Tencent’s stellar share rally sees it surpass Facebook in market value
HONG KONG (Reuters) – Tencent Holdings Ltd has racked up some impressive gains this week – becoming the first Chinese firm to be worth more than $500 billion and surpassing Facebook to be the world’s fifth-most valuable company.
Lowe’s quarterly comp sales, profit top estimates
(Reuters) – Lowe’s Cos Inc reported higher-than-expected comp sales and profit on Tuesday, helped by lower costs as well as higher demand for emergency supplies and rebuilding material due to hurricanes battering several regions in the United States.
Indonesia court rules against Goldman in Hanson share ownership dispute
JAKARTA (Reuters) – An Indonesian court ruled on Tuesday that Goldman Sachs should return shares in property developer PT Hanson International Tbk to tycoon Benny Tjokrosaputro in a legal tussle over ownership.
Oil rises ahead of OPEC meeting as further output cuts expected
LONDON (Reuters) – Oil prices rose on Tuesday as traders looked to a meeting next week at which major crude exporters are expected to extend production cuts, though rising U.S. output capped gains.
World stocks pare gains as German political impasse hits Europe
LONDON (Reuters) – European stocks opened lower on Tuesday and the euro hit an eight-day low against sterling as a governing crisis in Germany weighed on markets.
Enel plans to spend more on modernizing mature markets
MILAN (Reuters) – Italy’s biggest utility Enel pledged to spend more upgrading its networks in mature markets, including the United States, to prepare for an era when home appliances will be hooked up to the Internet as well as on clean energy technol…
Enel shifts focus to mature markets in new plan
MILAN (Reuters) – Italy’s biggest utility Enel said in its new plan it was shifting its focus to more mature markets like Italy, Spain and the U.S., stepping up a pledge to make its networks more digital.
Asia stocks hit 10-year high on global growth optimism, dollar strong
TOKYO (Reuters) – Asian stocks rose to a 10-year high on Tuesday as investors took heart from further evidence of strength in the global economy, while the dollar hovered near a one-week high against its peers thanks to higher U.S. yields and a flounde…
NAFTA nations lock horns on U.S. auto demands as fifth round ends
MEXICO CITY (Reuters) – Negotiators from the United States, Mexico and Canada square off on Tuesday for the last time in a fifth round of talks to rework the North American Free Trade Agreement, with stalemate brewing on a contentious proposal to ramp …
Broadcom eyes big changes for Qualcomm’s patent practices
SAN FRANCISCO (Reuters) – As part of its $103 billion bid to buy Qualcomm Inc, Broadcom Ltd has hinted that it would make big changes to Qualcomm’s patent licensing business, a major cash-cow for the company but a source of bitter conflict with regulat…
