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January 16, 2021

Company News

Uganda’s Museveni in commanding election lead, rival alleges fraud

Reuters
KAMPALA (Reuters) – Uganda’s long-time leader Yoweri Museveni held a commanding lead in a presidential election according to partial results on Saturday morning, with final results expected later in the day, though his main rival Bobi Wine alleged widespread fraud. Electoral campaign posters of Uganda’s President Yoweri Museveni hang on......

GM to invest C$1 billion in Canada plant to manufacture electric vans

Reuters
FILE PHOTO: The General Motors Co (GM) CAMI assembly plant is seen in Ingersoll, Ontario, Canada October 13, 2017. REUTERS/Chris Helgren (Reuters) – General Motors Co and labor union Unifor said on Friday they have reached a tentative deal for the automaker to invest nearly C$1 billion ($785.42 million) in......

After long journey, Fiat Chrysler and PSA to seal merger to become Stellantis

Reuters
MILAN (Reuters) – Fiat Chrysler and PSA will seal their long-awaited merger on Saturday to create Stellantis, the world’s fourth-largest auto group with deep enough pockets to fund the shift to electric driving and take on bigger rivals Toyota and Volkswagen. FILE PHOTO: The logo of Stellantis is seen in......

U.S. equity options set new volume record -Trade Alert

Reuters
FILE PHOTO: The New York Stock Exchange is pictured in the Manhattan borough of New York, September 21, 2015. REUTERS/Carlo Allegri/File Photo NEW YORK (Reuters) – Trading volume in U.S. equity options hit a new record on Friday, according to data from options analytics provider Trade Alert. More than 49.5......

WhatsApp to delay launch of new business features after privacy backlash

Reuters
FILE PHOTO: The Whatsapp logo and binary cyber codes are seen in this illustration taken November 26, 2019. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) – Facebook Inc’s WhatsApp is delaying the roll out of new business features following user backlash over the company’s data sharing practices. The delay is a setback for......

Apple fails to overturn VirnetX patent verdict, could owe over $1.1 billion

Reuters
(Reuters) – A federal judge denied Apple Inc’s bid to set aside or reduce a $502.8 million patent infringement verdict favoring VirnetX Holding Corp, and awarded interest and royalties that could boost Apple’s total payout in two lawsuits above $1.1 billion. FILE PHOTO: The Apple Inc logo is seen hanging......

Wells Fargo posts higher quarterly profit

Reuters
FILE PHOTO: Wells Fargo Bank branch is seen in New York City, U.S., March 17, 2020. REUTERS/Jeenah Moon (Reuters) – Wells Fargo & Co reported a higher quarterly profit on Friday, as stabilizing credit costs helped offset the hit from low-interest rates meant to prop up the ailing economy during......

Investors push for social media controls ahead of U.S. inauguration

Reuters
FILE PHOTO: The Twitter and Facebook logos along with binary cyber codes are seen in this illustration taken November 26, 2019. REUTERS/Dado Ruvic/Illustration BOSTON (Reuters) – Pension fund managers and religious investors on Friday asked top social media companies to step up their content control efforts to reduce the threat......

Uganda’s President Museveni has early lead in election, preliminary results show

Reuters
Elections posters of Uganda’s President Yoweri Museveni are seen on a street in Kampala, Uganda January 12, 2021. REUTERS/Baz Ratner KAMPALA (Reuters) – Uganda’s President Yoweri Museveni took an early lead in the presidential election race, according to preliminary results released on Friday morning by the electoral commission. With 13.6%......

Breakingviews – Chinese investors can soothe Xiaomi’s U.S. pains

Reuters
A man uses his smartphone next to the Xiaomi brand’s store in central Kiev, Ukraine February 11, 2020. REUTERS/Valentyn Ogirenko HONG KONG (Reuters Breakingviews) – It’s good to be able to turn to friends for support. Chinese phone maker Xiaomi lost some $10 billion in market value following its addition......

Amazon faces class-action lawsuit over eBook pricing

Reuters
FILE PHOTO: The logo of Amazon is seen on the door of an Amazon Books retail store in New York City, U.S., February 14, 2019. REUTERS/Brendan McDermid (Reuters) – Amazon.com Inc was slapped with a class-action lawsuit on Thursday accusing the e-commerce giant of inflating the prices of ebooks in......

Car insurance premiums in Britain fall 6% in fourth-quarter – survey

Reuters
FILE PHOTO: Customers are seen looking at cars at Cargiant, following the outbreak of the coronavirus disease (COVID-19), London, Britain, June 1, 2020. REUTERS/Toby Melville (Reuters) – The cost of a comprehensive motor insurance policy in Britain fell for a fourth straight quarter, with the latest quarter recording a 6%......

Chipotle, Just Eat Takeaway CEOs bullish on return to normal

Reuters
By Hilary Russ, Nivedita Balu (Reuters) – Fast-casual U.S. chain Chipotle Mexican Grill Inc and Dutch delivery company Just Eat Takeaway.com predicted a return to more normal levels of dining out by spring or summer of 2021, they said on Thursday. The two companies, which have both prospered during the......

U.S. airlines back Biden plan to mandate masks for passengers

Reuters
By David Shepardson, Tracy Rucinski FILE PHOTO: A traveler wearing a protective face mask and a face shield to prevent the spread of the coronavirus disease (COVID-19) goes through security to board a flight at the airport in Denver, Colorado, U.S., November 24, 2020. REUTERS/Kevin Mohatt/File Photo WASHINGTON/CHICAGO (Reuters) –......

EXCLUSIVE-Trump administration adds China’s Comac, Xiaomi to Chinese military blacklist

Reuters
WASHINGTON, Jan 14 (Reuters) – The Trump administration on Thursday added nine Chinese firms to a blacklist of alleged Chinese military companies, including planemaker Comac and mobile phone maker Xiaomi, according to a document seen by Reuters. The companies will be subject to a new U.S. investment ban which forces......

Commerzbank tells German lawmakers it was a victim of Wirecard fraud

Reuters
FILE PHOTO: A company logo is pictured at the headquarters of Germany’s Commerzbank AG during the annual results news conference in Frankfurt, Germany, February 13, 2020. REUTERS/Ralph Orlowski BERLIN (Reuters) – A top manager at Commerzbank told German lawmakers on Thursday the bank was a victim of fraud surrounding the......

Tata puts post-pandemic bet on digital, electronics and health

Reuters
(Reuters) – Tata Group plans to invest in digital, high-end electronics and healthcare in a post-pandemic world, the $100 billion conglomerate’s chairman said on Thursday. FILE PHOTO: N Chandrasekaran, Chairman of Tata Sons, speaks at the unveiling of Tata Motors HBX compact SUV at the India Auto Expo 2020 in......

ASML CEO sees U.S.-China trade antagonism outlasting Trump

Reuters
AMSTERDAM (Reuters) – ASML CEO Peter Wennink expects further antagonism between the United States and China over semiconductor technology, even as a new administration is set to take over in Washington, he told the Reuters Next conference on Thursday. FILE PHOTO: ASML CEO Peter Wennink attends a news conference after......

Foreign takeover of Carrefour a ‘major difficulty’ for govt, says Le Maire

Reuters
FILE PHOTO: Bruno Le Maire, French Minister of the Economy, Finance, and Recovery, wearing a protective face mask, leaves following the weekly cabinet meeting at the Elysee Palace in Paris, France, October 21, 2020. REUTERS/Gonzalo Fuentes PARIS (Reuters) – French Finance Minister Bruno Le Maire said a foreign company purchasing......

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