Business

  • Samsung Vice Chairman Jay Y. Lee sentenced for five years
    Samsung_vice_chairman_jay_y._lee_sentenced_for_five_years 2017-08-25 07:18:22 UTC
    SEOUL (Reuters) - A South Korean court jailed Samsung Electronics Vice Chairman Jay Y. Lee for five years on Friday. The Seoul Central District Court was delivering its verdict on charges against Lee, 49, ranging from bribery to perjury in a scandal that led to the ouster in March of the then ...

  • Whole Foods' Competitors Fear Amazon Price Cuts
    Whole_foods'_competitors_fear_amazon_price_cuts 2017-08-25 06:36:18 UTC
    (Reuters) - Amazon said it will cut prices on a range of popular goods as it completes its acquisition of Whole Foods Market, sending shares of rival grocers tumbling on fears that brutal market share battles will intensify. Amazon’s $13.7 billion purchase of Whole Foods, which will be complet...

  • Fired Google Engineer Hires Lawyer in Free Speech Case
    Google 2017-08-24 17:30:02 UTC
    Google found itself at the epicenter of controversy this month after a 10-page anti-diversity manifesto written by one of its employees, which had circulated internally at the company, went viral. James Damore, the employee who wrote the memo—which argued that women are less biologically inclined...

  • U.S. workers have low hopes for higher pay
    U.s._workers_have_low_hopes_for_higher_pay 2017-08-21 17:01:39 UTC
    NEW YORK (Reuters) - U.S. workers see little hope for higher paychecks, and while they are increasingly searching for new jobs, they expect fewer offers to fall into their laps, according to a Federal Reserve survey published on Monday. The first-of-its-kind New York Fed study, to be published...

  • Trump disbanded business councils after CEOs exit
    Trump_encouraged_alt-right_groups_to_be_more_violent 2017-08-16 18:35:17 UTC
    WASHINGTON/NEW YORK (Reuters) - U.S. President Donald Trump disbanded two high-profile business advisory councils on Wednesday after corporate CEOs quit in protest at his remarks blaming violence in Charlottesville, Virginia, not only on white nationalists but also on the protesters who opposed t...

  • Google takes action against 'anti-diversity memo'
    Google_takes_action_against_'anti-diversity_memo' 2017-08-08 04:49:59 UTC
    San Francisco (Reuters) - Internet giant Google has fired the male engineer at the center of an uproar in Silicon Valley over the past week after he authored an internal memo asserting there are biological causes behind gender inequality in the tech industry. James Damore, the engineer who wro...

  • Apple to launch 'Call Watches' without needing an iPhone
    Apple_to_launch_'call_watches'_without_needing_an_iphone 2017-08-04 22:52:29 UTC
    (Reuters) - Apple Inc plans to release a version of its smartwatch later this year that can connect directly to cellular networks, Bloomberg reported on Friday, citing people familiar with the matter. Some of the new models for the Apple Watch will be equipped with LTE chips and be able to per...

  • Apple bends to the will of China after Putin bans Apps
    Apple_bends_to_the_will_of_china_after_putin_banning_apps 2017-08-02 19:47:45 UTC
    Apple Conforms To Chinese Law Pulls Apps From China App Store As Russia Signs Law Banning Their Use. Russia has signed a law banning the use of virtual private networks (VPNs) that enable users to gain access to websites banned in Russia. The new law was signed by President Vladimir Putin...

  • Facebook's Sheryl Sandberg: We need to start paying women well
    Facebook's_sheryl_sandberg-_we_need_to_start_paying_women_well 2017-07-31 04:47:45 UTC
    LONDON (Reuters) - Facebook Inc Chief Operating Officer Sheryl Sandberg called on governments and companies to do more to close the gender pay gap on Sunday and said both girls and boys should be encouraged to become leaders from an early age. "We need to start paying women well and we need th...

  • Tesla delivers the first 30 of its Model 3 cars in California
    Tesla_delivers_the_fierst_30_of_its_model_3_cars_in_california 2017-07-30 16:01:45 UTC
    FREMONT, Calif. (Reuters) - Tesla Chief Executive Officer Elon Musk said on Friday the Model 3 had over half a million advance reservations as he handed over the first 30 to employee buyers, setting the stage for the biggest test yet of the company's strategy to become a profitable, mass market e...

