Business

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World stocks lower after Fed report renews bond yield fears

HONG KONG (AP) — World stock markets generally declined Thursday, tracking Wall Street's fall after the latest Fed report rekindled fears about inflation and rising bond yields.<p>KEEPING SCORE: European markets fell in early trading. Britain's FTSE 100 slid 1 percent to 7,205.21 and Germany's DAX …

Stock Markets

Ford North America President Raj Nair Fired For 'Inappropriate Behavior'

Ford Motor said the head of its core North American business, Raj Nair, has left the car company following allegations of inappropriate behavior.<p>A Ford source said the company had recently received information through an anonymous employee tip line and conducted an investigation that found Nair’s …

Leadership

Barclays CEO Gets Half His Bonus as Whistle-Blower Affair Hovers

Barclays Plc Chief Executive Officer Jes Staley received less than half his potential bonus as the whistle-blowing scandal casts a shadow on his …

Jes Staley

GE no longer wants a hasty divorce from Baker Hughes

General Electric isn't planning a hasty divorce from oil services giant Baker Hughes after all.<p>GE was considering a sale of its majority stake in Baker Hughes (BHGE) because it is running low on money.<p>But the company reversed course on Wednesday and said that Baker Hughes won't be part of its …

CNN

German court to decide on fate of 15 million diesel cars

LEIPZIG, Germany (Reuters) - A German court will rule on Thursday whether major cities can ban heavily polluting diesel cars, potentially hitting the resale value of 15 million vehicles in Europe's largest car market and forcing carmakers to pay for costly modifications.<p>Diesel-engine cars have been …

Judiciary

Loblaw quarterly profit falls on charges

Canadian grocery and pharmacy chain Loblaw Cos Ltd on Wednesday said its quarterly profit fell as the company recorded $230-million in charges.<p>Net profit attributable to common shareholders fell to $19-million, or 5 cents per share, in the fourth quarter ended Dec 31, from $201-million, or 50 cents …

Southern Ontario

British Gas owner to cut 4,000 jobs blaming price cap and competition

Profits fall nearly a fifth at Centrica as it expands cost-cutting drive to save £500m a year<p>Centrica, the owner of British Gas, will shed a further 4,000 jobs as part of a £1.2bn-a-year cost-cutting programme, which it blamed on the government’s energy price cap and fierce competition in the …

Clean Technology

Blackstone managing director: This bull market is not over

Joe Zidle, Blackstone managing director, speaks with CNBC’s “Squawk Box” about his market outlook.

Markets

US stocks set for a weak open as investors fret over future rate hikes

U.S. stock index futures fell into the red ahead of Thursday's open, as talk about higher interest rates reawakened fears in U.S. markets.

Stock Markets

Why Vodafone is a better value proposition under higher interest rates

Christopher Nicholson, managing director and head of research at Oraca, discusses the telecoms sector.

Marketing

Southwest ups fee for last-minute priority boarding

PHOENIX -- Southwest Airlines has quietly increased the fee to nab a prime boarding position at the last minute on some flights.<p>The airline, which famously does not assign seats, will now charge up to $50 one way to board in the first group of travelers.<p>Upgraded boarding was introduced in 2013. …

Aviation

More KFC outlets reopen as chicken chaos eases

<b>Almost 700 of KFC's 900 UK outlets have reopened following a chicken supply fiasco that began about a week ago and forced many stores to shut their doors.</b><p>However, the fast food chain has not said how many are serving a full menu.<p>KFC said on Wednesday that some would remain closed for the rest of …

Fast Food

Angry Air France staff demonstrate during strike over pay

PARIS (AP) — Hundreds of angry Air France staff are demonstrating at the French airlines' headquarters in northern Paris amid a strike over pay that has grounded flights.<p>Air France said that half of its long-haul flights departing from Paris will not operate Thursday and encouraged customers with a …

