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December 11, 2019
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Fiat Chrysler’s UAW members ratify new four-year contract

Reuters
DETROIT (Reuters) – The United Auto Workers (UAW) union said on Wednesday that rank-and-file members at Fiat Chrysler Automobiles NV (FCHA.MI) have voted in favor of a new four-year labor contract with the automaker, helping the Italian-American firm avoid a strike as it works to merge with France’s Groupe PSA...
Reuters - Business

Massachusetts hand-dryer maker gets helping hand from U.S.-China trade war

Reuters
EAST LONGMEADOW, Mass. (Reuters) – The U.S.-China trade war is creating something William Gagnon once thought impossible – a 100% American-made bathroom hand dryer. Excel Dryer vice president of marketing and key accounts, Bill Gagnon, works at the factory in East Longmeadow, Massachusetts, U.S., October 25, 2019. REUTERS/Tim Aeppel Gagnon’s...
Reuters - Business

Germany to repay customers of insolvent Thomas Cook

Reuters
FILE PHOTO: Airplanes with the logos of air carrier Condor by Thomas Cook are seen at the airport in Frankfurt, Germany, September 24, 2019. REUTERS/Kai Pfaffenbach FRANKFURT (Reuters) – Germany will give financial assistance to customers hit by the insolvency of Thomas Cook because the tour operator’s insurance cover has...
Reuters - Business

Siemens names strategy chief Kayser to lead portfolio companies

Reuters
The logo of German industrial group Siemens is seen in Zurich, Switzerland, January 30, 2019. REUTERS/Arnd Wiegmann ZURICH (Reuters) – Siemens named its strategy chief and former Kuka CEO Horst J. Kayser as boss of its loss-making portfolio companies, the German engineering company said on Wednesday. Kayser, 58, will replace...
Reuters - Business

Argo takes different road to skirt self-driving challenges

Reuters
PITTSBURGH/DETROIT (Reuters) – Sky’s the limit optimism about self-driving cars is giving way to tougher questions about how expensive automotive artificial intelligence will ever make a profit. FILE PHOTO: An Argo Ai self driving prototype vehicle is seen outside a Ford and Volkswagen joint news conference in New York City,...
Reuters - Business

Self-driving car firms rooted in U.S. government competition

Reuters
FILE PHOTO: Ford President and CEO Jim Hackett (R) and Volkswagen AG CEO Dr. Herbert Diess (L) pose together with Bryan Salesky, chief executive officer and co-founder of Argo AI LLC at a news conference in New York City, New York, U.S., July 12, 2019. REUTERS/Mike Segar/File Photo (Reuters) –...
Reuters - Business

Thyssenkrupp elevator boss says German sites need to be optimized

Reuters
FILE PHOTO: The logo of Thyssenkrupp is seen near elevators in its headquarters in Essen, Germany, November 21, 2019. REUTERS/Leon Kuegeler/File Photo FRANKFURT (Reuters) – The German factories operated by Thyssenkrupp’s elevator division need to be optimized, the unit’s chief executive said, adding talks with labor representatives have already started....
Reuters - Business

Oil prices fall as U.S. crude stocks jump

Reuters
LONDON (Reuters) – Oil prices fell on Wednesday after industry data showed an unexpected build in U.S. crude inventories and as investors waited for news on whether a fresh round of U.S. tariffs on Chinese goods would take effect on Sunday. FILE PHOTO: Oil pump jacks work at sunset near...
Reuters - Business

Aramco IPO to help Saudi economy shift from oil: finance minister

Reuters
RIYADH (Reuters) – Saudi Aramco’s listing will boost the kingdom’s efforts to diversify from oil as the bulk of proceeds will be injected in domestic projects, while the global buzz surrounding the deal will help lure foreign capital, the finance minister said. Participants attend the official ceremony marking the debut...
Reuters - Business

Saudi Aramco shares jump 10% on stock market debut

Reuters
Participants attend the official ceremony marking the debut of Saudi Aramco’s initial public offering (IPO) on the Riyadh’s stock market, in Riyadh, Saudi Arabia, December 11, 2019. REUTERS/Marwa Rashad DUBAI (Reuters) – Saudi Aramco (2222.SE) shares opened up 10% on their Riyadh stock market debut on Wednesday, closing in on...
Reuters - Business

