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Updated: 34 min 1 sec ago

Are you being served? Planemakers alter sales pitch to boost profit

Fri, 06/23/2017 - 12:39pm
PARIS (Reuters) - Airbus and Boeing leave this week's Paris Airshow with plans for ambitious growth in aviation services, as flattening demand for new jets and pressure to raise profit margins encourages planemakers to deepen their exposure to airline operations.

Oil creeps up from 10-month low, down nearly 4 percent on week

Fri, 06/23/2017 - 12:28pm
NEW YORK (Reuters) - Oil futures climbed almost 1 percent on Friday on lift from a falling dollar but remained down for a fifth week in a row and close to a 10-month low as OPEC-led production cuts have failed to substantially reduce a global crude glut.

Ford's China move casts new cloud on Mexican carmaking

Fri, 06/23/2017 - 11:38am
MEXICO CITY (Reuters) - A second U-turn this year by Ford Motor Co in Mexico has raised the specter of Chinese competition for local carmaking, adding to pressure on the industry after repeated threats by U.S. President Donald Trump to saddle it with punitive tariffs.

Europe faces Herculean challenge to develop new fighter jet

Fri, 06/23/2017 - 11:26am
PARIS (Reuters) - Europe is embarking on an expensive and politically charged effort to develop a new combat jet that will shape the future of the European fighter industry and its three existing programs - Eurofighter, France's Rafale and Sweden's Gripen.

EU promises tough line on U.S., China while pushing for free trade

Fri, 06/23/2017 - 11:13am
BRUSSELS (Reuters) - German Chancellor Angela Merkel warned U.S. President Donald Trump on Friday that Europe would react in kind if the United States did not play fair in trade, while EU leaders also agreed to consider screening investments by state-owned Chinese firms.

VW is cutting jobs at core brand more quickly than planned: HR boss

Fri, 06/23/2017 - 10:39am
WOLFSBURG, Germany (Reuters) - Volkswagen is reducing the workforce at its core division more rapidly than planned, its human resources chief said, helping the brand make headway on cost-cuts needed to revive the business.

Policy ponder: central banks head for the Portuguese hills

Fri, 06/23/2017 - 10:39am
LONDON (Reuters) - The cool shade of the hills above Lisbon will offer leading central bankers an escape from the summer heat in the coming week, but there is little they can do to get away from their differing monetary policy conundrums.

U.S. new home sales rise, median price surges to record high

Fri, 06/23/2017 - 10:36am
WASHINGTON (Reuters) - New U.S. single-family home sales rose in May and the median sales price surged to an all-time high, suggesting the housing market had regained momentum.

Canada's CIBC completes $5 billion PrivateBancorp acquisition

Fri, 06/23/2017 - 8:27am
TORONTO (Reuters) - Canadian Imperial Bank of Commerce said on Friday that it had completed the $5 billion acquisition of Chicago-based PrivateBancorp in a deal which will help it diversify from its domestic market.

Stock futures little changed as oil prices edge up

Fri, 06/23/2017 - 7:38am
(Reuters) - U.S. stock index futures were little changed on Friday as oil prices edged up and ahead of economic data and speeches by Federal Reserve policymakers.

Accenture unloads $1.6 billion in pension liabilities to AIG, MassMutual

Fri, 06/23/2017 - 7:33am
(Reuters) - Consulting and outsourcing services provider Accenture Plc said on Friday it would transfer $1.6 billion in pension obligations to insurers American International Group Inc and MassMutual.

Ford recalls 15,600 cars in South Africa over fire risk

Fri, 06/23/2017 - 4:43am
JOHANNESBURG (Reuters) - Ford Motor Co is recalling nearly 16,000 Ikon and Figo models in South Africa due to a potential fire risk, it said on Friday.

VW waives appeal against German dieselgate compensation cases

Fri, 06/23/2017 - 3:53am
BERLIN (Reuters) - German carmaker Volkswagen has agreed to buy back diesel cars equipped with illicit emissions control software after deciding not to appeal a German court ruling backing plaintiffs' calls for compensation.

Elbit Systems says innovation key to crowded drone market

Fri, 06/23/2017 - 12:36am
PARIS (Reuters) - Israeli defense electronics company Elbit Systems Ltd , is moving quickly to innovate and maintain its edge in a global market in which it faces increasing competition from China, France, Turkey and others.

China's ICBC says checks of loans by big acquirers are routine

Thu, 06/22/2017 - 11:52pm
BEIJING (Reuters) - Industrial and Commercial Bank of China (ICBC) said on Friday its checks of loans to companies that made overseas acquisitions is routine, following reports that the regulator had ordered lenders to assess credit extended to a handful of highly acquisitive firms.

Asian shares flat, still on track for winning week

Thu, 06/22/2017 - 8:46pm
TOKYO (Reuters) - Asian shares baulked at the starting gate on Friday but remained on track for a weekly gain, while crude oil prices pulled away from this week's 10-month lows.

Toshiba to seek extension on financial filing Friday: Yomiuri

Thu, 06/22/2017 - 7:50pm
TOKYO (Reuters) - Toshiba Corp plans to ask regulators for an extension for filing its annual financial statement on Friday, the Yomiuri daily reported.

GSK's new CEO aims to divest sports nutrition brand: sources

Thu, 06/22/2017 - 5:17pm
LONDON (Reuters) - GlaxoSmithKline Plc's new Chief Executive Officer Emma Walmsley is shaking up the British drugmaker's portfolio of smaller products with plans to divest its MaxiNutrition sports nutrition brand, two people familiar with the matter said on Thursday.

Critics say Whole Foods deal would give Amazon an unfair advantage

Thu, 06/22/2017 - 5:04pm
WASHINGTON (Reuters) - While antitrust experts expect Inc's bid for Whole Foods Market Inc to win regulatory approval, some critics argue the deal should be blocked because it gives the online retailer a nearly unstoppable head start toward domination of online grocery delivery.

Biggest U.S. banks clear first hurdle in Fed's annual stress tests

Thu, 06/22/2017 - 4:42pm
WASHINGTON/NEW YORK (Reuters) - The 34 largest U.S. banks have all cleared the first stage of an annual stress test, showing they would be able to maintain enough capital in an extreme recession to meet regulatory requirements, the Federal Reserve said on Thursday.