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Updated: 35 min 17 sec ago

Wall Street opens higher after trade spat selloff

Wed, 06/20/2018 - 9:41am
(Reuters) - U.S. stocks rose at open on Wednesday led by technology and media stocks after a punishing few sessions due to a rapid escalation in trade tensions between the United States and China.

OxyContin maker Purdue Pharma cuts remaining sales force

Wed, 06/20/2018 - 9:38am
(Reuters) - OxyContin maker Purdue Pharma LP, facing a wave of lawsuits blaming it for helping fuel the U.S. opioid epidemic, said on Wednesday it had laid off about 350 employees this week including the remainder of its already-downsized sales force.

Looking for another Nasdaq? Try Europe's aerospace and defense stocks

Wed, 06/20/2018 - 9:36am
MILAN (Reuters) - Fat order books covering several years of sales have made European aerospace and defense firms a winning bet as a slowing economy and political instability have clouded prospects for the region's equity market.

EU to impose duties on U.S. imports Friday after Trump tariffs

Wed, 06/20/2018 - 8:50am
BRUSSELS (Reuters) - The European Union will begin charging import duties of 25 percent on a range of U.S. products on Friday, in response to U.S tariffs imposed on EU steel and aluminum early this month, the European Commission said on Wednesday.

Radical change is coming, says heir apparent to Sorrell's WPP ad empire

Wed, 06/20/2018 - 8:42am
CANNES, France (Reuters) - WPP , the world's largest advertising group, needs radical change to stay ahead of the digital revolution ripping through the industry and its clients, according to the man tasked with running the group after Martin Sorrell.

After surrendering CSeries, Bombardier pushes regional plane revival

Wed, 06/20/2018 - 8:38am
MONTREAL (Reuters) - As Bombardier surrenders hopes of securing a top spot in commercial aviation with the sale of its money-losing CSeries jet program to Airbus , the Canadian company is now drawing up plans to breathe new life into its older regional planes.

Starbucks sales forecast raises questions about China, U.S. growth

Wed, 06/20/2018 - 8:35am
(Reuters) - Starbucks Corp shares fell 4 percent on Wednesday after a dim sales forecast from the U.S. coffee chain prompted Wall Street analysts to question the sustainability of its growth at home and next biggest market China.

Walt Disney raises bid for Fox assets to $38 per share

Wed, 06/20/2018 - 8:31am
(Reuters) - Twenty-First Century Fox Inc said on Wednesday that Walt Disney Co has raised its offer for Fox assets to $38 per share, topping Comcast Corp's $35 a share offer last week.

Stock futures climb after trade worries triggered selloff

Wed, 06/20/2018 - 7:53am
(Reuters) - U.S. stock index futures rose on Wednesday, after a punishing few sessions for Wall Street due to a rapid escalation in trade tensions between the United States and China.

EU Parliament committee votes for tougher EU copyright rules to rein in tech giants

Wed, 06/20/2018 - 7:46am
BRUSSELS (Reuters) - Google , Facebook , Microsoft and other tech giants could face more curbs on their market power after a European Parliament committee voted in favor of tougher copyright rules on Wednesday.

Tesla's Musk says Germany a front runner for Europe Gigafactory

Wed, 06/20/2018 - 7:41am
STOCKHOLM (Reuters) - U.S. electric carmaker Tesla favors Germany as the location for its first European Gigafactory, its chief executive said, in what would be the latest move by an outside firm into the European battery market.

Bombardier to sell 20 aircraft to Delta Air Lines

Wed, 06/20/2018 - 7:20am
(Reuters) - Canadian plane and train maker Bombardier Inc said on Wednesday that Delta Air Lines Inc has signed a purchase agreement for 20 CRJ900 aircraft, in a deal valued at about $961 million.

China's Xiaomi targets as much as $6.1 billion in Hong Kong IPO: sources

Wed, 06/20/2018 - 6:40am
HONG KONG (Reuters/IFR) - Chinese smartphone maker Xiaomi Corp is planning to raise up to $6.1 billion from a Hong Kong IPO launching this week, people with knowledge of the matter said, in what will be one of the biggest tech floats globally of recent years.

Oil traders ready for musical chairs as China tariffs loom

Wed, 06/20/2018 - 6:26am
NEW YORK (Reuters) - Oil markets are bracing for a reshuffle of global trade flows as China threatens to impose tit-for-tat tariffs on imports of U.S. energy products, including crude.

Exclusive: Taiyo Nippon, Carlyle frontrunners to buy Linde and Praxair assets - sources

Wed, 06/20/2018 - 6:10am
NEW YORK/FRANKFURT (Reuters) - Taiyo Nippon Sanso Corp and private equity firm Carlyle Group have emerged as frontrunners to buy assets that gases groups Linde and Praxair need to divest to seal their planned merger, people close to the matter said.

World shares snap five-day losing streak on China policy easing

Wed, 06/20/2018 - 5:41am
LONDON (Reuters) - World stocks steadied near three-week lows on Wednesday and Chinese markets bounced after recent sharp falls as expectations grew that policy stimulus by Beijing could temper some of the impact from an escalating Sino-U.S. trade conflict.

Chinese media denounces Trump trade moves as Beijing touts sincerity

Wed, 06/20/2018 - 5:25am
BEIJING (Reuters) - The Trump administration has "blood lust" when it comes to pushing its trade agenda against China and wants to "suck the lifeblood" from China's economy, a state-run newspaper said on Wednesday, stepping up the angry rhetoric over their dispute.

Toyota captures data goldmine in $1 billion Grab bet

Wed, 06/20/2018 - 4:52am
TOKYO/SINGAPORE (Reuters) - By pumping $1 billion into ride-hailing firm Grab, Toyota Motor Corp stands to gain a passenger-side view of tens of thousands of cars across Southeast Asia, tracking how fast they drive, how far they travel and the time they spend stuck in traffic.

SoftBank's Son to prioritize unicorn hunting as firm shifts focus

Wed, 06/20/2018 - 4:25am
TOKYO (Reuters) - SoftBank Group Corp Chief Executive Masayoshi Son said on Wednesday he plans to devote the bulk of his time to hunt for technology investments around the world, as part of a major shift in focus at the Japanese tech and telecoms conglomerate.

China's Xiaomi plans to raise up to $6.1 billion in Hong Kong IPO: sources

Wed, 06/20/2018 - 4:23am
HONG KONG (Reuters/IFR) - Chinese smartphone maker Xiaomi is planning to raise up to $6.1 billion from a Hong Kong initial public offering, sources with knowledge of the matter said.