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Updated: 35 min 33 sec ago

Asia firms' confidence hits near two-year high on U.S., China pick-up: Thomson Reuters/INSEAD

Tue, 03/21/2017 - 11:19pm
BEIJING (Reuters) - Business sentiment at Asia's top companies rose to its highest in almost two years in the first quarter of 2017, buoyed by positive economic signs from the United States and China that underpinned improved global demand, a Thomson Reuters/INSEAD survey showed.

Hot U.S. real estate a potential red flag: Fed's Rosengren

Tue, 03/21/2017 - 10:05pm
(Reuters) - The run-up in U.S. real estate prices could potentially amplify any future economic downturn, a Federal Reserve official said on Tuesday, urging regulators globally to consider tools beyond interest rates that could help cool the sector.

LG Electronics to launch mobile payments service in South Korea in June

Tue, 03/21/2017 - 9:05pm
SEOUL (Reuters) - South Korea's LG Electronics Inc said on Wednesday it will launch a new mobile payments service in its home country in June, trying to keep up with smartphone leaders Samsung Electronics Co Ltd and Apple Inc.

Oil prices fall on bloated U.S. crude storage

Tue, 03/21/2017 - 9:01pm
SINGAPORE (Reuters) - Oil prices dipped on Wednesday as rising crude stocks in the United States underscored an ongoing global fuel supply overhang despite an OPEC-led effort to cut output.

Asian stocks pull back on fresh doubts about Trump policies

Tue, 03/21/2017 - 8:20pm
HONG KONG (Reuters) - Asian stocks fell on Wednesday as a sharp pullback in Wall Street on doubts about Donald Trump's economic agenda prompted investors to rush to safe haven assets such as gold and government bonds.

Andrew Puzder to step down as CKE fast-food CEO in April: company

Tue, 03/21/2017 - 6:52pm
(Reuters) - Andrew Puzder, who withdrew as nominee for U.S. Labor Secretary in the new Trump administration, is stepping down as chief executive of CKE Restaurants Holdings Inc in April, the parent of the Carl's Jr and Hardee's restaurant chains said on Tuesday.

Nike's revenue misses estimates as rivals gain ground

Tue, 03/21/2017 - 6:50pm
(Reuters) - Nike Inc reported lower-than-expected quarterly revenue on Tuesday as the world's largest footwear maker battles for market share in North America with a resurgent Adidas AG and a fast-growing Under Armour Inc.

Uber board backs CEO Kalanick, still looking for chief operating officer

Tue, 03/21/2017 - 6:47pm
SAN FRANCISCO (Reuters) - Uber Technologies Inc [UBER.UL] plans to keep co-founder Travis Kalanick as chief executive following a series of damaging events at the ride services company, a member of its board said on Tuesday in a rare call with reporters.

Audi board to discuss prosecutor raids, CEO's actions on March 29: sources

Tue, 03/21/2017 - 6:05pm
BERLIN/FRANKFURT (Reuters) - Top officials at Volkswagen's luxury division Audi will meet next week to discuss a raid by German prosecutors on the carmaker's premises last week and the situation of its embattled chief executive, sources said.

U.S. judge will not certify Deutsche Bank mortgage class action

Tue, 03/21/2017 - 5:04pm
NEW YORK (Reuters) - A federal judge on Tuesday said investors seeking to hold Deutsche Bank AG liable for causing $3.1 billion of losses by failing to properly monitor 10 trusts backed by toxic residential mortgages cannot pursue their claims as a group.

U.S. bank stocks fall as investor hope wanes for policy boosts

Tue, 03/21/2017 - 4:55pm
(Reuters) - Shares in U.S. banks tumbled on Tuesday as investors shrunk back from a post-election rally on worries that President Donald Trump would not be able to live up to his promises for large-scale relief on tax and regulation.

Wells Fargo banks on new ad campaign to regain customer trust

Tue, 03/21/2017 - 3:51pm
NEW YORK (Reuters) - Wells Fargo & Co will launch a new multi-channel ad campaign, its chief executive said on Tuesday, in a further sign of the bank's efforts to regain trust after a sales scandal last year caused a sharp drop in account openings.

Markets fret as Trump agenda shows signs of cracks

Tue, 03/21/2017 - 3:48pm
NEW YORK (Reuters) - The steepest pullback in stocks since the U.S. presidential election reveals investor angst about President Donald Trump's ability to push through major reforms, leaving stocks vulnerable to a long-anticipated correction.

Apple drives further into Facebook, Snap territory with video app

Tue, 03/21/2017 - 3:18pm
SAN FRANCISCO (Reuters) - With the release of a new video app called Clips, Apple Inc is inching one step closer to fully engaging in the messaging world, where its huge base of iPhone users could help it compete with Snap Inc's Snapchat and Facebook Inc's Messenger.

French prosecutor opens Fiat Chrysler emissions investigation: source

Tue, 03/21/2017 - 2:49pm
PARIS (Reuters) - A French prosecutor has opened an investigation into Fiat Chrysler over allegations that the carmaker cheated in diesel emission tests, a judicial source said on Tuesday.

Amazon to expand counterfeit removal program in overture to sellers

Tue, 03/21/2017 - 2:31pm
LAS VEGAS (Reuters) - Inc is expanding a program to remove counterfeit goods from its website this spring as part of a broader push to assure brand owners that the online retailer is an ally rather than a threat.

Wall Street should avoid cutting foreign bank ties: U.S. regulator

Tue, 03/21/2017 - 2:06pm
WASHINGTON/ST LOUIS (Reuters) - U.S. banks should not cut ties with foreign clients over money- laundering worries unless officials have concrete cause for concern, a leading U.S. regulator is telling staff and lenders.

U.S. top court weighs Microsoft's appeal in Xbox class action

Tue, 03/21/2017 - 1:59pm
WASHINGTON (Reuters) - U.S. Supreme Court justices expressed support on Tuesday for Microsoft Corp’s bid to fend off class action claims by Xbox 360 owners who say the videogame console gouges discs because of a design defect.

New projects, shale boom could trigger oil oversupply by 2018-19: Goldman

Tue, 03/21/2017 - 1:09pm
(Reuters) - New production projects and a fresh shale boom could boost oil output by a million barrels per year and result in an oversupply in the next couple of years, according to Goldman Sachs.

Morgan Stanley president Kelleher says trading activity has improved

Tue, 03/21/2017 - 12:34pm
(Reuters) - Morgan Stanley president Colm Kelleher said trading activity for the first three months of the year has felt "slightly better" than the end of 2016.