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January 24, 2020
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JPMorgan hires senior tech executive from Goldman Sachs: memo

Reuters
FILE PHOTO: People pass the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New York City, May 20, 2015. REUTERS/Mike Segar NEW YORK (Reuters) – JPMorgan Chase & Co (JPM.N) has hired senior banking technology executive Gavin Leo-Rhynie as head of engineering and architecture for the......
Reuters - Business

BlackRock, Franklin Templeton eye partnership with Banco do Brasil’s asset management unit: report

Reuters
FILE PHOTO: A man walks in front of Banco do Brasil headquarters building in Brasilia, Brazil October 29, 2019.REUTERS/Adriano Machado SAO PAULO (Reuters) – Asset managers BlackRock Inc., Franklin Templeton and Principal Financial Group are vying for a partnership with state-controlled lender Banco do Brasil’s asset management unit, a Brazilian......
Reuters - Business

AmEx profit beats on strong U.S. holiday season spending

Reuters
FILE PHOTO: An American Express credit card is seen on a computer keyboard in this picture illustration taken September 6, 2017. REUTERS/Philippe Wojazer/Illustration (Reuters) – Credit card issuer American Express Co (AXP.N) reported a fourth-quarter profit on Friday that beat analysts’ estimates, as more people used its cards for shopping......
Reuters - Business

Oil falls below $62, heads for weekly loss on China virus concerns

Reuters
LONDON (Reuters) – Oil slipped below $62 a barrel on Friday and was heading for a weekly decline as concern that a virus in China may spread, curbing travel and oil demand, overshadowed supply cuts. FILE PHOTO: Pump jacks operate at sunset in an oil field in Midland, Texas U.S.......
Reuters - Business

SoftBank-backed CloudMinds slashes workforce amid cash burn: sources

Reuters
FILE PHOTO: The CloudMinds XR-1 robot performs for the visitors at the Mobile World Congress in Barcelona, Spain February 25, 2019. REUTERS/Rafael Marchante/File Photo TOKYO (Reuters) – SoftBank-backed cloud robotics and artificial intelligence startup CloudMinds is slashing its workforce as it burns through cash after repeated attempts to list on......
Reuters - Business

Ericsson hit by higher 5G costs and weaker U.S. market

Reuters
STOCKHOLM (Reuters) – Sweden’s Ericsson (ERICb.ST) reported a smaller-than-expected rise in fourth-quarter core earnings on Friday and said higher costs would spill over into 2020 as the telecoms equipment maker looks to exploit its leading position in super-fast 5G networks. FILE PHOTO: The Ericsson logo is seen at the Ericsson’s......
Reuters - Business

European stocks shrug off coronavirus fears

Reuters
LONDON/TOKYO (Reuters) – European shares on Friday shrugged off worries over the coronavirus outbreak after the World Health Organisation designated it an emergency for China but not yet for the rest of the world. FILE PHOTO: People walk past the London Stock Exchange Group offices in the City of London,......
Reuters - Business

Bayer Shares up 2.3% on report about possible glyphosate settlement

Reuters
FRANKFURT (Reuters) – Shares in seeds and pesticides maker Bayer (BAYGn.DE) opened 2.3% higher on Friday, driven by a report on a possible out-of-court settlement of a U.S. jury trial over allegations that its weed killer Roundup causes cancer. Bloomberg here said late on Thursday that lawyers for some plaintiffs......
Reuters - Business

Euro near seven-week lows before PMI data release

Reuters
LONDON (Reuters) – The euro held near seven-week lows on Friday after the European Central Bank struck a more dovish tone at Thursday’s meeting than some had expected. FILE PHOTO: Euro currency bills are pictured at the Croatian National Bank in Zagreb, Croatia, May 21, 2019. REUTERS/Antonio Bronic Investor attention......
Reuters - Business

Oil rises, but potential impact of China virus on fuel demand haunts market

Reuters
SINGAPORE (Reuters) – Oil prices climbed on Friday, following a drawdown in U.S. crude stocks, but were set to fall heavily for the week amid worries that a new coronavirus in China that has killed 25 so far may spread, curbing travel, fuel demand and economic prospects. FILE PHOTO: Pump......
Reuters - Business

