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Sanofi's M&A misses frustrate some investors in drugmaker

Fri, 20 Jan 2017 07:05:16 GMT

For the last year, Sanofi's chief executive has made clear his quest for deals to help revive the fortunes of France's biggest drugmaker.

For stock performance under Trump, don't look to prior transitions

Fri, 20 Jan 2017 06:25:29 GMT

As he is sworn in as the 45th U.S. president on Friday, Donald Trump will mark one of the best performances for the American stock market for any presidential transition period of the modern era.

Trumponomics may be wrong medicine for US economy today

Fri, 20 Jan 2017 06:15:25 GMT

Tax cuts, deregulation and more federal spending advocated by the incoming Trump administration are a classic remedy for economic stagnation and long unemployment lines.

Jurong Port launches new academy for port workers

Fri, 20 Jan 2017 05:20:38 GMT

The Jurong Port Academy will cater to about 1,900 workers from Jurong Port and its partner companies. 

China fourth-quarter GDP grows 6.8 percent, slightly better than expected, but debt risks loom

Fri, 20 Jan 2017 02:45:12 GMT

Boosted by higher government spending and record bank lending, China's economy grew by a faster-than-expected 6.8 percent in the fourth quarter, giving it a solid tailwind heading into what is expected to be a turbulent 2017.

China says 2016 growth slows to 6.7%

Fri, 20 Jan 2017 02:13:52 GMT

The world's second-largest economy expanded 6.7 per cent in 2016, the National Bureau of Statistics said. 

Fed's Yellen says unwise to allow US economy to run 'hot'

Fri, 20 Jan 2017 02:35:36 GMT

With monetary policy still modestly accommodative, the U.S. central bank should continue to raise interest rates slowly or risk harm to the recovery the Fed has sought to nurture, Federal Reserve Chair Janet Yellen said on Thursday.

Toshiba making preparations for sale of stake in chip business: sources

Fri, 20 Jan 2017 06:55:30 GMT

Japan's Toshiba Corp has begun preparations to sell a minority stake in its core chip business, people with knowledge of the matter said, as it urgently seeks funding to help avoid being crippled by an upcoming multi-billion dollar writedown.

Toshiba shares extend losses on accounting woes

Fri, 20 Jan 2017 00:30:41 GMT

Shares in Japan's Toshiba Corp extended losses on Friday, weighed down by concern over a potentially bigger-than-expected US$6 billion writedown triggered by cost overruns at its U.S. nuclear business.

Samsung Electronics says to hold Galaxy Note 7 briefing on January 23

Fri, 20 Jan 2017 00:10:19 GMT

Samsung Electronics Co Ltd said it will announce on Jan. 23 the results of a probe on what caused some Galaxy Note 7 smartphones to catch fire, as the firm seeks to recover from one of the biggest product safety failures in tech history.

Democrats ask US brokerages if they support delay to fiduciary rule

Thu, 19 Jan 2017 23:35:23 GMT

One of the strongest proponents of the Democrats on financial regulation demanded on Thursday that big brokerages come clean about whether they would support delaying a new rule by the U.S. Department of Labor if President-elect Donald Trump's administration makes a move to do so.

China seen posting steady fourth quarter GDP growth of 6.7 percent

Thu, 19 Jan 2017 23:15:14 GMT

Boosted by higher government spending and record bank lending, China is expected to report on Friday that its economy grew by a steady 6.7 percent in the fourth quarter, giving it a solid tailwind heading into what is expected to be a turbulent 2017.

JPMorgan raises CEO Dimon's pay 3.7 percent to US$28 million

Thu, 19 Jan 2017 22:35:36 GMT

JPMorgan Chase & Co directors paid Chief Executive Jamie Dimon US$28 million in total compensation for 2016, a 3.7 percent increase from the prior year, the company said on Thursday.

Wells Fargo to merge international business with wholesale banking

Fri, 20 Jan 2017 02:55:17 GMT

Wells Fargo & Co , the third-largest U.S. bank by assets, said on Thursday it would merge its international business with its wholesale banking unit that serves corporate clients.

Investors curb their enthusiasm ahead of Trump era

Thu, 19 Jan 2017 21:55:30 GMT

A month ago, the dollar and stock markets were riding high as investors bet that the Trump administration, together with the Republican-controlled Congress, would usher in an era of lower taxes, more government spending and looser regulations.

