Business

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China clamps down on excess steel as Japan decries Trump 'protectionism'

MANILA/BEIJING (Reuters) - Twenty-nine Chinese steel firms have had their licenses revoked as Beijing kept up its campaign to tackle overcapacity in the sector and days after U.S. President Donald Trump said he would open a probe into cheap steel exports from China and elsewhere.<p>Analysts say the …

China

American Airlines Flight Attendant Suspended After Video Shows Confrontation

American Airlines is investigating an incident captured on video showing an argument that broke out after a male flight attendant reportedly hit a female passenger with a stroller while she was holding her baby.<p>The incident occurred Friday on Flight 591 from San Francisco, California, to …

Aviation

Report: Companies not complying with Bangladesh garment plan

DHAKA, Bangladesh (AP) — Dozens of global clothing companies are not complying with a plan to ensure better safety in Bangladesh garment factories following the deadly collapse of a building four years ago, a rights group said Monday.<p>Only 29 out of 72 recently contacted companies are releasing …

Finance

French Auto Investors Relieved By Election Outcome As Round 2 Looms

French auto stocks Renault and Peugeot both zoomed ahead Monday after opinion polls indicated a candidate favorable to industry, the centrist candidate Emmanuel Macron, would win the crucial second round on May 7.<p>The first round of the French presidential election was won Sunday by Macron with …

France

Frito-Lay Recalls 2 Jalapeño Flavored Products Over Salmonella Fears

Frito-Lay is voluntarily recalling two jalapeño flavored potato-chip products over Salmonella fears.<p>The company says in a press statement that the …

Flu

Inflation puts the brakes on Britain's economic activity

Official GDP estimate – due on Friday – will reflect how weaker pound has pushed up the cost of imported goods<p>Britain’s economy cooled considerably in the first three months of the year as higher inflation put a squeeze on disposable incomes, official figures are expected to show this week.<p>The …

Economics

Halliburton Reports Smaller Quarterly Loss

Halliburton reported a smaller quarterly loss from a year earlier, when the oilfield service provider recorded $2.77 billion in charges.<p>Net loss attributable to Halliburton narrowed to $32 million, or 4 cents per share, in the first quarter ended March 31, from $2.41 billion, or $2.81 per share, a …

Markets

Rally from here will be earnings-based: Sechan

Discussing the markets as stocks rally on French election results with Rob Sechan, UBS Private Wealth, and the "Fast Money Halftime Report" traders.

Cashin: Risk appetite returns to market after French election

CNBC's Bob Pisani and Art Cashin, of UBS, share their thoughts on the trading week ahead, including North Korea, President's Trump's agenda and GDP …

Stocks

BoAML: May be at the end of the Trump put

Dan Suzuki, Bank of America Merrill Lynch senior U.S. equity strategist, and Greg Peters, Prudential Fixed income senior investment officer, discuss …

Merrill Lynch

Strategas: Government Shutdown this Week Is Unlikely - Income Investing

By Amey Stone<p>The government will run out of money on Friday. But that doesn’t mean it will shut down this week.<p><b>Dan Clifton</b>, head of policy research …

Government Shutdown

Canada is launching an experiment that will give 4,000 people free money until 2020

Finland, The Netherlands, and San Francisco, California have already shown their interest in giving people a regular monthly allowance — a system known as basic income.<p>Now Ontario, Canada, is planning its own basic income trial as well.<p>On April 24, Premier Kathleen Wynne outlined new details of the …

Basic Income

Hash browns recalled for having pieces of golf balls in them

A food company has recalled hash brown packages in nine states thanks to an unintended ingredient — golf balls.<p>McCain Foods USA announced that is voluntarily recalling frozen hash brown products "that may be contaminated with extraneous golf ball materials," according to a release on the Food and …

Golf

Tesla: Q1 2017 Earnings Preview

Company announced record quarterly deliveries.<p>Will margins jump on autopilot revenues?<p>How do things look after first full SolarCity quarter?<p>After the …

