News Archive - 7 December 2016

>Imports expanded 6.7 percent from a year earlier, easily eclipsing economists' expectations for a drop of 1.3 percent and its strongest gain since September 2014, official data showed on Thursday.Exports rose 0.1 percent from a year earlier, defying predictions for a 5 percent slide.That left...

>Trump has threatened to renegotiate or withdraw from the North American Free Trade Agreement (NAFTA), prompting concern in Mexico about the future of the economy, trade and foreign investment. During a two-day meeting in Mexico City, the executives agreed to share data on trade, including the geographic areas where exports...

>WASHINGTON Koch Industries, the private conglomerate owned by billionaire conservatives Charles and David Koch, warned on Wednesday that a Republican tax reform proposal meant to encourage U.S. exports could have devastating effects on the economy and consumers.The proposal, known as border adjustability, is part of a larger tax...

>The U.S. Senate voted overwhelmingly on Wednesday to support sweeping legislation that will reshape the way the Food and Drug Administration approves new medicines. It will also provide funding for cancer and Alzheimer's research, help fight the opioid epidemic, expand access to mental health treatment and advance research into...

>KABUL Afghan and American officials are increasingly worried that any deepening of ties between Russia and Taliban militants fighting to topple the government in Kabul could complicate an already precarious security situation.Russian officials have denied they provide aid to the insurgents, who are contesting large swathes of territory and...

>SEOUL Oil prices edged up on Thursday, supported by a weaker dollar ahead of next week's Federal Reserve meeting and by a drawdown in U.S. crude stocks. International Brent crude futures were trading up 18 cents, or 0.34 percent, at $53.18 a barrel at 0116 GMT.U.

>WASHINGTON U.S. Republican senators are leaning towards a plan to delay the effective date of an Obamacare repeal for three years, a senior Republican said on Wednesday.But some conservatives in the House of Representatives think that is too long to wait for the end of the Affordable Care...

>HAVANA Cuba said on Wednesday it hoped to sign off on at least half a dozen agreements with the United States before businessman Donald Trump, who has threatened to derail detente between the former Cold War foes, becomes president on Jan. 20.Cuban and U.S. officials held talks in...

>SINGAPORE The euro held firm near a three-week high versus the dollar on Thursday, as investors turned their attention to the European Central Bank's policy meeting later in the day, and as the greenback was dragged down by a drop in U.S. bond yields.The euro has been the...

>TOKYO Japan's Cabinet Office slashed its economic growth reading for July-September on Thursday, revising down initial estimates of capital expenditure and inventories - renewing concerns about Japan's growth prospects.The Cabinet Office said the economy grew at a 1.3 percent annualized rate in July-September, a severe revision from the...

>SYDNEY Asian shares hopped higher on Thursday after Wall Street strode to new records and bonds rallied on wagers the European Central Bank would extend its asset buying campaign at a policy meeting later in the session.Australian stocks led the way with a rise of 0.9 in early...

>WASHINGTON U.S. President-elect Donald Trump said on Wednesday he will nominate professional wrestling magnate and former Senate candidate Linda McMahon as his choice to head the Small Business Administration.Trump's announcement said McMahon would be a key player in his effort to generate stronger job growth and roll back...

>NEW YORK U.S.-based Circle Internet Financial Ltd, a social payments app backed by Goldman Sachs, said on Wednesday it will no longer allow customers to buy and sell bitcoin because it has failed to become a meaningful part of its business."Using bitcoin for speculative trading or people...

>"I'm more than happy to bring back the employees that we were forced to lay off during the depressing period,"Longhi said in an interview on CNBC.U.S. President-elect Donald Trump emphasized his desire to renegotiate trade deals and restore jobs during his election campaign.U.S. Steel has cut...

>TOKYO Corporate Japan is bracing for a rocky ride under incoming U.S. President Donald Trump, a Reuters poll showed, with well over a third of firms seeing a contraction in global trade as concerns about a rise in U.S. protectionism threaten to shatter a fragile economic recovery. Fully...

>Turner Broadcasting System Inc will create more video content for mobile app Snapchat and collaborate with the social media company on advertising, Turner said on Wednesday, as they expand a partnership to broaden their reach among millennials.TV networks of the Time Warner Inc unit, including TBS and Adult Swim,...

