News Archive - 20 June 2016

>WASHINGTON Vice President Joe Biden on Monday will denounce Republican Donald Trump’s call for a halt to Muslim immigration as an appeal to intolerance and defend the U.S. fight against Islamic State at a time of dissent within the Obama administration over Syria policy.Biden will deliver a wide-ranging...

>NEW YORK/WASHINGTON Republican presidential hopeful Donald Trump’s campaign raised $3.1 million from donors in May, more than doubling previous monthly hauls as he began soliciting donations to battle Democratic rival Hillary Clinton.But with spending that outpaced inflows, the New York real estate magnate's campaign began June with just...

>BRASILIA Brazil on Monday offered its state governments 50 billion reais ($15 billion) of emergency debt relief over the next three years in an effort to shore up public services and extended an emergency loan to Rio de Janeiro before the Olympics amid the worst recession since the 1930s.Finance...

>The lawsuit, which also names as defendants Volkswagen Group of America Inc and Volkswagen Group of America Finance Inc, claims that "false and misleading statements and omissions" by Volkswagen caused its bonds to trade at "artificially inflated prices..., only to decline after the emissions scandal went public," the law...

>TOKYO The British pound held near three-week highs against the dollar and euro on Tuesday, a day after it had made its biggest daily gains since late 2008 as opinion polls swung in favor of the campaign for Britain to stay in the European Union.Two opinion polls on Monday...

>Saudi Arabia's crude oil exports also dropped despite high production levels, suggesting demand remains in a deficit to supply. U.S. crude's expiring July front-month contract was down 18 cents at $49.19 a barrel at 0046 GMT. The more actively traded August contract, the new front-month from Wednesday, was...

>NEW YORK New York State has passed legislation that would ban Airbnb users from listing some short-term rentals, a move that represents a new line of attack by legislators against the company in one of its most important markets. The bill was approved on Friday by the New York State...

>TOKYO Asian shares got off to a tentative start on Tuesday, as investors paused after a rally triggered by growing expectations that British voters will opt to remain in the European Union in this week's referendum.Two of the latest polls released over the weekend showed the "Remain" camp in...

>NEW YORK/SAN FRANCISCO Elliott Management Corp's deal to acquire Dell Inc's software assets shows how the U.S. hedge fund and prominent activist investor is stepping up its private equity practice, and positioning itself for more takeovers in the tech sector. The more than $2 billion purchase, done with buyout...

>WASHINGTON About three months ago, Sarah Ibrahim's son came home from his fourth-grade class at a Maryland school with a disturbing question."Will I have time to say goodbye to you before you're deported?" he said, according to Ibrahim, a Muslim Arab American who works at a federal government...

>NEW YORK A federal judge said Uber Technologies Inc can be added as a defendant in an antitrust lawsuit against its chief executive officer over its pricing practices, an outcome the ride-sharing service wanted in its bid to force the case into arbitration.In a decision made public on Monday,...

>SAN FRANCISCO The Chinese government appears to be abiding by its September pledge to stop supporting the hacking of American trade secrets to help companies there compete, private U.S. security executives and government advisors said on Monday.FireEye Inc , the U.S. network security company best known for...

>EDINBURGH Two opinion polls on Monday suggested support for Britain staying in the European Union had recovered some ground following the murder of a pro-EU lawmaker, but a third poll found support for a "Brexit" ahead by a whisker.Britons vote on Thursday to decide whether to quit the bloc...

>BOSTON Billionaire investor William Ackman revved up his campaign against Herbalife on Monday as investors await the outcome of a U.S. Federal Trade Commission (FTC) probe into the business practices of the nutritional supplements maker.Ackman's hedge fund, Pershing Square Capital Management, released a video on Monday that it...

>The measure fell seven votes short of the 60 needed. The Senate is now set to vote on three other gun control proposals. (Reporting By Richard Cowan; Editing by Mary Milliken)...

