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Updated: 9 hours 55 min ago

U.S., China trade talks in Beijing called 'candid and constructive'

Sat, 03/30/2019 - 02:10
The United States and China said they made progress in trade talks that concluded on Friday in Beijing, with Washington calling them candid and constructive, as the world's two largest economies try to resolve a bitter, nearly nine-month trade war.

U.S. consumer spending soft, inflation benign as economy slows

Sat, 03/30/2019 - 02:05
U.S. consumer spending barely rose in January and income increased modestly in February, suggesting the economy was fast losing momentum after growth slowed in the fourth quarter.

Peru declares state of emergency near China-owned mine as protests mount

Sat, 03/30/2019 - 01:54
Peruvian authorities declared a state of emergency and banned public gatherings in an Andean town where a long-running local community protest has shut off access to Chinese miner MMG Ltd's massive copper mine Las Bambas.

Exclusive: Trump eager for trade deal with post-Brexit Britain - Bolton to Reuters TV

Sat, 03/30/2019 - 01:53
White House national security adviser John Bolton said on Friday that President Donald Trump is eager for a U.S. trade deal with Britain once it breaks away from the European Union.

Factbox: Venture backers reap multibillion-dollar payday in Lyft IPO

Sat, 03/30/2019 - 01:43
Lyft Inc's initial public offering on Thursday marked the latest chapter in the seven-year journey of the U.S. ride-hailing app, from a startup backed by seed funding to a publicly traded company worth more than $27 billion.

Oil posts biggest quarterly rise since 2009 on OPEC cuts, sanctions

Sat, 03/30/2019 - 01:37
Oil prices rose about 1 percent on Friday, posting their biggest quarterly rise in a decade, as U.S. sanctions against Iran and Venezuela as well as OPEC-led supply cuts overshadowed concerns over a slowing global economy.

Lyft shares soar on Nasdaq debut, setting stage for Uber

Sat, 03/30/2019 - 01:32
Lyft Inc's shares opened up more than 20 percent in their market debut on Friday, giving the ride hailing startup a market value of more than $27 billion, amid strong investor demand that bodes well for larger rival Uber Technologies Inc.

Outsider CEO won't be a quick fix for Wells Fargo: analysts

Sat, 03/30/2019 - 01:17
Wells Fargo & Co's plan to bring in an outsider as its next chief executive could give the scandal-plagued bank a much needed fresh start, but a turnaround will not be easy for whoever takes the helm, analysts said.

Brazil's Petrobras restricts rivals in sale of LPG gas unit

Sat, 03/30/2019 - 01:07
Brazil's state-run oil company Petroleo Brasileiro SA said on Friday it had kicked off a second attempt to sell its liquefied petroleum gas (LPG) distribution unit and restricted local rivals in a potential deal to avoid blocking by antitrust authorities.

Fed policymakers do not want rate cuts, not even the doves

Sat, 03/30/2019 - 01:01
Barely a week after the U.S. Federal Reserve called a halt to interest rate hikes, policymakers are now battling a view growing in financial markets, and embraced by the Trump administration, that the Fed will need to cut rates before long.

White House's Kudlow says U.S.-China trade talks making headway

Sat, 03/30/2019 - 00:41
White House economic adviser Larry Kudlow said on Friday the United States and China are making progress in trade talks.

Saudi's Kingdom Holding to invest Careem proceeds in Europe, Saudi: CEO

Sat, 03/30/2019 - 00:39
Saudi Arabian investment firm Kingdom Holding will put the proceeds from the sale of its stake in ride-hailing startup Careem towards $600 million in investments in the kingdom and Europe, its chief executive told Reuters on Friday.

Staples US$3.2 billion dividend loan tests U.S. market's recovery

Sat, 03/30/2019 - 00:31
NEW YORK (LPC) - Opportunistic and aggressive loans financing dividend payments to private equity firms, such as a US$3.2bn loan for office supply company Staples, are back on the agenda as sponsors exploit excess investor demand while dealflow remains thin.

Vivendi drops bid for Telecom Italia board reshuffle in first sign of truce

Fri, 03/29/2019 - 23:54
Facing defeat in its attempt to change Telecom Italia's board, top shareholder Vivendi took a first step on Friday towards ending a bitter dispute with a U.S. fund that has hobbled Italy's biggest phone group over the past year.

UK's top fraud prosecutor backs U.S.-style plea bargaining deals

Fri, 03/29/2019 - 23:43
The UK's top fraud prosecutor has thrown her weight behind American-style corporate plea bargains amid criticism that they can allow companies to admit wrongdoing without leading to successful prosecutions of individuals.

H&M shares fly off the shelves as turnaround strategy shows promise

Fri, 03/29/2019 - 23:41
Fashion retailer H&M reported a much smaller than expected fall in quarterly profit on Friday as it sold more products at full price and margins held up, in a first sign that its turnaround strategy is producing results.

Morgan Stanley president Kelleher to retire: memo

Fri, 03/29/2019 - 02:27
Morgan Stanley said Thursday that its president, Colm Kelleher, will retire at the end of June, according to an internal memo viewed by Reuters.

Wells Fargo CEO Tim Sloan steps down

Fri, 03/29/2019 - 02:23
Wells Fargo & Co said on Thursday Tim Sloan will resign immediately as its chief executive, becoming the second CEO to leave the bank in the fallout of a wide-ranging sales practices scandal.

Wall Street ends up as yields, trade optimism rise

Fri, 03/29/2019 - 02:02
U.S. stocks climbed on Thursday as Treasury yields rose off 15-year lows, with investors optimistic about the latest round of U.S.-China trade talks.

Global Markets: Benchmark yields rise, stocks mixed with eye on trade, growth

Fri, 03/29/2019 - 01:59
Benchmark U.S. and European bond yields moved higher on Thursday after prolonged slides, while gains on Wall Street countered declines in other world stock markets as investors eyed U.S.-China trade talks and economic growth.