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Reuters - Business

Bankrupt Philadelphia refinery expects second insurance payment

Reuters
FILE PHOTO: The Philadelphia Energy Solutions plant refinery is seen in Philadelphia, Pennsylvania, U.S., August 21, 2019. REUTERS/Mark Makela/File Photo (Reuters) – Insurers of Philadelphia Energy Solutions (PES) have indicated they will make a second payment of $15 million from its property policy in connection to the June fire and...
Reuters - Business

Facebook, privacy activist Schrems battle nears end on Dec. 19

Reuters
BRUSSELS (Reuters) – Austrian privacy activist Max Schrems’ seven-year battle against Facebook reaches a crucial point on Dec. 17 when an adviser to Europe’s top court will issue his view on whether tools used by companies to transfer data abroad are legal or not. FILE PHOTO: Facebook logos are seen...
Reuters - Business

Bristol-Myers wins $752 million in U.S. patent case against Gilead

Reuters
FILE PHOTO: Logo of global biopharmaceutical company Bristol-Myers Squibb is pictured on the blouse of an employee in Le Passage, near Agen, France March 29, 2018. REUTERS/Regis Duvignau (Reuters) – Bristol-Myers Squibb Co (BMY.N) on Friday said it won a $752 million jury verdict against Gilead Sciences Inc (GILD.O) in...
Reuters - Business

Exclusive: Hudson’s Bay Co’s take-private deal falls short in shareholder vote – sources

Reuters
(Reuters) – Saks Fifth Avenue owner Hudson’s Bay Co (HBC.TO) has fallen short of securing enough shareholder support for a C$1.9 billion($1.4 billion) deal to take the department store operator private, people familiar with the matter said on Friday. FILE PHOTO: A pedestrian walks past a Hudson’s Bay company sign...
Reuters - Business

Boeing bows out of multibillion-dollar Minuteman missile replacement competition

Reuters
FILE PHOTO: The Boeing logo is displayed on a screen, at the New York Stock Exchange (NYSE) in New York, U.S., August 7, 2019. REUTERS/Brendan McDermid WASHINGTON (Reuters) – Boeing Co (BA.N) has decided not to compete as a prime contractor to replace the Pentagon’s aging U.S.-based Minuteman III missile...
Reuters - Business

Global shares gain, oil rises, but caution lingers on U.S.-China deal

Reuters
NEW YORK (Reuters) – Global equity markets and oil prices rose on Friday after China and the United States agreed on an initial trade deal that rolls back some U.S. tariffs in exchange for China’s increased purchase of farm goods, coming just ahead of a deadline for a new round...
Reuters - Business

Wall Street steady as U.S., China announce trade deal

Reuters
(Reuters) – The S&P 500 and the Dow industrials ended little changed on Friday, hitting record highs in the session, as the United States and China announced an initial trade agreement, cooling tensions that have rattled markets. FILE PHOTO: Traders work on the floor of the New York Stock Exchange...
Reuters - Business

U.S. prosecutor calls on UAW to cooperate, probe may widen

Reuters
DETROIT (Reuters) – The U.S. Attorney leading the investigation of corruption within the United Auto Workers (UAW) told Reuters on Friday the union’s leadership still is not fully cooperating with the government, but that individuals are giving federal investigators tips that could expand the probe. FILE PHOTO: United Auto Workers...
Reuters - Business

China says reached phase one deal with U.S., to cancel Sunday tariffs

Reuters
BEIJING (Reuters) – China and the United States have agreed on the text of a phase one trade deal, and Beijing has decided to cancel an earlier plan to impose additional tariffs on U.S. imports on Dec. 15, senior Chinese government officials said on Friday. The United States has promised...
Reuters - Business