>WASHINGTON President Barack Obama made a plug on Monday for the Trans-Pacific Partnership trade deal to a group of 2,400 investors looking at locating business in the United States, saying the deal would help boost the global economy.Trade has become a hot-button issue in the Nov. 8 presidential election...

>Tesla has signed a non-binding agreement with Shanghai government-owned Jinqiao Group for the production base, Bloomberg reported on Monday, citing a person familiar with the matter.Jinqiao and Tesla may invest about $4.5 billion each in the partnership, with the Chinese group putting up land for most of its...

>The company's plan to issue two "Class C" shares for each Class A and Class B share held by shareholders, in what is effectively a 3-for-1 stock split, was approved by Facebook shareholders at the company's annual general meeting on Monday.The Class C shares will be publicly traded under...

>WASHINGTON The U.S. Navy chief said on Monday he hoped the deployment of two aircraft carriers on a training mission in East Asia would deter any attempts to destabilize the region, where military tensions have risen amid China's growing assertiveness.The U.S. carriers John C. Stennis and Ronald...

>The Office of Inspector General (OIG) at the Fed's Board of Governors plans to release the audit in the fourth quarter, the OIG said in a report on current and upcoming projects.Fed Chair Janet Yellen is due to appear before a U.S. Senate committee on Tuesday and will...

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>Kuka is the biggest German industrial technology company to be targeted by a Chinese buyer in a wave of deals over recent months and the bid caused a stir among German politicians.Loh, who owns German manufacturer Rittal and controls 10 percent of Kuka via his investment company Swoctem, ruled...

>CARACAS Venezuelan opposition sympathizers lined up on Monday around the country to validate signatures as part of a painstaking process to request a recall referendum against President Nicolas Maduro, who is deeply unpopular due to the country's economic crisis. The elections council has required that those who signed for a...

>AMMAN The Islamic State group launched a counter attack against fighters trying to capture the Syrian city of Manbij on Monday, inflicting heavy casualties on the U.S.-backed forces, the Syrian Observatory for Human Rights and the militants said.The monitor said the ultra-hard line militants won back three...

>NEW YORK Wall Street analysts who cover big banks will endure a long night on Thursday, when a barrage of data will show how well the largest U.S. financial institutions can stand up under stress.The crunch will start at 4:30 p.m. EDT when the U.S. Federal...

>WASHINGTON The U.S. Supreme Court agreed on Monday to review a lower court decision that invalidated part of a former U.S. labor board official’s tenure, in a case that could curb the next president’s power to staff top positions in his or her administration.The justices will hear...

>In that attack a man with a machine gun wounded two people on the train before being overpowered by passengers. The new detentions add to a string of police raids on homes over the weekend after which three men were charged with plotting an attack.Prosecutors said that a judge...

>WASHINGTON Regulators may hurt the economy and push borrowers toward non-bank lenders if they set too-high capital standards for Wall Street, Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, said on Monday.The U.S. banking system needs deep reform to prevent a repeat of the 2008 financial...

>The business is expected to generate between $110 million and $125 million of annualized revenue and immediately add to earnings, OpenText said on Monday. (Reporting by Vishaka George in Bengaluru; Editing by Anil D'Silva)...

>“The Donald J. Trump Campaign for President, which has set a historic record in the Republican primary having received almost 14 million votes, has today announced that Corey Lewandowski will no longer be working with the campaign,” campaign spokeswoman Hope Hicks said in a statement provided to the newspaper. Lewandowski,...

>"When I said that if, within the Orlando club, you had some people with guns, I was obviously talking about additional guards or employees," Trump said on Twitter on Monday.Trump had said last week that he wished someone inside the Pulse nightclub in Orlando on June 12 was carrying...

>The exact terms of the proposed deal are unclear and discussions remain fluid, but one of the people said it could include a broader partnership between Wal-Mart and JD.com, according to the report. (on.wsj.com/28IQUlW)Wal-Mart took full ownership of Yihaodian, a smaller rival to Alibaba Group Holding Ltd...

