ABB rejects shareholder calls to spin off Power Grids
ZURICH (Reuters) – Swiss engineering group ABB is to keep its Power Grids business in a rejection of demands from an activist investor to spin it off and is to start a $3 billion share buy back from next year.
It’s the economy: Duterte not main cause of Philippines market selloff
SINGAPORE (Reuters) – Philippine markets have been heavily sold down since July, primarily for economic reasons, not the festering row between new President Rodrigo Duterte and traditional ally the United States over his war on drugs, money managers sa…
British PM May says Brexit timetable important for businesses
BIRMINGHAM, England (Reuters) – Prime Minister Theresa May said on Tuesday it was important to set out the timing of Britain’s exit from the European Union to reassure businesses after sterling plunged in the wake of her announcement of the deadline.
Conservative lawmakers slam German economy minister over Deutsche remarks
BERLIN (Reuters) – Conservative lawmakers lashed out at Germany’s economy minister on Tuesday for attacking Deutsche Bank’s chief executive, saying the minister’s job was to support the country’s biggest bank, not talk it down.
Ericsson slashes 3,000 jobs, 900 consultants in Sweden
STOCKHOLM (Reuters) – Swedish telecom equipment maker Ericsson , announced on Tuesday plans to slash 3,000 jobs in production, research and development and sales and some 900 consultants in Sweden.
Apple launches Apple Pay payment service in Russia
MOSCOW (Reuters) – Apple Inc launched its Apple Pay software in Russia on Tuesday as the U.S. technology firm extends the global reach of its payment service.
China September data seen tipping mild pickup in economy
BEIJING (Reuters) – A flurry of data from China in coming weeks is expected to point to modest improvement in the economy in the third quarter as a government infrastructure spree and a housing boom boosts demand from steel and glass to furniture and a…
China’s foreign trade still faces big downward pressure: Xinhua
BEIJING (Reuters) – China’s foreign trade still faces big downward pressure despite some improvement in August, Xinhua news agency reported on Tuesday, citing Shen Danyang, a spokesman for the Ministry of Commerce.
Bass Pro Shops hooks Cabela’s in $5.5 billion deal
(Reuters) – Bass Pro Shops said on Monday it will acquire Cabela’s Inc for $5.5 billion, combining two meccas for outdoor enthusiasts, even as the deal may face antitrust scrutiny given that the hunting and fishing retailers overlap in several U.S. st…
JPMorgan prepares to pull Chase ATMs from Walgreens stores
NEW YORK (Reuters) – A decade after JPMorgan Chase & Co said with great fanfare that it would make life easier for customers by putting its cash machines into Duane Reade drug stores in New York City and Walgreens stores in Florida, the big bank is retreating.
