Saturday, 14 Dec 2019

Business

Steve Burke, the Head of NBCUniversal, Plans to Step Down Next Year

Stephen B. Burke, the chief executive of NBCUniversal, plans to step down next year, capping a decade as the leader of one of the largest media conglomerates in the country, a business that includes the Universal film studios, a set of cable outlets and the broadcast network NBC, which has been the home of the […]

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

(Reuters) – The S&P 500 and the Dow industrials were little changed on Friday after hitting record highs earlier in the session, as the United States and China announced an initial trade agreement, cooling tensions that have rattled markets. The S&P 500 technology sector .SPLRCT and the tech-heavy Nasdaq .IXIC were solidly in positive territory, […]

Exclusive: French want PSA-Fiat board guarantee in $50 billion merger – sources

PARIS/MILAN (Reuters) – French shareholders in the planned merger of PSA and Fiat Chrysler are seeking reassurances that they will retain a numerical advantage on a combined board if CEO Carlos Tavares leaves, two sources close to PSA said. The two companies are finalising talks after announcing a plan for a $50 billion merger of […]

Shares of SoftBank-backed OneConnect rise 5% in U.S. market debut

(Reuters) – Shares of OneConnect Financial Technology jumped 5% in their U.S. market debut on Friday, valuing the Chinese cloud tech firm at $3.79 billion. Shares opened at $10.51 compared with its IPO price of $10. OneConnect, which focuses on small and medium-sized businesses, raised around $312 million on Thursday, selling 31.2 million American depositary […]

U.S. retail sales rise less than expected in November

WASHINGTON, (Reuters) – U.S. retail sales increased less than expected in November as Americans cut back on discretionary spending, which could see economists dialing back economic growth forecasts for the fourth quarter. The Commerce Department said on Friday retail sales rose 0.2% last month. Data for October was revised up to show retail sales increasing […]

Samsung Electronics executive receives jail term over union-busting: media

SEOUL (Reuters) – Samsung Electronics (005930.KS) vice-president Kang Kyung-hoon received a 16-month jail term on Friday on charges of union-busting activities, South Korean media reported on Friday. Kang and others acted to obstruct the formation and activities of an independent trade union at affiliate Samsung Everland, an amusement park operator and part of Samsung C&T […]

European shares near record high on hopes of swift Brexit, trade deal

European shares neared a record high on Friday on hopes of an orderly Brexit after a landslide election victory for British Prime Minister Boris Johnson and signs of a last-ditch trade deal between the United States and China. Markets believe a Conservative Party win would enable Johnson to deliver Brexit within weeks, easing fears of […]

Shares and sterling soar as trade and Brexit fog lifts

LONDON/SYDNEY (Reuters) – Stocks rose and the pound gained on Friday as the prospect of a China-U.S. trade deal and an election victory for Britain’s Brexit-backing Conservative Party cleared two of the darkest clouds on the global investment horizon. The double dose of relief undercut safe-haven sovereign bonds and the Japanese yen and led markets […]

McDonald’s Notches Big Victory in Labor Board Ruling

The federal labor board handed McDonald’s a major victory on Thursday, ordering a judge to approve a proposed settlement between the company and the government that the judge had previously rejected. Had the case, which was initiated during the Obama administration, been litigated further, it could have threatened the franchise business model by putting parent […]

General election: Pound surges as exit poll predicts big Tory majority

The pound has surged after a closely-watched exit poll predicted the Conservatives had secured a majority in the general election. Sterling bounced from $1.3162 to beyond $1.34 – a gain of more than 2% – after the Ipsos Mori survey for Sky News, the BBC and ITV News was published. It followed a day of […]