Reuters: Business News

    Sears chairman prevails in bankruptcy auction for retailer with $5.2 billion bid: sources


    Sears Holdings Corp Chairman Eddie Lampert prevailed in a bankruptcy auction for the U.S. department store chain with an improved takeover bid of roughly $5.2 billion, allowing the 126-year-old retailer to keep its doors open, people familiar with the...

    Sears Holdings Corp Chairman Eddie Lampert prevailed in a bankruptcy auction for the U.S. department store chain with an improved takeover bid of roughly $5.2 billion, allowing the 126-year-old retailer to keep its doors open, people familiar with the matter said Wednesday.

    Oil firm as supply cuts point to tighter market despite weakening economy


    Oil prices firmed on Wednesday after climbing about 3 percent in the previous session as expectations that OPEC-led supply cuts will tighten markets despite signs of a global economic slowdown. ...

    Oil prices firmed on Wednesday after climbing about 3 percent in the previous session as expectations that OPEC-led supply cuts will tighten markets despite signs of a global economic slowdown.

    BOJ to cut price forecasts, keep rosy economic view: sources


    The Bank of Japan is expected to cut its inflation forecasts at next week's rate review, sources say, a sign slumping oil prices and a darkening global economic outlook are heightening challenges for hitting its ambitious 2 percent target. ...

    The Bank of Japan is expected to cut its inflation forecasts at next week's rate review, sources say, a sign slumping oil prices and a darkening global economic outlook are heightening challenges for hitting its ambitious 2 percent target.

    Global shares weather May's Brexit debacle, pound steadies


    Global share markets and the sterling weathered a UK political storm as investors wagered that London will have no choice but to delay its Brexit deadline to avoid a disorderly exit from the European Union. ...

    Global share markets and the sterling weathered a UK political storm as investors wagered that London will have no choice but to delay its Brexit deadline to avoid a disorderly exit from the European Union.

    GM's Washington charm offensive sidelined by Wall Street's push for profit


    General Motors code named its November announcement to cut nearly 15,000 jobs in North America and restructure itself "Turbo," suggesting a leaner approach for the largest U.S. automaker would "accelerate its transformation." ...

    General Motors code named its November announcement to cut nearly 15,000 jobs in North America and restructure itself "Turbo," suggesting a leaner approach for the largest U.S. automaker would "accelerate its transformation."

    On the autofarm: China turns to driverless tractors, combines to overhaul agriculture


    A brand new combine harvester buzzes up and down a field in eastern China without a driver on board, chopping golden rice stalks and offering a glimpse of what authorities say is the automated future of the nation's mammoth agricultural sector. ...

    A brand new combine harvester buzzes up and down a field in eastern China without a driver on board, chopping golden rice stalks and offering a glimpse of what authorities say is the automated future of the nation's mammoth agricultural sector.

    Ford and IBM among quartet in Congo cobalt blockchain project


    Carmaker Ford , technology giant IBM , South Korean cathode maker LG Chem and China's Huayou Cobalt have joined forces in the first blockchain project to monitor cobalt supplies from Democratic Republic of Congo. ...

    Carmaker Ford , technology giant IBM , South Korean cathode maker LG Chem and China's Huayou Cobalt have joined forces in the first blockchain project to monitor cobalt supplies from Democratic Republic of Congo.

    Nissan plans to file for damages against Ghosn: source


    Nissan Motor Co Ltd plans to file a civil suit against ousted chairman Carlos Ghosn to claim damages resulting from the alleged misuse of company funds, a person with knowledge of the issue said, adding to the high-profile executive's legal headaches. ...

    Nissan Motor Co Ltd plans to file a civil suit against ousted chairman Carlos Ghosn to claim damages resulting from the alleged misuse of company funds, a person with knowledge of the issue said, adding to the high-profile executive's legal headaches.

    Tokyo court denies Nissan Ghosn's latest bail request


    The Tokyo District Court on Tuesday denied former Nissan Motor Co Ltd Chairman Carlos Ghosn's request for release on bail after his indictment last week on two new charges, making it likely the once-feted executive remains jailed for months. ...

    The Tokyo District Court on Tuesday denied former Nissan Motor Co Ltd Chairman Carlos Ghosn's request for release on bail after his indictment last week on two new charges, making it likely the once-feted executive remains jailed for months.

    Sears chairman's takeover proposal faces moment of truth


    Negotiations between Sears Holdings Corp Chairman Eddie Lampert and the bankrupt U.S. department store operator approached a resolution late on Tuesday as the billionaire hedge fund manager faced the choice of improving his $5 billion offer for the...

