Reuters: Business News
- Exxon Mobil scores win in New York climate change lawsuit December 10, 2019Exxon Mobil Corp won a major victory in a closely-watched lawsuit on Tuesday when a judge ruled that the company did not defraud investors out of up to $1.6 billion by hiding the true cost of climate change regulation.
- Exxon wins climate change lawsuit, as cases over global warming proliferate December 10, 2019Exxon Mobil Corp on Tuesday scored a win in a closely-watched case after a judge ruled that the company did not hide the true cost of climate change regulation from investors.
- Netflix could lose four million U.S. subscribers in 2020: brokerage December 10, 2019Needham and Co was the fourth Wall Street brokerage in two months to cut its rating for Netflix Inc on Tuesday, arguing competition from new streaming services could lead to the loss of 4 million premium U.S. subscribers next year.
- U.S. third-quarter labor cost growth cut; productivity soft December 10, 2019Growth of U.S. labor costs was not as robust as initially thought in the third quarter, suggesting inflation could remain tame in the near term.
- Agreement reached by U.S., Canada and Mexico - again - to replace NAFTA December 10, 2019Canada, Mexico and the United States have agreed to a fresh overhaul of their quarter-century-old regional trade pact after negotiators approved changes to a preliminary deal struck last year, and officials will sign the new agreement on Tuesday.
- Pelosi: revised USMCA pact much improved from initial Trump version December 10, 2019The revised United States Mexico Canada trade agreement reached between House Democrats and the White House improves U.S. President Donald Trump's initial deal with new provisions targeting the environment and other areas, House Speaker Nancy Pelosi said on Tuesday.
- Exclusive: Malaysia's Mahathir hopeful of 1MDB settlement with Goldman soon December 10, 2019Malaysian Prime Minister Mahathir Mohamad is hopeful of reaching an out-of-court settlement with Goldman Sachs over the 1MDB scandal soon, but that compensation of "one point something billion" dollars offered by the bank was too small.
- Deutsche paints gloomy picture at investor gathering December 10, 2019Deutsche Bank pared back its revenue growth target on Tuesday, highlighting the tough task facing Germany's biggest lender to revive its fortunes against a gloomy economic backdrop.
- Boeing deliveries halved in first 11 months of 2019 December 10, 2019Boeing Co delivered less than half as many planes in the first 11 months of 2019 as in the same period a year earlier, the planemaker said on Tuesday, as it continued to struggle with the grounding of its best-selling 737 MAX jets.
- Oil rises but U.S.-China trade war weighs on demand outlook December 10, 2019Oil prices inched up on Tuesday as OPEC's deal with associated producers last week to deepen output cuts in 2020 continued to provide a floor for prices, but U.S.-China trade tensions clouded the demand outlook.
- Ryanair says European delays may mean no 737 MAX jets for next summer December 10, 2019Ryanair may not receive any 737 MAX aircraft from Boeing in time for its summer season due to European delays in testing the grounded jets, Chief Executive Michael O'Leary said.
- Wall Street edges higher on tariff delay hopes December 10, 2019Wall Street's indexes edged higher in choppy trading on Tuesday after a report that the United States and China were planning to delay a new round of tariffs set to kick in on Dec. 15.
- Bain Capital nears deal for Italian IT services firm Engineering: sources December 10, 2019Bain Capital is close to finalizing a deal for a stake in IT services provider Engineering Ingegneria Informatica that would see the U.S. investor share ownership of one of Italy's biggest technology companies, sources told Reuters.
- House Democrats claim victory in revamping U.S.-Mexico-Canada trade pact December 10, 2019U.S. House Democrats on Tuesday claimed victory in negotiating changes to a U.S.-Mexico-Canada trade agreement to ensure better protection for workers, the environment and remove key provisions that they said would have benefited big pharmaceutical companies.
- U.S. top trade official lauds USMCA as model for future trade deals December 10, 2019U.S. Trade Representative Robert Lighthizer said an historic agreement on the U.S.-Mexico-Canada trade agreement would benefit U.S. farmers, workers and ranchers for years to come.
- Stocks, government debt flat as trade deadline looms December 10, 2019Government debt and global stock markets held steady on Tuesday as uncertainty kept risk appetite in check just days ahead of a new round of U.S. tariffs on Chinese goods.
- Schlumberger CFO Simon Ayat to be replaced by Stephane Biguet December 10, 2019Schlumberger NV Chief Financial Officer Simon Ayat is stepping down after nearly 12 years in the role and will be replaced by second-in-command Stephane Biguet, the top oilfield services provider said on Tuesday.
- McDonald's could sell over 250 million Beyond Meat burgers in U.S. annually: UBS December 10, 2019McDonald's Corp is selling only 20-30 plant-based Beyond Meat burgers per day in Canadian restaurant testing, although sales are reaching 100 burgers a day in more densely populated areas in the country, industry checks by UBS showed.
- AFL-CIO labor union endorses USMCA trade deal December 10, 2019The major AFL-CIO labor union on Tuesday said it was endorsing the U.S.-Mexico-Canada trade agreement after working with lawmakers and members of President Donald Trump's administration to make changes to the proposal first introduced in 2017.
- Watches of Switzerland scopes out further acquisitions in U.S December 10, 2019Watches of Switzerland is considering buying more stores in the United States and predicted on Tuesday that luxury watch demand will hold up in the U.S. and Britain, where it has just bought four shops from Fraser Hart.