News Archive - 3 March 2016

>The French oil major has a contract to buy about 200,000 bpd, while Cepsa's deal was for about 35,000 bpd, one source said. Total is expected to lift at least 5 million barrels in March, the source added.Litasco, the trading arm of Russia's Lukoil, Cepsaand Total have become the...

>WASHINGTON At least 70 Republican foreign policy veterans have signed a letter pledging to oppose Donald Trump and saying his proposals would undermine U.S. security, in the latest sign of fissures between the Republican presidential front-runner and the party establishment."Mr. Trump’s own statements lead us to conclude that...

>PHNOM PENH Unable to pay his way out of jail, Kong Chamroeun was remanded in a Cambodian prison pending trial for stealing $80 of company property, a crime his family said he did not commit."We had nothing, just empty hands," said his girlfriend, Lorn Chenda, who alleged police tried...

>BEIJING China's defense budget this year is likely to rise at its slowest pace since 2010, in line with the decelerating economy, by a much lower figure than had been expected, although it probably does not represent the true spending number. Fu Ying, spokeswoman for China's parliament, said the figure...

>DETROIT U.S. Republican presidential front-runner Donald Trump came under withering attack from rivals Marco Rubio and Ted Cruz at a debate on Thursday as the party's establishment sought to unite behind a last-ditch anti-Trump effort.The Fox News Channel debate became a mud-throwing fracas from the outset with tensions...

>Snapchat has raised $175 million in fresh funding from Fidelity Investments and other investors, according to a source familiar with the matter. The investment is an extension of Snapchat's Series F financing round, which the company began raising last year, the person told Reuters.Snapchat, which makes a free app...

>AMC will pay $30 per share in cash to buy all of Carmike's outstanding shares, which represents a premium of about 19.5 percent to Carmike's Thursday's close. Chinese property and investment firm Dalian Wanda Group had acquired AMC Entertainment for $2.6 billion in 2012. The transaction will be...

>"It will meaningfully expand our presence in the highly attractive premium segment of the global business bags, travel luggage and accessories market," Samsonite Chief Executive Officer Ramesh Tainwala said in a statement.Denver-found Samsonite said it would fund the deal through bank financing and the transaction was expected to close...

>WASHINGTON As Republican party insiders mount a desperate effort to derail the presidential campaign of billionaire Donald Trump, many of the party's 31 state governors are staying out of the fray. When New Mexico Governor Susana Martinez steps onto a Kansas stage on Friday to endorse Republican presidential candidate Marco...

>NEW YORK Royal Bank of Canada (RY.TO) plans to boost its share in the U.S. investment banking market by tapping opportunities with existing mid-sized and large clients and filling gaps left by European banks that are scaling back, one of its key executives said.With European banks like...

>TOKYO Asian shares look set to post a third straight weeks of gains on Friday as investors scaled back cautious bets on the global economy after a string of positive U.S. economic data and a recovery in oil and commodity prices.The rebound in risk asset prices could continue...

>SAN FRANCISCO The U.S. Chamber of Commerce planned to sue the city of Seattle on Thursday to challenge an ordinance allowing drivers of ride hailing apps Uber [UBER.UL] and Lyft to unionize, saying it violates federal antitrust laws. Seattle last year became the first U.S. city to...

>Shares of Broadcom, which also supplies to Apple Inc, were up 8 percent at $148.20 in extended trading on Thursday.The company said it expects to take charges of about $650 million related to the job cuts through 2018.Avago completed its $37 billion deal for Broadcom last month.

>Hewlett Packard Enterprise's (HPE) shares were up 6.4 percent at $14.47 in extended trading on Thursday.Revenue in HPE's enterprise group business, from which it derives more than half of its total revenue, rose about 1 percent to $7.1 billion in the first quarter ended Jan. 31,...

>Kim also said his country should turn its military posture to a "pre-emptive basis" because enemies are threatening the state's survival, its KCNA news agency said. (Reporting by Jack Kim, editing by G Crosse)...

>GE has received notice from the Department of Justice that it has completed its review of the proposed transaction, a GE spokeswoman told Reuters.GE abandoned the sale of the business to Sweden's Electrolux AB (ELUXb.ST) for $3.3 billion in December after months of opposition from regulators. The...

>NEW YORK If Mitt Romney wanted to ignite a debate about the suitability of Donald Trump for the White House, he succeeded, at least on social media.Romney, the 2012 Republican presidential nominee, lambasted Trump in a speech on Thursday in Salt Lake City, Utah, calling him "a phony, a...

