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Updated: 2 hours 26 min ago

Ford's 2017 profit misses Wall Street estimates

2 hours 33 min ago
(Reuters) - Ford Motor Co on Tuesday reported 2017 preliminary adjusted earnings that missed market estimates, while its 2018 earnings forecast largely fell short of analysts' expectations.
Categories: Business News

Nissan's Infiniti to become predominantly electric brand: CEO

2 hours 40 min ago
DETROIT (Reuters) - Japanese carmkaker Nissan Motor Co. plans to transform its upscale Infiniti brand into a primarily electrified vehicle offering, Chief Executive Hiroto Saikawa said on Tuesday.
Categories: Business News

Wall St. eases as oil prices, General Electric fall

2 hours 58 min ago
NEW YORK (Reuters) - Wall Street paused its rally on Tuesday, weighed down by weakness in General Electric shares and as lower oil prices dragged down the energy sector.
Categories: Business News

Wells Fargo loses bid to end Philadelphia predatory lending lawsuit

3 hours 26 min ago
(Reuters) - A federal judge in Philadelphia on Tuesday rejected Wells Fargo & Co's bid to dismiss that city's lawsuit accusing the largest U.S. mortgage lender of predatory lending targeting black and Hispanic borrowers.
Categories: Business News

Exclusive: Mexico's Pemex chose Japan's Mitsui to complete Tula coking plant - sources

3 hours 34 min ago
MEXICO CITY (Reuters) - Mexican state oil company Pemex [PEMX.UL] has chosen Japanese conglomerate Mitsui as its partner for a $2.6 billion coking plant project at its Tula refinery in a preliminary deal, two sources told Reuters this week.
Categories: Business News

GE renews break-up talk after $11 billion insurance, tax hit

3 hours 54 min ago
(Reuters) - General Electric Co again raised the prospect of breaking up the conglomerate on Tuesday as it announced more than $11 billion in charges from its long-term care insurance portfolio and new U.S. tax laws.
Categories: Business News

Health-conscious Nestle sells U.S. candy to Ferrero for $2.8 billion

5 hours 28 min ago
LONDON/MILAN (Reuters) - Swiss food group Nestle has agreed to sell its U.S. confectionery business to Italy's Ferrero for $2.8 billion, it said on Tuesday, marking CEO Mark Schneider's first big sale and a small step on its path towards healthier products.
Categories: Business News

Nestle sells U.S. candy business to Ferrero for $2.8 billion amid health push

5 hours 42 min ago
LONDON/MILAN (Reuters) - Swiss food group Nestle has agreed to sell its U.S. confectionery business to Italy's Ferrero for $2.8 billion, it said on Tuesday, marking CEO Mark Schneider's first big sale and a small step on its path toward healthier products.
Categories: Business News

Britain investigates Carillion directors after collapse

5 hours 59 min ago
LONDON/CAMBRIDGE, England (Reuters) - Britain ordered a fast-track inquiry into the role played by Carillion's directors in the failure of the construction and services group, as some of its thousands of small suppliers started to lay off workers on Tuesday.
Categories: Business News

Dow hits 26,000 for first time on earnings optimism

6 hours 44 min ago
(Reuters) - The Dow Jones Industrial Average raced past the 26,000 mark for the first time on Tuesday as fourth-quarter earnings season got off to a strong start following upbeat results from UnitedHealth and Citigroup.
Categories: Business News

GE renews break-up talk as it discloses $11 billion fourth quarter hit

7 hours 22 min ago
(Reuters) - General Electric Co again raised the prospect of breaking up the conglomerate on Tuesday as it announced more than $11 billion in charges from its long-term care insurance portfolio and new U.S. tax laws.
Categories: Business News

Citigroup reports $18 billion loss on one-time tax items

8 hours 59 min ago
(Reuters) - Citigroup Inc posted an $18-billion quarterly loss on Tuesday because of charges related to a new U.S. tax law, but its adjusted earnings beat Wall Street expectations and management signaled that the bank may soon lift financial performance targets.
Categories: Business News

German strikes spread to Daimler, union mulls escalation

9 hours 15 min ago
BERLIN/FRANKFURT (Reuters) - Tens of thousands of German industrial workers downed tools on Tuesday in support of trade union IG Metall's demands for a 6 percent pay rise and a right to the first new cut in weekly working hours since the 1980s.
Categories: Business News

GE to take $6.2 billion hit from insurance portfolio

9 hours 35 min ago
(Reuters) - General Electric Co will take a $6.2 billion charge in its fourth quarter results for a more than decade-old insurance portfolio covering long-term healthcare costs, the company said on Tuesday.
Categories: Business News

Dow breaches 26,000 mark on robust earnings reports

9 hours 49 min ago
(Reuters) - Wall Street's main indexes rose sharply on Tuesday, with the Dow hitting the 26,000 mark for the first time, as the fourth-quarter earnings season kicked into high gear.
Categories: Business News

GM sees flat 2018 earnings, with pickups picking up in 2019

10 hours 26 min ago
DETROIT (Reuters) - General Motors Co shares rose on Tuesday after the company said 2018 earnings will be largely flat compared with 2017 and forecast higher profits in 2019 when its revamped line of high-margin pickup trucks hits the U.S. market.
Categories: Business News

Shares stay on record run as metals skid

10 hours 34 min ago
LONDON (Reuters) - Asia and Europe's big bourses kept world shares on their record-breaking run on Tuesday, although a steadier dollar halted the sizzling start to the year for the euro, yen and yuan and sent metals markets skidding.
Categories: Business News

Suppliers and staff count the cost of UK Carillion's collapse

11 hours 10 min ago
LONDON/EDINBURGH (Reuters) - The collapse of British services group Carillion started to hurt thousands of small contractors on Tuesday, with some laying off workers after the rapid demise of a company that was winning state contracts as recently as November.
Categories: Business News

GM sees 2018 earnings flat, with pickups picking up in 2019

11 hours 47 min ago
DETROIT (Reuters) - General Motors Co said on Tuesday it expects earnings in 2018 to be largely flat compared with 2017, but that profits should pick up pace in 2019 as its revamped line of high-margin pickup trucks hits the U.S. market.
Categories: Business News

Citi reports $18.3 billion loss on tax law; adjusted profit rises 4 percent

11 hours 48 min ago
(Reuters) - Citigroup Inc on Tuesday posted an $18.3 billion quarterly net loss on one-time tax charges, but said adjusted income rose 4 percent from a year earlier as consumer businesses made up for lower revenue from bond and currency trading. The loss for the fourth quarter was due to a $19 billion write-down on the value of deferred tax assets left from losses in the financial crisis and $3 billion of expenses for the new U.S. tax on past profits earned and kept abroad.
Categories: Business News

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