Business

Bayer taps Nestle executive to stem eroding consumer care sales

FRANKFURT (Reuters) - German drugmaker Bayer has hired the head of Nestle's baby food business to reverse a decline in revenue at its embattled consumer health division from next March.

Business

Nestle reorganizes infant nutrition business

LONDON (Reuters) - Nestle , the world's largest packaged food company, said on Wednesday it would reorganize its infant nutrition business to try to improve its performance.

Business

U.S. investor nears record 400-jet Airbus order: sources

DUBAI (Reuters) - Airline pioneer Bill Franke looked set to place a historic $40 billion order for around 400 Airbus A320 jets, shaking up the low-cost industry and turning the annual race between Airbus and Boeing for plane orders on its head.

Business

Kobe Steel's Hatano plant to lose all JIS certifications: Nikkei

TOKYO (Reuters) - A unit of Kobe Steel is set to lose all of its Japan Industrial Standards (JIS) certifications at its Hatano plant, including one already revoked last month, the Nikkei reported on Wednesday.

Business

Qualcomm invests in Chinese AI facial recognition startup SenseTime

BEIJING (Reuters) - Chinese artificial intelligence (AI) startup SenseTime Group said on Wednesday it has sealed an investment from chipmaker Qualcomm Inc as part of a funding round that will close later this year.

Business

Airbus nears deal to sell around 400 jets to Indigo Partners: sources

DUBAI (Reuters) - Airbus SE is close to agreeing a blockbuster order worth more than $40 billion at list prices to sell around 400 aircraft to U.S.-based investment fund Indigo Partners, founded by low-cost airline pioneer Bill Franke, two sources said.

Business

Oil prices slide after IEA casts doubt over demand outlook

SINGAPORE (Reuters) - Oil prices tumbled on Wednesday, continuing Tuesday's slide after the International Energy Agency cast doubts over the past months' narrative of tightening fuel markets.

Business

Wells Fargo repays $5.4 million for repossessing service members' cars

(Reuters) - Wells Fargo & Co has repaid another $5.4 million to about 450 military service members whose vehicles it repossessed illegally, the U.S. Department of Justice said on Tuesday.

Business

USITC says launches probe of allegations of patent infringement by Apple

WASHINGTON (Reuters) - The U.S. International Trade Commission said on Tuesday it had launched an investigation into allegations of patent infringement by Apple Inc on various devices.

Business

EgyptAir signs $1.1 billion deal for 12 Bombardier CSeries jets

DUBAI/MONTREAL (Reuters) - State-owned EgyptAir signed an initial order for 12 Bombardier Inc CSeries jets on Tuesday, marking the Canadian planemaker's second deal for the aircraft this month after a 1-1/2-year-long sales drought.

Business

Sessions refuses to say if White House asked about AT&T-Time Warner merger

WASHINGTON (Reuters) - U.S. Attorney General Jeff Sessions on Tuesday declined to answer when asked if any White House officials contacted the Justice Department to discuss the government's review of AT&T Inc's proposed $85.4 billion acquisition of Time

Business

Volkswagen agrees to pay $69 million to settle New Jersey emissions suits

WASHINGTON (Reuters) - Volkswagen AG confirmed on Tuesday it has agreed to pay $69 million to settle New Jersey state diesel emissions claims, one of the last major outstanding diesel legal issues the German automaker faces in the United States.

Business

Goldman can hit $13 billion in new consumer loans in three years: CFO

(Reuters) - Goldman Sachs Group Inc can hit $13 billion in new consumer loans in the next three years through its Marcus online lending business, Chief Financial Officer Marty Chavez said on Tuesday.

Business

Wall Street pulled lower by energy stocks, tax plan doubts

(Reuters) - U.S. stocks slipped on Tuesday as a drop in oil prices hit energy stocks, with uncertainty over Republican tax plans also weighing on the sentiment.

Business

Home Depot profit beats as hurricanes spur demand

(Reuters) - Home Depot Inc , the largest U.S. home improvement chain, beat analysts' quarterly profit and sales estimates, as hurricanes Harvey and Irma boosted demand for emergency products and rebuilding materials.

