SAP to cut 2,250 posts while creating similar number in refocusing
FRANKFURT (Reuters) – Business software maker SAP SE will cut about 2,250 posts, or around 3 percent of its global workforce, while creating a similar number in expanding parts of the company, as it accelerates a push to sell its products via the Inter…
Uber halts low-cost ride service in Seoul, seeks to avoid ban
SEOUL (Reuters) – Online taxi service provider Uber Technologies Inc said on Friday it would suspend its low-cost uberX ride service in South Korea, in another concession by the U.S.-based firm trying to avoid a total ban in Asia’s fourth-largest econo…
Fed should not be too patient on rate hikes, Williams says
HONOLULU (Reuters) – Federal Reserve policymakers should not wait too long to raise interest rates, a top U.S. central banker said on Thursday, because doing so could mean “drastically” overshooting on inflation and forcing the Fed to hike rates dramat…
U.S. banks pass Fed capital test, trading books hurt
WASHINGTON/NEW YORK (Reuters) – All 31 U.S. banks passed a test of how they would do in a next economic crisis, the Federal Reserve said on Thursday, but those with large trading books came out weak because of new elements in the check-up.
NHTSA could tap unexercised authority to speed Takata recalls
WASHINGTON (Reuters) – U.S. auto safety regulators are considering unprecedented steps to speed up the replacement of potentially deadly Takata Corp air bags in millions of cars that remain on American roads despite massive recalls initiated by automak…
Volkswagen to announce $1 billion investment in Mexico: source
MEXICO CITY (Reuters) – German carmaker Volkswagen will next week announce an investment worth around $1 billion in Mexico to expand its Puebla plant, a person familiar with the matter said on Thursday.
U.S. banks pass Fed capital test, trading books hurt
WASHINGTON/NEW YORK (Reuters) – All 31 U.S. banks passed a test of how they would do in a next economic crisis, the Federal Reserve said on Thursday, but those with large trading books came out weak because of new elements in the check-up.
AbbVie boosts cancer drug pipeline with $21 billion Pharmacyclics deal
(Reuters) – AbbVie Inc is to buy Pharmacyclics Inc for about $21 billion, giving it access to what is expected to be one of the world’s top-selling cancer drugs and expanding its reach in the profitable oncology field.
Oil falls in volatile trade on supply worries, dollar and Iran
NEW YORK (Reuters) – Oil closed lower on Thursday in volatile trade, as a soaring dollar and the U.S. pursuit of an Iranian nuclear deal offset earlier gains from supply concerns in Libya and Iraq.
Wall Street closes up slightly ahead of jobs report
NEW YORK (Reuters) – U.S. stocks closed modestly higher in light trading on Thursday as investors held back on big bets ahead of Friday’s jobs report, which is expected to be a big factor in influencing the timing of a Federal Reserve interest rate hik…
