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China's ZTE Corp pleads guilty in US court in sanctions case

Wed, 22 Mar 2017 22:00:30 GMT

Chinese telecom equipment maker ZTE Corp on Wednesday pleaded guilty in U.S. federal court in Texas for illegally shipping U.S. goods and technology to Iran.

Canada unveils wait-and-see budget amid US policy uncertainty

Wed, 22 Mar 2017 21:45:29 GMT

Canada's Liberal government unveiled a stay-the-course budget on Wednesday that targeted export growth and some measure of tax reform but did little to whittle away at deficits even as it backed off from an explicit pledge to improve the debt outlook.

With Sears' future in doubt, vendors begin pulling back

Wed, 22 Mar 2017 21:40:32 GMT

Sears Holdings Corp's disclosure that it could lack the financial strength to continue as a going concern is turning attention to the key difference maker for any cash-strapped retailer: vendors.

US stocks steady ahead of congressional health vote

Wed, 22 Mar 2017 21:20:39 GMT

US stocks finished mostly higher on Wednesday, shaking off the prior session's rout, ahead of a key congressional vote seen as a proxy for the policy agenda of President Donald Trump.

Trump Tantrum looms on Wall Street if healthcare effort stalls

Wed, 22 Mar 2017 21:05:14 GMT

The Trump Trade could start looking more like a Trump Tantrum if the new U.S. administration's healthcare bill stalls in Congress, prompting worries on Wall Street about tax cuts and other measures aimed at promoting economic growth.

Hospital, Medicaid insurer shares set for volatility as health vote nears

Wed, 22 Mar 2017 20:40:32 GMT

The slumping U.S. healthcare stocks at the center of efforts to dismantle the Affordable Care Act are expected to stay volatile as Republican legislation heads into a vote on Thursday that could signal how protracted their battle to repeal the law will be.

Verizon, AT&T suspend ads from Google over offensive videos

Wed, 22 Mar 2017 21:40:34 GMT

U.S. wireless carriers Verizon Communications Inc and AT&T Inc said on Wednesday they have suspended some digital advertising from Google and YouTube because of concerns that their ads may have run next to offensive content.

If healthcare vote fails, would jeopardize 'Trump trades': Gundlach

Wed, 22 Mar 2017 20:40:36 GMT

If the U.S. healthcare legislation overhaul is not passed, or is postponed, it will put "a lot of doubt" on the "Trump trades," which include higher U.S. equities and bond yields, DoubleLine Capital Chief Executive Jeffrey Gundlach said on Wednesday.

About 17,000 AT&T workers in California and Nevada go on strike

Wed, 22 Mar 2017 18:55:31 GMT

About 17,000 AT&T Inc workers in California and Nevada went on strike on Wednesday, alleging that the company violated contract terms by forcing employees to do work outside their areas of expertise.

Britain 'must settle accounts' before leaving EU: Barnier

Wed, 22 Mar 2017 18:12:13 GMT

Britain must reach a deal on what it owes the European Union before talks can start on a post-Brexit trade deal, the EU's negotiator Michel Barnier said on Wednesday.

Snap pops 9 percent after winning second 'buy' recommendation

Wed, 22 Mar 2017 17:45:25 GMT

Shares of Snap Inc jumped 9 percent on Wednesday after the owner of messaging app Snapchat received a second analyst "buy" rating following a red-hot public listing this month and with Wall Street skeptical about its lofty valuation.

US existing home sales slow in February

Wed, 22 Mar 2017 17:30:38 GMT

Amid rising prices and slim inventory, sales of existing homes slowed in February, cooling from January's record pace which saw the biggest jump in 10 years, an industry group reported on Wednesday.

Starbucks CEO Schultz to host last shareholder meeting

Wed, 22 Mar 2017 17:05:36 GMT

Starbucks Corp co-founder Howard Schultz will host his final shareholder meeting as chief executive officer on Wednesday before Chief Operating Officer Kevin Johnson takes the helm of the global coffee chain on April 3.

Sears shares sink as investors fret over going-concern risk

Wed, 22 Mar 2017 20:05:25 GMT

Sears Holdings Corp's shares tumbled as much as 16 percent on Wednesday as bondholders and investors questioned how long the storied retailer could remain in business after it flagged doubts that it could continue as a going concern.

