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  • Swiss competition watchdog probes suspected payment systems boycott

    November 15, 2018 6:55 AM 89

    ZURICH (Reuters) - Switzerland’s competition watchdog WEKO said it had searched offices of Swiss financial companies including Credit Suisse (CSGN.S) and UBS (UBSG.S) as it probes a suspected boycott of mobile payment solutions such as Apple Pay and Samsung Pay. The probe targets Aduno Holding, Postfinance, Swisscard AECS GmbH and Swiss units of Credit

  • Suncor CEO to retire next year, be replaced by COO

    November 14, 2018 10:36 PM 89

    (Reuters) - Suncor Energy Inc said on Wednesday its chief executive will retire mid-next year, with the company’s chief operating officer taking over the top job at that time. Steve Williams, who has been with the company for 16 years and CEO since 2012, will step down after Suncor’s Annual General Meeting in May 2019, the Calgary-based company said. He will be replaced

  • Exclusive: Sears finalizing $350 million bankruptcy loan with Great American

    November 14, 2018 4:36 PM 96

    (Reuters) - Sears Holdings Corp (SHLDQ.PK) is finalizing a deal with financial firm Great American Capital Partners and other lenders for $350 million in critical bankruptcy financing that would keep the U.S. retailer open through the holidays, people familiar with the matter said on Wednesday. The deal would increase an existing financing package from banks

  • Macy's boosts annual earnings forecast

    November 14, 2018 1:09 PM 83

    (Reuters) - Macy’s Inc (M.N) raised its annual earnings forecast ahead of the crucial holiday shopping season, as the department store chain benefits from a revamped loyalty program and a growing online business. Macy’s now expects adjusted earnings of between $4.10 and $4.30 per share in fiscal year 2018, compared with an earlier forecast of $3.95 to $4.15 per share

  • Nike hires former Coca-Cola executive as Jordan Brand president

    November 13, 2018 10:34 PM 90

    (Reuters) - Nike Inc (NKE.N) on Tuesday named former Coca-Cola Co (KO.N) executive Craig Williams as president of its sports shoes unit Jordan Brand. Williams, who will take charge on Jan. 14, most recently headed the world’s biggest beverage maker’s partnership with fast-food chain McDonald’s. He will replace Larry Miller who will become the chairman

  • Starbucks to lay off 350 global corporate employees

    November 13, 2018 10:22 PM 89

    (Reuters) - Starbucks Corp (SBUX.O) is laying off about 350 global corporate employees, Chief Executive Officer Kevin Johnson said on Tuesday in a memo to employees, seen by Reuters. The elimination of the non-store employees is part of a restructuring plan that Johnson unveiled in September in an attempt to make the company nimble enough to tackle rivals

  • Impact of U.S. court ruling on Keystone XL timing unclear: TransCanada

    November 13, 2018 4:39 PM 92

    (Reuters) - TransCanada Corp is reviewing a decision by a Montana judge blocking construction of the Keystone XL pipeline, but the impact on project timing remains unclear, the company’s top crude pipeline executive said on Tuesday. “We’re going through the decisions, we’re reviewing the deficiencies to determine how best to address the deficiencies

  • You can't copyright taste, EU court says in setback for food industry

    November 13, 2018 1:31 PM 84

    BRUSSELS (Reuters) - Europe’s top court dealt the food industry a blow on Tuesday as it dismissed an attempt by a Dutch cheese maker to copyright its cream cheese, saying that the taste of a food product does not qualify for copyright protection. Dutch company Levola Hengelo, maker of a cheese spread called Heksenkaas (witches’ cheese), took rival Smilde

  • Amazon Is Splitting HQ2 Between These 2 East Coast Cities

    November 13, 2018 12:01 PM 88

    RICHMOND, Va. — A person familiar with the plans says Amazon will split its second headquarters between Long Island City in New York and Crystal City in northern Virginia. The online retailer is expected to make an official announcement later Tuesday. The person was not authorized to speak publicly ahead of that announcement and spoke on condition of anonymity

  • Iran sells more oil to private exporters to bypass U.S. curbs

    November 11, 2018 2:07 PM 102

    DUBAI (Reuters) - Iran sold 700,000 barrels of crude oil to private companies for export on Sunday in a second round of sales aimed at countering U.S. sanctions on the country’s exports, oil ministry news website SHANA reported. Three unnamed companies paid $64.97 per barrel for two crude shipments of 245,000 barrels each and one shipment of 210,000 barrels