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February 22, 2020
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Reuters - Business

Japan urges G20 members with fiscal scope to boost spending

Reuters
RIYADH (Reuters) – Japan called on G20 countries with fiscal space to ramp up spending to help the global economy weather risks, including the fallout from the coronavirus outbreak, Finance Minister Taro Aso said on Saturday. FILE PHOTO: Japanese Finance Minister Taro Aso takes questions from reporters at the annual......
Reuters - Business

RBC to launch U.S. consumer bank betting on wealthy clients

Reuters
(Reuters) – Royal Bank of Canada plans to open a consumer bank in the United States early next year targeting wealthy clients, with the aim of expanding deposits, its chief financial officer told Reuters on Friday after the bank posted first-quarter profit that beat expectations. The Royal Bank of Canada......
Reuters - Business

U.S. watchdog proposes national standard for disclosing expired debt

Reuters
WASHINGTON (Reuters) – The U.S. consumer watchdog on Friday proposed establishing a national standard for how debt collectors must inform borrowers when they cannot be sued for expired debt. FILE PHOTO: The image of United States President George Washington is seen on an engraving plate for a US one dollar......
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Wall St. eases, led by tech decline on mounting fears coronavirus could spread

Reuters
NEW YORK (Reuters) – U.S. stocks fell on Thursday, led by declines in technology heavyweights, after reports of new coronavirus cases in China and other countries intensified fears over its spread and impact on the global economy. Traders work on the floor of the New York Stock Exchange (NYSE) in......
Reuters - Business

NMC Health founder Shetty resigns as turmoil deepens

Reuters
FILE PHOTO: General view of NMC specialty hospital in Abu Dhabi, United Arab Emirates, February 11, 2020. REUTERS/Satish Kumar/File Photo (Reuters) – NMC Health (NMC.L) said on Monday its founder BR Shetty had resigned as the Emirati healthcare group’s joint non-executive chairman, leaving UK businessman H.J. Mark Tompkins as sole......
Reuters - Business

William Hill names DS Smith’s Adrian Marsh as CFO

Reuters
FILE PHOTO: A William Hill bookmaker store is seen in London, Britain July 21, 2016. REUTERS/Peter Nicholls/File Photo (Reuters) – British bookmaker William Hill (WMH.L) on Monday named cardboard maker DS Smith’s (SMDS.L) Chief Financial Officer Adrian Marsh as its finance head. Marsh will join William Hill later this year,......
Reuters - Business

Clock’s ticking for Nissan boss Uchida to show he has a plan: sources

Reuters
TOKYO (Reuters) – Nissan’s new CEO Makoto Uchida doesn’t have time to work his way into the job. He is effectively on probation and has a matter of months to show he can revive the ailing automaker, according to three people familiar with the thinking of some on the company’s......
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India court stalls Amazon, Flipkart antitrust probes: lawyers

Reuters
NEW DELHI/BENGALURU (Reuters) – An Indian antitrust investigation of Amazon.com Inc and Walmart’s Flipkart has been put on hold by a court, three lawyers involved in the proceedings told Reuters on Friday. FILE PHOTO: An employee of Amazon walks through a turnstile gate inside an Amazon Fulfillment Centre (BLR7) on......
Reuters - Business

Buffett’s Berkshire buys Kroger and Biogen, reduces Wells Fargo and Goldman stakes

Reuters
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc on Friday said it has taken a $549.1 million stake in Kroger Co, investing in the largest U.S. supermarket chain as smaller rivals struggle. FILE PHOTO – Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from......
Reuters - Business

Citigroup CEO Corbat’s 2019 compensation unchanged at $24 million

Reuters
FILE PHOTO – Michael Corbat, CEO of Citigroup, speaks during the Bloomberg Global Business Forum in New York City, New York, U.S., September 25, 2019. REUTERS/Shannon Stapleton (Reuters) – Citigroup Inc (C.N) kept its Chief Executive Officer Michael Corbat’s 2019 compensation unchanged at $24 million, according to a regulatory filing......
Reuters - Business

