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February 17, 2020
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Apple unlikely to meet revenue guidance due to coronavirus impact

Reuters
(Reuters) – Apple Inc (AAPL.O) said on Monday it would not meet its revenue guidance for the March quarter because of the coronavirus outbreak slowing iPhone production and weakening demand in China. FILE PHOTO: The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th......
Reuters - Business

Timeline: Bombardier’s journey from Ski-Doo maker to business jet maker

Reuters
(Reuters) – Alstom SA on Monday agreed to buy Bombardier Inc’s train business for up to 6.2 billion euros ($6.7 billion), days after Airbus SE agreed to buy out Bombardier’s remaining stake in the A220 passenger jet program, helping the company improve its financial position. FILE PHOTO: The 100th Bombardier......
Reuters - Business

Apple says will not meet revenue guidance for March quarter due to coronavirus impact

Reuters
FILE PHOTO: The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar/File Photo (Reuters) – Apple Inc (AAPL.O) said on Monday that it will not meet its revenue guidance for the March quarter......
Reuters - Business

EU industry chief tells Facebook to adapt to EU, not other way round

Reuters
BRUSSELS (Reuters) – EU industry commissioner Thierry Breton said on Monday it was for Facebook to adapt to Europe’s standards, not the other way round, as he criticized the U.S. social media giant’s proposed internet rules as insufficient. The blunt comments came after a short meeting with Facebook CEO Mark......
Reuters - Business

U.S. mulls cutting Huawei off from global chip suppliers, with TSMC in crosshairs

Reuters
WASHINGTON (Reuters) – The Trump administration is considering changing U.S. regulations to allow it to block shipments of chips to Huawei Technologies from companies such as Taiwan’s TSMC (2330.TW), the world’s largest contract chipmaker, two sources familiar with the matter said. FILE PHOTO: The Huawei booth is shown during the......
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Amazon’s Bezos pledges $10 billion to climate change fight

Reuters
FILE PHOTO: Founder, Chairman, CEO and President of Amazon Jeff Bezos speaks during an event about Blue Origin’s space exploration plans in Washington, U.S., May 9, 2019. REUTERS/Clodagh Kilcoyne NEW YORK (Reuters) – Amazon Chief Executive Officer Jeff Bezos will commit $10 billion to fund scientists, activists, nonprofits and other......
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Euro zone ministers discuss fiscal boost options as virus worries weigh

Reuters
BRUSSELS (Reuters) – Euro zone finance ministers discussed ways to pursue a more growth-friendly fiscal policy mix on Monday, in a potential nudge to Germany and the Netherlands to spend more as fears of a downturn grow in the wake of the coronavirus epidemic. European Central Bank President Christine Lagarde......
Reuters - Business

Alstom to buy Bombardier rail unit for up to $6.7 billion

Reuters
PARIS/MONTREAL (Reuters) – France’s Alstom said on Monday it had agreed to buy the train division of Canada’s Bombardier for up to 6.2 billion euros ($6.7 billion), in the latest bid by Western rail companies to bulk up in the face of Chinese competition. Alstom, the maker of TGV bullet......
Reuters - Business

French government to ensure Alstom-Bombardier deal creates value: minister

Reuters
PARIS (Reuters) – The French government will make sure the acquisition of Bombardier’s train business by Alstom creates value for the European rail industry and the staff of both companies, Finance Minister Bruno Le Maire said on Monday. Le Maire also said in a statement that the planned deal will......
Reuters - Business

Exclusive: Italian government leaning towards third term for Eni CEO – sources

Reuters
ROME/MILAN (Reuters) – The Italian government is leaning toward reappointing Claudio Descalzi as CEO of state-controlled oil firm Eni, provided he will work with a new board to speed up efforts to cut carbon emissions, four senior political sources told Reuters. FILE PHOTO: Claudio Descalzi, CEO of Italian energy company......
Reuters - Business