>SAN FRANCISCO Yahoo Inc (YHOO.O) is exploring the sale of $1 billion to $3 billion of patents, property and other "non-core assets," its chief financial officer said on Thursday. Yahoo CFO Ken Goldman told the Morgan Stanley Technology, Media and Telecom Conference that a committee created to explore alternatives...

>Apple Inc launched a new Twitter account on Thursday dedicated to customer support, a move that expanded the company's social media presence and prompted immediate reaction from users complaining about their devices.The Cupertino, Calif.-based maker of phones, computers and watches said in a tweet under the handle @applesupport...

>ANKARA/ATHENS EU Council President Donald Tusk told illegal economic migrants on Thursday not to risk their lives or money to make a perilous trip to Europe "for nothing" but said unilateral actions by European Union states to deal with the crisis must stop.The ultimate aim was to eliminate the...

>NEW YORK Investors willing to bet the recent signs of improvement in the U.S. economy will continue may want to turn their attention to the beaten-down bank sector ahead of Friday's employment report. The S&P financial sector .SPSY is down more than 8 percent for the year, the worst-performing...

>Alphabet Inc's (GOOGL.O) Google, Facebook Inc (FB.O), Microsoft Corp (MSFT.O) and about a dozen other Internet companies will file a joint legal brief on Thursday asking a judge to support Apple Inc (AAPL.O) in its encryption battle with the U.S. government, sources familiar with the...

>“I share the concerns about Donald Trump that my friend and former Republican nominee, Mitt Romney, described in his speech today," McCain said in a statement."I would also echo the many concerns about Mr. Trump’s uninformed and indeed dangerous statements on national security issues that have been raised by...

>The ruling is a coup for the social network firm which has long argued its real-name policy ensures people know who they are sharing and connecting with and protects them from the abuse of the wide-open Internet.The Hamburg data protection authority, which is responsible for policing Facebook in Germany,...

>Amazon Tap, a portable speaker that streams music, sells for $129.99. The $89.99 Echo Dot is a hockey puck-shaped device that responds to prompts to control smart appliances and connects to external speakers.For now, Echo Dot is only available to Amazon Prime members who already have the...

>AMMAN In the devastated Syrian city of Aleppo, children are outside playing and many people are going to the shops safely for the first time in months thanks to a partial halt to the war that is providing relief even if most doubt that peace will take hold."Look at...

>LONDON Global business activity expanded at its weakest rate in over three years in February despite firms cutting prices for the first time since September, business surveys showed on Thursday.The U.S. service sector contracted for the first time since October 2013, euro zone businesses had their worst month...

>AUSTIN, Texas Dallas Federal Reserve President Robert Kaplan called on Thursday for the U.S. central bank to be patient when it comes to raising interest rates, citing the effect of tighter financial conditions on U.S. economic growth.Global factors like the drop in stock markets, the decline in...

>Elliott Associates said in a filing it believed the company's shares are "significantly undervalued".The stake, which the investor and its affiliates held as of March 2, makes it the biggest shareholder in Qlik according to Thomson Reuters data.Elliott said it has initiated talks with Qlik's management and board...

>New York Stock Exchange owner Intercontinental Exchange Inc's (ICE.N) potential offer for the London Stock Exchange (LSE.L) could include a proposal to spin off the LSE's Italian business and French clearing arm, a person familiar with the matter said.Atlanta-based ICE might explore divestitures of the French arm...

>Trump, the New York billionaire developer and former reality television star, sparked outrage in Mexico when he vowed to force Latin America's second largest economy to pay for a wall along the southern U.S. border to stem the flow of illegal immigration and drugs.In a televised interview late...

>"Golden parachute" payments are contracts that give a top executive substantial benefits if the company is taken over and their employment is terminated as a result.Dow CEO Andrew Liveris will get $52.8 million in cash, stock and other payments, while DuPont CEO Edward Breen will get $27.2...

>Audi, BMW (BMWG.DE) and Mercedes-Benz (DAIGn.DE) clubbed together last year to buy Nokia's maps business, beating out high-tech rivals for location services seen as key to the future of self-driving cars."There are different kinds of talks at the moment," Stadler told reporters. "We have let it be...

>GENEVA Syria's cessation of hostilities is holding but remains fragile after six days in which incidents have been contained in the provinces of Homs, Hama, Latakia and Damascus, U.N. Syria envoy Staffan de Mistura said on Thursday.De Mistura said that his office was working closely with Russia and...

>IDOMENI, Greece In muddy fields straddling the border with Macedonia, a transit camp hosting up to 12,000 homeless migrants in filthy conditions is the most dramatic sign of a new crisis tearing at Greece's frayed ties with Europe and threatening its stability.For the last year, Greece has largely waved...

