Tech stocks tumble, taking down Nasdaq as big names sink
NEW YORK (Reuters) – Technology stocks sold off sharply on Friday, taking a toll on the Nasdaq and dragging on other major Wall Street indexes, which touched record highs earlier in the day.
Born-again BlackBerry: Canadian icon hopes to ride trucks to growth
BOLTON, Ontario (Reuters) – A visit to trucking firm Titanium Transportation helps explain why BlackBerry’s stock is once again a darling in Canadian markets, having soared 70 percent in two months.
Oil comeback for cut-exempt producers threatens to swamp OPEC
LONDON (Reuters) – OPEC’s battle against an oil glut is under threat as unsold crude from members Nigeria and Libya, which are exempt from a global production-cutting deal, is swamping the Atlantic Basin.
Toshiba says Western Digital meeting didn’t dispel concerns over chip proposal
TOKYO (Reuters) – Toshiba Corp said that Western Digital Corp CEO Steve Milligan met with its executives on Friday but failed to dispel concerns about the U.S. firm’s proposal to buy Toshiba’s prized chip unit.
Johnson & Johnson expects to complete Actelion purchase on June 16
ZURICH (Reuters) – Johnson & Johnson said the approval of its proposed acquisition of Swiss biotech firm Actelion by the European Commission on Friday meant all regulatory approvals required to complete the $30 billion deal had now been received.
GM confident of India dealer settlement though half object to terms: sources
NEW DELHI (Reuters) – General Motors Co is confident of reaching a settlement with dealers in India before halting sales in the country even though half say the compensation on offer is too low, people familiar with the matter said after the first rou…
Airbus predicts $5.3 trillion jet demand, trims traffic outlook
TOULOUSE, France (Reuters) – Airbus raised its forecast for deliveries by 6 percent to 34,899 aircraft worth $5.3 trillion over the next 20 years, creating jobs for more than a million pilots and technicians as China surges past the United States to …
Hong Kong, Singapore rivalry hobbling Asia in $100 billion fintech race: lobby group
HONG KONG (Reuters) – Asia’s competitiveness in fintech is being undermined by the rivalry among the region’s financial centers that has created regulatory complexity and uncertainty, a financial lobby group has warned.
Firms see big bucks in upgrade of U.S. air traffic control system
SEATTLE (Reuters) – Inside the control tower at John F. Kennedy International Airport, air traffic controllers can track planes traveling hundreds of miles away.
Mexico sugar deal hard to swallow for last U.S. candy cane maker
NEW YORK (Reuters) – For the last U.S.-based manufacturer of the red and white striped candy cane that is a ubiquitous North American holiday season treat, the sugar supply deal struck between Mexico and Washington is anything but sweet.
