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  • Exclusive: Mitsui, Saudi Aramco, Russia's RDIF in talks to buy Arctic LNG 2 stakes

    December 21, 2018 5:01 PM 41

    MOSCOW/DUBAI (Reuters) - Japan’s Mitsui & Co Ltd (8031.T), Russian sovereign wealth fund RDIF and Saudi Aramco are in talks to buy stakes in Novatek’s (NVTK.MM) Arctic LNG 2 project, with the size of the investments still to be decided, sources familiar with the talks told Reuters. Novatek plans to start producing LNG at Arctic LNG 2 in 2022-2023. The plant

  • ExxonMobil shelves Canada LNG export project

    December 20, 2018 5:36 PM 69

    LONDON/HOUSTON (Reuters) - U.S. oil major Exxon Mobil Corp (XOM.N) has withdrawn its WCC liquefied natural gas (LNG) export project in Canada from an environmental assessment, it said on Thursday, signaling that the project has been shelved. The decision to pare its LNG project portfolio follows the decision by a Royal Dutch Shell-led group to build

  • German court rules Apple infringed Qualcomm patent

    December 20, 2018 4:01 PM 64

    MUNICH (Reuters) - A German court ruled on Thursday that iPhone maker Apple Inc (AAPL.O) infringed a hardware patent of Qualcomm Inc (QCOM.O) and said the U.S. company could no longer sell some iPhone models in Germany which contain a particular component. The ruling is not final as Apple can appeal to a higher court, judge Matthias Zigann told the court

  • Sears to take $443 million in charges arising from store closures

    December 18, 2018 11:29 PM 43

    (Reuters) - Bankrupt U.S. retailer Sears Holdings Corp will take a charge of about $443 million arising from store closures, a regulatory filing showed on Tuesday. The company said some of the charges have already been incurred in the third quarter, while the remaining charges will be booked in the fourth quarter. Total costs related to closing 73 Sears

  • Citi reorganizes prime brokerage unit

    December 18, 2018 9:08 PM 43

    (Reuters) - Citigroup Inc (C.N) is shuffling its prime brokerage business, according to an internal memo seen by Reuters, amid reports that the unit could lose millions on a bad loan to an Asian hedge fund. Bloomberg earlier reported that Citi faces a loss of up to $180 million related to risky foreign-exchange bets. Citi and the hedge fund are in talks

  • Italy's UniCredit settles dispute with Caius

    December 18, 2018 7:55 AM 62

    MILAN (Reuters) - British hedge fund Caius has made a payment to UniCredit (CRDI.MI) to settle a dispute over complex financial instruments which Italy’s biggest bank counts toward its core capital, the two companies said. Caius had questioned UniCredit’s CASHES securities, arguing they should not be classed as best-quality capital. “Caius intends to take no further

  • Google Is Spending $1 Billion on a Massive New York City Expansion

    December 17, 2018 12:48 PM 37

    NEW YORK — Google is spending more than $1 billion to expand operations in New York City. Ruth Porat, senior vice president and chief financial officer at Google and Alphabet, said in a blog post Monday that Google is creating a more than 1.7 million square-foot campus that includes lease agreements along the Hudson River in lower Manhattan. Google Hudson

  • Canada says it agrees with U.S. on need to keep politics out of Huawei case

    December 14, 2018 8:10 PM 38

    WASHINGTON (Reuters) - Canada and the United States agreed on Friday that politics should be kept out of the process to extradite senior Huawei Technologies Co [HWT.UL] executive Meng Wanzhou, who is being held on a U.S. extradition warrant, Canadian Foreign Minister Chrystia Freeland said. “We all agree that the most important thing we can do is to uphold

  • Lawyers of ex-Nissan boss: Carmaker could have planted evidence

    December 13, 2018 10:12 PM 38

    SAO PAULO (Reuters) - The battle between Nissan Motor Co Ltd (7201.T) and its ousted Chairman Carlos Ghosn in Brazil’s courts escalated on Thursday after the Japanese carmaker sued his sister alleging “unjust enrichment” and his lawyers alleged Nissan could have planted evidence. In the afternoon, Nissan faced a setback in its battle to secure the contents

  • Delta Air Lines shares drop on weak revenue outlook

    December 13, 2018 5:16 PM 46

    (Reuters) - Shares in U.S. carrier Delta Air Lines Inc (DAL.N) dropped 4 percent in Thursday morning trading on concerns that slowing global economies would limit the No. 2 U.S. airline’s revenue growth in 2019 despite strong travel demand. At its investor day, Atlanta-based Delta forecast a 4 to 6 percent rise in revenues, compared to an average 5.6 percent