US automakers expect a rougher ride for the rest of the year
2017-07-26 19:53:53 UTC
DETROIT (Reuters) - Ford Motor Co on Wednesday joined rival General Motors Co in reporting higher-than-expected second-quarter profits, and in the next breath warning of a rougher ride for the rest of the year.
Ford said full-year pre-tax profit, automotive operating margins and cash flow woul...
Russian cyber criminals: $4 billion bitcoin laundering ring
2017-07-26 17:56:41 UTC
ATHENS/MOSCOW/NEW YORK (Reuters) - A Russian man suspected of being the anonymous mastermind behind one of the world's oldest crypto-currency exchanges and of laundering at least $4 billion has been arrested in Greece, police and sources said on Wednesday.
Police sources identified him as Alex...
Senate advances on healthcare and votes to open debate
2017-07-26 07:17:58 UTC
WASHINGTON (Reuters) - U.S. Senate Republicans narrowly agreed to open debate on a bill to repeal Obamacare, but the party's seven-year effort to roll back President Obama's signature healthcare law still faces significant hurdles.
The Senate deadlocked 50-50 on moving forward with the hea...
Turkish Clothing Export: The Real Trade Challenge Is Germany
2017-07-25 16:58:54 UTC
ISTANBUL (Reuters) - Turkey's clothing sector, a main driver of its foreign sales, may miss this year's export target if a row with Germany is not resolved, a leading manufacturer said on Tuesday.
Despite signs of a sales turnaround to other countries, some German buyers have canceled trips to...
Toyota long-range electric car needs just minutes for charging
2017-07-25 04:21:56 UTC
TOKYO (Reuters) - Toyota Motor Corp is working on an electric car powered by a new type of battery that significantly increases driving range and reduces charging time, aiming to begin sales in 2022, the Chunichi Shimbun daily reported on Tuesday.
Toyota's new electric car, to be built on an a...
Hottest Tech startups don't need venture capital money
2017-07-24 07:00:59 UTC
NEW YORK (Reuters) - U.S. venture capital firms lining up for a slice of the burgeoning digital currency market are grappling with a novel challenge - some of the hottest tech startups that sell the coins just don't need their money.
Only a few years ago, digital currency entrepreneurs, like o...
British households' financial situation already deteriorating
2017-07-24 03:04:56 UTC
LONDON - U.S. president Donald Trump announced in June 2016, "I think Brexit is going to end up being a great thing."
Just one year after the Brexit vote, British people are more pessimistic and worried about their uncertain future.
UK households' financial situation has deteriorated at th...
Germany confronts Russia over Siemens turbines in Crimea
2017-07-23 04:38:53 UTC
<blockquote>FRANKFURT (Reuters) - Germany has warned Russia that breaches of sanctions including the relocation to Crimea of four gas turbines delivered to Russia by Siemens are straining political relations between the two countries, 'Bild am Sonntag' reported on Sunday.
Crimea is subject to ...
EU warns of 'unintended consequences' on Russia sanctions
2017-07-22 20:26:27 UTC
BRUSSELS (Reuters) - The European Union sounded an alarm on Saturday about moves in the U.S. Congress to step up U.S. sanctions on Russia, urging Washington to keep coordinating with its G7 partners and warning of unintended consequences.
In a statement by a spokeswoman after Republicans and D...
Solid European economic outlook kept euro strong against dollar
2017-07-21 04:12:59 UTC
TOKYO (Reuters) - Concerns about Trump's inability to push the US economy and strong global growth are weakening the dollar.
The euro held near two-year highs against the dollar on Friday after the head of the European Central Bank said tapering of its stimulus will be on the table this autumn...
German patience is over with Turkey's Erdogan
2017-07-20 16:04:36 UTC
BERLIN (Reuters) - In comments that threatened broader economic consequences, German Foreign Minister Sigmar Gabriel said he could not advise companies to invest in a country [Turkey] without legal certainty where even completely innocent companies are judged as being close to terrorists".
Obamacare repeal would leave 32 million more uninsured
2017-07-19 22:58:36 UTC
WASHINGTON (Reuters) - Thirty-two million Americans would lose their health insurance by 2026 if Obamacare is repealed without a replacement, the U.S. Congressional Budget Office reported late on Wednesday as President Donald Trump pushed fellow Senate Republicans to reach an agreement on overhau...
German engineers refusing to help Putin to turn on turbines in Crimea
2017-07-19 17:10:03 UTC
MOSCOW (Reuters) - Russia outfoxed European Union sanctions by delivering gas turbines made by Germany's Siemens to the annexed Ukrainian region of Crimea. Now for the hard part, switching them on.
