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January 24, 2020

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

Reuters
by Reuters01
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......
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European stocks shrug off coronavirus fears

Reuters
by Reuters02
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,......
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Bayer Shares up 2.3% on report about possible glyphosate settlement

Reuters
by Reuters01
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......
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Oil rises, but potential impact of China virus on fuel demand haunts market

Reuters
by Reuters00
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......
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Ericsson fourth-quarter core profit hit by slowdown in U.S. business, higher costs

Reuters
by Reuters00
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......
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Bayer faces fourth U.S. Roundup cancer trial in Monsanto home court

Reuters
by Reuters00
(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......
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Oil rebounds, but markets ‘twitchy’ over China virus impact on demand

Reuters
by Reuters01
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......
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Shares hold ground as China virus fears persist; euro hits seven-week low after ECB

Reuters
by Reuters01
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......
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Oil steadies, but concern over spreading China virus weighs

Reuters
by Reuters03
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......
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U.S. extradition battle over Huawei’s Meng ends first phase but Canada court fight continues

Reuters
by Reuters02
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......
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Dollar up vs euro as ECB holds rates steady, launches review

Reuters
by Reuters05
NEW YORK (Reuters) – The dollar rose against the euro on Thursday after the European Central Bank held interest rates steady and launched a broad review of its policy that was likely to see new President Christine Lagarde redefine the ECB’s main goal and how to achieve it. FILE PHOTO:......
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Reuters - Business

Exclusive: Guyana opening search for oil firm to trade its crude – official

Reuters
by Reuters04
GEORGETOWN (Reuters) – Guyana’s government next month plans to begin a search for an oil company or trading firm to market its share of the South American country’s crude, the director of the Department of Energy, Mark Bynoe, said in an interview. Mark Bynoe, the director of Guyana’s Department of......
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Reuters - Business

Oil falls 3% as specter of China virus threatens fuel demand

Reuters
by Reuters03
NEW YORK (Reuters) – Oil prices fell 3% on Thursday on concern that the spread of a virus from China could lower fuel demand if it stunts economic growth, but losses were limited by a drawdown in U.S. crude inventories. FILE PHOTO: Oil pump jacks work at sunset near Midland,......
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U.S. regulator to review recommendation on Fiat Chrysler’s Jeep complaint against Mahindra

Reuters
by Reuters02
DETROIT (Reuters) – A U.S. regulator said it will review part of a recommendation made last fall that India’s Mahindra and Mahindra Ltd (MAHM.NS) infringed upon the intellectual property rights of Fiat Chrysler Automobiles’ (FCHA.MI) Jeep SUV design. FILE PHOTO: ROXOR off-road vehicles are seen in the Mahindra Automotive North......
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UK’s Morrisons to cut 3,000 management jobs

Reuters
by Reuters04
FILE PHOTO: Shopping trolleys are parked at a Morrisons supermarket in south London, Britain, August 19, 2016. REUTERS/Peter Nicholls/File Photo LONDON (Reuters) – Morrisons (MRW.L), Britain’s No. 4 supermarket group, plans to cut 3,000 management jobs as part of a major restructuring of its workforce that will see 7,000 store......
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Dutch road authority finds Jeep, Suzuki models broke emissions rules

Reuters
by Reuters02
FILE PHOTO: Cruise control on a 2017 Chrysler Jeep Cherokee is seen in a photo illustration in Medford, Massachusetts, U.S., May 24, 2018. REUTERS/Brian Snyder AMSTERDAM (Reuters) – The Dutch road authority has recalled Jeep Cherokees throughout Europe for a software update, it said on Thursday, after completing an investigation......
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Reuters - Business

United States cautions Britain over Huawei

Reuters
by Reuters03
DAVOS/LONDON (Reuters) – The United States cautioned Britain ahead of a decision by Prime Minister Boris Johnson on what role Huawei will have in 5G telecommunications networks that Washington still had significant concerns about the Chinese telecoms behemoth. The logo of Huawei is seen in Davos, Switzerland Januar 22, 2020.......
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Reuters - Business

Volkswagen CEO: Seat’s de Meo probably in talks with Renault – CNBC

Reuters
by Reuters01
FRANKFURT/PARIS (Reuters) – The chief executive of Volkswagen (VOWG_p.DE) said Luca de Meo, who stepped down as chief executive of the German carmaker’s Spanish Seat brand this month, was probably in talks with French carmaker Renault (RENA.PA). FILE PHOTO: SEAT President and CEO Luca de Meo poses during an interview......
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Reuters - Business

Virus fears keep stocks red; ECB gets ready to rethink

Reuters
by Reuters05
LONDON (Reuters) – World shares fell on Thursday, led by the biggest decline in Chinese stocks in more than eight months, as concern mounted about the spread of a deadly virus in China. FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December......
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Reuters - Business

Australia’s Westpac hires ‘Mack the knife’ McFarlane to chair crisis-hit bank

Reuters
by Reuters07
SYDNEY/HONG KONG (Reuters) – Australia’s Westpac Banking Corp (WBC.AX) named a former Barclays (BARC.L) boss as chairman on Thursday, entrusting veteran banker John McFarlane with the task of steering it through the country’s biggest money-laundering scandal. FILE PHOTO: John McFarlane, Chairman of Barclay’s, takes part in a panel during the......
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