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Updated: 32 min 52 sec ago

Toyota, Intel, others to form auto big data consortium

Thu, 08/10/2017 - 4:35pm
(Reuters) - Toyota Motor Corp , chipmaker Intel Corp and other technology and auto companies are forming a consortium to create an ecosystem for big data used in connected cars, the Japanese automaker said on Thursday.

Snap posts lower-than-expected daily active users, shares drop

Thu, 08/10/2017 - 4:24pm
(Reuters) - Snap Inc reported a lower-than-expected number of daily active users for Snapchat, its popular messaging app, for the second quarter as the company grapples with stiff competition from Facebook Inc, sending its shares down about 6 percent in extended trading.

Exclusive: Amazon in talks to offer event ticketing in U.S.- sources

Thu, 08/10/2017 - 3:51pm
NEW YORK/SAN FRANCISCO (Reuters) - Inc is seeking to partner with U.S. venue owners to sell event tickets, four sources have told Reuters, a move that could loosen Ticketmaster's powerful grip on the lucrative ticketing business.

Benchmark Capital sues former Uber CEO Kalanick: Axios

Thu, 08/10/2017 - 3:49pm
(Reuters) - Venture capital firm Benchmark Capital is suing former Uber Chief Executive Travis Kalanick for fraud, breach of contract and breach of fiduciary duty, news website Axios reported on Thursday.

Exclusive: Husky hires Goldman Sachs for $4 billion sale - sources

Thu, 08/10/2017 - 3:37pm
(Reuters) - Husky Injection Molding Systems Ltd, a Canadian supplier of injection molding equipment to the global plastics industry, has hired investment bank Goldman Sachs Group Inc to explore a sale that it hopes could value it at close to $4 billion, including debt, according to people familiar with the matter.

Uber's Graves stepping down from full-time job, stays on board

Thu, 08/10/2017 - 1:42pm
SAN FRANCISCO (Reuters) - Ride services company Uber Technologies Inc's [UBER.UL] head of operations, Ryan Graves, a long-time ally of former chief executive Travis Kalanick, is stepping down from his full-time job at the company, according to a copy of a letter from Graves seen by Reuters.

Labor group files complaint against Anbang Insurance

Thu, 08/10/2017 - 1:10pm
(Reuters) - A U.S. labor union group has filed a complaint against Anbang Insurance Group [ANBANG.UL] and three of its hotel operators, saying the China-based insurer failed to provide information about its ownership and sources of financing.

UK fraud office expects decision on GSK, Rolls-Royce cases next year

Thu, 08/10/2017 - 12:30pm
LONDON (Reuters) - The UK Serious Fraud Office (SFO) said on Thursday it expects to decide next year whether it will file criminal charges in bribery investigations related to drugs giant GlaxoSmithKline and aero engine company Rolls-Royce .

Wells Fargo likely to appoint Duke as chairwoman: WSJ

Thu, 08/10/2017 - 12:15pm
(Reuters) - Betsy Duke, a former Federal Reserve official and community banker from Virginia, may become chairwoman of the board of Wells Fargo & Co , according to the Wall Street Journal

ADP CEO slams Ackman's research and 'spoiled brat' antics

Thu, 08/10/2017 - 11:39am
NEW YORK (Reuters) - The CEO of Automatic Data Processing Inc slammed investor William Ackman on Thursday, likening the hedge fund manager to a "spoiled brat" and skewering the billionaire's research efforts into the payroll processor.

Citi stock to double in 4-5 years, says Mike Mayo

Thu, 08/10/2017 - 11:04am
(Reuters) - Citigroup Inc's stock price is likely to double in the next four to five years, banking analyst Mike Mayo wrote in his first note after joining Wells Fargo Securities.

Germany to inspect Ford Mondeo cars over emissions testing: WirtschaftsWoche

Thu, 08/10/2017 - 10:43am
BERLIN (Reuters) - Germany has ordered its road transport watchdog to look at whether Ford's mid-sized Mondeo model contains an illegal emissions cheating device, business weekly WirtschaftsWoche reported on Thursday, citing the transport ministry.

Wall Street opens lower as North Korea tensions escalate

Thu, 08/10/2017 - 9:34am
(Reuters) - U.S. indexes opened lower for the third straight day on Thursday as North Korea's threat to land a missile just short of the U.S. territory of Guam added fuel to simmering tensions with the United States.

Barclays names ex-Citi banker Barry Rodrigues as head of Barclaycard

Thu, 08/10/2017 - 9:23am
LONDON (Reuters) - Barclays has named former Citigroup banker Barry Rodrigues as the head of its Barclaycard International credit card division, the British bank said on Thursday.

U.S. producer prices record biggest drop in 11 months

Thu, 08/10/2017 - 9:13am
WASHINGTON (Reuters) - U.S. producer prices unexpectedly fell in July, recording their biggest drop in nearly a year and pointing to a further moderation in inflation that could delay a Federal Reserve interest rate increase.

MetLife seeks changes to protect interest payments, dividends

Thu, 08/10/2017 - 8:53am
(Reuters) - MetLife Inc is asking some bond investors and shareholders to approve changes that are necessary for the insurer to make interest payments as usual, and continue returning capital to common shareholders, following its recent Brighthouse Financial Inc spinoff.

U.S. jobless claims rise; labor market still tightening

Thu, 08/10/2017 - 8:32am
WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits unexpectedly rose last week, but the underlying trend remained consistent with a tightening labor market.

Macy's quarterly comparable sales top estimates

Thu, 08/10/2017 - 8:17am
(Reuters) - Department store operator Macy's Inc joined rival Kohl's Corp in reporting a smaller-than-expected decline in quarterly comparable sales.

Kohl's quarterly profit, comp sales beat estimates

Thu, 08/10/2017 - 7:36am
(Reuters) - Department store operator Kohl's Corp reported better-than-expected quarterly profit and comparable sales, helped by a sales boost in the final month of the quarter and cost cuts, sending its shares up 4 percent in premarket trading.

Developers file antitrust complaint against Apple in China

Thu, 08/10/2017 - 7:29am
BEIJING (Reuters) - A Chinese law firm has filed a complaint against Apple Inc on behalf of 28 local developers alleging the firm breached antitrust regulations.