Aviation

Latvian bank ABLV seeks 480 million euro loan to reopen its doors

RIGA (Reuters) - One of Latvia's largest banks has asked for a 480 million euro loan from the country's central bank as part of efforts to reopen for business after being forced to halt all payments in the face of money laundering accusations.<p>The request for credit from the Baltic state's central …

Russia

Teleflex beats by $0.04, misses on revenue

Teleflex (NYSE:TFX): Q4 EPS of $2.44 beats by $0.04.<p>Revenue of $595.11M (+15.8% Y/Y) misses by $6.05M.<p>Press Release<p>Now read: <b>Mallinckrodt: Impact Of</b> …

Globalization

CIBC kicks off bank results with dividend hike, profit dip

Canadian Imperial Bank of Commerce kicked off first-quarter reporting season among the major banks with a dividend increase and a dip in profit.<p>CIBC profit slipped to $1.32-billion, or $2.95 a share, diluted, from $1.4-billion or $3.50 a year earlier.<p>On an adjusted basis, profit rose to …

Business (Canada)

Why Retail Stocks Sank in Trump's First Year in Office

Challenges from the e-commerce channel pressured retail stocks over much of the last year, though recent news has been more promising for the …

J.C. Penney

German business confidence drops amid global, local concerns

BERLIN (AP) — German business confidence dropped sharply in February amid increasing concerns about both domestic and international risks.<p>The Munich-based Ifo Institute said Thursday its business climate indicator fell to 115.4 points in February from 117.6 in January, while noting it remained near …

Angela Merkel

Indian investigators seize billionaire jeweler's luxury cars in $1.8 billion fraud probe

MUMBAI (Reuters) - An Indian financial crime-fighting agency said on Thursday it has seized a Rolls Royce Ghost, a Porsche Panamera and some half a dozen more luxury vehicles belonging to billionaire jeweler Nirav Modi and his firms, in a probe into an alleged $1.8 billion fraud against state-run …

Corruption

Premarket: As Fed points upwards for rates, world stocks lurch downward

World stocks tumbled to one-week lows on Thursday after the U.S. Fed confirmed it was on track to raise interest rates several times this year, sending bond yields to new multiyear highs.<p>While U.S. 10-year yields retreated after nearing the psychologically key 3 per cent level, the minutes of the …

Stock Markets

Google Fired Transgender Disabled Man After He Challenged Workplace White Supremacists, Lawsuit Claims

A former Google engineer is suing the online and tech multinational claiming he was fired for challenging workplace bigotry that ranged from white …

A Bulgarian scheme scammed Spotify for $1 million—without breaking a single law

They did it, essentially, in their sleep.<p>A scamming operation in Bulgaria swindled as much as $1 million in royalties out of Spotify last year, according to high-level music-industry sources in a bombshell Music Business Worldwide report this week. The Bulgarian entity—which hasn’t been identified, …

Music Industry

McDonald’s to ship 20M Szechuan sauce packets this month

Get yours while supplies last<p>McDonald’s is bringing back Szechuan sauce (again) and this time, the company appears to have learned from last year’s ugly sauce debacle.<p>The fast food giant said today it’s sending more than 20 million packets of Szechuan sauce to McDonald’s restaurants, instead of …

McDonald's

UK growth in 2017 downgraded as consumer spending slows

LONDON (AP) — Official figures show that the British economy did not grow as strongly as initially anticipated in the final quarter of 2017 amid a slowdown in consumption and business investment.<p>The Office for National Statistics said Thursday that the British economy expanded by a quarterly rate …

Winston Churchill

Angry Birds Maker Hit by Worst Selloff Since Its September IPO

Rovio Entertainment Oyj, the Finnish maker of the mobile game Angry Birds, slumped almost 40 percent in Helsinki trading after analysts and investors …

Angry Birds

British Gas owner Centrica to cut 4,000 jobs after 'weak' year

<b>Centrica, which owns British Gas, is cutting 4,000 jobs as it continues to lose customers.</b><p>The energy supplier, which has operations in North America and Ireland as well as its main UK market, said group profits fell 17% to £1.25bn.<p>Chief executive Iain Conn said the firm had a "weak" second half of …