>DOHA Credit cards on the limit, huge bank borrowings and a struggle to repay loans: these are the personal debt problems of some Qataris despite the Gulf state's reputation for fabulous wealth.Generous government salaries and free healthcare, funded by vast natural gas reserves in a country with only about...

>The Institute for Supply Management (ISM) said its index of non-manufacturing activity fell to 53.4 from 53.5 the month before. The reading was just above expectations of 53.2 from a Reuters poll of 81 economists.A reading above 50 indicates expansion in the service sector and a...

>The Commerce Department said on Thursday new orders for manufactured goods rebounded 1.6 percent after an unrevised 2.9 percent drop in December. That was the largest increase since June and followed two straight months of declines.Economists polled by Reuters had forecast factory orders rising 2.0 percent...

>Hong Kong Potential lenders to the US$20.2bn non-recourse loan backing China National Chemical Corp’s SFr43bn (US$43.45bn) acquisition of Swiss seeds and pesticides company Syngenta (SYNN.VX) are reviewing the terms of the financing following bank presentations held over the past week, bankers said.Global coordinator HSBC, alongside bookrunners...

>"This program ... will be based on a multi-role drone platform that could serve as a basis for future operational capacity after 2030," the statement said after a Franco-British summit. "We plan to invest 2 billion euros in this program with a technical assessment toward 2020." (Reporting By John Irish...

>SEOUL North Korea fired several short-range projectiles into the sea on Thursday, hours after the U.N. Security Council voted to impose tough new sanctions on the isolated state and the South Korean president vowed to end Pyongyang's "tyranny."The firing escalated tensions on the Korean peninsula, which have been...

>Initial claims for state unemployment benefits increased 6,000 to a seasonally adjusted 278,000 for the week ended Feb.27, the Labor Department said on Thursday. The prior week's claims were unrevised.Economists polled by Reuters had forecast claims slipping to 271,000 in the latest week. A Labor Department analyst said...

>BRASILIA Brazil's economy contracted sharply in 2015 as businesses slashed investment plans and laid off more than 1.5 million workers, official data showed on Thursday, setting the stage for what could be the country's longest and deepest recession in its recorded history.Brazil's gross domestic product (GDP) shrank 3.

>Wall Street looked set to open little changed on Thursday as investors await a raft of economic data, including the monthly jobs report on Friday, to further assess the health of the economy.While concerns linger over the state of the global economy, upbeat data from major economies this week...

>The Labor Department said on Thursday that productivity, which measures hourly output per worker, decreased at a 2.2 percent annual rate and not the 3.0 percent pace it reported last month. It was still the biggest drop since the first quarter of 2014. Economists polled by Reuters had...

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>BeIn has bought the entirety of the Californian studio for an undisclosed amount, it said. Selling shareholders of Miramax included Qatar Investment Authority and Colony Capital.Doha-based BeIn said that Miramax will continue to operate as an independent film and television studio. (bit.ly/1RIgcQL)State-owned Qatar Holding and Thomas Barrack Jr.

>MONTREAL/CHICAGO Canadian Pacific Railway Ltd (CP.TO) said on Wednesday it is looking at all legal options in response to what it described as concerted efforts by certain U.S. railroads to block its proposed merger with Norfolk Southern Corp (NSC.N). "It is unfortunate that CP must consider the...

>SAN FRANCISCO/DETROITGoogle's self-driving car team is expanding and hiring more people with automotive industry expertise, underscoring the company's determination to move the division past the experimental stage.The operation now employs at least 170 workers, according to a Reuters review of their profiles on LinkedIn, the business-oriented social network. Many...

>"The electricity network has been cut in all governorates," state news agency SANA said, reporting a source in the Ministry for Electricity. "Attempts to find out the cause of the outage have begun." A Reuters witness confirmed that electricity had been cut in Damascus. State media also reported that...

>NARAHA Tokuo Hayakawa carries a dosimeter around with him at his 600-year-old temple in Naraha, the first town in the Fukushima "exclusion zone" to fully reopen since Japan's March 2011 catastrophe. Badges declaring "No to nuclear power" adorn his black Buddhist robe. (For a video of 'Fukushima refugees face a...

>Google said in a statement it was providing a $1 million grant to the United Nations Children's Emergency Fund to help their volunteers on the ground, mostly in Latin America. The U.S. company said that it was also updating its products to make information on Zika more available.The...

>Two female militants were trapped in a building following the attack in the Bayrampasa district of Turkey's biggest city, the Turkish broadcaster said. (Reporting by Ayla Jean Yackley and Humeyra Pamuk; Writing by Daren Butler; Editing by Nick Tattersall)...