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  • Top German court rules Uber limousine service illegal

    December 13, 2018 11:02 AM 108

    KARLSRUHE, Germany (Reuters) - Germany’s highest court ruled on Thursday that a defunct limousine service offered by Uber [UBER.UL] was illegal, in a setback for the U.S. ride-hailing company that has struggled to comply with the law in Europe’s largest economy. The Federal Court of Justice, handing down a final decision, upheld lower-court rulings in favor

  • U.S. not swayed by WTO reform proposals

    December 12, 2018 4:14 PM 86

    GENEVA (Reuters) - Proposals for reforming the World Trade Organization fail to deal with problems raised by the United States, the U.S. envoy to the WTO told its General Council on Wednesday. U.S. President Donald Trump’s administration says the WTO is dysfunctional because it has failed to hold China to account for not opening up its economy as envisaged

  • China preparing plan to increase access for foreign companies: WSJ

    December 12, 2018 3:52 PM 79

    (Reuters) - China is planning to replace an industrial policy with a new program that promises greater access for foreign companies, the Wall Street Journal reported here on Wednesday, in a move to resolve trade tensions with the United States. China’s top planning agency and senior policy advisers are drafting the replacement for President Xi Jinping’s

  • China welcomes any effort to move Huawei case toward resolution

    December 12, 2018 7:16 AM 90

    BEIJING (Reuters) - China’s Foreign Ministry said on Wednesday that Canada’s arrest of Meng Wanzhou, a top executive with Chinese tech giant Huawei, was a mistake from the start, and welcomed any efforts to move the case toward a correct resolution. Ministry spokesman Lu Kang made the comment at a regular press briefing after U.S. President Donald Trump

  • Boeing needs a surge to hit year-end delivery goal

    December 11, 2018 10:03 PM 93

    (Reuters) - Shares in Boeing Co (BA.N) slipped 2 percent on Tuesday after November deliveries suggested the world’s largest planemaker will need a surge in deliveries in December to hit its year-end targets, though it surpassed some analyst expectations. Boeing said it delivered 61 of its top-selling 737 single-aisle jetliners in November, above its monthly

  • U.S. fund Castlelake to buy planes from AirAsia in $800 million deal: sources

    December 11, 2018 7:34 AM 97

    SINGAPORE (Reuters) - U.S. private investment firm Castlelake LP has struck a deal to buy a portfolio of about 30 narrowbody planes from AirAsia Group Bhd (AIRA.KL) for a total price of roughly $800 million, people familiar with the transaction said. The deal underscores the strong appetite of funds to invest in the global aircraft leasing sector, which

  • Three broker-dealers settle SEC charges over incomplete data

    December 11, 2018 5:12 AM 109

    (Reuters) - Broker-dealers Citadel Securities, Natixis Securities Americas LLC and MUFG Securities Americas Inc agreed to pay total penalties of more than $6 million to settle charges of providing incomplete trading data, the U.S. Securities and Exchange Commission (SEC) said on Monday. Citadel were charged with submitting incorrect data for nearly 80 million

  • Lockheed Martin names Kenneth Possenriede chief financial officer

    December 10, 2018 10:14 PM 83

    (Reuters) - U.S. defense contractor Lockheed Martin Corp (LMT.N) on Monday named Kenneth Possenriede chief financial officer, replacing Bruce Tanner. Tanner plans to retire in mid-2019 and Possenriede is expected take on the new role on Feb. 11, the company said. Possenriede is currently vice president of finance and program management at the company’s

  • NZ's Restaurant Brands signs deal to expand Taco Bell in NZ, Australia

    December 10, 2018 8:45 PM 87

    (Reuters) - Fast-food group Restaurant Brands New Zealand Ltd (RBD.NZ) inked a deal to expand “Tex-Mex” food chain Taco Bell’s brand in New Zealand and in Australia’s New South Wales, the company said on Tuesday. The agreement reached with Taco Bell Restaurants Asia PTE dictates the construction of more than 60 new Taco Bell restaurants in NZ and Australia

  • Verizon says to shed 10,400 jobs by mid next year

    December 10, 2018 4:08 PM 121

    (Reuters) - Verizon Communications Inc said on Monday that about 10,400 employees will be leaving the U.S. wireless carrier by mid next year as part of the company’s voluntary separation program. The New York-based company has been looking at cutting costs as it ramps up investment in its next generation 5G network, which is expected to fuel growth