (Reuters) - European stocks, the dollar and bond yields climbed on Friday as investors speculated on the return of the "Trumpflation trade", after the U.S. Senate approved a budget blueprint that paves the way for tax cuts.

UK business minister travels to Canada for talks on Bombardier deal

Fri, 10/20/2017 - 4:55am
LONDON (Reuters) - British Business Secretary Greg Clark will hold talks in Canada on Friday to discuss Airbus SE's plans to buy a majority stake in Bombardier's C-Series jetliner program aimed at helping it avoid high U.S. import tariffs.

Kobe Steel crisis deepens as plant inspected for breach of industrial law

Fri, 10/20/2017 - 4:22am
TOKYO (Reuters) - One of Kobe Steel Ltd's copper plants was being inspected for a possible breach of industrial standards, the government said on Friday, while the company said it was investigating reports it continued shipping products after discovering widespread tampering of product data.