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Reuters: Business News
- Southwest reaches partial compensation agreement with Boeing for MAX damages December 12, 2019Southwest Airlines Co said on Thursday it had reached a confidential compensation agreement with Boeing Co for a portion of projected financial damages arising from the grounding of its 737 MAX aircraft.
- Wall Street touches record high on trade optimism December 12, 2019U.S. stocks hit record highs on Thursday after President Donald Trump tweeted that Washington was "very close" to a trade deal with Beijing and on a report that U.S. trade negotiators had offered to cancel a new round of tariffs on Chinese goods.
- U.S. FAA says Boeing is pursuing 'unrealistic' schedule for 737 MAX return December 12, 2019Federal Aviation Administration chief Steve Dickson, who will meet with Boeing Co's chief executive later on Thursday, is concerned the U.S. airplane maker is pursuing a return-to-service schedule for the grounded 737 MAX that is "not realistic," according to an email seen by Reuters.
- Oil rises 1% on Trump's optimism for a deal with China December 12, 2019Oil prices rose more than 1% on Thursday after U.S. President Donald Trump said Washington was "very close" to nailing down a trade deal with China.
- Wall Street hits records on hopes tariffs will be dropped December 12, 2019U.S. stock indexes jumped to new highs on Thursday, and Treasury yields rose, on a tweet from President Donald Trump that a trade deal with China was "very close" and a report that U.S. trade negotiators had offered to cancel a fresh round of tariffs on Chinese goods.
- U.S. offers China tariff rate cut; announcement 'imminent' December 12, 2019The United States has offered to cut existing tariffs on Chinese goods by as much as 50% and suspend new tariffs expected to go into effect Sunday in an attempt to secure a "Phase One" trade deal.
- Saudi Aramco hits Crown Prince's $2 trillion goal despite valuation doubts December 12, 2019Saudi Aramco hit the $2 trillion target sought by de-facto Saudi leader Crown Prince Mohammed bin Salman on Thursday as its shares racked up a second day of gains, despite some scepticism about the state-owned oil firm's value.
- Saudis hail 'fortune-telling' prince for Aramco price prediction December 12, 2019Saudis took to Twitter to celebrate Aramco's valuation hitting $2 trillion on Thursday, with one posting praising de-facto leader Crown Prince Mohammed bin Salman as a fortune teller.
- Thyssenkrupp in talks with Tesla about German factory: Handelsblatt December 12, 2019Thyssenkrupp is hoping to win contracts for a planned factory Tesla plans to build near Berlin, a board member of the German conglomerate told a business daily.
- Sweden opens Ericsson bribery probe after U.S. settlement: paper December 12, 2019Sweden's prosecution authority has opened an investigation into possible bribery by employees at mobile telecoms group Ericsson that came to light during a U.S. probe into corruption, daily Dagens Industri wrote on Thursday.
- Facebook delays naming oversight board members until 2020 December 12, 2019Facebook will not announce the first members of its independent oversight board this year as it originally expected, the company said on Thursday.
- Global stock index hits record high as U.S.-China trade deal optimism climbs December 12, 2019MSCI's global stock index hit a record high on Thursday after President Donald Trump said the United States was "very close" to reaching a trade deal with China.
- IMF would welcome U.S.-China tariff cuts, but wants 'trade peace': spokesman December 12, 2019The International Monetary Fund would welcome any deal to reduce U.S.-China trade tensions and tariffs, but is urging the world's two largest economies to permanently resolve their 17-month trade war, IMF spokesman Gerry Rice said on Thursday.
- U.S. offers to cancel December 15 tariffs on Chinese goods: WSJ December 12, 2019U.S. trade negotiators have offered to cancel a new round of tariffs on imported Chinese goods set to take effect on Sunday as part of an effort to cement a phase-one deal to de-escalate the trade relationship between the two powers, the Wall Street Journal said on Thursday.
- U.S. producer prices tepid; jobless claims at more than two-year high December 12, 2019U.S. producer prices were unexpectedly unchanged in November as increases in food and gasoline prices were offset by declining costs for services, pointing to muted inflation despite a recent uptick in consumer prices.
- Cevian's Tischendorf to leave Thyssenkrupp supervisory board December 12, 2019Jens Tischendorf, a partner at activist fund Cevian, will leave the supervisory board of Thyssenkrupp after his five-year term ends next month, the ailing conglomerate said on Thursday.
- Repo is Wall Street's big year-end worry. Why? December 12, 2019The $2.2 trillion repurchase agreement market - part of the inner workings of the U.S. financial system - is facing what could be another strain as the year comes to a close. That could have wider implications than just Wall Street.
- Subaru CEO expects record U.S. sales in 2020 despite market slowdown December 12, 2019Subaru Corp expects its U.S. vehicle sales to rise to a record high in 2020, as demand for its SUV crossover models helps it buck the trend of slowing car sales in the Japanese automaker's biggest market.
- Apple's China iPhone shipments fall 35% in November: Credit Suisse December 12, 2019Apple Inc's iPhone shipments in China fell more than 35% in November, marking their second straight double-digit decline as sales of the cheaper iPhone 11 remained sluggish, brokerage Credit Suisse said on Thursday.
- U.S. weekly jobless claims race to more than two-year high December 12, 2019The number of Americans filing applications for unemployment benefits jumped to more than a two-year high last week, but that probably does not signal a pickup in layoffs as the claims data tends to be volatile in the period following the Thanksgiving Day holiday.