Stocks

will.i.am to mix tech know-how with banking at Britain's Atom

LONDON (Reuters) - Britain's Atom has hired pop star will.i.am as a strategic adviser to its board as the app-based bank seeks to grow.<p>Atom is the latest foray into digital technology for the rapper-turned-entrepreneur who has launched a smartwatch with Deutsche Telekom and partnered with tech …

Banking

Saudi Arabia reverses pay cuts for state workers

King Salman of Saudi Arabia has rolled back wage and benefit cuts imposed on top ministers and other public workers.<p>The move reverses some of the austerity measures implemented in October in an effort to shore up the kingdom's finances and end its dependence on oil.<p>A royal decree released through …

Oil

Microsoft's Nadella banks on LinkedIn data to challenge Salesforce

SAN FRANCISCO – Microsoft Corp is rolling out upgrades to its sales software that integrates data from LinkedIn, an initiative that Microsoft CEO Satya Nadella told Reuters was central to the company's long-term strategy for building specialized business software.<p>The improvements to Dynamics 365, …

Microsoft

Mexico inflation rises to nearly 8-year high in early April

MEXICO CITY (Reuters) - Mexican annual inflation rose more than expected in early April to hit its fastest pace in nearly 8 years, which could bode for further interest rate hikes from the central bank.<p>Inflation for the year through mid-April was 5.62 percent <MXCPHI=ECI>, the national statistics …

Price Index

Trump's budget director suggests wall fight won't trigger shutdown

Here's our look at the Trump administration and the rest of Washington:<p><b>Trump's budget director</b> says wall fight won't trigger government shutdow• <b><br>Justice Department</b> pushes California and 8 other jurisdictions on "sanctuary cities"• <b><br>Trump</b> tweets that shooting in Paris will have "big impact" on French …

Tax Reform

Why Barcelona Is Actively Trying to Push Away Tourists

Barcelona is making it clear that tourists are no longer as welcome as they once were.<p>Two days after it banned all new hotels from the city center, …

Spain

Justices turn away GM appeal over ignition switches

WASHINGTON (AP) — The Supreme Court has turned away an appeal from General Motors Co. seeking to block dozens of lawsuits over faulty ignition switches that could expose the company to billions of dollars in additional claims.<p>The justices on Monday left in place a lower court ruling that said the …

Lawsuits

Investors Pull Out of High-Yield Funds as Growth Favors Stocks - Bloomberg

Investors are pulling money out of high-yield bond funds at the fastest rate since June as rebounding growth boosts the allure of European …

Stocks

Wolfe Research names favorite large-cap longs and shorts

Wolfe Research thinks the market is set up for short plays, calling the current enviroment "one of the most fertile grounds we’ve found for new short …

Stocks

Dubai state-backed DAE buys aircraft leasing firm AWAS

DUBAI, United Arab Emirates (AP) — Aircraft leasing company Dubai Aerospace Enterprise has agreed to buy rival AWAS, more than tripling the size of its fleet.<p>DAE said Monday it agreed to buy the Dublin-based company from funds managed by its shareholders, Terra Firma Capital Partners and the …

Dubai

These border towns could be first to get Trump’s “big, beautiful” wall

Despite more than a year of campaign rhetoric about a “big, beautiful wall” spanning the entirety of the southern border, the Trump administration plans to start with a much less ambitious footprint focusing only on the most highly trafficked corridors, according to a Department of Homeland …

Immigration Law

China is squeezing North Korea - but not too hard

President Trump wants China to pressure North Korea over its nuclear weapons program. But will Beijing play ball?<p>China wields huge influence over the North Korean economy, accounting for more than 80% of its smaller neighbor's foreign trade and serving as its main gateway to the rest of the …

North Korea

Natural Gas Is Eerily Quiet As It Grinds Its Way Towards $3

The warm winds of spring.<p>Inventory increases had little effect on the price.<p>$3 is a significant psychology level.<p>Winter is a long way off, but four …

Commodities

Driverless cars trial set for UK motorways in 2019

<b>A consortium of British companies has unveiled a plan to test driverless cars on UK roads and motorways in 2019.</b><p>The Driven group also plans to try out a fleet of autonomous vehicles between London and Oxford.<p>The cars will communicate with each other about any hazards and should operate with almost …