North America

Anglo American Boosts Dividend as Mining Turns Into a Cash Cow

Anglo American Plc raised its dividend and cut debt even further as the company that was pushed to the brink by falling metals prices roars back to …

Investing

ParkBee closes €5M funding to open up private car parks to public bookings

ParkBee, a Netherlands-founded startup that lets private car parks monetize underutilized spaces by making them bookable to the public, has picked up €5 million in new funding<p>The round is led by German-based Statkraft Ventures, with participation from existing investors. Statkraft Ventures is …

Urban Design

Distrust of unions, and GM, hangs over South Korean efforts to stem job losses

SEOUL (Reuters) - South Korean President Moon Jae-in is in a bind.<p>Either he risks losing political capital and thousands of high-paying jobs if General Motors cuts its presence in South Korea, or he faces a public backlash if he uses taxpayer money as a lifeline for the U.S. automaker.<p>Last week, GM …

Moon Jae-in

Adani mining giant facing renewed claims of $600m fraud in India

Customs department revives allegations that cash was siphoned from firm to family<p>India’s customs department has revived allegations of a US$600m financial fraud against the Adani Group, challenging an order clearing the mining giant last year as “erroneous, illegal and improper”.<p>Adani has been …

Corruption

Honda Pits Pro Driver Against Pro Gamer

To promote its 2018 Civic Type R, Honda partnered with Forza Motorsport and invited a race car driver and a pro gamer to compete in a mixed-reality …

Honda Civic

Bank of England Stance Emboldens Bets for Rate Increase in May

Investors betting the Bank of England will raise interest rates again as soon as May just got a boost.<p>BOE Chief Economist Andy Haldane’s comment …

Bank of England

Fed's Quarles Says U.S. Economy in ‘Best Shape’ Since Crisis

Federal Reserve Governor Randal Quarles delivered an upbeat assessment of the U.S. economy and endorsed a “gradual” path for raising interest rates …

Economy

Book Trump? Interest groups press case at his properties

WASHINGTON (AP) — Payday lenders got regulators to rethink rules on how closely to vet borrowers. E-cigarette makers got a delay in federal oversight of many vaping products. Candy makers praised a decision to hold off on more stringent labeling standards. And title insurers declared "victory" for …

Donald Trump

Walmart to launch new online home shopping experience

NEW YORK (AP) — Bohemian or traditional?<p>Walmart is launching a new online home shopping experience in the coming weeks that will let shoppers discover items based on their style.<p>The move, announced Thursday, is the first glimpse of the company's broader campaign to redesign its site with a focus on …

eCommerce

Tennessee Tech withdraws industry-funded study used to back controversial EPA truck rule

The president of Tennessee Tech University has disavowed a study used to help justify the repeal of tighter federal emissions standards for a type of freight trucks, saying that experts now question “the methodology and accuracy” of the industry-funded test.<p>Fitzgerald Glider Kits — which makes new …

Scott Pruitt

Adani May Sell Stake in Carmichael Coal Mine Amid Funding Delay

The battle to build one of the world’s biggest coal mines has suffered a fresh setback after Adani Enterprises Ltd. conceded it would fail to meet a …

Environmentalism

U.S. Treasury official slams China's 'non-market behavior'

WASHINGTON (Reuters) - The U.S. Treasury's top diplomat ramped up his criticisms of China's economic policies on Wednesday, accusing Beijing of "patently non-market behavior" and saying that the United States needed stronger responses to counter it.<p>David Malpass, Treasury undersecretary for …

China

Uber CEO Touts ‘Great’ Talks With Toyota CEO on Autonomous Cars

The world’s largest car maker and the world’s biggest ride-hailing company plan to team up on autonomous driving as technological changes sweep …

Autonomous Vehicle

S. Korea's Household Debt Hits Record $1.3 Trillion in 2017

South Korea’s household debt rose to a new record in 2017, even as the government tightened lending terms to cool the property market.<p>Household debt …

Economics