Business

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Walmart warns Trump tariffs may force price hikes: letter

(Reuters) - Walmart Inc (WMT.N) said that it may hike prices of products if the Trump administration imposes a tariff on Chinese imports, according to a letter the company wrote to U.S. Trade Representative Robert Lighthizer two weeks ago and seen by Reuters on Thursday.<p>FILE PHOTO: A Walmart store …

Tariffs

Wells Fargo plans to cut up to 26,500 jobs over three years

Wells Fargo plans to cut as many as 26,500 jobs over three years as the troubled bank grapples with the rise of online banking and soaring legal bills.<p>CEO Tim Sloan said on Thursday that Wells Fargo (WFC) plans to cut 5% to 10% of its 265,000-person workforce. He cited "changing customer …

Wells Fargo

Google Warned Senators, Aides Of Hacking Attempts On Personal Emails

Google has warned some senators and Senate aides that their personal Google accounts have been targets of attempted hacks backed by foreign governments, the company confirmed on Thursday.<p>Sen. Ron Wyden, D-Ore., wrote to Senate leaders on Wednesday that his office has discovered a number of senators …

Cyber-attacks

Adobe buys Marketo for $4.75 billion

The deal is Adobe's largest ever and puts the company in more direct competition with Oracle and Salesforce.<p>Adobe just announced that it is buying …

Adobe

Tesla loses another exec: VP of supply chain management Liam O'Connor

Tesla is losing another executive -- its vice president of global supply management Liam O'Connor, is said to be leaving the electric vehicle …

Tesla Model 3

Facebook to Give Less Direct Support to Trump in 2020 Campaign

Facebook Inc. said that for future presidential campaigns, it will pull back from the kind of on-site support it gave Donald Trump for his 2016 …

Hillary Clinton

Uber 'in talks to buy Deliveroo'

Uber is in early talks to buy British food delivery startup Deliveroo, according to reports.<p>The Californian ride-hailing giant is understood to have approached Deliveroo, understood to be worth around $2bn, sources familiar with the matter told Bloomberg.<p>The sources, who wished to remain anonymous, …

Food (UK)

This analyst is 'still bullish' on US markets

Wayne Kaufman of Phoenix Financial Services says the U.S. markets have been rising despite seeing "all kinds of negativity."

Financial Services

China taking a less 'aggressive' approach to trade tariffs: Expert

Eric Robertsen, global head, FX, rates and credit research at Standard Chartered, says China is taking a less 'aggressive' approach to tariffs given …

Tariffs

Cramer Remix: This rally could be 'built to last'

Jim Cramer details what the rotation out of growth and into value means for the bull market.

Remixes

As Danske Counts Costs of Money-Laundering Failures, U.S. Looms

The potential costs of Danske Bank A/S’s money-laundering scandal are climbing. How high the bill goes may ultimately depend on the U.S. …

Money Laundering

The Auto Industry’s VHS-or-Betamax Moment

The auto industry has a choice to make: Which language will cars speak when they talk to one another?<p>Until a couple of years ago, automakers agreed on one vehicle-to-vehicle communications platform, called dedicated short-range communications, or DSRC, based on the technology used for Wi-Fi. But …

USDOT

Oil prices mixed as Trump calls on OPEC to lower prices

SEOUL (Reuters) - Oil prices were mixed on Friday after falling in the previous session as U.S. President Donald Trump urged OPEC to lower crude prices ahead of its meeting in Algeria this weekend.<p>International benchmark Brent crude for November delivery <LCOc1> was up 5 cents at $78.75 a barrel by …

Oil

Goldman Backs Commodities as Investors Shrug Off Trade War Shots

Commodity bull Goldman Sachs Group Inc. says raw materials are poised to gain into the end of the year as investors have now become used to trade-war …

Globalization

In debut, China's state copper firms, Trafigura line up to trade ShFE options

BEIJING/SHANGHAI (Reuters) - Swiss trading house Trafigura and China's top copper producers Tongling Nonferrous Metals and Jiangxi Copper were among the first to trade copper options at their debut on Friday, as the Shanghai Futures Exchange challenges New York and London rivals.<p>The Swiss group, …

China

S&P Raises Australia AAA Outlook to Stable on Surplus Confidence

S&P Global Ratings raised its outlook on Australia’s AAA credit rating to stable from negative, saying it expects the government to return to a …

S&P Global

China Really Wants You To Know Financial Opening Is Happening

If there’s one thing Chinese leaders wanted you to know in the past week, it’s that they are fully committed to opening the nation’s financial sector.<p>…

China

Dollar struggles near 2-1/2-month lows, yen slips as risk aversion ebbs

TOKYO (Reuters) - The dollar struggled near 2-1/2 month lows, while the yen also sagged on Friday on reduced safe haven demand amid a switch in investors' view that the Sino-U.S. trade conflict would not lead to an immediate global shock.<p>The dollar index (.DXY) against a basket of six major …

Markets

BOJ Cuts Purchases of Super-Long Bonds for First Time Since July

The Bank of Japan lowered purchases of super-long maturity bonds at its regular operation on Friday, the first reduction in the segment since …

Central Banks

American Airlines Is The Latest To Raise Checked-Baggage Fees

Airline travelers should prepare to dig deeper or pack lighter, as many of the biggest U.S. airlines have now raised the price for checking luggage.<p>American Airlines, the largest air carrier by passenger volume, is the latest to do so, announcing Thursday that it will raise fees from $25 to $30 for …

American Airlines

Asian stocks extend recovery as trade worries take back seat

TOKYO (Reuters) - Asian stocks extended gains on Friday after Wall Street's S&P 500 set a new all-time high, while the dollar slipped on views that Beijing's and Washington's fresh exchange of tariffs may be less damaging than initially feared.<p>MSCI's broadest index of Asia-Pacific shares outside …

