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SoftBank joins GM in self-driving car race; GM shares soar

May 31, 2018 by  
Filed under News

(Reuters) – Japan’s SoftBank Group Corp will invest $2.25 billion in General Motors Co’s autonomous vehicle unit Cruise, the companies said on Thursday, a deal that validates the venerable Detroit automaker’s leadership in self-driving cars and sent GM shares up more than 10 percent.


Source: Reuters Business News

Goldman says second-quarter market activity decreased vs first quarter

May 31, 2018 by  
Filed under News

(Reuters) – Goldman Sachs Group Inc President David Solomon said second-quarter market activity has decreased compared to the first quarter, when heightened volatility helped Wall Street banks record huge profits.


Source: Reuters Business News

U.S. hits allies with tariffs as trade war fears rise

May 31, 2018 by  
Filed under News

WASHINGTON/PARIS (Reuters) – The United States on Thursday said it will impose tariffs on aluminum and steel imports from Canada, Mexico and the European Union, ending months of uncertainty about potential exemptions and reigniting fears of a global trade war.


Source: Reuters Business News

Deutsche Bank's U.S. ops deemed "troubled" by Fed a year ago: WSJ

May 31, 2018 by  
Filed under News

FRANKFURT (Reuters) – The United States Federal Reserve last year designated Deutsche Bank AG’s U.S. operations to be in “troubled condition”, The Wall Street Journal reported on Thursday, citing people familiar with the matter.


Source: Reuters Business News

Exclusive: Russia's Deripaska empire bets on mid-summer plan to escape U.S. sanctions

May 31, 2018 by  
Filed under News

LONDON (Reuters) – The aluminum empire of Russian magnate Oleg Deripaska is in close contact with the U.S. Treasury, but needs until mid-summer to come up with a plan to meet U.S. requirements to escape sanctions, the chairman of its holding company told Reuters.


Source: Reuters Business News

Blackstone sees scope for Italian deals despite political strife

May 30, 2018 by  
Filed under News

NEW YORK (Reuters) – Alternative asset manager Blackstone Group LP is still open to doing deals in Italy despite political turmoil in the euro zone country, President and Chief Operating Officer Jon Gray said on Wednesday.


Source: Reuters Business News

Energy, banks fuel Wall Street's rebound, S&P 500 erases losses

May 30, 2018 by  
Filed under News

(Reuters) – U.S. stocks rose on Wednesday, with a surge in energy stocks helping Wall Street recover from a steep selloff in the previous session that was driven by political turmoil in Italy.


Source: Reuters Business News

Exxon CEO urges New York prosecutor to rethink climate change probe

May 30, 2018 by  
Filed under News

DALLAS (Reuters) – Exxon Mobil Corp’s chief executive said on Wednesday that he hopes the new attorney general in New York “comes to a different conclusion” than predecessor Eric Schneiderman on a climate change probe into the world’s largest publicly traded oil producer.


Source: Reuters Business News

Uber seeks to cut pricing on $1.13 billion term loan

May 30, 2018 by  
Filed under News

NEW YORK (LPC) – Ride-hailing service Uber Technologies Inc is asking lenders to lower pricing on its $1.13 billion term loan due in 2023, sources said.


Source: Reuters Business News

Consumer Reports recommends Tesla's Model 3 after braking fix

May 30, 2018 by  
Filed under News

(Reuters) – Influential U.S. magazine Consumer Reports said on Wednesday that it now recommended Tesla Inc’s Model 3 after its testers found that a recent firmware update improved the car’s braking distance by nearly 20 feet.


Source: Reuters Business News

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