Category: Business

LONDON (Reuters) – Oil stayed within sight of its 2019 high of almost $67 a barrel on Tuesday, supported by OPEC-led supply cuts although concern about slowing economic growth that would curb demand weighed. The supply curbs led by the Organization of the Petroleum Exporting Countries have helped crude prices to rise more than 20…

SHANGHAI (Reuters) – JD.com Inc, one of China’s largest e-commerce sites, will lay off 10 percent of its senior executives this year, Chinese online media outlet Sina Tech reported on Tuesday, citing unnamed sources. The cuts were announced at the company’s annual party last week, the report said, adding that JD.com, which has nearly 100…

BERLIN (Reuters) – A German court on Tuesday ruled in favor of Germany’s biggest carmaker Volkswagen in a case brought by a customer seeking compensation for having bought a diesel car affected by emissions cheating, a spokeswoman said. The ruling clears the way for an appeal before Germany’s highest court, the BGH, which could set…

LONDON (Reuters) – European and Asian shares hovered near four-month highs on Tuesday as investors took heart from some progress in Sino-U.S. trade talks, while the yen dribbled lower as Japan’s central bank said it could ease policy again. World markets were struggling a bit for direction after a slow but buoyant start to the…

WASHINGTON (Reuters) – A new round of talks between the United States and China to resolve their trade war will take place in Washington on Tuesday, with follow-up sessions at a higher level later in the week, the White House said on Monday. The talks follow a round of negotiations that ended in Beijing last…

BERLIN (Reuters) – Chinese conglomerate Fosun International announced a takeover bid for troubled German clothing retailer Tom Tailor on Tuesday, further expanding its reach into Europe’s fashion sector. Shares in Tom Tailor surged 14 percent to 2.46 euros after the company said Fosun was increasing its shareholding to 35.35 percent by buying new shares worth…

HONG KONG/LONDON (Reuters) – HSBC warned it may have to delay some investments this year as Europe’s biggest bank missed 2018 profit forecasts due to slowing growth in its two home markets of China and Britain. Its shares fell 3 percent and analysts cut their forecasts as HSBC reported a drop in fourth-quarter revenue amid…

TOKYO (Reuters) – Honda Motor (7267.T) announced on Tuesday it would shut its sole British plant by 2021, a decision the Japanese automaker said was not related to Brexit but which Britain deemed deeply disappointing. Honda, which said the decision was based on changes in the global auto market, will also stop making its popular…

BERLIN (Reuters) – The most difficult part in trade negotiations between Europe and the United States is starting now and talks should focus on reducing tariffs on industrial goods to increase the chances of a deal, German Economy Minister Peter Altmaier said on Tuesday. A confidential U.S. Commerce Department report sent to President Donald Trump…

BERLIN (Reuters) – The head of China’s Huawei Technologies in Germany told a German newspaper that the Chinese government does not get involved in the company’s business, adding the firm would work on being open and transparent in the debate about security of mobile networks. Huawei, the world’s biggest producer of telecoms equipment, faces intense…