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U.S. food distributors allege Tyson Foods, rivals fixed chicken prices

January 31, 2018 by  
Filed under News

CHICAGO (Reuters) – Top U.S. food distributors Sysco Corp and U.S. Foods Inc have sued the country’s biggest chicken processors for allegedly conspiring to inflate prices.


Source: Reuters Business News

California insurance dept estimates nearly $12 billion in wildfires claims

January 31, 2018 by  
Filed under News

(Reuters) – Insurers have received nearly 45,000 insurance claims of about $11.79 billion in losses from the wildfires that occurred in California in October and December, the California Department of Insurance said on Wednesday.


Source: Reuters Business News

Farfetch gears up for fashion store of the future

January 31, 2018 by  
Filed under News

LONDON (Reuters) – London-based online fashion retailer Farfetch plans to roll out new technology to revolutionize shopping in stores in the coming months, its chief executive said on Wednesday.


Source: Reuters Business News

Japan's Fujifilm to take over Xerox in $6.1 billion deal, create joint venture

January 31, 2018 by  
Filed under News

(Reuters) – Japan’s Fujifilm Holdings is set to take over Xerox Corp in a $6.1 billion deal, combining the U.S. company into their existing joint venture to gain scale and cut costs amid declining demand for office printing.


Source: Reuters Business News

D.R. Horton's affordable homes unit to get boost from first-time buyers

January 31, 2018 by  
Filed under News

(Reuters) – D.R. Horton Inc’s creation four years ago of a separate affordable homes business is yielding results as robust economic growth returns confidence to the U.S. housing market, and other homebuilders are now increasingly focusing on the segment.


Source: Reuters Business News

DoJ, SEC probe Apple over slowing older iPhones: Bloomberg

January 30, 2018 by  
Filed under News

(Reuters) – The U.S. Department of Justice and Securities and Exchange Commission are investigating whether Apple Inc violated securities laws concerning its disclosures that it slowed older iPhones with flagging batteries, Bloomberg reported on Tuesday.


Source: Reuters Business News

U.S. consumer confidence rebounds; house prices march higher

January 30, 2018 by  
Filed under News

WASHINGTON (Reuters) – U.S consumer confidence rebounded in January and house prices increased further in November, suggesting that a recent acceleration in consumer spending was likely to be sustained despite sluggish wage growth.


Source: Reuters Business News

Wall St. succumbs to rising bond yields, sinking health stocks

January 30, 2018 by  
Filed under News

(Reuters) – Rising bond yields and a sell-off in healthcare shares sent the U.S. stock market sliding on Tuesday, with the Dow Jones Industrial Average’s 352-point tumble its steepest in eight months.


Source: Reuters Business News

Reuters News to get $325 million annually under Blackstone offer: sources

January 30, 2018 by  
Filed under News

LONDON (Reuters) – Blackstone Group LP has agreed that annual payments of $325 million would be made for 30 years to the Reuters News business as part of an offer by the U.S. private equity firm to buy a majority stake in Thomson Reuters’ Financial and Risk unit, two sources familiar with the matter said on Tuesday.


Source: Reuters Business News

Pfizer sees upbeat 2018 on lower tax rate, shares dip after highs

January 30, 2018 by  
Filed under News

(Reuters) – Pfizer Inc forecast 2018 profit and revenue well ahead of analysts’ estimates on Tuesday as it expects to benefit from reduced tax rate following the recent changes to the U.S. tax code, and recorded an $11 billion gain from the overhaul.


Source: Reuters Business News

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