>WASHINGTON U.S. President-Elect Donald Trump will pick an ardent opponent of President Barack Obama's measures to stem climate change to head the Environmental Protection Agency, a Trump transition team source said on Wednesday.Trump's choice, Oklahoma Attorney General Scott Pruitt, has enraged environmental activists, but he fits with the...

>WASHINGTON A U.S. bank regulator is ready to fail Wells Fargo on a national scorecard for community lending, sources familiar with the decision said on Wednesday, in a move that could limit near-term expansion for the bank.Wells Fargo is due to be deemed a bank that "needs to...

>A U.S. federal judge in Michigan has set a hearing for Wednesday morning to reconsider an order he issued on Sunday to accelerate the presidential vote recount requested by Green Party candidate Jill Stein, according to officials. The hearing comes a day after contradictory court orders were issued relating...

>NEW YORK President-elect Donald Trump on Wednesday took aim at drugmakers, promising in a magazine interview that "I'm going to bring down drug prices," and shares of U.S. pharmaceutical and biotechnology companies fell. In a cover story for Time magazine, which named him its Person of the Year, Trump...

>and "reshape the competitive landscape.""By owning Time Warner content, we will be able to innovate more quickly, experiment more readily, tweak our offerings as we gauge customer response and bring consumers the options they seek," Stephenson said at a Senate hearing. Senator Mike Lee, a Republican who chairs the...

>WASHINGTON President-elect Donald Trump on Wednesday picked a fossil fuel industry defender as his top environmental official, another retired general as homeland security chief and Iowa's governor as U.S. ambassador to China in choices at odds with some of his recent pronouncements.Trump, continuing to build his Cabinet as...

>The strategy could give Pandora leverage if Sirius XM pursues serious negotiations about a deal, CNBC said, citing the sources. (cnb.cx/2gClAYl)Pandora spokeswoman Stephanie Barnes declined to comment. CNBC had first reported last week that Pandora was open to selling itself and willing to engage with Sirius XM. (Reporting by...

>Pebble, which began as a crowdfunded project in 2012 and raised more than $10 million in a Kickstarter campaign, was one of the first companies to make smartwatches that used electronic ink displays and connected to smartphones. The financial terms of the deal were not disclosed, although Bloomberg had earlier...

>In a statement on its website, the U.S. Treasury Department said it had added Al-Hasan Ali Ali Abkar, Abdallah Faysal Sadiq al-Ahdal and the Rahmah Charitable Organization to its sanctions list. (Reporting by Timothy Ahmann; Editing by David Alxander)...

>Pokemon Go players can go to Sprint, Boost and Sprint at RadioShack locations to recharge phones, get data plans, collect in-game items, including Poke balls and eggs, and battle with their favorite characters.The blockbuster game developed by Niantic, in which Japan's Nintendo Co has a large stake, uses augmented...

>NEW YORK The U.S. stock market's bull run since 2009 will extend into 2017 if President-elect Donald Trump's plans to stimulate the economy with infrastructure spending and financial deregulation come to pass, according to strategists in a Reuters poll. But limiting the enthusiasm are threats by Trump to consider...

>Linde also said after a meeting of its supervisory board on Wednesday that its Chief Executive Wolfgang Buechele will step down and will be replaced by Aldo Ernesto Belloni, effective Thursday.The failure of initial merger talks in September already led to changes at the top at Linde, with finance...

>"It’s hard to measure the scale of his disruption," Time said in its announcement on Wednesday, noting Trump's eclectic career as real estate magnate and reality television star before winning the highest office in the land. "For those who believe this is all for the better, Trump’s victory represents a...

>FRANKFURT Italy's healthcare group Bracco is working on a potential bid for the radiology supplies unit that Germany's Bayer AG (BAYGn.DE) wants to sell, people close to the matter said. Bracco has mandated an investment bank to find a partner for a possible joint offer for the unit, which...

>Speaking at a party conference of Chancellor Angela Merkel's Christian Democrats (CDU) in Essen, western Germany, Volker Kauder suggested politicians were running out of patience with efforts by social media providers to crack down on hate speech. "I expect from big companies like Facebook that they adhere to laws. If...

>The PlayStation 4, which went on sale in late 2013, has been Sony's fastest-selling game console. (Reporting by Makiko Yamazaki; editing by Jason Neely)...

