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Reuters - Business

Broadcom’s revenue forecast disappoints on weakness in chip business

Reuters
FILE PHOTO: A sign to the campus offices of chip maker Broadcom Ltd is shown in Irvine, California, U.S., November 6, 2017. REUTERS/Mike Blake/File Photo (Reuters) – Broadcom Inc (AVGO.O) on Thursday forecast current-quarter revenue, the midpoint of which was slightly below analysts’ estimates as its chip business took a......
Reuters - Business

Pilgrim’s Pride CEO indicted over alleged U.S. chicken price-fixing

Reuters
WASHINGTON/CHICAGO (Reuters) – The chief executive of Pilgrim’s Pride Corp, a major U.S. poultry company, was indicted along with three other current and former industry executives on charges of seeking to fix the price of chickens, the Justice Department said on Wednesday. FILE PHOTO: Chickens are displayed for sale in......
Reuters - Business

U.S. indicts Pilgrim’s Pride Corp CEO for alleged chicken price-fixing

Reuters
WASHINGTON/CHICAGO (Reuters) – The chief executive of Pilgrim’s Pride Corp, a major U.S. poultry company, was indicted along with three other current and former industry executives on charges of seeking to fix the price of chickens, the Justice Department said on Wednesday. Pilgrim’s Pride shares fell 14% around midday. A......
Reuters - Business

U.S. launches trade probe into digital taxes, plowing ground for new tariffs

Reuters
FILE PHOTO: U.S. Trade Representative Robert Lighthizer listens as U.S. President Donald Trump meets with Bahrain Crown Prince Salman bin Hamad Al Khalifa during a meeting in the Oval Office of the White House in Washington, U.S., September 16, 2019. REUTERS/Al Drago WASHINGTON (Reuters) – The U.S. Trade Representative’s office......
Reuters - Business

U.S. sanctions four shipping firms for transporting Venezuelan oil

Reuters
(Reuters) – The U.S. Treasury Department on Tuesday said it had sanctioned four shipping firms for transporting Venezuelan oil, the latest escalation in Washington’s effort to oust socialist President Nicolas Maduro by cutting off the OPEC nation’s crude exports. FILE PHOTO: U.S. Secretary of State Mike Pompeo speaks to the......
Reuters - Business

JPMorgan, Barclays settle Mexican bond rigging litigation

Reuters
FILE PHOTO: A sign of JP Morgan Chase Bank is seen in front of their headquarters tower in Manhattan, New York, U.S., November 13, 2017. REUTERS/Amr Alfiky NEW YORK (Reuters) – JPMorgan Chase & Co (JPM.N) and Barclays Plc (BARC.L) will pay $20.7 million to resolve investors’ claims they conspired......
Reuters - Business

Workers return to Mexico’s border factories as auto sector reopens

Reuters
CIUDAD JUAREZ (Reuters) – Tens of thousands of workers lined up before dawn to return to work at automotive factories along Mexico’s northern border on Monday, the first day that industries joined the country’s list of essential activities beginning to reopen. Employees of Flex, a company producing specialized harness products......
Reuters - Business

Boeing takes Embraer to arbitration over failed aviation deal

Reuters
FILE PHOTO: A Boeing logo is seen at the company’s facility in Everett, Washington, U.S. January 21, 2020. REUTERS/Lindsey Wasson/File Photo SAO PAULO (Reuters) – Boeing Co (BA.N) has taken former partner Embraer SA (EMBR3.SA) to arbitration over a failed $4.2 billion deal, the Brazilian planemaker said in a securities......
Reuters - Business

U.S. Supreme Court rebuffs investors’ bid to block Madoff trustee lawsuits

Reuters
FILE PHOTO: Bernard Madoff exits the Manhattan federal court house in New York on January 14, 2009. REUTERS/Brendan McDermid/File Photo (Reuters) – The U.S. Supreme Court on Monday refused to hear a bid by major banks and companies including Koch Industries Inc to prevent a trustee chasing money for victims......
Reuters - Business

Exclusive: Mexican broadcaster Televisa to launch mobile phone service, challenging Slim

Reuters
MEXICO CITY (Reuters) – Mexican broadcaster Televisa said on Sunday it will start offering mobile phone service, a bid to challenge billionaire Carlos Slim’s America Movil, which has long dominated the country’s telecommunications market. FILE PHOTO: The logo of broadcaster Televisa is pictured at its offices in Ciudad Juarez, Mexico,......
Reuters - Business

