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Reuters: Business News
- As Fed reiterates rate pause, forecasts likely to be blown off course December 8, 2019Friday's booming U.S. jobs report should give the Federal Reserve all it needs to stick to its plan not to cut interest rates further in the near future, so when U.S. central bankers meet this week, most of the focus will be on their outlook for next year and beyond.
- U.S. banks' reluctance to lend cash may have caused repo shock: BIS December 8, 2019The unwillingness of the top four U.S. banks to lend cash combined with a burst of demand from hedge funds for secured funding could explain a recent spike in U.S. money market rates, the Bank for International Settlements said.
- Britain's Tesco considers Asia exit December 8, 2019Britain's biggest retailer, Tesco , has signaled a further retreat from its once lofty global ambitions by starting a review of its remaining Asian businesses, which could result in a sale of those Thai and Malaysian operations.
- Jeff Bezos says Amazon wants to work more with the Pentagon December 8, 2019Amazon.com Inc founder Jeff Bezos said it would support the U.S. Department of Defense as technology companies vie for more defense contracts and the Pentagon seeks to modernize itself.
- VW's German plants need to shape up, says production chief December 8, 2019Volkswagen's German plants need to boost efficiency to match overseas operations, production chief Andreas Tostmann was quoted as saying, targeting 2 billion euros ($2.2 billion) in savings by 2023.
- Japan's markets watchdog likely to recommend $22 million fine against Nissan: NHK December 8, 2019Japan's markets watchdog will likely recommend soon that the financial regulator fine Nissan Motor Co Ltd about 2.4 billion yen ($22 million) over false reporting on its financial statement, public broadcaster NHK reported on Sunday.
- China copper imports hit 13-month high in November on improved factory activity December 8, 2019China's copper imports rose 12.1% in November from the previous month to their highest in more than a year, as an unexpected improvement in the manufacturing sector drove up demand.
- China November exports fall, but import growth hints of recovering demand December 8, 2019China's exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from the Sino-U.S. war but growth in imports may be a sign that Beijing's stimulus steps are helping to stoke demand.
- China November crude oil imports hit record high as refiners race to use up quotas December 8, 2019China's crude oil imports hit a record high on a daily basis in November, as refiners operated at high run rates to use up annual import quotas.
- China November iron ore imports down for second month as top miners ship less December 8, 2019China's iron ore imports fell for a second straight month in November, customs data showed on Sunday, as lower shipments from top miners in Australia and Brazil overshadowed firm demand for the steelmaking ingredient at mills.
- China's November coal imports slump 19% month-on-month on port curbs December 8, 2019China's coal imports plunged 19% in November from the previous month as tighter import rules at ports curbed shipments towards the year's end.
- Mexico, U.S. draw closer to finalizing USMCA: source December 8, 2019U.S. and Mexican negotiators are "very close" to finalizing the United States-Mexico-Canada Agreement, a Washington-based source familiar with the talks said on Saturday, after a top Mexico official said the two sides had made progress on the trade deal.
- China's November trade surplus with U.S. at $24.60 billion vs $26.45 billion in October December 8, 2019China's trade surplus with the United States for November stood at $24.60 billion, Reuters calculation based on Chinese customs data showed on Sunday, easing from the previous month's surplus of $26.45 billion.
- Proxy adviser ISS opposes plan by Hudson's Bay chairman to take firm private December 7, 2019Institutional Shareholder Services said on Friday it recommends shareholders vote against a plan by the chairman of Hudson's Bay Co to take the Saks Fifth Avenue owner private after the bid was topped by an offer from Catalyst Capital Group Inc.
- Ericsson to pay over $1 billion to resolve U.S. corruption probes December 7, 2019Swedish mobile telecoms company Ericsson has agreed to pay over $1 billion to resolve probes into corruption, including the bribing of government officials, the U.S. Department of Justice said on Friday.
- Fiat appeals to Europe's top court against $33 million EU tax order December 7, 2019Carmaker Fiat Chrysler has lodged an appeal with Europe's top court against an EU order to pay 30 million euros ($33 million) in Luxembourg back-taxes, seeking to overturn a lower tribunal ruling backing EU antitrust regulators.
- Musk's defamation win may reset legal landscape for social media December 7, 2019((This December 6 story is refiled to fix typo in quote in paragraph nine))
- Tesla boss Elon Musk wins defamation trial over his 'pedo guy' tweet December 7, 2019Tesla Inc boss Elon Musk emerged victorious on Friday from a closely watched defamation trial as a federal court jury swiftly rejected the $190 million claim brought against him by a British cave explorer who Musk had branded a "pedo guy" on Twitter.
- Mexico official lauds progress on trade deal but says work remains December 7, 2019Mexico's deputy foreign minister for North America, Jesus Seade, said on Friday that negotiators made "good progress" to close the United States-Mexico-Canada Agreement (USMCA) trade deal, but many elements remained to be resolved.
- Mexico says 'good progress' on trade deal although work remains December 7, 2019Negotiators working to close a new North American trade deal have made "good progress" but many elements are not yet resolved, Mexico's deputy foreign minister said on Friday.