>BEIRUT Syrian rebels in besieged eastern Aleppo called on Wednesday for an immediate five-day ceasefire and the evacuation of civilians and wounded, but gave no indication they were ready to withdraw as demanded by Damascus and Moscow.The Syrian army and allied forces have made rapid gains against insurgents in...

>The Washington-based industry group said 30-year fixed-rate conforming mortgages averaged 4.27 percent, which was the highest level since October 2014. The average rate on 30-year conforming loans with balances of $417,000 or less, which mortgage agencies Fannie Mae and Freddie Mac guarantee (FNMA.PK) (FMCC.PK), was 4.23...

>BAGHDAD/ERBIL, Iraq In the early days of the assault on Islamic State in Mosul, Iran successfully pressed Iraq to change its battle plan and seal off the city, an intervention which has since shaped the tortuous course of the conflict, sources briefed on the plan say.The original campaign strategy...

>Trump said he spoke with the head of Boeing on Tuesday about the cost of its work regarding new presidential planes, and "we're going to work it out." He added: "That's what I'm here for. I'm going to negotiate prices."Trump added that markets should welcome his actions. "I...

>U.S. stock index futures rose for the third straight day, as investors continued to bet on a post-election rally that has powered major Wall Street indexes to a series of record highs.President-elect Donald Trump's proposals to boost infrastructure spending and simplify regulations have boosted financials and industrial stocks...

>"If we develop poorly and our share price falls significantly I expect that Foxconn will do a full takeover," weekly magazine WirtschaftsWoche quoted Hannes Niederhauser as saying in an interview in its BoersenWoche newsletter. Foxconn unit Ennoconn raised its holding in S&T to 29.4 percent in a capital increase...

>With much infrastructure in the United States in bad shape, increased spending could be good even if the details in Trump's plans were "not so impressive", he said."But then also reducing taxes, I mean that is going to lead to all sorts of budgetary problems in the future," Hart...

>TOKYO Japan's Sony Corp (6758.T) will release as many as six smartphone games in the next financial year, hoping that its own gaming franchises can replicate the success of console rival Nintendo Co's (7974.T) Pokemon GO.The upcoming titles will free up some of Sony's popular gaming franchises,...

>Geo News and Dawn News channels both reported 47 people were on board of the missing aircraft. A PIA spokesman could not be reached for comment. Geo News, citing civil aviation sources, said the plane lost contact with civil aviation authority at around 4.30 p.m. (1130 GMT) (Reporting...

>Kremlin spokesman Dmitry Peskov told reporters on a conference call that Russian and U.S. experts were in contact about Syria, but said he was not aware of any talks being planned at a higher level."As regards the exit of rebels ... there was a proposal for an exit and...

>Staples' European unit consists of retail, contract, and online businesses in 16 countries, generating aggregate annual sales of about 1.7 billion euros ($1.82 billion).Staples will retain a 15 percent stake in the business, the company said on Wednesday. Financial terms of the deal were not disclosed.The...

>LONDON These days the average researcher at Philips (PHG.AS) is more likely to be a software developer than an product engineer, reflecting a transformation at the former Dutch conglomerate that its chief executive says will gather pace."It's a huge shift," Frans van Houten told Reuters, noting that around...

>Miftah Magariaf, head of the Petrol Facilities Guard in the area, said "terrorist groups" had launched rocket attacks as they advanced, but that eastern security forces were ready to defend the oil ports. Earlier, security officials said that eastern forces, who seized the oil ports from a rival faction in...

>Russian Energy Minister Alexander Novak is expected to meet oil firms on Wednesday and a meeting between President Vladimir Putin and Russian oil executives is scheduled for Dec. 19. Peskov also reiterated that the government still expected to receive proceeds from a Rosneft stake sale by Dec. 15, 2016. (Writing...

>LONDON While the British government tries to prevent parliament voting on its plan to trigger the country's exit from the European Union, Reuters research indicates the lower house would in fact support its move, based on lawmakers' recent statements.Prime Minister Theresa May has said she aims to launch the...

>The sale, which Solvay said represented a multiple of seven times core profit (EBITDA), will generate a capital gain of 150 million euros and help to reduce its debt level. The deal is expected to be completed in the first half of 2017."Acetow is a commodity business that is...