Business

Gains in Wal-Mart, Cisco lift Wall Street

(Reuters) - The S&P 500 index recovered from its worst two-day fall since August on Thursday after Wal-Mart and Cisco shares soared on strong results.

Business

Viacom beats revenue estimates despite distribution headwinds

(Reuters) - Viacom Inc , owner of MTV, Comedy Central and Paramount, reported mixed quarterly results Thursday as higher-than-expected revenue in its film unit and improved domestic ad sales offset lower revenue from U.S. cable TV operators and online dis

Business

Rights groups pressure IBM to renounce interest in Trump's 'extreme vetting'

WASHINGTON (Reuters) - A coalition of rights groups launched an online petition on Thursday urging IBM Corp to renounce a Trump administration proposal to use technology to identify people for visa denial and deportation from the United States.

Business

Best Buy falls short with holiday profit forecast

(Reuters) - Best Buy Co Inc reported disappointing third-quarter results on Thursday and forecast holiday-quarter profit below Wall Street estimates as it cut prices to match those offered by rivals including Amazon.com Inc .

Business

Wal-Mart reports better-than-expected third-quarter sales, shares jump

CHICAGO (Reuters) - Wal-Mart Stores Inc , the world's largest retailer, reported better-than-expected quarterly sales at established U.S. stores on Thursday, boosted by hurricane-related purchases and soaring online sales, sending its shares up 3.5 percen

Business

Uber's London license appeal could take years: Mayor Khan

LONDON (Reuters) - Uber's [UBER.UL] appeal process against a decision by London's transport regulator to strip the taxi app of its operating license in the British capital could take years, the Mayor of London Sadiq Khan said on Thursday.

Business

T-Mobile US to propose significant share buyback: CFO

BARCELONA (Reuters) - U.S. No.3 carrier T-Mobile US will propose a "significant" share buyback that could start in December, finance chief Braxton Carter said on Thursday, a sign of confidence after the collapse of its merger with Sprint Corp.

Business

Few banks seen queuing for China's red carpet invite

HONG KONG (Reuters) - China stunned the finance world last week when it unveiled plans to allow foreign control of its financial institutions. Few bankers thought their long-held dream of better access to the world's largest banking market was within reac

Business

Meredith, Time Inc restart deal talks with Koch brothers' support: NYT

(Reuters) - Time Inc is in talks with Meredith Corp again to sell itself in a potential deal backed by billionaire brothers Charles Koch and David Koch, the New York Times reported.

Business

Volkswagen Group earmarking $11.8 billion to develop, build China electric cars

GUANGZHOU/BEIJING (Reuters) - Volkswagen Group plans to spend 10 billion euros ($11.8 billion) by 2025 to develop and manufacture so-called new-energy vehicles (NEVs), the group's China chief Jochem Heizmann told Reuters on Thursday.

Business

Mark Cuban says tax rates have almost no impact on investment

NEW YORK (Reuters) - Billionaire entrepreneur and potential presidential candidate Mark Cuban said on Wednesday that a cut in the U.S. corporate tax rate would have little to no effect on his investment decisions.

Business

Asia shares cautious as mood turns skittish

SYDNEY (Reuters) - Asian shares got off to a cautious start on Thursday after Wall Street stumbled despite upbeat U.S. economic news and the Treasury yield curve hit its flattest in a decade as investors priced in more U.S. rate hikes.

Business

Exclusive: Mattel snubs Hasbro's latest acquisition approach - sources

(Reuters) - Mattel Inc has rebuffed Hasbro Inc's latest takeover approach, people familiar with the matter said on Wednesday, casting uncertainty over the potential combination of the world's two largest toy companies.

Business

Bombardier plans hiring spree for business jet program: sources

MONTREAL (Reuters) - Bombardier Inc expects to hire around 1,000 workers in Montreal over 18 months, as the Canadian plane and train maker ramps up production of its new Global 7000 business jet, three sources familiar with the matter said on Wednesday.

Business

Lockheed's CH-53K helicopter to make global debut at Berlin air show: sources

BERLIN (Reuters) - The U.S. military has approved Lockheed Martin Corp's new CH-53K heavy-lift helicopter to fly at the Berlin air show next April, according to two sources familiar with the program.

Business

U.S. delivery companies dig deep to hire holiday season help

SEATTLE (Reuters) - The tightest U.S. labor market this century is putting pressure on margins for freight haulers and warehouse operators as they bid for hundreds of thousands of workers to move packages during the peak holiday period.

Business

Wall Street falls as oil slide, tax bill concerns weigh

(Reuters) - U.S. stocks fell on Wednesday, with the Dow Jones index shedding more than 100 points as a slide in oil prices and concerns about the fate of U.S. tax cuts weighed on the mood.

Business

Amazon unveils more Whole Foods price cuts ahead of Thanksgiving

(Reuters) - Amazon.com Inc on Wednesday unveiled more discounts on several grocery products at Whole Foods Market, days ahead of the Thanksgiving holiday, sending stocks of rival U.S. grocers lower in early trading.

Business

Tesla says it will fight lawsuit claiming racial discrimination

(Reuters) - Tesla Inc said on Wednesday it would fight a class-action lawsuit filed against it earlier this week claiming the electric automaker's California production plant was a "hotbed for racist behavior."

Business

U.S. investor Cerberus takes 3 percent stake in Deutsche Bank

FRANKFURT (Reuters) - Cerberus [CBS.UL] has taken a 3 percent stake in Deutsche Bank , Germany's flagship lender said on Wednesday, making the U.S. buyout fund the fourth-largest shareholder after China's HNA group, Qatar and money manager Blackrock .

Business

Boeing in 175 plane deal with budget carrier flydubai

DUBAI (Reuters) - Boeing Co. reached a preliminary deal for 175 of its 737 MAX jets with flydubai on Wednesday, potentially committing the budget airline's fleet to the U.S. planemaker for another decade.

Business

Israel prepares to send tax bills to Facebook, Google: report

JERUSALEM (Reuters) - Israel is planning to send tax bills within a year to internet companies Google and Facebook, financial newspaper TheMarker reported on Wednesday, joining efforts by several countries, including the European Union, to get the interne

Business

Qualcomm-NXP ruling may be in 2018: EU competition commissioner

BEIJING (Reuters) - A ruling on Qualcomm Inc's proposed $38 billion acquisition of NXP Semiconductors NV may come in 2018, European Commissioner for Competition Margrethe Vestager said on Wednesday.

Business

Volkswagen says works council payments legal, after raids

FRANKFURT (Reuters) - Volkswagen said it had obeyed the law in the payment of its works council chief, Bernd Osterloh, whose office was raided on Tuesday along with those of its chairman, finance chief and head of personnel.

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