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Foxconn lowering offer for Japan’s Sharp: Yomiuri
Taiwan's Foxconn is lowering an offer for loss-making Japanese electronics maker Sharp Corp from an initial plan of 489 billion yen ($4.4 billion), the Yomiuri newspaper reported on Sunday. The reason behind the move is that Foxconn appears to be concerned Read the original post: Foxconn lowering offer for Japan’s Sharp: Yomiuri Read More →
Wal-Mart Japan to focus on remodeling stores, no plans to exit market
Wal-Mart Stores expects its Japan business to focus on remodeling existing stores rather than opening new ones this year, citing fierce competition and consumer reluctance to spend freely amid uncertain economic times. Despite bold monetary and fiscal stimulus, Japan's consumer spending has been hit by a 2014 hike in the national sales … View original post here: Wal-Mart Japan to focus... [Read more]
Turning to frack tech, stricken U.S. oil drillers test new limits
Top U.S. shale producers are pushing fracking technology to new extremes to get more oil out of their wells, as they weather lower-for-longer oil prices. While the impact of the techniques may be scarcely noticeable on current U.S. output with so few wells in operation, it could mean drillers are able to accelerate production more fiercely than ever once prices recover. The hunt for the… Read... [Read more]
AT&T, Starwood, Marriott working on Cuba deals ahead of Obama visit
By Matt Spetalnick WASHINGTON (Reuters) – At least three major U.S. companies, AT&T Inc , Starwood Hotels & Resorts Worldwide Inc and Marriott International Inc , are seeking to complete deals in Cuba as President Barack Obama prepares to visit Havana, a person familiar with the discussions said on Friday. It will be the first visit to Cuba by a U.S. president in nearly 90 years. AT&T... [Read more]
Oil down on U.S. refinery maintenance, OPEC doubts
By Barani Krishnan NEW YORK (Reuters) – Oil prices fell on Thursday, with U.S. crude retreating from three-month highs as refinery maintenance threatened to further raise record U.S. inventories of crude, while sources said an OPEC production freeze meeting was unlikely without Iran's participation. Crude View post: Oil down on U.S. refinery maintenance, OPEC doubts Read More →
Loss of U.S. boss seen hitting VW turnaround, but not talks with regulators
By Andreas Cremer BERLIN (Reuters) – The departure of Volkswagen's U.S. boss is a blow to the carmaker's attempts to revive sales after its emissions test cheating scandal, but should not disrupt its efforts to strike a deal with U.S. regulators, analysts and sources told Reuters. Michael Horn, whose surprise departure from the helm of Volkswagen Group of America was announced late... [Read more]
ECB’s Draghi signals end to rate cuts, overshadows stimulus
By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) – European Central Bank chief Mario Draghi unleashed a bold easing package on Thursday, cutting rates and expanding asset buys, but undid the very stimulus he hoped to achieve by suggesting there would be no further cuts. Seeking to resurrect corporate activity and investments, the ECB said it … Read the original post: ECB’s... [Read more]
Sharp’s banks set to offer additional aid as part of Foxconn deal: source
By Taro Fuse TOKYO (Reuters) – Sharp Corp's two main banks are set to lower interest rates on billions of dollars in loans and offer other financial support as part of a planned takeover by Taiwan's Foxconn, a source with direct knowledge of the plan said. The core banking units of Mitsubishi UFJ Financial Group Inc and Mizuho Financial Group Inc have extended the vast majority of... [Read more]
Bezos’ space company aims for passenger flights in 2018
By Irene Klotz KENT, Wash. (Reuters) – Jeff Bezos' space company Blue Origin expects to begin crewed test flights of its reusable suborbital New Shepard vehicle next year and begin flying paying passengers in 2018, Bezos told reporters on Tuesday. Bezos’ remarks, made during the first ever media tour of the Blue Origin manufacturing facility, marked the first time the billionaire founder... [Read more]
Valeant sets earnings date, shares jump on hope for positive news
(Reuters) – Valeant Pharmaceuticals International Inc , the subject of intense scrutiny over its business practices and pricing policies, said it would release preliminary quarterly results and guidance on March 15, raising hopes the company will serve up some positive news after months of uncertainty. Valeant's stock – which had plunged 24 percent since the company said last week... [Read more]