Brazil’s Oi mulls increasing size of capital plan, paper reports
SAO PAULO (Reuters) – Management at Oi SA will propose that the board of the debt-laden Brazilian phone carrier increase a planned capital injection to 9 billion reais ($2.8 billion) in an effort to emerge from bankruptcy protection faster, O Estado d…
Trump’s tax plan to propose deep U.S. rate cuts, lacks revenue details
WASHINGTON (Reuters) – U.S. President Donald Trump will call on Wednesday for slashing tax rates on businesses and the wealthy as part of a new tax plan that is likely to offer few details about how to pay for the cuts without expanding the federal def…
Special Report: Drowning in grain – How Big Ag sowed seeds of a profit-slashing glut
CARMAN, Manitoba (Reuters) – On Canada’s fertile Prairies, dominated by the yellows and golds of canola and wheat, summers are too short to grow corn on a major scale.
France backs Siemens-Alstom rail deal despite job fears
PARIS (Reuters) – The French government said on Wednesday that combining the rail operations of Germany’s Siemens AG with Alstom would preserve “strategic interests” amid fears over job cuts.
SK Hynix set to invest in Toshiba chip unit, details consortium’s plans
SEOUL/TOKYO (Reuters) – South Korea’s SK Hynix Inc said on Wednesday its board had approved its participation in a Bain Capital-led consortium that plans to purchase Toshiba Corp’s memory chip unit for 2 trillion yen ($17.7 billion).
Yellen lifts dollar as global markets await Trump tax plan
LONDON (Reuters) – Growing expectations that the U.S. Federal Reserve will raise interest rates for the third time this year lifted the dollar on Wednesday, and European share prices rose as U.S. President Donald Trump’s administration prepared to outl…
EU regulators fine Scania 880 million euros for truckmakers cartel
BRUSSELS (Reuters) – EU antitrust regulators fined German carmaker Volkswagen unit Scania 880 million euros ($1.03 billion) on Wednesday for taking part in a truckmakers cartel which resulted in a record 2.9-billion-euro fine for four companies in July…
Siemens CEO says picked Alstom for financial strength, CEO
FRANKFURT (Reuters) – German industrial group Siemens chose France’s Alstom over Canada’s Bombardier for a rail joint venture because of its sound finances and its management team, Siemens Chief Executive Joe Kaeser said on Wednesday.
Uber defends business model at UK tribunal on worker rights
LONDON (Reuters) – Uber told a British employment appeal tribunal on Wednesday its drivers were self-employed, not workers entitled to a range of benefits, less than a week after it heard it would lose its London license.
Yellen lifts dollar as markets await Trump tax plan
LONDON (Reuters) – Rising expectations the U.S. Federal Reserve will raise interest rates for the third time this year lifted the dollar on Wednesday and share prices rose as President Donald Trump’s administration prepared to outline a new tax plan.
