Reuters: Business News
- California governor rejects PG&E bankruptcy reorganization plan December 14, 2019California Governor Gavin Newsom on Friday rejected a bankruptcy reorganization plan submitted by PG&E Corp , the state's largest investor-owned utility, saying its proposal fails to meet the requirements of a recently enacted wildfire law.
- What's in the U.S.-China 'phase one' trade deal December 14, 2019The United States and China have agreed on the terms of a "phase one" trade deal that reduces some U.S. tariffs on Chinese goods while boosting Chinese purchases of American farm, energy and manufactured goods and addressing some U.S. complaints about intellectual property practices.
- U.S.-China trade deal cuts tariffs for Beijing promise of big farm purchases December 14, 2019The United States and China cooled their trade war on Friday, announcing a "Phase one" agreement that reduces some U.S. tariffs in exchange for what U.S. officials said would be a big jump in Chinese purchases of American farm products and other goods.
- Factbox: A lot of soy, a little rice - China's historical U.S. agricultural purchases December 14, 2019The U.S. government said on Friday China would buy an additional $32 billion in U.S. farm goods over the next two years as part of an initial trade deal.
- Bristol-Myers wins $752 million in U.S. patent case against Gilead December 14, 2019Bristol-Myers Squibb Co on Friday said it won a $752 million jury verdict against Gilead Sciences Inc in a U.S. patent dispute relating to technology for treating cancer.
- China to target around 6% growth in 2020, step up state spending: sources December 14, 2019China plans to set a lower economic growth target of around 6% in 2020 from this year's 6-6.5%, relying on increased state infrastructure spending to ward off a sharper slowdown, policy sources said.
- U.S. Justice Department preparing legal action against Live Nation: source December 14, 2019The U.S. Justice Department is preparing to take legal action against Live Nation Entertainment on allegations the concert promoter has sought to strong-arm concert venues into using its dominant Ticketmaster subsidiary, a source familiar with the planned legal action said on Friday.
- USTR files notice suspending Dec. 15 tariffs on Chinese goods December 14, 2019The U.S. Trade Representative's office on Friday filed a Federal Register notice suspending the 15% U.S. tariffs slated to go into effect on Sunday on Chinese goods worth about $160 billion after reaching a "phase one" trade deal with Beijing.
- China's Ant Financial, Vanguard announce China advisory venture December 14, 2019Chinese fintech company Ant Financial Services [ANTFIN.UL] and U.S. asset management firm The Vanguard Group have established a joint venture to provide retail investment advisory services in China, the companies said in a statement on Saturday.
- Take Five: What's the deal? December 14, 2019U.S. President Donald Trump and Chinese officials have agreed to a "phase one" trade deal that includes cutting U.S. tariffs on Chinese goods.
- Trade deal removes major hurdle for rally in Apple and tech December 14, 2019U.S. President Donald Trump's limited trade deal with China removes a major hurdle for Apple and other technology stocks that have already surged this year to record highs.
- Exclusive: Hudson's Bay's take-private deal falls short - sources December 14, 2019Saks Fifth Avenue owner Hudson's Bay Co has fallen short of securing enough shareholder support for a C$1.9 billion($1.4 billion) deal to take the department store operator private, people familiar with the matter said on Friday.
- Canadian regulator dismisses Catalyst request for cease trade order on Hudson's take private deal December 14, 2019Canadian financial regulator the Ontario Securities Commission said on Friday it has dismissed a request by Catalyst for a cease trade order relating to proposed take-private deal of Hudson's Bay .
- U.S. agency probes 12th Tesla crash tied to possible Autopilot use December 13, 2019The U.S. auto safety agency said Friday it will investigate a 12th Tesla crash that may be tied to the vehicle's advanced Autopilot driver assistance system after a Tesla Model 3 rear-ended a parked police car in Connecticut on Saturday.
- T-Mobile CEO takes the stand in T-Mobile/Sprint merger trial December 13, 2019T-Mobile US Inc Chief Executive John Legere testified on Friday that he believes U.S. regulators considered Dish Network's history of attempting to build a wireless network when they approved the merger between T-Mobile and Sprint Corp.
- Uber submits appeal to regain London taxi license December 13, 2019Uber submitted an appeal on Friday against a decision by London's transport regulator to strip the taxi app of its right to operate in one its most important markets, setting up a potentially lengthy legal process during which it can continue to take rides.
- Bankrupt Philadelphia refinery expects second insurance payment December 13, 2019Insurers of Philadelphia Energy Solutions (PES) have indicated they will make a second payment of $15 million from its property policy in connection to the June fire and subsequent shutdown of the plant, court documents showed.
- U.S. prosecutor calls on UAW to cooperate, probe may widen December 13, 2019The U.S. Attorney leading the investigation of corruption within the United Auto Workers (UAW) told Reuters on Friday the union's leadership still is not fully cooperating with the government, but that individuals are giving federal investigators tips that could expand the probe.
- Facebook, privacy activist Schrems battle nears end on Dec. 19 December 13, 2019Austrian privacy activist Max Schrems' seven-year battle against Facebook reaches a crucial point on Dec. 17 when an adviser to Europe's top court will issue his view on whether tools used by companies to transfer data abroad are legal or not.
- Google, Apple asked if apps like TikTok must disclose foreign ties December 13, 2019The chair of a U.S. congressional panel wrote to Alphabet's Google and to Apple on Friday to ask what if any disclosures mobile apps are required to make regarding overseas ties, a concern that follows reports of Chinese investment in popular apps such as TikTok and Grindr.