Ericsson fourth-quarter core profit hit by slowdown in U.S. business, higher costs

Reuters
STOCKHOLM (Reuters) – Swedish telecoms equipment group Ericsson (ERICb.ST) reported a smaller than expected rise in fourth-quarter core earnings on Friday and said the quarter, seasonally its best, had nevertheless been hit by a slowdown in its previously surging U.S. business and higher costs. FILE PHOTO: The Ericsson logo is......
Reuters - Business

Bayer faces fourth U.S. Roundup cancer trial in Monsanto home court

Reuters
(Reuters) – Bayer AG (BAYGn.DE) is set to face a fourth U.S. jury trial over allegations that its popular weed killer Roundup causes cancer, with four cancer patients in the hometown of its agricultural subsidiary Monsanto scheduled to make their case beginning on Friday. FILE PHOTO: Logo and flags of......
Reuters - Business

Oil rebounds, but markets ‘twitchy’ over China virus impact on demand

Reuters
SINGAPORE (Reuters) – Oil prices edged up on Friday, helped by a decline in U.S. crude stockpiles, but were on track for to fall up to 5% for the week on worries that the China coronavirus that has killed 25 so far may spread, curbing travel, fuel demand and economic......
Reuters - Business

Shares hold ground as China virus fears persist; euro hits seven-week low after ECB

Reuters
TOKYO (Reuters) – Asian shares held their ground on Friday as trade slowed for the Lunar New Year, despite investors fears that a new coronavirus in China could spread faster as millions of people would be traveling over the week-long holiday. FILE PHOTO: An investor uses his mobile phone in......
Reuters - Business

Euro near seven-week low after ECB; China virus worries linger

Reuters
TOKYO (Reuters) – The euro hovered near a seven-week low against the dollar on Friday after the European Central Bank was seen as more cautious than expected, while anxiety over China’s coronavirus outbreak propped up the safe-haven yen. FILE PHOTO: Euro currency bills are pictured at the Croatian National Bank......
Reuters - Business

Oil steadies, but concern over spreading China virus weighs

Reuters
FILE PHOTO: Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford SINGAPORE (Reuters) – Oil prices were steady on Friday, but on track for a fall of up to 5% for the week on growing concern that fuel demand will weaken......
Reuters - Business

U.S. extradition battle over Huawei’s Meng ends first phase but Canada court fight continues

Reuters
VANCOUVER (Reuters) – The first phase of battle over whether Huawei Chief Financial Officer Meng Wanzhou should be extradited to the United States wrapped up on Thursday after four days, with lawyers for Meng challenging prosecution claims that her alleged actions are a crime in Canada. Huawei Chief Financial Officer......
Reuters - Business

Insys founder Kapoor sentenced to 66 months in prison for opioid scheme

Reuters
BOSTON (Reuters) – John Kapoor, the founder of Insys Therapeutics Inc, on Thursday was sentenced to 66 months in prison for his role in a bribery and fraud scheme that contributed to the U.S. opioid crisis. FILE PHOTO: John Kapoor (R), the billionaire founder of Insys Therapeutics Inc., leaves the......
Reuters - Business

Euro near seven-week low after ECB; virus fears support yen

Reuters
TOKYO (Reuters) – The euro hovered near a seven-week low against the dollar on Friday after the European Central Bank was seen as more dovish than expected, while anxiety over China’s coronavirus outbreak propped up the safe-haven yen. FILE PHOTO: Euro currency bills are pictured at the Croatian National Bank......
Reuters - Business

Westpac economists now see RBA delaying rate cut to April

Reuters
FILE PHOTO: A pedestrian looks at his phone as he walks past a logo for Australia’s Westpac Banking Corp located outside a branch in central Sydney, Australia, November 5, 2018. REUTERS/David Gray SYDNEY (Reuters) – Analysts at Westpac Banking Corp (WBC.AX) now expect the Reserve Bank of Australia (RBA) will......

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