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Updated: 33 min 50 sec ago

For thousands of U.S. auto workers, downturn is already here

Wed, 06/21/2017 - 3:47pm
LORDSTOWN, Ohio (Reuters) - Wall Street is fretting that the U.S. auto industry is heading for a downturn, but for thousands of workers at General Motors Co factories in the United States, the hard times are already here.

Exclusive: Qatar sovereign fund moves stakes to government, may sell assets - sources

Wed, 06/21/2017 - 3:15pm
DOHA (Reuters) - Qatar's sovereign wealth fund has transferred over $30 billion worth of its domestic equity holdings to the finance ministry and may sell other assets as part of a restructuring drive, people familiar with the matter told Reuters.

Diageo to buy George Clooney's tequila brand Casamigos for up to $1 billion

Wed, 06/21/2017 - 3:02pm
LONDON (Reuters) - Diageo Plc has agreed to buy George Clooney's high-end tequila brand Casamigos in a deal valuing it at up to $1 billion, as the world's largest spirits maker seeks to boost its presence in a high-growth market.

Cigna's 2017 growth may include Medicare Advantage acquisitions

Wed, 06/21/2017 - 2:57pm
NEW YORK (Reuters) - Cigna Corp Chief Executive David Cordani told investors on Wednesday that the company has $7 billion to $14 billion in capital it could use in 2017 for mergers and acquisitions in several areas, including Medicare Advantage for older people.

Apple adds Virgin to U.S. carrier lineup as Virgin ditches Android

Wed, 06/21/2017 - 2:49pm
(Reuters) - Apple Inc will soon start selling wireless plans from Virgin Mobile USA, the first new carrier offered by the iPhone maker's since 2013, the companies said on Wednesday.

Boeing's Conner bows out with $1.2 billion air show deal

Wed, 06/21/2017 - 1:49pm
PARIS (Reuters) - Boeing Vice Chairman Ray Conner on Wednesday sealed his last air show deal before retiring, signing off with the conversion of ten orders to the new 737 MAX 10 model for Donghai Airlines in China, where near-record traffic growth is powering aviation.

Airbus to fit ejectable black boxes to A350 from 2019

Wed, 06/21/2017 - 11:15am
PARIS (Reuters) - European planemaker Airbus will fit ejectable flight recorders to its long-range A350 jets from 2019, meaning they could float in the event of a crash at sea, the company said on Wednesday.

Harley-Davidson enters race to buy Italian rival Ducati: sources

Wed, 06/21/2017 - 10:38am
LONDON (Reuters) - U.S. motorcycle maker Harley-Davidson is lining up a takeover bid for Italian rival Ducati, potentially bringing together two of the most famous names in motorcycling in a deal that could be worth up to 1.5 billion euros ($1.67 billion), sources told Reuters.

U.S. existing home sales unexpectedly rise in May

Wed, 06/21/2017 - 10:02am
WASHINGTON (Reuters) - U.S. home resales unexpectedly rose in May to the third highest monthly level in a decade and a chronic inventory shortage pushed the median home price to an all-time high.

U.S. home refinancing activity climbs to seven-month high: MBA

Wed, 06/21/2017 - 9:26am
NEW YORK (Reuters) - U.S. applications to refinance an existing home reached a seven-month peak last week as mortgage rates were unchanged to higher, the Mortgage Bankers Association said on Wednesday.

Lockheed wins U.S. Air Force deal for radar threat simulators

Wed, 06/21/2017 - 8:16am
PARIS (Reuters) - Lockheed Martin Corp said on Wednesday it had won a $104 million U.S. Air Force contract to develop, produce and field a threat simulator to train combat aircrews to recognize and deal with rapidly evolving threats, such as surface-to-air missiles.

Stock futures lower as oil hovers near seven-month lows

Wed, 06/21/2017 - 7:33am
(Reuters) - U.S. stock index futures were lower on Wednesday as oil prices hovered near seven-month lows and were headed for their largest slide in the first half of any year since 1997.

El Al to buy three more Boeing Dreamliners for $729 million

Wed, 06/21/2017 - 5:55am
JERUSALEM (Reuters) - El Al Israel Airlines is buying three more Boeing 787 Dreamliners in a deal worth more than $729 million, firming up additional commitments made in 2015, the companies said on Wednesday.

Emirates looking at Saudi Arabia to make up for drop in U.S. demand

Wed, 06/21/2017 - 4:32am
PARIS (Reuters) - Emirates, the Middle East's largest airline, is looking to the region's biggest economy, Saudi Arabia, to help make up for a drop in demand that has forced it to keep five aircraft grounded.

Airbus sales chief plays down prospect of blockbuster order

Wed, 06/21/2017 - 4:25am
PARIS (Reuters) - Airbus sales chief John Leahy on Wednesday played down expectations of a last-minute blockbuster order to win the Paris Airshow, while dismissing a flurry of deals for a new Boeing jet as the result of heavy conversions from existing models.

Emirates sees demand returning on U.S. routes weakened by Trump policies

Wed, 06/21/2017 - 3:53am
PARIS (Reuters) - Emirates, the Middle East's largest airline, is seeing a return in demand on routes to the United States that it had started to retreat from in May, President Tim Clark said on Wednesday.

Hong Kong's Li Ka-shing says retirement won't stop him working

Wed, 06/21/2017 - 2:10am
HONG KONG (Reuters) - Hong Kong's richest man Li Ka-shing said on Wednesday he has not decided when to retire and will stay as group senior advisor after he steps down as the chairman of CK Hutchison Holdings .

Uber co-founder Travis Kalanick resigns as chief executive: NYT

Wed, 06/21/2017 - 1:45am
(Reuters) - Uber Technologies Inc co-founder Travis Kalanick stepped down as chief executive of the ride-hailing service, the New York Times reported on Wednesday.

Asian central banks have cause to keep holding rates while the Fed hikes

Wed, 06/21/2017 - 1:35am
(Reuters) - Asian central banks have not blinked since the Federal Reserve raised U.S. rates for the third time in six months last week.

Changing of the guard: China Vanke founder Wang Shi steps down

Wed, 06/21/2017 - 12:20am
HONG KONG (Reuters) - China Vanke Co Chairman Wang Shi, one of the best known people in Chinese business, will step down from the board after a years-long power struggle saw the nation's No.2 property developer fall under state control.