Cyclical sector rally banks on global economic expansion
NEW YORK (Reuters) – U.S. stock sectors that are particularly dependent on economic growth recently grabbed hold of the market’s rally and are poised to keep the reins should further signs of global expansion emerge.
Deutsche Boerse CEO discussed merger with Finance Minister before share purchase: report
FRANKFURT (Reuters) – The head of Deutsche Boerse met with the German government to discuss a possible merger with London Stock Exchange before he made a share purchase that sparked an insider trading investigation, according to a magazine report.
Samsung Electronics CEO Kwon announces shock resignation as profits surge
SEOUL (Reuters) – Samsung Electronics Co Ltd said on Friday its CEO and Vice Chairman Kwon Oh-hyun plans to step down from management, deepening concerns over a leadership vacuum at the tech giant after group scion Jay Y. Lee was jailed for bribery.
Dollar stays low as stocks cheer latest record streak
LONDON (Reuters) – World stocks rose for a fourth straight day on Friday on expectations of broad-based global growth, while the dollar headed for its worst week in five as investors awaited U.S. inflation data.
Amazon to open new distribution center in north west England
LONDON (Reuters) – Amazon said on Friday it planned to open a new fulfillment center in Bolton, north west England, in 2018 and will begin recruiting 1,200 permanent jobs in the latest expansion in Britain.
BASF to harvest seeds, herbicide businesses from Bayer for $7 billion
FRANKFURT (Reuters) – BASF has agreed to buy seed and herbicide businesses from Bayer for 5.9 billion euros ($7 billion) in cash, as Bayer tries to convince competition authorities to approve its planned acquisition of Monsanto.
Mercedes-Benz, China JVs to recall 351,218 vehicles: watchdog
BEIJING (Reuters) – Mercedes-Benz, the luxury brand of German carmaker Daimler AG , and its Chinese joint ventures will recall 351,218 vehicles due to potential issues with Takata Corp air bags, China’s quality watchdog said on Friday.
Brandy chases whisky in South African spirit wars
JOHANNESBURG (Reuters) – Klippies and coke. Ricky Louw. Karate Water.
Kobe Steel’s cheating engulfs more divisions; shares resume slide
TOKYO (Reuters) – Crisis-hit Kobe Steel Ltd said on Friday its steel division has also falsely labeled products, the latest in a string of revelations confirming widespread cheating at the firm that has engulfed its global customers.
BASF to buy seeds, herbicide businesses from Bayer for $7 billion
FRANKFURT (Reuters) – BASF has agreed to buy seed and herbicide businesses from Bayer for 5.9 billion euros ($7 billion) in cash, as Bayer tries to convince competition authorities to approve its planned acquisition of Monsanto .
