Business

Trump tells France’s Macron U.S. concerned with proposed digital services tax

Editorial Bureau July 20, 2019

WASHINGTON  – U.S. President Donald Trump spoke with French President Emmanuel Macron on Friday and expressed concerns about the country’s proposed digital services tax, the White House said. The two leaders also discussed ongoing efforts to ensure Iran does not obtain a nuclear

Business

WeWork to host Wall Street analyst day in IPO push – sources

Editorial Bureau July 20, 2019

NEW YORK  – The We Company, parent of shared office space manager WeWork, plans to host an analyst day for Wall Street banks on July 31, as the company steps up its preparations for an initial public offering (IPO), people familiar with the matter said. WeWork’s decision to host the event at this stage is […]

Business

American Airlines-Qantas joint venture wins final U.S. approval

Editorial Bureau July 20, 2019

WASHINGTON (Reuters) – The U.S. Department of Transportation (DOT) on Friday granted American Airlines Group Inc and Qantas Airways Ltd final approval to operate a joint venture after a prior effort was rejected in 2016. The department last month had issued an order tentatively approving the agreement and granting antitrust immunity to the airlines covering […]

Business

Oyo founder to buy back $2 billion worth stake in SoftBank-backed Indian co

Editorial Bureau July 19, 2019

BENGALURU (Reuters) – Indian hospitality startup Oyo Founder Ritesh Agarwal raised his stake in the company with a $2 billion buyback, in a move that will bring his ownership closer to biggest investor SoftBank Corp. The fresh investment round will take Agarwal’s stake to around 30% from 10%, a source familiar with the development said. […]

Business

Britain’s delay on Huawei 5G decision harming international ties – UK lawmakers

Editorial Bureau July 19, 2019

LONDON (Reuters) – Britain’s new prime minister must urgently make a decision on the role China’s Huawei will have in next-generation 5G networks as the ongoing debate is damaging international relations, a powerful committee of British lawmakers said on Friday. Britain has emerged as a key battleground in a geopolitical battle over Huawei Technologies,

Business

Merkel- Weaker economy gives us reason to try to stimulate domestic economy

Editorial Bureau July 19, 2019

BERLIN (Reuters) – German Chancellor Angela Merkel said on Friday that Europe’s largest economy was in a “somewhat more difficult phase” after a decade of growth, adding that gave grounds to try to stimulate the domestic economy. “That is for us an incentive not just to continue work in the area of research and development […]

Business

Charity shops, antiques behind surprise UK retail sales jump in June

Editorial Bureau July 18, 2019

LONDON (Reuters) – British retail sales rebounded unexpectedly in June, driven by sales of antiques and second-hand clothes, raising hopes that a downturn in the second quarter could be softer than previously expected. Sterling jumped to a day’s high against the dollar after the figures showed monthly retail sales volumes jumped 1.0%, well above all […]

Business

Vodafone wins EU approval for Liberty Global deal

Editorial Bureau July 18, 2019

BRUSSELS (Reuters) – Vodafone secured on Thursday antitrust approval from the European Union for its $22 billion (17.63 billion pounds) bid to buy Liberty Global’s cable networks in Germany and central Europe after offering concessions in May. The European Commission said in a statement that the approval was “conditional on full compliance with a

Business

Novartis raises full-year targets, aims to settle U.S. lawsuit

Editorial Bureau July 18, 2019

ZURICH (Reuters) – Novartis boss Vas Narasimhan raised full-year targets on Thursday and announced that $700 million has been set aside in the hope of settling a decade-old lawsuit alleging that the Swiss drugmaker bribed U.S. doctors. Shares in the company rose about 5% to their highest since 2015, buoyed by second-quarter results, earnings guidance […]

Business

Worried UK employers call for changes to proposed immigration reform

Editorial Bureau July 17, 2019

LONDON (Reuters) – A coalition of British industry groups and education bodies, worried by the prospect of Brexit worsening skills and labour shortages, has called for the next prime minister to relax proposed reforms of the immigration system. The #FullStrength campaign said on Wednesday it had written to both Boris Johnson, frontrunner to be the […]