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Updated: 15 min 57 sec ago

Exclusive: Saudi Aramco snubs UBS and Bank of America for listing roles - sources

Tue, 01/16/2018 - 5:27am
LONDON (Reuters) - Saudi Aramco has not invited UBS and Bank of America Merrill Lynch to pitch for senior advisory roles in its stock market listing because they have not lent money to the state oil giant in recent years, according to five finance sources.

Bitcoin slides 18 percent on crackdown fears; crypto rivals also plunge

Tue, 01/16/2018 - 5:15am
LONDON (Reuters) - Bitcoin tumbled 18 percent on Tuesday to a four-week trough close to $11,000, after reports that a ban on trading of cryptocurrencies in South Korea was still an option drove fears grew of a wider regulatory crackdown.

Shares stay on record run, metals suffer meltdown

Tue, 01/16/2018 - 5:13am
LONDON (Reuters) - Asia and Europe's big bourses kept world shares on their record-breaking run on Tuesday, though a steadier dollar halted the sizzling start to the year for the euro, yen and yuan and sent metals markets sprawling.

Bitcoin slides 14 percent on crackdown fears, hits four-week low

Tue, 01/16/2018 - 4:15am
LONDON (Reuters) - Bitcoin slid as much as 14 percent on Tuesday to hit a four-week low below $12,000, as fears grew of a regulatory crackdown after reports that South Korea's finance minister had said banning trading in cryptocurrencies was still an option.

Asian shares hit record high, euro near three-year top

Tue, 01/16/2018 - 2:06am
TOKYO (Reuters) - Asian shares erased early modest losses and pushed to a fresh record high, while the euro remained within sight of a 3-year peak on rising expectations that the European Central Bank could pare its monetary stimulus.

U.S. oil industry set to break record, upend global trade

Tue, 01/16/2018 - 1:16am
HOUSTON (Reuters) - Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day - toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago.

Exclusive: U.S. lawmakers urge AT&T to cut commercial ties with Huawei - sources

Tue, 01/16/2018 - 1:13am
WASHINGTON (Reuters) - U.S. lawmakers are urging AT&T Inc, the No. 2 wireless carrier, to cut all commercial ties to Chinese phone maker Huawei Technologies Co Ltd [HWT.UL] and oppose plans by telecom operator China Mobile Ltd to enter the U.S. market because of national security concerns, said two congressional aides.

PBOC official says China's centralized virtual currency trade needs to end: source

Tue, 01/16/2018 - 12:52am
BEIJING (Reuters) - A senior Chinese central banker says authorities should ban centralized trading of virtual currencies as well as individuals and businesses that provide related services, an internal memo from a government meeting seen by Reuters showed.

Two Singapore Airbnb hosts to plead guilty to illegal letting charges: lawyer

Mon, 01/15/2018 - 11:35pm
SINGAPORE (Reuters) - Two Airbnb hosts charged in Singapore with unauthorized short-term letting of four apartments are expected to plead guilty next month, their lawyer said on Tuesday.

Asian shares shrug off losses, euro near three-year top

Mon, 01/15/2018 - 11:03pm
TOKYO (Reuters) - Asian shares pushed higher on Tuesday, erasing early modest losses while the euro stood near a 3-year peak on rising expectations that the European Central Bank could pare its monetary stimulus.

Asian shares slip as iron ore softens, euro near three-year top

Mon, 01/15/2018 - 7:48pm
TOKYO (Reuters) - Asian shares slumped on Tuesday, as miners were pressured by weaker Chinese iron ore prices, while the euro stood near a 3-year peak on rising expectations that the European Central Bank could pare its monetary stimulus.

Germany's Continental hires JP Morgan for potential break-up: sources

Mon, 01/15/2018 - 7:29pm
FRANKFURT/LONDON (Reuters) - Germany's Continental AG has hired JP Morgan to advise on a possible break-up, sources told Reuters, as the auto parts maker repositions for a market focused on electric and self-driving vehicles.

China consumer group seeks answers from Apple about slowing iPhones

Mon, 01/15/2018 - 7:00pm
SHANGHAI (Reuters) - A Chinese consumer group has asked Apple for information about the slowing of older iPhones after operating system updates, demanding a reply before Friday, state news agency Xinhua reported.

Global carmakers to invest at least $90 billion in electric vehicles

Mon, 01/15/2018 - 4:59pm
DETROIT (Reuters) - Ford Motor Co's plan to double its electrified vehicle spending is part of an investment tsunami in batteries and electric cars by global automakers that now totals $90 billion and is still growing, a Reuters analysis shows.

Major automakers urge Trump administration: don't ditch NAFTA

Mon, 01/15/2018 - 4:17pm
DETROIT (Reuters) - Global automakers on Monday urged the Trump administration not to terminate the North American Free Trade Agreement and expressed hope the United States, Canada and Mexico can successfully conclude a modernized and improved trade pact.

Fiat Chrysler CEO says no plans to sell brands to Chinese

Mon, 01/15/2018 - 3:40pm
DETROIT (Reuters) - Fiat Chrysler Automobiles NV's (FCA) has no intention of breaking up the company or selling individual brands to China or other parties, the company's chief executive said on Monday, adding that the group was counting on its coveted Jeep brand to drive future profits.

Oil hovers near three-year high despite rising U.S. output

Mon, 01/15/2018 - 2:58pm
CALGARY, Alberta (Reuters) - Oil hovered near a three-year high above $70 a barrel on Monday on signs that production cuts by OPEC and Russia are tightening supplies, although analysts warned of a "red flag" due to surging U.S. production.

Lawsuit in U.S. accuses nine banks of rigging Canadian rate benchmark

Mon, 01/15/2018 - 2:35pm
NEW YORK/TORONTO (Reuters) - Nine large banks, including six from Canada, have been accused in a lawsuit of conspiring to rig a Canadian rate benchmark to improve profits from derivatives trading.

Fiat Chrysler boss says no plans to break up company

Mon, 01/15/2018 - 2:32pm
DETROIT (Reuters) - Fiat Chrysler Automobiles NV's CEO has no intention of breaking up the company or selling off individual brands to China or any other parties, he said on Monday, adding the group was counting on its coveted Jeep brand to drive profit.

Bidder for the Weinstein Company says bankruptcy may be best option

Mon, 01/15/2018 - 2:29pm
(Reuters) - Killer Content Inc, the movie producer that has partnered with philanthropist Abigail Disney in a consortium vying to acquire the Weinstein Company, said on Monday that a bankruptcy may be the best way forward for the U.S. film and TV studio.