Embraer negotiating $600 million bank financing for exports

Reuters
FILE PHOTO: The logo of Brazilian planemaker Embraer SA is seen at the company’s headquarters in Sao Jose dos Campos, Brazil February 28, 2018. REUTERS/Roosevelt Cassio/File Photo RIO DE JANEIRO (Reuters) – Brazilian planemaker Embraer SA (EMBR3.SA), the world’s third largest commercial jet builder, should obtain $600 million in credit......
Reuters - Business

EU trade commissioner Hogan mulling candidacy for WTO chief

Reuters
BRUSSELS (Reuters) – European trade commissioner Phil Hogan is considering putting his name forward as a candidate to be the next director-general of the World Trade Organization, his spokesman said on Sunday. FILE PHOTO: European Trade Commissioner-designate Phil Hogan of Ireland attends his hearing before the European Parliament in Brussels,......
Reuters - Business

Workers nervously eye return to Lear’s coronavirus-hit plant in Mexico

Reuters
CIUDAD JUAREZ, Mexico (Reuters) – Lear Corp is implementing costly safety measures that may hurt productivity at its operations in Mexico after suffering the deadliest known factory-related coronavirus outbreak in the Americas, but the U.S. auto parts maker still faces a battle to win back workers’ trust. An employee of......
Reuters - Business

United Airlines cutting 13 top jobs, adding international flights in July

Reuters
(Reuters) – United Airlines Holdings Inc (UAL.O) said on Friday it will eliminate 13 officer positions even as it adds international flights back to its network, part of a restructuring to address the hit on its business from the coronavirus pandemic. FILE PHOTO: A United Airlines passenger jet takes off......
Reuters - Business

Exclusive: Brazil’s Embraer draws foreign interest after Boeing rift – sources

Reuters
SAO PAULO/NEW DELHI/PARIS (Reuters) – Aircraft makers are circling Brazil’s Embraer (EMBR3.SA) weeks after Boeing (BA.N) ditched plans for a historic commercial aviation tie-up, people familiar with the matter said. FILE PHOTO: The logo of Brazilian planemaker Embraer SA is seen at the company’s headquarters in Sao Jose dos Campos,......
Reuters - Business

Germany’s Bosch to begin restarting operations in Mexico

Reuters
FILE PHOTO: The logo of German multinational engineering and electronics company Bosch is pictured at the company’s stand during the Hannover Fair in Hanover, Germany, April 25, 2016. REUTERS/Wolfgang Rattay MEXICO CITY (Reuters) – German automotive supplier Bosch on Monday said it has received government approval in Mexico to restart......
Reuters - Business

Ford sets May 28 as provisional date for gradual restart of Mexican plant

Reuters
FILE PHOTO: The corporate logo of Ford is seen at Brussels Motor Show, Belgium January 9, 2020. REUTERS/Francois Lenoir MEXICO CITY (Reuters) – U.S. automaker Ford has set May 28 as a provisional date for the gradual restart of its plant in Hermosillo, Mexico, according to a letter to workers......
Reuters - Business

Mexico’s auto industry restart gathers steam, Ford still waiting

Reuters
MEXICO CITY (Reuters) – Mexico’s auto industry reopening picked up pace on Tuesday, with Fiat Chrysler (FCHA.MI) and BMW AG (BMWG.DE) joining peers in gradually dusting off operations even as the wait for approvals slowed the return of Ford Motor Co (F.N) and other companies. FILE PHOTO: The corporate logo......
Reuters - Business

LATAM becomes largest airline yet driven to bankruptcy by coronavirus

Reuters
(Reuters) – Chile’s LATAM Airlines Group (LTM.SN) filed for U.S. bankruptcy protection on Tuesday, becoming the world’s largest carrier so far to seek an emergency reorganization due to the coronavirus pandemic. FILE PHOTO: The logo of LATAM Airlines is pictured on an Airbus plane in Colomiers near Toulouse, France, November......
Reuters - Business

Global airlines body raises alarm over bailout debts

Reuters
PARIS (Reuters) – Heavy debts inherited from government bailouts and other fund-raising moves will delay the airline industry’s recovery from the coronavirus crisis, a trade body said on Tuesday. FILE PHOTO: A logo of the International Air Transport Association (IATA) is pictured before and an interview with Reuters on the......

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