Alphabet’s Eric Schmidt to step down as executive chairman
SAN FRANCISCO (Reuters) – Alphabet Inc said on Thursday its Executive Chairman Eric Schmidt will step down in January, ending a 17-year-run in which he played a central role in building a promising startup called Google into a global technology powerh…
Exclusive: IPO hopeful Xiaomi set to blow past 2017 revenue target – sources
HONG KONG (Reuters) – Chinese smartphone maker Xiaomi Inc has told bankers it would top its annual revenue target by as much as 18 percent, sources with knowledge of the matter said, marking a comeback from a sales slump in recent years that triggered …
Big Boeing, Airbus strategies drive small plane deals
PARIS/SAO PAULO (Reuters) – Airbus and Boeing are pairing with smaller regional rivals to add sales at the lower end of their $100 billion-a-year commercial plane duopoly, but the two market leaders are also laying the foundation for a longer-term stra…
Energy and financials power Wall Street’s rise
NEW YORK (Reuters) – The three main U.S. stock indexes rose on Thursday, boosted by bank and energy stocks as investors bet on more economically sensitive sectors.
Succession doubts cloud Apotex future after billionaire owner’s death
TORONTO (Reuters) – Canadian pharmaceuticals billionaire Barry Sherman failed to implement a succession plan at his Apotex business before his death last week, two business associates told Reuters, potentially leaving it vulnerable to takeover approach…
Nike’s profit tops estimates but margins dip on weak North America demand
(Reuters) – Nike Inc’s growth in international markets helped the company’s quarterly profit and sales beat Wall Street estimates on Thursday, but a drop in gross margins indicated severe price competition in North America, its largest market.
Boeing in talks with Embraer; Brazil backs jetliner alliance
SAO PAULO/RIO DE JANEIRO (Reuters) – Planemakers Boeing Co and Embraer SA are discussing a “potential combination,” they said on Thursday, in a move that could consolidate a global passenger jet duopoly provided Brazil’s government gives its blessing…
Exclusive: Bank of America Merrill Lynch to pay $26 million for allegedly failing to report suspicious transactions
NEW YORK (TR Regulatory Intelligence) – Wall Street regulators later Thursday or early next week are expected to fine Bank of America Merrill Lynch a total of $26 million over alleged failures to report suspicious transactions, two sources familiar with the matter said.
Judge in AT&T, Time Warner merger trial to deny data protection order
WASHINGTON (Reuters) – The judge overseeing the Justice Department’s bid to stop AT&T from buying Time Warner said Thursday that he would deny a request to tighten protections on confidential data.
Goldman Sachs to set up cryptocurrency trading desk: Bloomberg
(Reuters) – Goldman Sachs Group Inc is setting up a trading desk to make markets in digital currencies like bitcoin, Bloomberg reported, citing people familiar with the matter.
