Business News
Uber lands $1 billion from SoftBank, Toyota for self-driving unit4/19/2019 12:36:34 AM Uber's autonomous vehicle unit has raised $1 billion from a consortium of investors including SoftBank Group Corp , giving the company a much-needed funding boost for its pricey self-driving ambitions on the eve of its public stock offering.National Enquirer to be sold to owner of magazine distributor4/19/2019 12:31:45 AM American Media Inc (AMI) said on Thursday it was selling its National Enquirer tabloid to James Cohen, whose family owns a magazine distributor and used to own the Hudson chain of airport newsstands.Sears sues Lampert, claiming he looted assets and drove it into bankruptcy4/18/2019 10:31:24 PM Sears Holdings Corp sued longtime former Chairman Eddie Lampert, his hedge fund ESL Investments and others like Treasury Secretary Steven Mnuchin, claiming they illegally siphoned billions of dollars of assets from the retailer before it went bankrupt.New North American trade deal modestly boosts U.S. economy, trade panel finds4/18/2019 10:23:14 PM The new North American free trade pact would modestly boost the U.S. economy, especially auto parts production, but may curb vehicle assembly and limit consumer choice in cars, a hotly anticipated analysis from the U.S. International Trade Commission showed on Thursday.Tesla's Elon Musk, SEC get another week to work out deal on Twitter use4/18/2019 10:04:39 PM Tesla Inc Chief Executive Elon Musk and the U.S. Securities and Exchange Commission will get another week to settle a dispute over Musk's use of Twitter, a federal judge ruled Thursday.Air Canada pilots reviewing aircraft systems on Boeing's MAX jets4/18/2019 9:23:37 PM Air Canada said on Thursday its Boeing Co 737 MAX pilots were reviewing aircraft systems and alternative flight conditions for the grounded planes, and the carrier would decide on further training pending final recommendations from regulators.Exclusive: Spain's Repsol suspended swap deal for Venezuelan oil under U.S. pressure4/18/2019 9:17:18 PM Spain's Repsol suspended its swaps of refining products for crude with Venezuela's state-run oil company PDVSA, people familiar with the matter said, as U.S. officials weighed penalties for foreign firms doing business with Venezuela.Wall Street closes slightly higher, industrials lead4/18/2019 9:15:17 PM Industrials led the S&P 500 and the Dow moderately higher on Thursday after robust U.S. economic data and some healthy corporate earnings reports.Potential Fed nominee Cain says not withdrawing from consideration4/18/2019 9:11:06 PM One of President Donald Trump's prospective Federal Reserve nominees, businessman Herman Cain, said on Thursday he was not withdrawing from consideration for the post, although his chances of winning the Senate's needed approval appear dim.Pinterest, Zoom shares surge in market debuts after IPOs4/18/2019 9:05:45 PM Shares of Pinterest Inc surged almost 30 percent in their stock market debut on Thursday, valuing the online scrapbook company at around $16 billion and signaling investor appetite for new tech listings.Risk of U.S. 'profit recession' eases as results beat forecasts4/18/2019 8:53:53 PM The initial earnings results of this reporting period are beating expectations by a wide margin, suggesting to some investors that the S&P 500 may be able to avoid a so-called "profit recession" this year because predicted economic bad news has failed to materialize.Stocks mixed as strong U.S. retail sales offset weak European manufacturing data4/18/2019 8:48:55 PM A gauge of global stocks fell on Thursday after underwhelming manufacturing surveys from Asia and Europe, though it pared losses as Wall Street edged higher on strong U.S. retail sales data and earnings from industrial companies.Exclusive: New York Fed cracks down on Puerto Rico banks following Venezuela sanctions4/18/2019 8:40:57 PM U.S. sanctions on Venezuela have led the New York Federal Reserve to crack down on Puerto Rico's $50 billion offshore banking industry, according to four sources and a document seen by Reuters.Exclusive: Venezuela skirts U.S. sanctions by funneling oil sales via Russia4/18/2019 8:36:59 PM President Nicolas Maduro is funneling cashflow from Venezuelan oil sales through Russian state energy giant Rosneft as he seeks to evade U.S. sanctions designed to oust him from power, according to sources and documents reviewed by Reuters.Union Pacific operational overhaul gains traction, shares rise4/18/2019 8:23:29 PM U.S. railroad operator Union Pacific Corp on Thursday reported a better-than-expected quarterly profit as price increases and cost controls offset the impact of severe winter weather and record flooding that damaged rails in the Midwest.Oil prices inch up on signs of tightening global supply4/18/2019 8:12:32 PM Oil futures edged up on Thursday as a drop in crude exports from OPEC's de facto leader, Saudi Arabia, and a draw in U.S. drilling rigs and oil inventories supported prices.GM CEO Barra's pay dipped slightly to just under $22 million in 20184/18/2019 7:43:51 PM General Motors Co's top executive, Mary Barra, received a compensation package worth just under $22 million in 2018, slightly less than the previous year, according to the No. 1 U.S. automaker's proxy statement released on Thursday.U.S. lawmakers to get long-awaited analysis of new NAFTA deal4/18/2019 7:24:34 PM U.S. lawmakers and economists are awaiting a key analysis of the economic impacts of the new North American trade deal, expected to be published late on Thursday and to show minimal gains at best for the United States.Automakers invest heavily in electric vehicles despite still-low demand4/18/2019 7:23:45 PM Demand for electric vehicles remains low in the U.S. market, but industry executives at the New York auto show this week said they are pushing ahead with billions of dollars in investments even while preaching patience.EssilorLuxottica shareholder body propose independent director to ease deadlock4/18/2019 6:24:32 PM Valoptec International which represents employees and former employees of Ray Ban maker EssilorLuxottica has proposed the appointment of an additional independent director to the group's board in a bid to resolve governance issues.