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Nestle plans $20.8 billion share buyback amid Third Point pressure

June 27, 2017 by  
Filed under News

ZURICH (Reuters) – Nestle announced plans to buy back as much as 20 billion Swiss francs ($20.79 billion) worth of shares over three years, days after U.S. activist shareholder Third Point LLC began a campaign to boost performance at the company.


Source: Reuters Business News

Charter, Comcast explore wireless partnership with Sprint: sources

June 27, 2017 by  
Filed under News

(Reuters) – U.S. wireless carrier Sprint Corp is in talks with Charter Communications Inc and Comcast Corp about a partnership to boost the two U.S. cable companies’ wireless offerings, according to sources familiar with the matter.


Source: Reuters Business News

Exclusive: Aston Martin electric car goes limited edition after LeEco exit

June 26, 2017 by  
Filed under News

PARIS/DETROIT (Reuters) – British sports car maker Aston Martin has scaled back production plans for its first electric model after cash-strapped investment partner LeEco pulled out of the project, Chief Executive Andy Palmer told Reuters on Monday.


Source: Reuters Business News

Amtrak names former Delta executive as next CEO

June 26, 2017 by  
Filed under News

WASHINGTON (Reuters) – Amtrak on Monday named a former Delta Air Lines chief executive as its next president and CEO as the U.S. passenger rail carrier makes major repairs at its busiest U.S. hub.


Source: Reuters Business News

'Pharma bro' Martin Shkreli heads into fraud trial

June 26, 2017 by  
Filed under News

NEW YORK (Reuters) – Martin Shkreli, the pharmaceutical entrepreneur vilified as the “pharma bro” for raising the price of a life-saving drug by 5,000 percent, will go on trial on Monday for what U.S. prosecutors called a Ponzi-like scheme at his former hedge fund and a drug company he once ran.


Source: Reuters Business News

Oil edges higher; growing U.S. supply limits gains

June 26, 2017 by  
Filed under News

NEW YORK (Reuters) – Oil prices crept higher on Monday in quiet trade that featured bargain hunting after prices slid last week and hit seven-month lows, but gains were limited by rising crude supply in the United States and other countries.


Source: Reuters Business News

Japanese airbag maker Takata files for bankruptcy, gets Chinese backing

June 26, 2017 by  
Filed under News

Japan’s Takata Corp , at the center of the auto industry’s biggest-ever product recall, filed for bankruptcy protection in the United States and Japan, and said it had agreed to be largely acquired for $1.6 billion by the Chinese-owned U.S.-based Key Safety Systems.


Source: Reuters Business News

RBS to cut 443 jobs in UK, move many of them to India

June 25, 2017 by  
Filed under News

(Reuters) – British lender Royal Bank of Scotland is planning to cut 443 jobs dealing with business loans and many of them will move to India, the bank said.


Source: Reuters Business News

Italy winds up Veneto banks, deal could cost up to 17 billion euros

June 25, 2017 by  
Filed under News

MILAN/ROME (Reuters) – Italy began winding up two stricken Veneto-based banks on Sunday in a deal that will see their good assets transferred to Intesa Sanpaolo and could cost the state up to 17 billion euros ($19 billion).


Source: Reuters Business News

Push on with the 'great unwinding', BIS tells central banks

June 25, 2017 by  
Filed under News

LONDON (Reuters) – Major central banks should press ahead with interest rate increases, the Bank for International Settlements said on Sunday, while recognizing that some turbulence in financial markets will have to be negotiated along the way.


Source: Reuters Business News

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