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February 26, 2020
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Reuters - Business

Oil inches up on U.S. crude inventories, coronavirus limits gains

Reuters
NEW YORK (Reuters) – Oil prices edged up on Wednesday after U.S. crude in storage grew less than expected and gasoline inventories dropped, but hundreds of new coronavirus cases reported in Asia, Europe and oil-producing countries in the Middle East limited gains. FILE PHOTO: Pumpjacks are seen against the setting......
Reuters - Business

Bayer chairman quits after making progress to settle litigation

Reuters
FILE PHOTO: A bridge is decorated with the logo of a Bayer AG, a German pharmaceutical and chemical maker in Wuppertal, Germany August 9, 2019. REUTERS/Wolfgang Rattay/File Photo FRANKFURT (Reuters) – Bayer (BAYGn.DE), which is fighting claims its weedkiller Roundup causes cancer, said its Chairman Werner Wenning was stepping down......
Reuters - Business

Musk’s SpaceX rocket production facility approved by Port of Los Angeles

Reuters
LOS ANGELES (Reuters) – SpaceX, the private rocket company of high tech entrepreneur Elon Musk, won final approval on Tuesday to build a research and manufacturing plant for its deep-space Starship project on a tract of vacant land at the Port of Los Angeles. FILE PHOTO: A crowd gathers before......
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Walt Disney’s Iger steps down as CEO, parks head Chapek to take reins

Reuters
FILE PHOTO: Chairman and Chief Executive Officer of The Walt Disney Company, Robert Iger, attends the premiere of “Star Wars: The Rise of Skywalker” in Los Angeles, California, U.S. December 16, 2019. REUTERS/Phil McCarten (Reuters) – Walt Disney Co’s (DIS.N) Robert Iger will step down as chief executive officer, handing......
Reuters - Business

Coronavirus clouds Apple’s timeline for new iPhones

Reuters
SAN FRANCISCO/TAIPEI (Reuters) – Travel restrictions to China because of the coronavirus have come just as Apple Inc’s (AAPL.O) engineers usually jet off to Asia to perfect the production of this fall’s new iPhones, former employees and supply chain experts told Reuters. FILE PHOTO: People wearing protective masks wait for......
Reuters - Business

Goldman, Citi among banks curbing Italy trips over coronavirus fears

Reuters
LONDON/MILAN (Reuters) – Goldman Sachs (GS.N), Citigroup Inc (C.N), Credit Suisse (CSGN.S) and other investment banks have curbed trips to Italy amid fears that the coronavirus outbreak across the north of the country could quickly spread across Europe, sources said. FILE PHOTO: A policeman wearing a face mask warns a......
Reuters - Business

EU extends EssilorLuxottica, GrandVision antitrust investigation to July 6

Reuters
FILE PHOTO: Sunglasses from Ray Ban, a Luxottica owned brand, are on display at an optician shop in Hanau, Germany, March 18, 2016. REUTERS/Kai Pfaffenbach/File Photo BRUSSELS (Reuters) – EU antitrust regulators on Tuesday extended their investigation into Ray-Ban maker EssilorLuxottica’s (ESLX.PA) 7.2 billion-euro ($7.8 billion) bid for Dutch opticians......
Reuters - Business

Amazon expands physical footprint with bigger cashier-less grocery shop

Reuters
SEATTLE (Reuters) – Amazon.com Inc (AMZN.O) is bringing its cashier-less store technology to a larger stage. FILE PHOTO: People walk by the Amazon Go brick-and-mortar grocery store without lines or checkout counters, in Seattle Washington, U.S. December 5, 2016. REUTERS/Jason Redmond The world’s biggest online retailer on Tuesday is set......
Reuters - Business

Stocks, oil tumble; gold spikes as virus fears grip markets

Reuters
NEW YORK (Reuters) – Stocks across the globe posted their largest decline in over two years on Monday and oil prices tumbled 5% as a jump in coronavirus cases outside of China sent investors scrambling to the security of gold and government bonds on fears of the impact to the......
Reuters - Business

France’s Sanofi to carve out active drug ingredients business

Reuters
PARIS (Reuters) – Sanofi (SASY.PA) plans to create a standalone company dedicated to making active pharmaceutical ingredients (API), components that are biologically active in a drug, and will decide whether to list it on Euronext Paris by 2022. FILE PHOTO: A Sanofi sign outside the French drugmaker’s Paris headquarters, October......
Reuters - Business

