Category: Business

TOKYO (Reuters) – Oil prices rose on Monday after U.S. Secretary of State Mike Pompeo said Washington will take all actions necessary to guarantee safe navigation in the Middle East, as tensions mounted following attacks on tankers last week. Brent futures rose 27 cents, 0.4% to $62.28 a barrel by 0040 GMT. They rose 1.1%…

(Reuters) – Huawei Technologies Co Ltd is preparing for a 40% to 60% decline in international smartphone shipments, Bloomberg reported on Sunday. The Chinese technology company is looking at options that include pulling the latest model of its marquee overseas smartphone, the Honor 20, according to the article, which cited people familiar with the matter.…

LONDON (Reuters) – Companies listed in Britain will be able to sell shares in China on Monday with the launch of a long-awaited London-Shanghai Stock Connect project that finance minister Philip Hammond called a chance to deepen “global connectivity”. Under the Connect scheme, Shanghai-listed companies can raise new funds via London’s stock market while British…

SAN FRANCISCO/WASHINGTON (Reuters) – Huawei’s American chip suppliers, including Qualcomm and Intel, are quietly pressing the U.S. government to ease its ban on sales to the Chinese tech giant, even as Huawei itself avoids typical government lobbying, people familiar with the situation said. Executives from top U.S. chipmakers Intel and Xilinx Inc attended a meeting…

(Reuters) – Wall Street bank Goldman Sachs Group Inc is combining its private-investing arms, with the resulting new division to have about $140 billion in assets, the Wall Street Journal reported on Sunday, citing people familiar with the matter. The bank is looking to combine four different units that invest in private companies, real estate…

PARIS (Reuters) – The head of Boeing said on Sunday the U.S. planemaker had made a mistake in implementing a faulty cockpit warning system on the 737 MAX and predicted it would take time to rebuild the confidence of customers in the wake of two fatal crashes. Chairman and Chief Executive Dennis Muilenburg said Boeing…

PARIS (Reuters) – Safety concerns, trade wars and growing security tensions in the Gulf are dampening spirits at the world’s largest planemakers as they arrive at this week’s Paris Airshow with little to celebrate despite bulging order books. The aerospace industry’s marquee event is a chance to take the pulse of the $150-billion-a-year commercial aircraft…

(Reuters) – Deutsche Bank is planning to overhaul its trading operations by creating a “bad bank” to hold tens of billions of euros of assets and shrinking or shutting its U.S. equity and trading businesses, the Financial Times reported on Sunday. The bad bank would house or sell assets valued at up to 50 billion…

(Reuters) – Goldman Sachs economists said on Sunday they are skeptical of “insurance” U.S. interest rate decreases from the Federal Reserve to forestall possible slowing in U.S. economic growth due to global trade tensions. A surprise escalation in trade tensions between Washington and Beijing since May, together with stubbornly low inflation, have spurred bets among…

PARIS (Reuters) – The Canadian government’s contracting arm is backing a proposed new satellite system that will use big data analytics to provide commercially available data about the Earth and its orbit amid growing concerns about the risks posed by space debris. Support from the Canadian Commercial Corporation (CCC) will allow Canadian startup NorthStar Earth…