Thyssenkrupp shortlists buyout firms for elevator unit, Kone out

Reuters
FRANKFURT/DUESSELDORF, Germany (Reuters) – Germany’s Thyssenkrupp (TKAG.DE) has shortlisted two private equity consortia in the sale of its 16 billion euro ($17 billion) elevator unit, dealing a blow to Finland’s Kone (KNEBV.HE), which withdrew from the closely watched deal. Logo is displayed in an elevator at the KONE Academy of......
Reuters - Business

Facebook sees risks to innovation, freedom of expression ahead of EU rules

Reuters
BRUSSELS (Reuters) – Facebook warned of threats to innovation and freedom of expression on Monday, ahead of the release of a raft of rules by the European Union this week and in the coming months to rein in U.S. and Chinese tech companies. Facebook Chairman and CEO Mark Zuckerberg meets......
Reuters - Business

EU industry chief warns of more onerous tech rules by year end

Reuters
BRUSSELS (Reuters) – The European Union will decide by the end of the year whether to impose rules reining in the market power of U.S. tech giants, the bloc’s industry chief said on Monday as he criticised Facebook’s proposals as insufficient to address EU concerns. The comments by EU industry......
Reuters - Business

Kone out as Thyssenkrupp shortlists private equity for elevator division

Reuters
FRANKFURT (Reuters) – German conglomerate Thyssenkrupp (TKAG.DE) said on Monday it has shortlisted two private equity consortia in the sale of its 16 billion euro ($17.3 billion) elevator division, dealing a blow to Finland’s Kone (KNEBV.HE), which withdrew from the closely watched deal. Logo is displayed in an elevator at......
Reuters - Business

Chinese support measures buoy world stocks

Reuters
LONDON (Reuters) – Global shares were buoyant on Monday as the promise of further policy stimulus from China to counteract the economic hit from a coronavirus outbreak calmed nervous investors. Trading was light, with U.S. stocks and bond markets shut for a public holiday. Both the pan-European STOXX 600 index......
Reuters - Business

Facebook warns of risks to innovation, freedom of expression ahead of EU rules

Reuters
Facebook Chairman and CEO Mark Zuckerberg meets with European Commissioner for Values and Transparency Vera Jourova at the EU Commission headquarters in Brussels, Belgium February 17, 2020. REUTERS/Yves Herman BRUSSELS (Reuters) – Facebook warned of threats to innovation and freedom of expression on Monday, ahead of the release of a......
Reuters - Business

Alstom in talks over $7 billion Bombardier rail deal

Reuters
PARIS (Reuters) – France’s Alstom (ALSO.PA) is in talks to buy the train business of Canada’s Bombardier (BBDb.TO) in a potential $7 billion deal that marks the latest attempt by Western rail companies to bulk up in the face of Chinese competition. Alstom, the maker of TGV bullet trains that......
Reuters - Business

Alstom confirms talks on potential $7 billion Bombardier deal

Reuters
PARIS (Reuters) – French train maker Alstom (ALSO.PA) has confirmed it is in talks on the possible acquisition of the train business of Canada’s Bombardier (BBDb.TO), a potential $7 billion deal that could help it build scale in the increasingly competitive rail sector. FILE PHOTO: Trains are seen at the......
Reuters - Business

WTO gives somber outlook for global trade, sees virus threat

Reuters
A traffic light is turned red in front of the WTO headquarters in Geneva, Switzerland, December 10, 2019. REUTERS/Denis Balibouse BRUSSELS (Reuters) – Growth of global trade in goods is likely to remain weak in early 2020, the World Trade Organization (WTO) said on Monday, adding that the below-trend performance......
Reuters - Business

Cathay Pacific flags ‘significant’ drop in first-half profit, capacity cuts due to coronavirus

Reuters
FILE PHOTO: A passenger walks to the First Class counter of Cathay Pacific Airways at Hong Kong Airport in Hong Kong, China April 4, 2018. REUTERS/Bobby Yip/File Photo (Reuters) – Cathay Pacific Airways (0293.HK) is expecting a significant drop in its first-half results and has also cut capacity due to......

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