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Reuters: Business News is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial in


Exclusive: In mammoth task, BP sends almost three million barrels of U.S. oil to Asia

Wed, 07 Dec 2016 07:59:16 -0500

SINGAPORE (Reuters) - Oil major BP is shipping almost three million barrels of U.S. crude to customers across Asia, pioneering a lengthy and complex operation likely to become more popular after OPEC last week announced deep production cuts.(image)

Monte dei Paschi bolsters European stocks, ECB looms

Wed, 07 Dec 2016 08:36:54 -0500

LONDON (Reuters) - European shares followed Asian stocks higher on Wednesday, buoyed by reports that Italy would step in to rescue troubled bank Monte dei Paschi and by expectations the European Central Bank would extend its bond-buying stimulus scheme this week.(image)

Trump defends his comments on Boeing, sees markets going up: NBC interview

Wed, 07 Dec 2016 08:17:36 -0500

WASHINGTON (Reuters) - Donald Trump said companies should welcome his actions because they will prosper under his administration, the U.S. President-elect told NBC on Wednesday, one day after Boeing Co's shares took a hit when he used Twitter to criticize one of its high-profile projects.(image)

U.S. mortgage rates rise to highest levels in over two years: MBA

Wed, 07 Dec 2016 09:24:20 -0500

NEW YORK (Reuters) - Interest rates on U.S. fixed-rate mortgages rose to their highest levels in more than two years, sending weekly home loan application activity to its weakest since early January, Mortgage Bankers Association data released on Wednesday showed.(image)

OPEC, U.S. begin 'cat and mouse' oil game as producers pounce on hedges

Wed, 07 Dec 2016 09:02:42 -0500

LONDON/NEW YORK (Reuters) - As far as one of the world’s biggest commodities traders, Glencore’s chief Ivan Glasenberg, is concerned, the oil market will be at the mercy of "a cat and mouse game" between OPEC and its U.S. shale rivals in the coming year.(image)

J&J questions fairness of hip implant trial, $1 billion verdict

Wed, 07 Dec 2016 06:51:43 -0500

(Reuters) - Johnson & Johnson will challenge the fairness of a trial that produced a verdict of $1 billion in damages against the company last week over allegations of design flaws in its Pinnacle hip implant.(image)

SoftBank's Son pledges $50 billion, Foxconn eyes U.S. expansion as Trump woos Asian firms

Wed, 07 Dec 2016 06:04:16 -0500

NEW YORK (Reuters) - Two of Asia's biggest technology companies said they were looking to expand investment in the United States, as President-elect Donald Trump pushes to bring manufacturing and jobs back home.(image)

Starbucks sets five-year growth targets, to open 12,000 more stores

Wed, 07 Dec 2016 08:43:40 -0500

(Reuters) - Starbucks Corp set an annual revenue growth target of 10 percent and profit growth target of 15-20 percent for the next five years, and the coffee chain said it planned to open 12,000 stores globally by 2021.(image)

Britain fines Pfizer record $107 million for huge drug price hike

Wed, 07 Dec 2016 09:22:15 -0500

LONDON (Reuters) - Britain's competition watchdog has fined Pfizer a record 84.2 million pounds ($107 million) for its role in ramping up the cost of an epilepsy drug by as much as 2,600 percent.(image)

EpiPen maker Mylan says may cut jobs

Wed, 07 Dec 2016 09:03:51 -0500

(Reuters) - Generic drugmaker Mylan NV said on Wednesday it may cut less than 10 percent of its global workforce as part of a restructuring program.(image)