    Negotiations between Sears Holdings Corp Chairman Eddie Lampert and the bankrupt U.S. department store operator approached a resolution late on Tuesday as the billionaire hedge fund manager faced the choice of improving his $5 billion offer for the company or ending his takeover plans, people familiar with the matter told Reuters.

    McDonald's loses 'Big Mac' trademark case to Irish chain Supermac's


    McDonald's Corp has lost its rights to the trademark "Big Mac" in a European Union case ruling in favor of Ireland-based fast-food chain Supermac's, according to a decision by European regulators. ...

    McDonald's Corp has lost its rights to the trademark "Big Mac" in a European Union case ruling in favor of Ireland-based fast-food chain Supermac's, according to a decision by European regulators.

    Delaware judge orders Papa John's to turn over documents to founder


    A Delaware judge said on Tuesday Papa John's International Inc must turn over internal documents to the company's founder who has been seeking to reassert control over the pizza delivery chain after he resigned as chairman in July. ...

    A Delaware judge said on Tuesday Papa John's International Inc must turn over internal documents to the company's founder who has been seeking to reassert control over the pizza delivery chain after he resigned as chairman in July.

    Ex-employee of proxy solicitor Georgeson convicted of fraud


    A former senior managing director of a firm that advises companies on shareholder votes was convicted on Tuesday of participating in a scheme to bribe a proxy adviser's employee with sports and concert tickets to learn how its investor clients were...

    A former senior managing director of a firm that advises companies on shareholder votes was convicted on Tuesday of participating in a scheme to bribe a proxy adviser's employee with sports and concert tickets to learn how its investor clients were voting.

    Verizon deepens ties with Apple, offers free Apple Music to some U.S. customers


    Verizon Communications Inc said on Tuesday it will include free Apple Music subscriptions in some of its top-tier U.S. data plans, deepening its ties with the iPhone maker. ...

    Verizon Communications Inc said on Tuesday it will include free Apple Music subscriptions in some of its top-tier U.S. data plans, deepening its ties with the iPhone maker.

    USTR promises exclusion process for higher tariffs if China talks fail


    U.S. Trade Representative Robert Lighthizer has assured lawmakers that companies will be able to request exclusions on tariffs on $200 billion worth of goods under discussion with Beijing if talks do not yield a deal by the March 2 deadline. ...

    U.S. Trade Representative Robert Lighthizer has assured lawmakers that companies will be able to request exclusions on tariffs on $200 billion worth of goods under discussion with Beijing if talks do not yield a deal by the March 2 deadline.

    Nordstrom's full-price comparable sales for holiday season disappoints


    Nordstrom Inc said on Tuesday comparable store sales at its full-price department stores rose only 0.3 percent during the crucial months of November and December, blaming lower traffic. ...

    Nordstrom Inc said on Tuesday comparable store sales at its full-price department stores rose only 0.3 percent during the crucial months of November and December, blaming lower traffic.

    Industry must rein in spend on electric, self-driving cars: Magna CEO


    Global automobile and auto parts makers which want to capitalize on electric and autonomous vehicles need to cut back investments and forge more partnerships instead, the chief executive of global parts supplier Magna International said Tuesday. ...

    Global automobile and auto parts makers which want to capitalize on electric and autonomous vehicles need to cut back investments and forge more partnerships instead, the chief executive of global parts supplier Magna International said Tuesday.

    Snap CFO Tim Stone to resign, shares drop 8 percent


    Chief Financial Officer Tim Stone will be leaving Snap Inc less than a year after taking the job, the company said on Tuesday, the latest in a string of executive departures from Snap over the past year. ...

    Chief Financial Officer Tim Stone will be leaving Snap Inc less than a year after taking the job, the company said on Tuesday, the latest in a string of executive departures from Snap over the past year.

    Delta, United profit beats encourage sector, but shutdown impact looms


    Delta Air Lines Inc and United Airlines kicked off fourth-quarter earnings reporting for the sector on Tuesday with profits that beat Wall Street expectations, but the rippling effects of a government shutdown could take a toll on the current quarter...

    Delta Air Lines Inc and United Airlines kicked off fourth-quarter earnings reporting for the sector on Tuesday with profits that beat Wall Street expectations, but the rippling effects of a government shutdown could take a toll on the current quarter and beyond.

    France seeks Renault board meeting to replace Ghosn: sources


    The French government is moving to dismiss Renault's scandal-hit Chairman and Chief Executive Carlos Ghosn and has requested a board meeting to consider candidates to replace him, sources with knowledge of the matter told Reuters. ...

    The French government is moving to dismiss Renault's scandal-hit Chairman and Chief Executive Carlos Ghosn and has requested a board meeting to consider candidates to replace him, sources with knowledge of the matter told Reuters.