New UK business minister urged to move fast on audit reform

Reuters
LONDON (Reuters) – Britain’s new business minister Alok Sharma was urged on Friday to come forward as soon as possible with a draft law to create a more powerful accounting watchdog. Britain’s Secretary of State for Business, Energy and Industrial Strategy Alok Sharma is seen outside Downing Street in London,......
Reuters - Business

U.S. accuses Huawei of stealing trade secrets, assisting Iran

Reuters
NEW YORK (Reuters) – U.S. prosecutors on Thursday accused Huawei of stealing trade secrets and helping Iran track protesters in its latest indictment against the Chinese company, escalating the U.S. battle with the world’s largest telecommunications equipment maker. FILE PHOTO: The Huawei logo is pictured at the IFA consumer tech......
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U.S. files superseding indictment against Huawei Technologies, CFO Meng

Reuters
FILE PHOTO: The Huawei logo is pictured at the IFA consumer tech fair in Berlin, Germany, September 6, 2019. REUTERS/Hannibal Hanschke/File Photo NEW YORK (Reuters) – The U.S. government on Thursday filed a superseding indictment against the Chinese smartphone maker Huawei Technologies Co and its Chief Financial Officer Wanzhou Meng.......
Reuters - Business

U.S. lawmaker calls for ouster of CalPERS CIO over China ties: letter

Reuters
WASHINGTON (Reuters) – A U.S. Republican lawmaker on Wednesday urged California to fire the chief investment officer of its public pension fund, the nation’s largest, citing what he called the CIO’s “long and cozy” relationship with Beijing, and assailed the fund’s investments in Chinese companies. FILE PHOTO: A sign at......
Reuters - Business

Exclusive: Hundreds of Chinese businesses seek billions in loans to contend with coronavirus – sources

Reuters
BEIJING (Reuters) – More than 300 Chinese companies are seeking bank loans totaling at least 57.4 billion yuan ($8.2 billion) to help to soften the impact of the coronavirus outbreak, two banking sources said. Customers wearing face masks shop inside a supermarket following an outbreak of the novel coronavirus in......
Reuters - Business

Trump’s $4.8 trillion budget gets chilly reception from Congress

Reuters
WASHINGTON (Reuters) – President Donald Trump’s $4.8 trillion budget plan for the coming fiscal year drew a prompt rejection on Monday from congressional Democrats, who said it betrayed his promise to protect popular health and safety-net programs. The White House presented the budget as a blueprint for the president’s policy......
Reuters - Business

Austria’s AMS aims for domination agreement with Osram

Reuters
FILE PHOTO: The logo of German lighting manufacturer Osram is illuminated at the company’s headquarters in Munich, Germany, September 16, 2019. REUTERS/Andreas Gebert/File Photo VIENNA (Reuters) – Austrian sensor specialist AMS (AMS.S) (AMS.VI) made clear on Monday that it aims to secure a so-called domination agreement with Osram (OSRn.DE) to......
Reuters - Business

White House dismisses idea of U.S. buying Nokia, Ericsson to challenge Huawei

Reuters
WASHINGTON (Reuters) – U.S. Vice President Mike Pence on Friday and the top White House economic adviser dismissed an unusual suggestion from U.S. Attorney General William Barr that the United States consider taking control of two major foreign rivals of China-based Huawei Technologies Co Ltd. FILE PHOTO – U.S. Vice......
Reuters - Business

Blue collar boom? College grads, baby boomers big winners in Trump’s economy

Reuters
WASHINGTON (Reuters) – U.S. President Donald Trump rolled out an eye-catching statistic in his State of the Union address Tuesday: the wealth held by the poorest half of American households increased three times as fast as the wealth held by the “1%” since he became president. U.S. President Donald Trump......
Reuters - Business

Credit Suisse CEO Thiam toppled by espionage scandal

Reuters
ZURICH (Reuters) – Tidjane Thiam has quit as Credit Suisse chief executive after a spying scandal that has hit the reputation of Switzerland’s second-biggest bank and shocked the country’s financial community. Thomas Gottstein, who is head of the Swiss business at Credit Suisse, will take over from Thiam, the Zurich-based......

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