U.S. agency probes 12th Tesla crash tied to possible Autopilot use

Reuters
TFILE PHOTO: he company logo is pictured on a Tesla Model X electric car in Berlin, Germany, November 13, 2019. REUTERS/Fabrizio Bensch WASHINGTON (Reuters) – The U.S. auto safety agency said Friday it will investigate a 12th Tesla crash that may be tied to the vehicle’s advanced Autopilot driver assistance...
Reuters - Business

T-Mobile CEO takes the stand in T-Mobile/Sprint merger trial

Reuters
FILE PHOTO: T-Mobile US Inc Chief Executive Officer John Legere arrives at Manhattan Federal Court during the T-Mobile/Sprint federal case in New York, U.S., December12, 2019. REUTERS/Shannon Stapleton (Reuters) – T-Mobile US Inc (TMUS.O) Chief Executive John Legere testified on Friday that he believes U.S. regulators considered Dish Network’s (DISH.O)...
Reuters - Business

Oil nears three-month high as trade hopes, UK election boost sentiment

Reuters
NEW YORK (Reuters) – Oil rose on Friday to its highest in nearly three months as investors cheered progress in resolving the U.S.-China trade dispute and a decisive general election result in Britain. FILE PHOTO: Oil pump jacks work at sunset near Midland, Texas, U.S., August 21, 2019. Picture taken...
Reuters - Business

China to buy additional $32 billion in U.S. farm goods over two years, sign deal in January: USTR

Reuters
WASHINGTON (Reuters) – China has agreed to buy $32 billion of additional U.S. farm products over two years as part of a phase one trade pact, U.S. Trade Representative Robert Lighthizer told reporters on Friday, adding the deal would be signed the first week of January. FILE PHOTO: U.S. Trade...
Reuters - Business

U.S. may impose tariffs on Chinese imports if any disputes: Kudlow

Reuters
FILE PHOTO: U.S. Director of the Economic Council Larry Kudlow speaks during the Wall Street Journal CEO Council, in Washington, U.S., December 10, 2019. REUTERS/Al Drago WASHINGTON (Reuters) – The United States could levy tariffs against China if there are any disputes, White House economic adviser Larry Kudlow said about...
Reuters - Business

U.S.-China trade deal swaps tariff rollbacks for farm, energy purchases

Reuters
WASHINGTON/BEIJING (Reuters) – The United States and China cooled their trade war on Friday, announcing a “Phase one” agreement that reduces some U.S. tariffs in exchange for increased Chinese purchases of American farm products and other goods. Beijing has agreed to buy $32 billion in additional agricultural goods over the...
Reuters - Business

How ethanol plant shutdowns deepen pain for U.S. corn farmers

Reuters
RACCOON TOWNSHIP, Ind./NEW YORK (Reuters) – When the U.S. ethanol industry was booming, Indiana farmer Paul Hodgen made good money selling about a quarter of his crop to a local facility that produced the corn-based fuel. FILE PHOTO: Corn rests on the ground on Hodgen Farm in Roachdale, Indiana, U.S....
Reuters - Business

The U.S. will phase out China tariffs, Beijing officials say

Reuters
FILE PHOTO: Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019. REUTERS/Aly Song BEIJING/WASHINGTON (Reuters) – The United States has agreed to phase out tariffs on Chinese goods, Chinese officials said at a press conference...
Reuters - Business

U.S. business inventories rebound in October

Reuters
WASHINGTON, (Reuters) – U.S. business inventories increased in October, lifted by stocks at retailers, suggesting inventory investment could again contribute to economic growth in the fourth quarter. The Commerce Department said on Friday that business inventories rose 0.2% after slipping 0.1% in September. Inventories are a key component of gross...
Reuters - Business

China delays media briefing on U.S. trade talk

Reuters
FILE PHOTO: Flags of U.S. and China are displayed at American International Chamber of Commerce (AICC)’s booth during China International Fair for Trade in Services in Beijing, China, May 28, 2019. REUTERS/Jason Lee BEIJING (Reuters) – China has postponed a news briefing to give an update on progress in trade...

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