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Updated: 33 min 22 sec ago

Exclusive: Gazprom to cut hundreds of traders as Kremlin retreats from West

Wed, 03/14/2018 - 9:27am
MOSCOW (Reuters) - Russian gas giant Gazprom will cut hundreds of jobs at its overseas trading and export offices, including Britain, and move them to St Petersburg, according to two sources familiar with the plan, which comes at a time of rising tensions with the West.

U.S. retail sales falter; underlying producer prices rise solidly

Wed, 03/14/2018 - 9:21am
WASHINGTON (Reuters) - U.S. retail sales fell for a third straight month in February as households cut back on purchases of motor vehicles and other big-ticket items, pointing to a slowdown in economic growth in the first quarter.

Ford recalls 1.38 million vehicles for loose steering wheel bolts

Wed, 03/14/2018 - 8:59am
(Reuters) - Ford Motor Co said Wednesday it is recalling 1.38 million vehicles in North America for potentially loose steering wheel bolts that could detach, in a callback linked to two accidents and one injury.

Oil majors give in to investors with share buyback spree

Wed, 03/14/2018 - 8:53am
(Reuters) - After almost three barren years for investors who have poured millions into the U.S. oil sector, producers are finally opening the floodgates to a wave of share buybacks that will return money to shareholders this year.

Unilever set to give up London HQ: Sky News

Wed, 03/14/2018 - 8:31am
(Reuters) - Unilever's board will finalize on Wednesday a decision to close the Anglo-Dutch consumer giant's London headquarters, Sky News reported, citing sources.

Prudential to split in new world order for British insurers

Wed, 03/14/2018 - 7:49am
LONDON (Reuters) - Prudential is to spin off its British and European business from its international operations, breaking up the 170-year-old insurer to refocus on faster-growing markets in the sector's latest major shake-up.

Trade war concerns hit shares, dollar

Wed, 03/14/2018 - 7:48am
LONDON (Reuters) - Shares were under pressure for a second day on Wednesday and the dollar held near one-week lows after a threat by U.S. President Donald Trump to slap $60 billion in tariffs on Chinese imports rekindled investors' concerns about the economic growth outlook.

EU aims to solve trade 'mess', not provoke U.S.: commissioner

Wed, 03/14/2018 - 7:42am
STRASBOURG, France (Reuters) - The European Union will focus on securing an exemption from U.S. metals tariffs rather than provoking a trade war, a senior European Commission official said on Wednesday.

Wall Street set to recover after bumpy session

Wed, 03/14/2018 - 7:40am
(Reuters) - U.S. stock index futures signaled a rebound for Wall Street on Wednesday, a day after the main indexes fell more than half a percent on fears of political and trade uncertainties.

Broadcom ends bid for Qualcomm after President Trump nixes deal

Wed, 03/14/2018 - 7:35am
(Reuters) - Singapore-based Broadcom Ltd withdrew its $117 billion bid to acquire Qualcomm Inc on Wednesday, two days after U.S. President Donald Trump blocked the attempt citing national security concerns.

Walmart expands home delivery in fight with Amazon

Wed, 03/14/2018 - 7:21am
NEW YORK (Reuters) - Walmart Inc will expand its grocery home delivery services to more than 100 metro areas this year from an existing six cities as the retailer steps up a fight against rival Inc.

Chinese investors want relaxed rules for tech IPOs: exchange

Wed, 03/14/2018 - 6:20am
SHANGHAI (Reuters) - Most Chinese investors expect regulators to relax rules on initial public offerings (IPOs) by technology companies, and would like to invest in such domestic listings, the Shenzhen Stock Exchange said on Wednesday, citing a recent survey.

Lufthansa extends contract of CEO Carsten Spohr

Wed, 03/14/2018 - 5:48am
BERLIN (Reuters) - German airline group Lufthansa has extended the contract of its Chief Executive Carsten Spohr for a further five years, with the manager set to report another record year in terms of financial results later this week.

Renewed trade war fears pummel world shares, dollar

Wed, 03/14/2018 - 5:46am
LONDON (Reuters) - World shares slipped for the second straight day and the dollar held near one-week lows after U.S. President Donald Trump's threats to slap $60 billion in tariffs on Chinese imports reminded investors of the threat to world economic growth.

Britain's Prudential to split in new world order for insurers

Wed, 03/14/2018 - 5:22am
LONDON (Reuters) - Prudential is to spin its British and European business off from its international operations, breaking up the 170-year-old insurer in the latest shake-up in a fast-changing industry.

Even backers of Trump's economic policies pan tariffs

Wed, 03/14/2018 - 4:49am
SAN FRANCISCO (Reuters) - As U.S. President Donald Trump forges ahead with his controversial trade policies, even financial experts who enthusiastically applaud many of Trump's other policies are worried that the protectionist measures could hurt U.S. growth, Reuters interviews with more than two dozen such specialists show.

South Africa antitrust watchdog charges Takata with price fixing

Wed, 03/14/2018 - 4:38am
JOHANNESBURG (Reuters) - South African competition watchdog charged Takata Corp with price fixing on Wednesday, another blow to the Japanese auto safety products maker in the throes of a massive airbag scandal.

Prudential to spin off UK and European business in radical break-up

Wed, 03/14/2018 - 4:13am
LONDON (Reuters) - Britain's Prudential is to spin-off its UK and European division from its international businesses as part of a radical break-up of the 170-year-old company.

Exclusive: China's regulators compete to look tough as political pressure mounts

Wed, 03/14/2018 - 3:50am
BEIJING (Reuters) - China's financial watchdogs are pushing for harsher rules and stepping up action against miscreants, spurred on by official pressure on them to curb risk in the financial system, according to multiple sources with direct knowledge of the situation.

South Korea willing to offer short-term loans to GM Korea

Wed, 03/14/2018 - 2:14am
SEOUL (Reuters) - South Korea's state-run Korea Development Bank said on Wednesday it would provide short-term loans to General Motors' South Korean unit after April, should the company cooperate with due diligence.