No Russian company, according to Reuters data, has ever got a Siemens turbine working without th...
Brexit EU hub: Morgan Stanley & Citigroup choosing Frankfurt
2017-07-19 16:48:26 UTC
FRANKFURT/LONDON (Reuters) - Morgan Stanley has chosen Frankfurt to be the new base for its European Union operations as Britain prepares to leave the bloc, according to a source familiar with the matter, becoming the latest U.S. bank to pick the German city.
International banks are planning t...
Republicans in chaos over healthcare legislation
2017-07-18 18:40:01 UTC
WASHINGTON (Reuters) - Republicans in the U.S. Congress were in chaos over healthcare legislation after a second attempt to pass a bill in the Senate collapsed late on Monday.
"Regretfully, it is now apparent that the effort to repeal and immediately replace the failure of Obamacare will not ...
US Dollar falls to lowest level in 2017
2017-07-17 21:08:40 UTC
NEW YORK (Reuters) - The U.S. dollar hit its lowest level against a basket of major currencies in 10 months on Monday and the Australian dollar hit a more than two-year high on strong Chinese economic data and doubts that the Federal Reserve would raise interest rates again this year.
Angela Merkel: Brexit changed my view on Europe
2017-07-15 18:57:48 UTC
ZINGST, Germany (Reuters) - German Chancellor Angela Merkel told voters on Saturday that Britain's decision to leave the European Union and France's election of President Emmanuel Macron had changed her view on the bloc, adding it was worth fighting for a stronger Europe.
Merkel's comments, ma...
Google Earth users will be able to post stories, video and photos
2017-07-14 22:16:57 UTC
RIO DE JANEIRO (Reuters) - Google wants users to post millions of stories, video and photos on its 'Google Earth' platform in the next few years, the program chief said on Tuesday at a launch event in Brazil for content focused on showcasing the Amazon rainforest.
The "Voyager" tool allows int...
US requires all nations to provide extensive traveler data
2017-07-13 23:30:12 UTC
WASHINGTON (Reuters) - The U.S. State Department will require all nations to provide extensive data to help it vet visa applicants and determine whether a traveler poses a terrorist threat, according to a cable obtained by Reuters.
Countries that fail to comply with the new protocols or take s...
German exports rose again more strongly than expected
2017-07-10 06:54:14 UTC
German exports rose more strongly than expected in May, outpacing a solid increase in imports and widening the trade surplus of Europe's biggest economy, data showed on Monday.
Seasonally adjusted exports climbed 1.4 percent - their fifth consecutive monthly increase - while imports were up 1....
Merkel convinces fellow world leaders to support trade, energy & Africa - US isolated
2017-07-08 23:24:18 UTC
HAMBURG — Leaders from the world's leading economies broke with U.S. President Donald Trump on climate policy at a G20 summit on Saturday, in a rare public admission of disagreement and blow to multilateral cooperation.
German Chancellor Angela Merkel, keen to show off her skills as a me...
Germany's Federal Crime Office has the Panama Papers
2017-07-04 17:22:23 UTC
BERLIN — Germany's Federal Crime Office(BKA) said on Tuesday it had obtained a copy of the leaked data known as the Panama Papers that last year revealed how offshore firms are used to stash the wealth of the world's rich and powerful.
Some 11.5 million documents from the Panamanian law firm M...
US auto industry has been bracing for a downturn
2017-07-03 16:51:23 UTC
The U.S. auto industry has been bracing for a downturn after hitting a record 17.55 million new vehicles sold in 2016. A glut of nearly new used vehicles poses competition for new vehicle sales and automakers have relied increasingly on high consumer discounts and loosened lending terms.
Tesla Model 3 passed all regulatory requirements for production
2017-07-03 06:23:42 UTC
Tesla Inc's high-volume Model 3 sedan passed all regulatory requirements for production two weeks ahead of schedule, Chief Executive Elon Musk tweeted on Sunday night.
Musk said in May that Tesla was on track to begin production of the $35,000 Model 3 in July.
Tesla expects to produce over ...
Shortlisted bidders in race to buy $10b valued Global Logistic Properties Ltd
2017-07-03 05:50:18 UTC
SINGAPORE — Global Logistic Properties Ltd said on Monday it had received "firm proposals" from shortlisted bidders, days after sources told Reuters that suitors had narrowed to a management-backed Chinese consortium and a group led by Warburg Pincus.
The $10 billion-valued firm is Asia's bigg...