  • US automakers expect a rougher ride for the rest of the year
    Ford_plans_to_shrink_its_salaried_workers_in_us_by_3000 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...

  • Toyota long-range electric car needs just minutes for charging
    Wto 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
    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...

  • ExxonMobil Fined $2M for Russia Sanctions Breach Under CEO Tillerson
    Rex_tillerson_skipping_first_nato_meeting__visiting_moscow 2017-07-22 08:02:32 UTC
    <blockquote>Washington - The U.S. Treasury Department has fined ExxonMobil $2 million for violating U.S. sanctions against Russia three years ago, when Secretary of State Rex Tillerson served as the oil company’s CEO. The Treasury said ExxonMobil showed "reckless disregard" for U.S. law in 20...

  • Brexit EU hub: Morgan Stanley & Citigroup choosing Frankfurt
    Brexit_job_moves-_morgan_stanley_and_citigroup_choose_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...

  • Google Earth users will be able to post stories, video and photos
    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 auto industry has been bracing for a downturn
    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. Major...

  • Tesla Model 3 passed all regulatory requirements for production
    Tesla_inc's_high-volume_model_3_sedan_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 ...

  • US Tech tried to soften on dealing with the Russian spy agency
    Us_tech_tried_to_soften_on_dealing_with_the_russian_spy_agency 2017-06-30 19:19:32 UTC
    WASHINGTON/MOSCOW — As U.S. officials investigated in January the FSB's alleged role in election cyber attacks, U.S. technology firms were quietly lobbying the government to soften a ban on dealing with the Russian spy agency, people with direct knowledge of the effort told Reuters. New U.S. s...

  • VW to spend $800 million in California and a total of $2 billion nationwide on clean car infrastructure
    Vw_to_spend__800_million_in_california_and_a_total_of__2_billion_nationwide_on_clean_car_infrastructure 2017-06-29 23:39:43 UTC
    San Francisco — Volkswagen AG on Thursday told California it was expanding efforts to build electric car infrastructure in poorer communities, responding to regulators who described "shortcomings" in VW's plan. The California Air Resources Board in May said that VW's Electrify America unit nee...

  • Canada's Court Forces Google to Remove Results Worldwide
    Canada's_court_forces_google_to_remove_results_worldwide 2017-06-28 16:15:32 UTC
    Canadian courts can force internet search leader Google to remove results worldwide, the country's top court ruled on Wednesday, drawing criticism from civil liberties groups arguing such a move sets a precedent for censorship on the internet. In its 7-2 decision, Canada's Supreme Court found ...

  • California: Monsanto Weed-Killer Roundup Causes Cancer
    California-_monsanto_weed-killer_roundup_causes_cancer 2017-06-27 18:10:30 UTC
    Glyphosate, an herbicide and the active ingredient in Monsanto Co's popular Roundup weed killer, will be added to California's list of chemicals known to cause cancer effective July 7, the state's Office of Environmental Health Hazard Assessment (OEHHA) said on Monday. Monsanto vowed to contin...

  • EU antitrust regulators hit Alphabet unit Google with a record $2.7 billion fine
    Eu_antitrust_regulators_hit_alphabet_unit_google_with_a_record__2.7_billion_fine 2017-06-27 16:50:51 UTC
    BRUSSELS — EU antitrust regulators hit Alphabet unit Google with a record 2.42-billion-euro ($2.7 billion) fine on Tuesday, taking a tough line in the first of three investigations into the company's dominance in searches and smartphones. It is the biggest fine the EU has ever imposed on a sin...

  • George Clooney's Tequila Company Sold for Up to $1 Billion
    George_clooney_says_bernie_sanders_is_'absolutely_right' 2017-06-22 00:12:49 UTC
    LONDON — Diageo Plc has agreed to buy George Clooney's high-end tequila brand Casamigos in a deal valuing it at up to $1 billion, as the world's largest spirits maker seeks to boost its presence in a high-growth market. Diageo said on Wednesday it would pay $700 million initially for the compa...

  • Ford announces a new manufacturing investment in China
    Ford_announces_a_new_manufacturing_investment_in_china 2017-06-20 17:58:55 UTC
    DETROIT/WASHINGTON — Ford will export the next-generation Focus compact car from China to North America in 2019, rather than from Mexico as earlier planned, saving the company $500 million, a top executive said on Tuesday. It is the first major manufacturing investment decision made by new Chi...