Business

  • New Communication Sector’s Shine Could Soon Wear Off
    New Communication Sector’s Shine Could Soon Wear Off
    October 14, 2018 | By Reuters
    NEW YORK—The mash-up of old and new media may not be a winning combination for the new S&P communication services sector index as its highest fliers face regulatory threats and challenges to user growth. The reconstituted sector, which debuted at the end of September, includes telecom, internet, media, and entertainment companies such as AT&T Inc., […]
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  • Selling a Legacy! Food Companies Seek to Boot Their Dated Brands
    Selling a Legacy! Food Companies Seek to Boot Their Dated Brands
    October 14, 2018 | By Bloomberg
    Not a big fan of the Pillsbury Doughboy’s bouncy paunch? You’re not alone, and Big Food is taking note. As consumers increasingly lean toward fruits, vegetables, grains, and meats unsullied by preservatives and sweeteners, food makers including J.M. Smucker Co., General Mills Inc., and Conagra Brands Inc. are looking to reshape portfolios to shed slow- or […]
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  • Trump’s New Trade Deals Seek to Deter Currency Manipulation
    Trump’s New Trade Deals Seek to Deter Currency Manipulation
    October 14, 2018 | By Emel Akan
    WASHINGTON—The new United States-Mexico-Canada Agreement (USMCA) is the first trade agreement in history to directly address the issue of currency manipulation, which could now serve as a precedent for future U.S. free trade agreements. Governments manipulate their own domestic currency in order to gain a trade advantage. The United States has long fought to deter this practice, claiming […]
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  • Trump’s New Global Trade Order Aims at Ramping Up Pressure on China
    Trump’s New Global Trade Order Aims at Ramping Up Pressure on China
    October 13, 2018 | By Emel Akan
    WASHINGTON—The Trump administration is set to flex its muscles by convincing trading partners to pressure China. The revamped deal with Canada and Mexico is a clear sign that Washington is willing to isolate Beijing in a new global trade order by edging China out of trade deals with allies. The new United States–Mexico–Canada Agreement (USMCA) contains […]
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  • Sears Aims to Close up to 150 Stores in Bankruptcy: Sources
    Sears Aims to Close up to 150 Stores in Bankruptcy: Sources
    October 12, 2018 | By Reuters
    Sears Holdings Corp is planning to close up to 150 of its department and discount stores and keep at least another 300 open as part of a plan to restructure under U.S. bankruptcy protection, people familiar with the matter said on Oct. 12. The plans, which remained in flux on Friday afternoon, would leave the […]
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  • Canada Moves to Block Steel Dumping
    Canada Moves to Block Steel Dumping
    October 12, 2018 | By The Canadian Press
    The Canadian government says it will impose a 25 percent surtax on some foreign steel products in a bid to head off dumping. The Finance Department said “excessive imports” are harming the steel industry, prompting it to impose a surtax on seven products that range from rebar to wire rods. The surtax, which begins Oct. 25, will be […]
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  • Manufacturing Sector Faces Challenges From Workforce Shortage
    Manufacturing Sector Faces Challenges From Workforce Shortage
    October 12, 2018 | By Henry Jom
    Manufacturers face significant challenges to business growth due to the shortage of skilled workers, one of the largest manufacturing associations in North America has warned. The survey (pdf) conducted by National Association of Manufacturers (NAM), shows that more than one in four (204) manufacturers had turned down new business opportunities. About one in three (239) […]
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  • UK to Cut Hybrid Car Subsidies
    UK to Cut Hybrid Car Subsidies
    October 12, 2018 | By Reuters
    LONDON—Britain will cut the incentives available to those buying plug-in hybrid vehicles as it focuses on pure electric models, sparking anger from an industry trade body as carmakers already face declining sales in Europe’s second-biggest autos market. Buyers of vehicles which emit less than 50 grams/km of CO2 and have a zero-emission range of at […]
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  • Wall Street tumbles again, world equities at one-year low
    Wall Street tumbles again, world equities at one-year low
    October 11, 2018 | By Reuters
    NEW YORK—Street extended its slide into a sixth session and a global equity index fell to a 1-year low on Oct. 11 as investors feared an escalating U.S. trade war with China and risks from a recent climb in interest rates. The Nasdaq flirted with correction territory, sliding as much as 10.3 percent from its […]
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  • Sears CEO Lampert Explores Bidding for Assets in Bankruptcy – Sources
