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Updated: 37 min 52 sec ago

Formerly detained Saudi businessmen Alwaleed and Alhokair in talks for loans

6 hours 53 min ago
DUBAI (Reuters) - Two businessmen formerly detained a part of Saudi Arabia's anti-corruption campaign are now in talks with banks for loans for their firms in excess of $3 billion, sources said, suggesting that bank markets are open again for those who have reached financial settlements with the government.

Academic behind Facebook breach says political influence was exaggerated

6 hours 55 min ago
LONDON (Reuters) - The consultancy at the heart of a storm over Facebook data greatly exaggerated its role in Donald Trump's 2016 U.S. presidential victory and would not have been able to sway an election result, the academic who provided the data said.

Record U.S. oil offshore lease sale to test Trump energy push

7 hours 22 min ago
(Reuters) - The U.S. Interior Department will hold the largest lease sale in American history in the offshore Gulf of Mexico on Wednesday, in a major test of the oil industry’s appetite for federal acreage being offered by the Trump administration.

U.S. judge to question Big Oil on climate change

7 hours 26 min ago
SAN FRANCISCO (Reuters) - Five of the world's biggest energy producers will be questioned by a federal judge on Wednesday about climate change science, part of a lawsuit that accuses the companies of misleading the public for years about their role in global warming.

Bayer wins EU approval for $62.5 billion Monsanto buy

7 hours 47 min ago
BRUSSELS (Reuters) - German conglomerate Bayer won EU antitrust approval on Wednesday for its $62.5 billion buy of U.S. peer Monsanto, the last of a trio of mega mergers that will reshape the agrochemicals industry.

Dropbox raises IPO price range by $2 on strong demand

7 hours 50 min ago
(Reuters) - Dropbox Inc [DBX.O] has raised the price range for its initial public offering by $2 following strong demand for the first big tech IPO this year.

Nordea says its sustainable funds won't buy more Facebook stock

7 hours 59 min ago
STOCKHOLM (Reuters) - Nordea, the Nordic region's biggest bank, will not let its sustainable funds buy more Facebook shares for the time being, its head of sustainable finance said.

Equities, dollar slip as Fed rate path jitters build

8 hours 19 min ago
LONDON (Reuters) - World shares were flat on Wednesday and the dollar eased off three-week highs as investors marked time before a likely hike in U.S. interest rates and awaited guidance on how many more to expect for this year.

BMW raises R&D spending for electric, autonomous cars

8 hours 52 min ago
Munich (Reuters) - German carmaker BMW will increase research and development (R&D) spending to an all-time high of up to 7 billion euros ($8.6 billion) this year as part of efforts to bring 25 electrified models to market by 2025.

A tale of two hotels: Italy's bad loan sales hang in the balance

9 hours 33 min ago
MILAN/LONDON (Reuters) - The Hotel Dei Dogi, a lagoon-side palazzo in Venice, will be renovated in the autumn for the first time in 20 years after a U.S. investment firm snapped up the debts of its family owners, confident of selling it and eight sister hotels at a profit.

Academic behind Facebook breach says he is a 'scapegoat': BBC

9 hours 55 min ago
LONDON (Reuters) - A Cambridge University academic who harvested data on millions of Facebook users said he has been made a scapegoat by the social network and a UK-based political consultancy that is accused of trying to sway public opinion for Donald Trump.

High speed: China's Geely 2017 net profit soars amid global push

11 hours 11 min ago
SHANGHAI (Reuters) - Chinese carmaker Geely Automobile Holdings Ltd , whose chairman recently took a $9 billion stake in Germany's Daimler AG , said on Wednesday its profits more than doubled in 2017, driven by strong domestic sales of popular SUVs.

Starbucks' mobile order push meets resistance from ritual seekers

11 hours 21 min ago
LOS ANGELES (Reuters) - Starbucks Corp wants more people to use its time-saving mobile ordering app that lets customers buy drinks without waiting in line.

Powell's Fed likely to raise rates, may upgrade 2018 outlook

13 hours 17 min ago
WASHINGTON (Reuters) - The Federal Reserve is expected to raise interest rates at its first policy meeting under Chairman Jerome Powell and may signal more hikes are coming in response to tax cuts and government spending that could further stoke a robust U.S. economy.

Caution the watchword as Fed ponders rate pace

13 hours 17 min ago
SYDNEY (Reuters) - A hush settled over financial markets on Wednesday as investors counted down to a likely hike in U.S. interest rates and guidance on how many more to expect this year, while trade war fears kept export nations' currencies on edge.

Exclusive: Kaspersky Lab plans Swiss data center to combat spying allegations - documents

13 hours 19 min ago
MOSCOW/TORONTO (Reuters) - Moscow-based Kaspersky Lab plans to open a data center in Switzerland to address Western government concerns that Russia exploits its anti-virus software to spy on customers, according to internal documents seen by Reuters.

In search of higher margins, Canada Goose to make more of its own luxury coats

13 hours 28 min ago
(Reuters) - Luxury coat maker Canada Goose plans to bring more manufacturing in-house in a bid to boost margins and help it live up to lofty investor expectations as the most expensive stock among major luxury brands.

Pension fund CalSTRS opposes Tesla's compensation package for Musk

14 hours 30 min ago
(Reuters) - U.S. public pension fund CalSTRS said on Wednesday it is opposed to Tesla Inc's recommendation to support Chief Executive Elon Musk's compensation arrangement at the electric car maker's shareholder meeting.

Asian business sentiment edges up to hit seven-year high: Thomson Reuters/INSEAD

Tue, 03/20/2018 - 11:39pm
SYDNEY (Reuters) - Business confidence among Asian companies rose in the first quarter to the highest level in seven years, a Thomson Reuters/INSEAD survey showed, as a fresh surge by the Chinese economy offset concerns about rising trade barriers.

New Zealand court rejects Megaupload founder's call for Obama appearance

Tue, 03/20/2018 - 11:00pm
WELLINGTON (Reuters) - A New Zealand court rejected on Wednesday internet entrepreneur Kim Dotcom's application for former U.S. President Barack Obama to appear in court in relation to a damages claim over his defunct Megaupload streaming website.