Business News

British Airways suspends flights to Cairo for seven days

July 20, 2019 CAIRO (Reuters) – British Airways and Lufthansa abruptly suspended flights to Cairo from Saturday over security concerns, but giving no details about what may have prompted the move. “We constantly review our ...
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Greek PM says 2020 budget will respect fiscal targets

July 20, 2019 By Angeliki Koutantou and Michele Kambas ATHENS (Reuters) – Greece will submit a 2020 budget later this year that will fully respect the fiscal targets agreed with its lenders, newly elected Prime ...
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Rating agencies knew of stress at India’s IL&FS, but gave good ratings: audit

July 20, 2019 By Abhirup Roy and Aditya Kalra MUMBAI/NEW DELHI (Reuters) – Credit rating agencies for years assigned high ratings to India’s Infrastructure Leasing & Financial Services (IL&FS) and its group companies despite its ...
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Indian govt seeks to tap foreign lenders for loans to its small firms: sources

July 20, 2019 By Aftab Ahmed and Devjyot Ghoshal NEW DELHI (Reuters) – India’s government is in talks with foreign lenders to provide as much as $14.5 billion in credit to millions of its small ...
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CBS stations go dark for DirecTV customers amid contract dispute with AT&T

July 20, 2019 (Reuters) – CBS Corp <CBS.N> and AT&T Inc <T.N> failed to renew their contact, resulting in millions of DirecTV subscribers losing access to CBS programming. CBS television stations in over a dozen ...
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Will ECB walk or just talk as rate circus comes to Europe?

July 20, 2019 By Philip Blenkinsop BRUSSELS (Reuters) – The global march towards lower interest rates reaches Europe this week with the European Central Bank expected at least to signal easier monetary policy, while Turkey’s ...
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Wall Street Week Ahead: Prospect of Fed cut pushing dividend investors into tech, energy

July 20, 2019 By David Randall NEW YORK (Reuters) – An expected interest rate cut by the Federal Reserve later this month is pushing yield-oriented U.S. fund managers further afield in search of income at ...
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A rally and a redirect: why the markets are so focused on the Fed

July 19, 2019 By David Randall, Trevor Hunnicutt and Lewis Krauskopf NEW YORK (Reuters) – When New York Fed President John Williams talked about the need to “vaccinate the economy” on Thursday, markets listened. And ...
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BOJ’s Kuroda says he disagrees with modern monetary theory

July 19, 2019 NEW YORK (Reuters) – Bank of Japan Governor Haruhiko Kuroda on Friday denounced an economic philosophy that encourages the use of government spending as a primary policy tool to boost employment. Speaking ...
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Take Five: Preparing for a prime minister, PMIs and policymakers

July 19, 2019 LONDON (Reuters) – 1/ROAD TO NO. 10 Investors will wake on July 24 to a new British prime minister. Boris Johnson, the face of the Leave campaign in the 2016 Brexit referendum, ...
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UK’s fiscal watchdog to warn of recession in 2020 in case of ‘no-deal’ Brexit: The Times

July 17, 2019 (Reuters) – Britain’s fiscal watchdog is expected to say on Thursday that Britain’s economy will fall into a recession next year and that its economy will be 3% smaller in the event ...
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Japanese official says negotiating teams working hard on U.S.-Japan trade deal

July 17, 2019 WASHINGTON (Reuters) – U.S. and Japanese officials are working hard to reach agreement on a bilateral trade agreement, a senior Japanese official told Reuters on Wednesday, adding he was looking forward to ...
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Netflix to roll out cheaper mobile-only plan in India

July 17, 2019 By Munsif Vengattil and Arriana McLymore (Reuters) – Netflix Inc <NFLX.O> said on Wednesday it would roll out a lower-priced mobile-only plan in India, tapping into a price-sensitive market where data consumption ...
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Bank of America trims net interest income guidance

July 17, 2019 By Imani Moise and Noor Zainab Hussain (Reuters) – Bank of America Corp lowered its annual net interest income guidance on Wednesday to reflect a weakened interest rate environment as the second-largest ...
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Brazil government to announce economic stimulus package this week: Bolsonaro

July 17, 2019 (Reuters) – Brazilian President Jair Bolsonaro said on Wednesday that his administration will announce an economic stimulus package this week to revive flagging growth, confirming earlier media reports. Earlier on Wednesday, newspaper ...
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U.S. government report on housing finance reform is ‘essentially done’: regulator

July 17, 2019 By Pete Schroeder WASHINGTON (Reuters) – The Trump administration’s report on overhauling the country’s housing market is “essentially done” and could be released in late August or September, the head of the ...
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Cloud growth fuels IBM profit beat, shares rise

July 17, 2019 (Reuters) – International Business Machines Corp beat analysts’ estimates for second-quarter profit on Wednesday, propped up by recurring growth in its high-margin cloud computing business, sending its shares up as much as ...
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Boeing to make $50 million in payments to 737 MAX crash victims’ families

July 17, 2019 By David Shepardson WASHINGTON (Reuters) – Boeing Co said on Wednesday it will dedicate half of a $100 million fund it created after two crashes of its 737 MAX planes to provide ...
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Netflix shares tumble as it misses global subscriber forecasts