    Sears CEO Lampert Explores Bidding for Assets in Bankruptcy – Sources
    October 11, 2018 | By Reuters
    Sears Holdings Corp Chief Executive Officer Eddie Lampert is exploring a bid for some of the cash-strapped U.S. retailer’s businesses and real estate once it files for bankruptcy, an alternative to a traditional court-supervised reorganization, people familiar with the matter said on Oct. 11. Under the scenario, the 125-year-old department store operator, once the world’s […]
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  • SoftBank Upping Bet on Loss-Making WeWork With Possible Majority Stake: Source
    SoftBank Upping Bet on Loss-Making WeWork With Possible Majority Stake: Source
    October 11, 2018 | By Reuters
    SAN FRANCISCO/NEW YORK—Japan’s SoftBank Group Corp. is in discussions to buy a majority stake in U.S. shared office space provider WeWork Cos, a source said, potentially doubling down on one of its biggest bets on a loss-making startup. A deal would signal a shift for SoftBank, which runs the world’s biggest private equity fund and […]
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  • Delta Profit Tops Estimates as Cost Controls Help Offset Fuel Surge
    Delta Profit Tops Estimates as Cost Controls Help Offset Fuel Surge
    October 11, 2018 | By Reuters
    Delta Air Lines Inc. said on Oct. 11 it sees a return to margin growth next year as it posted an estimate-beating rise in quarterly profit on strong demand and tight cost controls, sending shares higher. With oil prices hovering near four-year highs, Delta and peers such as American Airlines Group Inc. and Southwest Airlines […]
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  • Apple Gets Critical iPhone Technology in $600 Million Dialog Deal
    Apple Gets Critical iPhone Technology in $600 Million Dialog Deal
    October 11, 2018 | By Reuters
    SAN FRANCISCO/FRANKFURT—Apple Inc. is taking control over the power-management technology at the heart of its iPhones in a $600 million deal with Dialog Semiconductor that also secures the German-listed company’s role as a supplier to the U.S. tech giant. The agreement to license technology and take on people from the Anglo-German chip designer is not […]
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  • Rising US Bond Yields Bring Back Wall Street’s Sinking Feeling
    Rising US Bond Yields Bring Back Wall Street’s Sinking Feeling
    October 11, 2018 | By Reuters
    NEW YORK—For stock investors, the recent spike in bond yields may be prompting some uncomfortable deja vu. Back in late January and early February, there was a 10 percent correction in the S&P 500, with stock investors spooked as Treasury yield increases intensified with a monthly payrolls report showing the biggest wage gains for workers […]
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  • FT Says James Murdoch in Line for Tesla Chair. Musk Reply: Incorrect
    FT Says James Murdoch in Line for Tesla Chair. Musk Reply: Incorrect
    October 11, 2018 | By Reuters
    SAN FRANCISCO/BOSTON—Elon Musk replied with a Tweet saying: “This is incorrect” after the Financial Times reported that outgoing Twenty-First Century Fox Inc. Chief Executive James Murdoch was the lead candidate to replace him as Tesla Inc. chairman. Tesla has until Nov. 13 to appoint an independent chairman of the board, part of settlements reached last […]
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  • US Recyclers Begin Road to Recovery After China Bans Recyclables
    US Recyclers Begin Road to Recovery After China Bans Recyclables
    October 11, 2018 | By Cathy He
    NEW YORK — In 2017 recycling facilities across the United States received some unwelcome news: China, the world’s largest importer of scrap material, will stop accepting their waste. GDB International, a New Jersey-based recycling company, was among numerous operators faced with the problem of deciding what to do with piles, and piles of plastic that […]
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  • Competent Leaders Cannot Be Created When You’re Already In Crisis Mode
    Competent Leaders Cannot Be Created When You’re Already In Crisis Mode
    October 11, 2018 | By Chris Erickson
    This is the fourth article in a five-part series on the “Special Operations Forces Truths.” The SOF Truths are five rules that are utilized as a guide for Special Operations units for strategic planning and vision. However, successful Special Operations soldiers also leverage these rules at an individual level in their own day-to-day activities. Now, as more highly […]
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  • US Producer Prices Rebound, Wholesale Inventories Rise
    US Producer Prices Rebound, Wholesale Inventories Rise
    October 11, 2018 | By Reuters
    WASHINGTON—U.S. producer prices increased 0.2 percent in September, in line with expectations, while a revision to wholesale inventory estimates for August showed the biggest jump in nearly five years, beating forecasts. A rise in services prices offset a slight drop in prices for goods, including a 3.5 percent drop in gasoline prices. Final demand prices […]