Driverless Cars

Japan's Nikon sues ASML, Zeiss for using chip-making knowhow

TOKYO (AP) — Nikon Corp. says it has taken legal action in the Netherlands, Germany and Japan over use of its semiconductor making technology by ASML Holding N.V. and Carl Zeiss SMT GmbH.<p>Nikon said in a statement issued Monday that it was seeking to stop ASML and its supplier Zeiss from using its …

Finance

German business confidence up in April, beats forecasts

BERLIN (AP) — A survey shows that business confidence in Germany, Europe's biggest economy, has beaten economists' expectations to rise to a six-year high as companies take a brighter view of their current situation.<p>The Ifo institute said Monday that its closely watched confidence index rose to …

Finance

Gold is getting crushed after the French election

LONDON — The price of gold is diving on Monday morning after centrist candidate Emmanuel Macron won the biggest share of the vote in the first round of France's presidential election on Sunday.<p>Macron taking the lead is generally seen as a big bonus in the markets, largely because his strongly …

Marine Le Pen

Economic Survey Finds Optimism About Growth Prospects

Business economists are generally optimistic about the U.S. economy with most expecting stronger growth than last year's poor performance.<p>Economists surveyed by the National Association for Business Economics also expect improved or unchanged sales and profits at their companies in the second …

Finance

Trump sons seek to extend family brand into domestic markets

NEW YORK (AP) — President Donald Trump's older sons are sizing up new opportunities to extend the family brand.<p>Eric and Donald Trump Jr. are considering creating two new hotel chains, one a four-star affair and the other a less luxurious line. They are eyeing expanding operations into parts of the …

Donald Trump

Oil workers' strike triggers gas lines in Sri Lanka

COLOMBO, Sri Lanka (AP) — Long lines have formed at gasoline stations across Sri Lanka as workers of a state-run petroleum corporation went on strike to protest the government's move to lease out dozens of oil tanks to neighboring India.<p>D.J. Rajakaruna, secretary of the Ceylon Petroleum Common …

Finance

World Bank, AIIB deepen cooperation

Partner or rival? The World Bank and AIIB have agreed to deepen their cooperation with a framework for knowledge sharing, staff exchanges, analytical …

World Bank

Gas Prices Rise 3 Cents to $2.46 a Gallon

The average price of a gallon of regular-grade gasoline jumped 3 cents nationally over the past two weeks, to $2.46.<p>Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that consumers could see price increases slow as crude oil costs drop.<p>The national average is 28 cents per gallon …

Oil

APNewsBreak: Dodgers, Yankees cut projected luxury tax bills

NEW YORK (AP) — The Los Angeles Dodgers and New York Yankees are cutting payroll and their luxury tax bills — just as Bryce Harper, Manny Machado and perhaps Clayton Kershaw near the free-agent market after the 2018 season.<p>The Dodgers are on track to slice their tax bill by about a quarter this …

New York Yankees

Cement multinational CEO resigns after Syria deals

PARIS (AP) — Cement group LafargeHolcim says its chief executive officer is resigning, weeks after the multinational acknowledged that its branch in northern Syria had struck deals with armed groups so that it could keep business there running.<p>The resignation of Eric Olsen is effective July 15, the …

Syria

Luxury shoe maker Jimmy Choo puts itself up for sale

Luxury shoe maker Jimmy Choo is to put itself up for sale, it has announced.<p>The London-listed company - made famous as the brand of choice for Sex & The City character Carrie Bradshaw - is to conduct a review of "the various strategic options open to the company to maximise value for its …

Markets

Oil Recovers, But Market Remains Under Pressure

Oil prices recovered ground on Monday following last week's big losses, driven by expectations that OPEC will extend a pledge to cut output to cover all of 2017, although a relentless rise in U.S. drilling capped gains.<p>U.S. West Texas Intermediate (WTI) crude oil futures added 26 cents, or 0.5 …

Oil