Laptop ban hits Gulf airlines in battle for business travelers

Wed, 22 Mar 2017 16:20:22 GMT

A ban on laptops in plane cabins bound for the United States from some cities could deal a blow to the big, fast-growing Gulf airlines, which depend on business-class flyers stopping over in places like Dubai or Doha for far-flung destinations.

Walmart announces plan to invest US$800 million in Chile

Wed, 22 Mar 2017 16:15:35 GMT

Wal-Mart Stores Inc's Chilean unit will invest US$800 million in the country over the next three years and open 55 to 60 new supermarkets, the company said on Wednesday, a significant outlay at a time of slow economic growth.

EU's Vestager says analyzing Facebook reply to WhatsApp probe

Wed, 22 Mar 2017 16:15:31 GMT

EU antitrust chief Margrethe Vestager said on Wednesday she was reviewing Facebook's response to charges the U.S. social network provided misleading information during its bid for messaging service WhatsApp which may result in a hefty fine for the company.

Key House lawmaker: Dodd-Frank overhaul remains a 2017 priority

Wed, 22 Mar 2017 16:55:26 GMT

The Republican chairman of a powerful House of Representatives committee said on Wednesday that he remains confident Congress will act to overhaul financial regulations "this year."

SEC shortens settlement cycle for securities trades

Wed, 22 Mar 2017 14:45:15 GMT

U.S. securities regulators moved on Wednesday to modernize regulations that require stock and bond trades to settle within three business days, a step the industry has urged the government to take for years.

Cybersecurity sector projected to grow to S$900m by 2020: Yaacob

Wed, 22 Mar 2017 14:30:39 GMT

Dr Yaacob said that cyber security is one of the emerging growth sectors in Singapore's digital economy, with the potential to provide more than 2,500 additional job openings by 2018.

Indian regulator says Dow, duPont deal likely to hurt competition

Wed, 22 Mar 2017 14:20:32 GMT

India's competition regulator said the proposed merger between Dow Chemical and duPont was likely to hurt competition, a government statement said on Wednesday.

Google allows users to share their locations in mapping app

Wed, 22 Mar 2017 14:10:19 GMT

Alphabet Inc's Google announced on Wednesday that it will revamp its popular maps app to allow users to share their locations, in order to boost engagement on a product of increasing strategic importance to the search giant.

Tight supply, higher prices weigh on US home sales

Wed, 22 Mar 2017 17:30:29 GMT

U.S. home resales fell more than expected in February amid a persistent shortage of houses on the market that is pushing up prices and sidelining prospective buyers.

EU to formally veto Deutsche Boerse LSE merger shortly: sources

Wed, 22 Mar 2017 16:05:17 GMT

The European Commission will shortly veto a proposed merger between Deutsche Boerse and the London Stock Exchange , four sources close to the matter said on Wednesday, scuppering plans to create Europe's biggest exchange.

GE links bonuses to cost-cutting targets after talks with Trian

Wed, 22 Mar 2017 15:35:34 GMT

General Electric Co said it expected to cut costs and boost operating profit in its industrial unit and linked the bonuses of its senior management to meeting these goals, as it bows to pressure from Nelson Peltz's Trian Fund Management.

Choppy day on Wall Street; all eyes on Trump and healthcare

Wed, 22 Mar 2017 20:35:22 GMT

Wall Street ended mixed after a choppy session on Wednesday as investors focused on President Donald Trump's struggle to push through a healthcare bill and snapped up stocks after a steep drop the day before.

US investors fight to preserve SEC rule on CEO pay ratio

Wed, 22 Mar 2017 13:25:42 GMT

More than 100 institutional investors opposed efforts by the U.S. securities regulator to delay a rule requiring companies to disclose a ratio comparing their chief executive's pay with their workforce median.

Instagram says advertising base tops 1 million businesses

Wed, 22 Mar 2017 13:25:38 GMT

Instagram is expected to announce on Wednesday that it has reached more than 1 million monthly active advertisers, as the Facebook Inc-owned photo-sharing app tries to become a center of online commerce.

SGX-listed companies can electronically transmit shareholder documents

Wed, 22 Mar 2017 12:40:38 GMT

The Listing Rules will be amended from Mar 31 this year.

Behind the scenes, bank lobbyists temper expectations for Dodd-Frank overhaul

Wed, 22 Mar 2017 13:25:28 GMT

Bank lobbyists who opened the Trump era with great expectations for sweeping regulatory reform are privately striking an increasingly dismal tone as hopes for a quick and thorough rewrite of Dodd-Frank legislation dim.