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  • CVS-Aetna Deal That Aims to Overhaul Health Care Cleared by US
    CVS-Aetna Deal That Aims to Overhaul Health Care Cleared by US
    October 11, 2018 | By Bloomberg
    CVS Health Corp. and Aetna Inc. received conditional approval to proceed with their proposed $68 billion merger, one of the largest in a series of recent deals that stand to transform the U.S. health-care business. The combination would create a giant with a hand in insurance, prescription-drug benefits, and drugstores across the U.S. By bringing […]
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  • Frank Stronach Sues Daughter Belinda for Allegedly Mismanaging Family Fortune
    Frank Stronach Sues Daughter Belinda for Allegedly Mismanaging Family Fortune
    October 11, 2018 | By The Canadian Press
    TORONTO—An Ontario business magnate is suing his daughter, two grandchildren, and others for allegedly mismanaging the family’s assets and trust funds. Frank Stronach, the man who started the autoparts business Magna International, and his wife, Elfriede, have launched the lawsuit in the Ontario Superior Court and said they have done so as a last resort. Stronach said in a […]
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  • USMCA’s Stronger IP Rights Protection Pros Outweigh Cons for Canada
    USMCA’s Stronger IP Rights Protection Pros Outweigh Cons for Canada
    October 11, 2018 | By Rahul Vaidyanath
    The intellectual property (IP) provisions in the new United States–Mexico–Canada Agreement (USMCA) push Canada to adopt stronger standards for protection.
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  • Asia Shares Shattered by Wall Street Tumble
    Asia Shares Shattered by Wall Street Tumble
    October 10, 2018 | By Reuters
    SYDNEY—Asian share markets sank in a sea of red on Oct. 11 after Wall Street suffered its worst drubbing in eight months. MSCI’s broadest index of Asia-Pacific shares outside Japan shed 2.7 percent to its lowest in 18 months. Japan’s Nikkei fell 3.4 percent, the steepest daily drop since March, while the broader TOPIX lost […]
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  • IMF Cuts World Economic Growth Forecasts
    IMF Cuts World Economic Growth Forecasts
    October 10, 2018 | By Reuters
    NUSA DUA, Indonesia—The International Monetary Fund (IMF) cut its global economic growth forecasts for 2018 and 2019 on Oct. 9, saying that the U.S.–China trade war was taking a toll and emerging markets were struggling with tighter liquidity and capital outflows. The new forecasts show that a burst of strong growth, fueled partly by U.S. […]
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  • Dow Industrials Sink 831 Points as Tech Companies Plunge
    Dow Industrials Sink 831 Points as Tech Companies Plunge
    October 10, 2018 | By The Associated Press
    NEW YORK—U.S. stocks plunged Wednesday as investors, fearful that rising interest rates and trade tensions could hurt company profits, ramped up their selling of high-flying technology and internet stocks. The Dow Jones Industrial Average fell 831 points, its worst loss in eight months. The losses were widespread, and stocks that have been the biggest winners […]
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  • US, European Regulators Investigating Google Glitch
    US, European Regulators Investigating Google Glitch
    October 10, 2018 | By Reuters
    At least two U.S. states and two European Union member states are investigating a breach at Google that may have exposed private profile data of at least 500,000 users to hundreds of external developers. The investigations follow Google’s announcement on Oct. 8 that it would shut down the consumer version of its social network Google+ […]
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  • US Agency Says Tesla Safety Claim Goes Beyond Its Analysis
    US Agency Says Tesla Safety Claim Goes Beyond Its Analysis
    October 10, 2018 | By Reuters
    WASHINGTON—Tesla Inc claimed its Model 3 electric car has the lowest risk of occupant injury of any vehicle in U.S. government tests, but the National Highway Traffic Safety Administration said the claim goes beyond the scope of its analysis on Oct. 9. The auto safety’s agency’s 5-Star Safety Ratings Program uses three crash tests and […]
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  • Sears Prepares to File for Bankruptcy as Early as Friday: Sources
    Sears Prepares to File for Bankruptcy as Early as Friday: Sources
    October 10, 2018 | By Reuters
    Sears Holdings is preparing to file for Chapter 11 bankruptcy protection as early as Oct. 12, sources said on Oct. 10, casting doubt over the future of what was once the world’s largest retailer and sending its shares to a record low. Negotiations between Sears Chief Executive Officer Eddie Lampert and the company’s special board committee are […]
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