Saudi Aramco shares indicated up 10% from IPO price ahead of debut

Reuters
FILE PHOTO: A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov DUBAI (Reuters) – Saudi Aramco shares were indicated at 35.2 riyal ($9.39) each in the pre-market auction on Wednesday, 10% above their IPO price of 32 riyals, Refintiv...
Reuters - Business

Huawei’s CFO wins Canada court fight to see more documents on her arrest

Reuters
(Reuters) – Lawyers for Huawei’s chief financial officer have won a court battle after a judge asked Canada’s attorney general to hand over more evidence and documents relating to the arrest of Meng Wanzhou, according to a court ruling released on Tuesday. FILE PHOTO: Huawei Technologies Chief Financial Officer Meng...
Reuters - Business

Meltdowns and touchdowns: How the U.S. scored a Canada-Mexico trade deal

Reuters
WASHINGTON (Reuters) – Revising the U.S.-Mexico-Canada trade agreement took a year of acrimonious talks among Democrats, the chief U.S. negotiator and a labor union president – and may have set a world record for phones being slammed down in anger, according to one negotiator. U.S. Trade Representative Robert Lighthizer gestures...
Reuters - Business

Asian shares drift as tariff deadline looms, pound eases on YouGov poll

Reuters
SINGAPORE (Reuters) – Asian stocks drifted on Wednesday as Sino-U.S. trade talks showed little progress ahead of a weekend deadline for the imposition of additional U.S. tariffs, and the pound wobbled as opinion polls pointed to a tight British election on Thursday. FILE PHOTO: A woman points to an electronic...
Reuters - Business

Powell’s ‘half-full’ U.S. glass sturdy but still at risk for spills as Fed meets

Reuters
WASHINGTON (Reuters) – Federal Reserve Chair Jerome Powell has taken a glass-half-full view of the U.S. economy but the trouble may be that the glass has gotten smaller and has a few cracks. FILE PHOTO: Federal Reserve Board Chairman Jerome Powell testifies before a Senate Banking, Housing and Urban Affairs...
Reuters - Business

Huawei’s CFO wins Canada court fight to see more documents related to her arrest

Reuters
FILE PHOTO: Huawei Technologies Chief Financial Officer Meng Wanzhou leaves her home to appear in British Columbia supreme court for a hearing, in Vancouver, British Columbia, Canada September 30, 2019. REUTERS/Lindsey Wasson (Reuters) – Lawyers for Huawei’s chief financial officer won a court battle when a judge asked Canada’s attorney...
Reuters - Business

Deutsche paints gloomy picture at investor gathering

Reuters
FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) pared back its revenue growth target on Tuesday, highlighting the tough task facing Germany’s biggest lender to revive its fortunes against a gloomy economic backdrop. Deutsche’s management gave a presentation to investors on its restructuring which aims to shift the bank away from Wall...
Reuters - Business

Boeing deliveries halved in first 11 months of 2019

Reuters
(Reuters) – Boeing Co (BA.N) delivered less than half as many planes in the first 11 months of 2019 as in the same period a year earlier, the planemaker said on Tuesday, as it continued to struggle with the grounding of its best-selling 737 MAX jets. FILE PHOTO: A Boeing...
Reuters - Business

Oil rises but U.S.-China trade war weighs on demand outlook

Reuters
NEW YORK (Reuters) – Oil prices inched up on Tuesday as OPEC’s deal with associated producers last week to deepen output cuts in 2020 continued to provide a floor for prices, but U.S.-China trade tensions clouded the demand outlook. FILE PHOTO: Oil pump jacks work at sunset near Midland, Texas,...
Reuters - Business

Britain’s Lloyds criticized for mistreating victims of major fraud

Reuters
FILE PHOTO: People walk past a branch of Lloyds Bank on Oxford Street in London, Britain July 28, 2016. REUTERS/Peter Nicholls LONDON (Reuters) – Lloyds Banking Group (LLOY.L) has been heavily criticized for mishandling a compensation scheme for victims of one of Britain’s biggest banking scandals in a report published...

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