>Spotify has the music streaming industry's biggest paid subscriber base, with 30 million users paying to listen, but the vast majority still tune in for free with commercial breaks.Competition is fierce with Apple Music launched just last year and already claiming 13 million paid users while Alphabet's Google competes...

>SYDNEY/SINGAPORE Craig Wright, the Australian who claimed to be the inventor of bitcoin, is attempting to build a large patent portfolio around the digital currency and technology underpinning it, according to associates of his and documents reviewed by Reuters.Since February, Wright has filed more than 50 patent applications in...

>LONDON Britons will shape the future of the United Kingdom and Europe on Thursday when they decide whether to stay in the European Union following a campaign that has shown the potency of anti-establishment feeling in the West.The vote comes a week after the murder of a lawmaker in...

>Members of the 1.1 million group, who identify themselves by the term "Rohingya" and live in apartheid-like conditions, are seen by many Myanmar Buddhists as illegal immigrants from Bangladesh. The term is a divisive issue.The U.N. human rights investigator, Yanghee Lee, met Suu Kyi in the capital...

>NEW YORK After dropping more than $200 billion in market capitalization in one year, Apple shares could fall further as they are set to lose their weighting and be reclassified in the annual reconstitution of the widely followed Russell indexes. When all is said and done, about $1.3 billion...

>Wall Street opened sharply higher on Monday, with the S&P and the Dow recovering last week's losses, after polls over the weekend showed an increased possibility of Britain remaining in the European Union. Global markets went into a tizzy last week as investors unsure over the fallout of Britain's vote...

>WILMINGTON, Del. Dallas billionaire Kelcy Warren will head to court on Monday to defend against allegations his pipeline company, Energy Transfer Equity LP (ETE.N), has purposely tried to scuttle a proposed $20 billion deal for rival Williams Cos Inc (WMB.N).The two-day trial comes just days before Williams...

>PayRock has current production of about 9,000 net barrels of oil equivalent per day in Oklahoma. A portfolio company of EnCap Investments, PayRock focuses on Oklahoma and Kansas. (Reporting by Arathy S Nair in Bengaluru; Editing by Sriraj Kalluvila)...

>Lithuania, Latvia and Estonia see themselves in the frontline of any potential conflict with Russia and are putting their armies on a war footing. NATO is planning a new NATO force in Poland and the three Baltic nations. The four battalions, of up to 1,000 troops each, are part of...

>TOKYO Bank of Japan Governor Haruhiko Kuroda acknowledged for the first time that the central bank failed to hit its inflation target in the two-year timeframe set in 2013, underscoring the challenges of eradicating the country's sticky deflationary mindset.He also said responding to deflationary pressures and firmly stabilizing inflation...

>"Key reform decisions were taken at a high level meeting chaired by the PM, which makes India the most open economy in the world for FDI," Modi said in a tweet. In a second tweet, he said the changes would provide a "major impetus to employment and job creation in...

>Britons will cast their votes on Thursday in a referendum on whether to quit the 28-member bloc, a choice with far-reaching economic and political consequences for Britain and the rest of the continent.Sayeeda Warsi, a former minister and co-chair of the ruling Conservative Party, accused "Leave" campaigners of wrongly...

>GENEVA A record 65.3 million people were uprooted worldwide last year, many of them fleeing wars only to face walls, tougher laws and xenophobia as they reach borders, the United Nations refugee agency said on Monday.The figure, which jumped from 59.5 million in 2014 and by 50...

>TOKYO The International Monetary Fund on Monday said the Japanese government's quest to revitalize its economy faces a long slog in the absence of 'bold' structural reforms, and urged Tokyo to move income policies and labor market reform to the forefront.The global lender called for a more flexible monetary...

>The referendum on Thursday could also lead to financial market instability but the ECB will act to reduce market volatility as it has "done many times in the past," Makuch, who is also Slovakia's central bank chief, told reporters.Financial markets around the world are on edge ahead of the...