US stocks drop on eve of Trump inauguration

Thu, 19 Jan 2017 22:00:38 GMT

Wall Street stocks dropped on Thursday (Jan 19) in the final session before the inauguration of US President-elect Donald Trump.

U.S outlook no more uncertain than usual, Fed policymaker says

Thu, 19 Jan 2017 22:25:11 GMT

One day before U.S. President-elect Donald Trump is set to be sworn in, an influential Federal Reserve policymaker said that while there is uncertainty over the economic outlook, it is no more pronounced now than it usually is.

Uber to pay US$20 million to settle US claims it misled drivers

Thu, 19 Jan 2017 22:00:34 GMT

Ride-hailing company Uber Technologies Inc has agreed to pay US$20 million to settle claims by the U.S. government that it exaggerated prospective earnings in seeking to recruit drivers, documents filed with a federal court on Thursday showed.

IBM revenue fall dims upbeat profit forecast

Thu, 19 Jan 2017 23:50:24 GMT

International Business Machines Corp reported its 19th straight quarter of declining revenue, but forecast full-year earnings above Wall Street estimates due to growth in newer areas such as cloud-based services and analytics.

AmEx profit misses estimates on higher marketing spend

Thu, 19 Jan 2017 23:20:14 GMT

American Express Co posted a lower-than-expected quarterly profit on Thursday as the credit card issuer boosted spending on marketing and promotion to fend off rising competition.

China extends Hollywood push with US$1 billion Paramount investment

Fri, 20 Jan 2017 05:20:15 GMT

Viacom Inc's Paramount Pictures will receive a US$1 billion cash investment from two Chinese film companies, Shanghai Film Group (SFG) and Huahua Media, giving the U.S. studio much-needed cash and support as it attempts to grow.

Trump Treasury pick defends offshore investments, lending practices

Thu, 19 Jan 2017 20:40:45 GMT

President-elect Donald Trump's nominee to head the US Treasury on Thursday fended off questions about his role in offshore investment firms and his real-estate holdings as well as his lending practices.

George Soros says Trump will fail and market's dream will end

Thu, 19 Jan 2017 22:05:12 GMT

The billionaire investor George Soros said on Thursday that global markets will falter given the uncertainty of incoming U.S. President Donald Trump's policies.

US health agency tells Grassley there is no EpiPen deal yet

Thu, 19 Jan 2017 22:35:32 GMT

Mylan NV has yet to reach a settlement with the U.S. Department of Justice over the classification in the Medicaid program of its life-saving EpiPen allergy treatment, according to a letter from a regulatory agency disclosed on Thursday.

Exclusive: Spirit AeroSystems mulls outsourcing US supply chain jobs: sources

Thu, 19 Jan 2017 20:10:18 GMT

Spirit AeroSystems Holdings Inc , a major supplier to aircraft maker Boeing Co , is considering outsourcing up to 85 U.S. supply chain jobs, possibly to a company overseas, according to three people familiar with the plan.

Mnuchin not in favor of cutting federal ties with Fannie, Freddie

Thu, 19 Jan 2017 19:20:23 GMT

President-elect Donald Trump's pick for U.S. Treasury Secretary, Steve Mnuchin, on Thursday told a Senate panel he does not believe in severing federal ties with and privatizing mortgage giants Fannie Mae and Freddie Mac .

Alibaba's Ma makes star turn as Davos pivots to China

Thu, 19 Jan 2017 19:01:16 GMT

President Xi Jinping wowed the audience in Davos with his exaltation of globalisation, but China's real "Davos Man" may be the omnipresent and deal-hungry founder of Alibaba, Jack Ma.

New UN chief at Davos seeks allies in business

Thu, 19 Jan 2017 18:49:37 GMT

UN Secretary-General Antonio Guterres used his first address at the World Economic Forum in Davos on Thursday to push for a new partnership with business to help fight climate change and reduce poverty.

Costco to pay US$11.75 million over lax US pharmacy controls

Thu, 19 Jan 2017 20:00:13 GMT

Costco Wholesale Corp will pay US$11.75 million to resolve claims that some of its pharmacies filled improper or incomplete prescriptions for controlled substances in violation of federal regulations, the U.S. Justice Department said on Thursday.

May vows 'open' Britain as banks shift jobs from London

Thu, 19 Jan 2017 18:29:30 GMT

Prime Minister Theresa May told the world's elite on Thursday (Jan 19) that Britain would become a champion for business and free trade despite Brexit, even as major banks said they planned to shift jobs out of London.