U.S. Supreme Court turns away religious bias claim against Walgreens

Reuters
WASHINGTON (Reuters) – The U.S. Supreme Court on Monday handed a victory to Walgreens, turning away an appeal by a fired former Florida employee of the pharmacy chain who asked not to work on Saturdays for religious reasons as a member of the Seventh-day Adventist Church. FILE PHOTO: A sign......
Reuters - Business

Oil prices drop 4% on demand concerns as virus spreads

Reuters
LONDON (Reuters) – Oil prices fell 4% on Monday, as the rapid spread of the coronavirus in countries outside China added to investor concerns about the impact on demand. Global shares also extended losses as worries about the impact of the virus grew, with the number of infections jumping in......
Reuters - Business

Exclusive: Germany’s Stada buys 15 GSK consumer health brands

Reuters
FRANKFURT (Reuters) – Private equity-backed generic drugmaker Stada STAGn.D said it has agreed to buy 15 consumer healthcare products from British drugmaker GlaxoSmithKline (GSK.L) to further strengthen its prescription-free drugs business in Europe. FILE PHOTO: The logo of Stada Arzneimittel AG is pictured at their headquarters in Bad Vilbel near......
Reuters - Business

Mastercard to add 1,500 technology jobs in Ireland

Reuters
FILE PHOTO: Mastercard Inc. credit cards are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/Illustration DUBLIN (Reuters) – Mastercard Inc (MA.N) plans to hire 1,500 more staff at its global technology hub in Dublin over the next three to five years, more than trebling the size of......
Reuters - Business

Cargill to challenge Beyond Meat, Impossible Foods with new plant-based burger

Reuters
CHICAGO (Reuters) – Cargill Inc will launch plant-based hamburger patties and ground “fake meat” products in April, the company said on Monday, challenging Beyond Meat and Impossible Foods for sales in grocery stores, cafeterias and restaurants. FILE PHOTO: A burger made with black beans and canola protein powder at Burcon’s......
Reuters - Business

Coronavirus concerns spur odd market moves

Reuters
NEW YORK (Reuters) – Some asset prices are moving together in unusual ways, an indication that investors may be preparing their portfolios for a coronavirus-led global slowdown. FILE PHOTO: Numbers showing the state of the Dow Jones Industrial Average are displayed above the floor after the closing bell at the......
Reuters - Business

Teck drops C$20.6 billion oil sands Frontier project, to take writedown

Reuters
TORONTO (Reuters) – Canadian miner Teck Resources Ltd has withdrawn an application to build its C$20.6 billion ($15.7 billion) Frontier oil sands mine in Alberta, days before the federal government was to decide on whether to approve a project opposed by environmentalists and indigenous groups. FILE PHOTO: Teck Resources sign......
Reuters - Business

Exclusive: If Lebanon needs financial aid, France will be there, finmin says

Reuters
RIYADH (Reuters) – France is ready to support Lebanon financially – bilaterally or multilaterally – its finance minister said on Sunday, warning against mixing economic recovery in the small Mediterranean state with U.S.-led efforts to counter Iran in the region. FILE PHOTO: French Finance and Economy Minister Bruno Le Maire......
Reuters - Business

Japan criticizes U.S. digital tax proposal at G20

Reuters
FILE PHOTO: Japanese finance minister Taro Aso takes questions at the annual meeting of the International Monetary Fund and World Bank in Washington, U.S., Oct. 18, 2019. REUTERS/James Lawler Duggan/File Photo RIYADH (Reuters) – Japanese finance minister Taro Aso criticized on Sunday a U.S. tax reform proposal that he said......
Reuters - Business

Exclusive: If Lebanon needs financial aid, France will be there, finance minister says

Reuters
FILE PHOTO: French Finance and Economy Minister Bruno Le Maire speaks during the G20 finance ministers and central bank governors meeting in Riyadh, Saudi Arabia, February 22, 2020. REUTERS/Ahmed Yosri RIYADH (Reuters) – France is ready to support Lebanon financially — bilaterally or multilaterally — its finance minister said on......

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