European Union

Billionaire Bank Founder Falls Foul of India Bad-Debt Battle

India’s central bank has again shown its teeth as regulator of the country’s private-sector banks with the decision to end Rana Kapoor’s term as …

Central Banks

Sony Extends Colorful Movie Chairman’s Reign, Citing Turnaround

LOS ANGELES — He’s going to be fired any minute. So insisted Hollywood gossipmongers for much of last year about Thomas E. Rothman, the larger-than-life chairman of Sony’s Motion Picture Group.<p>How times have changed.<p>Sony Pictures Entertainment has signed Mr. Rothman, 63, to a new multiyear contract …

Sony Pictures

Facebook to drop on-site support for political campaigns

SAN FRANCISCO (Reuters) - Facebook Inc (FB.O) said on Thursday that it would no longer dispatch employees to the offices of political campaigns to offer support ahead of elections, as it did with U.S. President Donald Trump in the 2016 race.<p>The company and other major online ad sellers including …

San Francisco

Nafta's Latest Deadline Day Came and Went Without a Canada Deal

Nafta talks have probably missed the latest in a string of deadlines, leaving all eyes on the U.S. over what will happen next.<p>U.S. Trade …

Auto Tariffs

Medtronic Agrees to Buy Mazor Robotics in $1.6 Billion Deal

Medtronic Plc, agreed to buy Mazor Robotics Ltd., a maker of robotic guidance systems, in a $1.64 billion cash deal to strengthen its position in …

Surgery

Adobe to buy marketing software firm Marketo for $4.75 billion

(Reuters) - Adobe Systems Inc on Thursday agreed to buy Marketo Inc for $4.75 billion from private equity firm Vista Equity Partners Management, adding heft to its cloud-based digital marketing business.<p>The U.S. Photoshop maker is sharpening its focus on the fast-growing cloud business, a fiercely …

Digital Marketing

Support in UK for more tax and spending at 15-year high: survey

LONDON (Reuters) - Support in Britain for increased levels of tax to fund more public spending has hit a 15-year high, according to a survey published on Friday, after nearly a decade of government efforts to cut its budget deficits.<p>The National Centre for Social Research (NatCen) said its survey, …

Budget Deficit

Get Free Credit Freezes from Equifax, Experian, TransUnion Starting Sept. 21

Credit freezes at the three major credit-reporting bureaus will be free across the U.S. starting on Sept. 21 after a new federal law takes …

California makes people ask for straws, sodas with kid meals

SACRAMENTO, Calif. (AP) — If you want a straw with your drink or a soda with a kids' meal at a California restaurant, you'll need to ask for them starting next year.<p>A law signed Thursday by Gov. Jerry Brown makes California the first state to bar full-service restaurants from automatically giving …

Fast Food

New York lawsuit targets student loan debt relief fraud

NEW YORK (Reuters) - New York's attorney general on Thursday sued 10 companies and two executives over their alleged roles in a scam to induce thousands of struggling borrowers into buying student loan debt relief services that they could have received for free.<p>Barbara Underwood, the attorney …

Student Finance

Hackers Steal $59 Million In Cryptocurrency From Japanese Exchange

Last week, hackers stole an estimated $59 million from a Japanese cryptocurrency exchange called Zaif, according to a statement released Thursday by the owners of the exchange.<p>According to Cointelegraph, the Tech Bureau Corp. said the breach occurred on September 14. The company discovered …

Cryptocurrency Exchange

Stuck In Traffic? You're Not Alone. New Data Show American Commute Times Are Longer

If you feel like your commute is taking longer, that's because it is.<p>New survey data show the average American's commute inched up to 26.9 minutes from 26.6 minutes the previous year, according to the U.S. Census Bureau's 2017 American Community Survey.<p>That 18-second increase may seem small, but it …

Commuting

Will American Airlines bar customers from changing a ticket?

FORT WORTH, Texas (AP) — American Airlines is threatening to prohibit customers from making changes to nonrefundable tickets if Congress makes good on a proposal to crack down on what critics call unreasonable airline fees.<p>American CEO Doug Parker says that his airline would be acting just like …

American Airlines

$100 Million in Cash Vanishes in Liberia, and Fingers Start Pointing

BAMAKO, Mali — Containers full of newly minted currency worth more than $100 million have gone missing in Liberia, setting off finger pointing and travel bans as officials puzzle over the mystery in one of the poorest countries in the world.<p>The cash is said to have been shipped from Sweden late …

Central Banks

Trump Transparency Move Seeks Middle Ground in Oil-Farmer Clash

President Donald Trump’s Environmental Protection Agency is taking a step to boost transparency for the country’s ethanol mandate, a move that could …

EPA

Adobe Systems Is Nearing $5 Billion Deal for Marketo

Adobe Systems Inc. is in talks to buy software maker Marketo Inc. for about $5 billion, according to a person familiar with the matter.<p>A transaction …

San Francisco

Iran Warns It Will Veto OPEC Decisions That Harm Its Interests

Iran said it will veto any OPEC decision that harms the Islamic Republic and warned that some oil producers are trying to create an alternative …

Saudi Arabia

Jack Ma scraps his pledge to create a million U.S. jobs. But was it ever serious?

Chinese technology titan Jack Ma emerged from a meeting at Trump Tower last year with a bold promise: His e-commerce giant Alibaba would help then-President-elect Trump create a million American jobs.<p>Now Ma has retracted the pledge, saying the escalating U.S.-China trade war has wrecked it.<p>"The …

Exports

ESPN's new streaming service passes 1 million paid subscribers in five months

ESPN+, the streaming video service from the sports network, has reached more than 1 million paid subscribers, the company said Thursday.<p>It's an …

Streaming