Business

Kuwait airline in draft deal for 25 Airbus A320neo jets

DUBAI (Reuters) - Airbus said on Tuesday it had signed a preliminary agreement to sell 25 A320neo aircraft to Golden Falcon Aviation, the exclusive aircraft supplier to Wataniya Airways of Kuwait.

Business

Fed chief says policy guidance beneficial but must be conditional

FRANKFURT (Reuters) - The U.S. Federal Reserve's guidance about its likely future policy path is beneficial but should always be viewed as conditional on how the economy actually develops, Fed Chair Janet Yellen said on Tuesday.

Business

UAE announces $684 million Raytheon laser guided bomb kit order

DUBAI (Reuters) - The United Arab Emirates' military said on Tuesday it was buying laser-guided missiles from US-based Raytheon Co in a deal worth 2.5 billion dirhams ($684.4 million).

Business

China's foreign ownership cap change may stir interest in smaller banks: Fitch

BEIJING (Reuters) - Beijing's landmark move to ease or remove limits on foreign ownership in China's financial sector will likely stoke acquisition interest in smaller banks, Fitch Ratings said.

Business

Ethiopian could buy 10-20 of Boeing's proposed mid-sized jet

DUBAI (Reuters) - Ethiopian Airlines would be interested in buying around 10 to 20 of the mid-sized jets that Boeing is studying whether to develop, the African airline's chief executive said on Tuesday.

Business

Emirates believes Airbus can guarantee development of A380 program

DUBAI (Reuters) - Emirates [EMIRA.UL] believes Airbus can meet demands from the airline's owner, the Dubai government, for the European planemaker to guarantee development of the superjumbo A380 program.

Business

Silicon Valley blasts Senate proposal to tax startup options

SAN FRANCISCO (Reuters) - A proposal by the U.S. Senate to change the way shares in startup companies are taxed incited panic and dread in Silicon Valley on Monday, with startup founders and investors warning of nothing less than the demise of their indus

Business

Asia stocks shaky before China data, ponder yield curve

SYDNEY (Reuters) - Asian stocks wobbled on Tuesday as investors awaited developments in U.S. tax reform efforts, while contemplating if a marked flattening in the U.S. yield curve might ultimately be a harbinger of an economic slowdown there.

Business

Goldman Sachs marks stake in Weinstein Co down to zero: source

(Reuters) - Goldman Sachs Group Inc has written down to zero the value of its stake in the Weinstein Company, the movie studio whose co-chairman Harvey Weinstein stepped down last month following sexual assault allegations, a person familiar with the matt

Business

Wal-Mart partners with Lord & Taylor to expand online fashion presence

CHICAGO (Reuters) - Wal-Mart Stores Inc said on Monday it will offer Hudson's Bay Co- owned department store chain Lord & Taylor dedicated space on its website, as it looks to make deeper inroads into the fast-growing online fashion business.

Business

Roark Capital offers to buy Buffalo Wild Wings: Wall Street Journal

(Reuters) - Restaurant chain Buffalo Wild Wings Inc has received a takeover bid valued at more than $2.3 billion from private-equity firm Roark Capital Group, the Wall Street Journal reported on Monday, citing people familiar with the matter.

Business

Qualcomm rejects Broadcom's $103-billion takeover bid

(Reuters) - Mobile chipmaker Qualcomm Inc on Monday rejected rival Broadcom Ltd's $103-billion takeover bid, saying the offer undervalued the company and would face regulatory hurdles.

Business

Roku hits record high on licensing deal for Phillips-branded TVs

(Reuters) - Roku Inc's shares surged nearly 43 percent to a record high on Monday after the streaming device maker said it signed a licensing deal that would put its technology on Philips-branded televisions in the United States this year.

Business

Bombardier in talks with EgyptAir for $1.1 billion CSeries deal: Bloomberg

(Reuters) - Canadian plane-and-train-maker Bombardier Inc  is in advanced talks with EgyptAir over a potential $1.1 billion order for CSeries jets, Bloomberg reported, citing people familiar with the matter.

Business

Wall Street ticks up as dividend payers rise, GE slashes payout

NEW YORK (Reuters) - U.S. stock indexes rose on Monday as a sharp drop in General Electric shares was more than offset by gains in high dividend-paying sectors including consumer staples and utilities.

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