Receive up-to-the-minute news updates on the hottest topics with NewsHub. Install now.

Business

All category news

  • Onset of recession may take longer than expected after yield curve inverts

    December 10, 2018 9:14 AM 79

    (Reuters) - The onset of a U.S. recession could take longer than usually thought after key points of the Treasury yield curve invert, as a surge in U.S. short-dated debt issuance has altered the dynamics of the Treasury market and other indicators show an economic downturn is farther off. As the Trump administration ramps up debt sales to cover a budget

  • Hitachi shares rise after report it is considering scrapping Britain nuclear project

    December 10, 2018 8:35 AM 75

    TOKYO (Reuters) - Hitachi Ltd (6501.T) shares rose as much as 2.9 percent on Monday after Japan’s TV Asahi reported the firm is considering scrapping its 3 trillion yen ($26.61 billion) nuclear project in Britain due to projections of further increases in construction costs. Hitachi’s Horizon Nuclear Power plans to build over 5 gigawatts of new nuclear

  • Alibaba takes control of film group in $160 million share purchase

    December 10, 2018 1:26 AM 84

    BEIJING (Reuters) - Alibaba Group Holding Ltd (BABA.N) said on Monday it will increase its stake in Hong Kong-listed Alibaba Pictures (1060.HK) to 51 percent, taking control of the film unit’s board. Alibaba Pictures will issue one billion new shares to Alibaba at HK$1.25, valuing the exchange at roughly HK$1.25 billion ($159.9 million), the e-commerce

  • BMW names Vukotich as new head of autonomous driving development

    December 8, 2018 1:29 PM 86

    FRANKFURT (Reuters) - Germany luxury carmaker BMW (BMWG.DE) said on Saturday Alejandro Vukotich will be the new head of its driver assistance and autonomous driving development department from January 2019. Vukotich will replace Elmar Frickenstein, who has been in charge of the department since it was created in May 2016 and who will retire after a three-month

  • Tesla hires Washington trial lawyer as new general counsel

    December 7, 2018 5:59 AM 95

    (Reuters) - Tesla Inc has hired Dane Butswinkas, a Washington, D.C. trial lawyer, as its general counsel, the electric car manufacturer said late on Thursday. Tesla Chief Executive Officer Elon Musk had hired Butswinkas to help settle a case with the U.S. Securities and Exchange Commission, Bloomberg had reported in October. Musk and Tesla paid $20 million

  • Chevron projects $20 billion spending budget for 2019

    December 6, 2018 10:54 PM 90

    HOUSTON (Reuters) - Chevron Corp (CVX.N), the second largest U.S.-based oil producer, is budgeting $20 billion for capital projects next year, the company said on Thursday. The San Ramon, California-based company’s spending budget is at the high end of its annual $18 billion to $20 billion range through 2020 that it set earlier this year. Chevron said in a statement

  • Volkswagen brand seeks 6-billion-euro cost, efficiency gains by 2023: Handelsblatt

    December 5, 2018 6:15 PM 99

    FRANKFURT (Reuters) - Volkswagen’s (VOWG_p.DE) core brand will seek cost and efficiency gains of almost 6 billion euros ($6.8 bln) in an effort to raise the VW brand’s operating margin to 6 percent by 2023, German daily Handelsblatt said, citing company sources. Volkswagen has said it seeks to achieve an operating return on sales of at least 6 percent

  • Petrobras unveils plan to boost asset sales, deepwater investment

    December 5, 2018 5:50 PM 92

    SAO PAULO/RIO DE JANEIRO (Reuters) - Brazilian state-run oil company Petroleo Brasileiro SA (PETR4.SA) plans to raise some $26.9 billion via asset sales and partnerships by 2023 while boosting investments on the front edge of an anticipated production boom in Brazil. Petrobras intends to make $84.1 billion in investments from 2019 to 2023, above the $74.5 billion

  • Tom Cruise Is Here to Deliver Some Really Great Movie-Watching Advice

    December 5, 2018 2:22 PM 87

    Tom Cruise appeared alongside Mission: Impossible – Fallout director Christopher McQuarrie in a Twitter video Tuesday with an extremely wise home theater suggestion: When watching movies at home, you should turn off your TV’s motion smoothing setting. Your TV’s motion smoothing setting is probably buried somewhere in its video menu. If you do a Google

  • Berlin: German automakers' meeting with Trump separate to U.S.-EU trade talks

    December 5, 2018 11:02 AM 82

    BERLIN (Reuters) - Discussions between German car executives and President Donald Trump in Washington on Tuesday should be seen as separate from the trade talks between the European Union and the United States, a German government spokeswoman said on Wednesday. She said the talks were held for corporate reasons and the atmosphere was good. During the meeting