July 17, 2019 By Lisa Richwine and Vibhuti Sharma (Reuters) – Netflix Inc <NFLX.O> added fewer quarterly subscribers than Wall Street expected and its U.S. customer base shrank as its programming failed to draw new ...
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Paint makers reach $305 million settlement in California, ending marathon lead poisoning lawsuit

July 17, 2019 By Joshua Schneyer OAKLAND, Calif. (Reuters) – After a 19-year legal struggle, three former makers of lead paint have agreed to a $305 million settlement with California county and city governments to ...
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California settles decades-long lawsuit over lead paint, but outcome is bittersweet

July 17, 2019 By Joshua Schneyer OAKLAND, Calif. (Reuters) – When Californian counties and cities first sued paint makers in 2000, they wanted the companies to pay billions to remove dangerous old lead paint from ...
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EBay beats estimates as more shoppers flock to site, shares rise

July 17, 2019 (Reuters) – EBay Inc <EBAY.O> beat Wall Street estimates for quarterly revenue and profit on Wednesday, as a multi-year effort to make its platforms easier to use attracted more customers, sending its ...
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Wall St. falls as CSX results signal damage from trade tensions

July 17, 2019 By April Joyner NEW YORK (Reuters) – U.S. stock indexes fell on Wednesday as weak results from CSX Corp stoked concerns that the protracted trade war between the United States and China ...
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Fed: Sunny outlook for U.S. despite shade thrown by trade

July 17, 2019 By Howard Schneider and Jason Lange WASHINGTON (Reuters) – The U.S. economy grew at a “modest” rate in recent weeks, with consumers continuing to spend and a “generally positive” outlook overall even ...
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Qualcomm set to face second EU antitrust fine shortly: sources

July 17, 2019 By Foo Yun Chee BRUSSELS (Reuters) – Qualcomm <QCOM.O>, the world’s no.1 chipmaker, could be hit with a second EU antitrust fine as soon as Thursday for blocking a rival from the ...
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Dollar slips with lower U.S. yields in tight ranges

July 17, 2019 By Richard Leong NEW YORK (Reuters) – The dollar softened against most major currencies on Wednesday in step with lower U.S. bond yields and expectations the Federal Reserve would lower interest rates, ...
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U.S. housing market stuck in a rut even as mortgage rates fall

July 17, 2019 By Lucia Mutikani WASHINGTON (Reuters) – U.S. homebuilding fell for a second straight month in June and permits dropped to a two-year low, suggesting the housing market continued to struggle despite declining ...
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South American bloc eyes fast-track for EU trade deal

July 17, 2019 By Maximilian Heath SANTA FE, Argentina (Reuters) – Leaders from countries in South America’s Mercosur trade bloc met on Wednesday in Argentina, with plans as to how to push forward a recently ...
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Oil service firms eye new survival tactics amid weak U.S. market

July 17, 2019 By Liz Hampton (Reuters) – Packers Plus Energy Services, a company built on the North American shale oil boom, is turning to the Middle East to weather a new round of spending ...
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Amazon under EU antitrust fire over use of merchant data

July 17, 2019 By Foo Yun Chee BRUSSELS (Reuters) – Amazon’s use of merchants’ data triggered an EU antitrust investigation on Wednesday, as regulatory concerns mount around the world on how tech giants exploit customer ...
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U.S. mortgage applications drop in latest week: MBA

July 17, 2019 NEW YORK (Reuters) – U.S. mortgage applications decreased last week, led by a drop in loan requests to buy a home, as some home borrowing costs climbed to their highest level in ...
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IMF sees dangers from trade tensions, overvalued dollar

July 17, 2019 By Andrea Shalal WASHINGTON (Reuters) – The International Monetary Fund said on Wednesday the U.S. dollar was overvalued by 6% to 12%, based on near-term economic fundamentals, while the euro, the Japanese ...
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Microsoft, AT&T sign cloud deal worth more than $2 billion

July 17, 2019 By Stephen Nellis and Angela Moon (Reuters) – Microsoft Corp and AT&T Inc on Wednesday said they reached a deal under which the telecommunications company will tap Microsoft’s Azure cloud service for ...
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Asia stocks rise, dollar sags as Fed chair sets stage for rate cut

July 11, 2019 By Shinichi Saoshiro TOKYO (Reuters) – Asian stocks rose and the dollar sagged on Thursday after Federal Reserve Chair Jerome Powell reinforced prospects of a U.S. interest rate cut later this month ...
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Lockheed Martin says will keep Pennsylvania plant open

July 11, 2019 (Reuters) – Lockheed Martin Corp has decided to keep the Sikorsky helicopter plant in Coatesville, Pennsylvania, open after U.S. President Donald Trump pressed its chief executive to continue operations, the company said ...
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Last Volkswagen Beetle drives into the sunset

July 11, 2019 By Sharay Angulo PUEBLA, Mexico (Reuters) – Volkswagen <VOWG_p.DE> rolled the last Beetle off the assembly line on Wednesday, the end of the road for a car that ran from Nazi Germany ...
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