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Reuters: Business News



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Wall St. little changed ahead of Fed minutes

Wed, 24 May 2017 09:54:25 -0400

(Reuters) - U.S. stocks were little changed in early trading on Wednesday as investors awaited Federal Reserve minutes of its May meeting that could cement the chances of a rate hike next month.(image)



Moody's downgrades China, warns of fading financial strength as debt mounts

Wed, 24 May 2017 09:17:37 -0400

SHANGHAI/BEIJING (Reuters) - Moody's Investors Service downgraded China's credit ratings on Wednesday for the first time in nearly 30 years, saying it expects the financial strength of the economy will erode in coming years as growth slows and debt continues to rise.(image)



Kuwait says OPEC, non-OPEC could deepen oil cuts

Wed, 24 May 2017 09:48:20 -0400

VIENNA (Reuters) - OPEC and non-member oil producers could deepen output cuts or extend them for a year at a meeting in Vienna this week, Kuwait said on Wednesday, as they seek to clear a global stocks overhang and prop up the price of crude.(image)



Citi struggles to bring back shine to its Mexican crown jewel

Wed, 24 May 2017 09:32:31 -0400

MEXICO CITY/NEW YORK (Reuters) - The newly refurbished Citibanamex branch in Mexico City's affluent Del Valle neighborhood opens into a Scandinavian-chic space where salespeople chat with clients at touch screens. The next room, though, is filled with customers queueing up in front of tellers or waiting on benches. Outside, more line up to use the ATMs.(image)



Analysts wary over Fiat Chrysler's emissions but say not as bad as VW

Wed, 24 May 2017 09:41:27 -0400

MILAN (Reuters) - Any potential fines Fiat Chrysler (FCA) may need to pay to settle a U.S. civil lawsuit over diesel emissions will unlikely top $1 billion, analysts said, adding the case appeared less serious than at larger rival Volkswagen .(image)



U.S. financial council reimagined as boon, not bane, for Wall Street

Wed, 24 May 2017 01:16:17 -0400

WASHINGTON (Reuters) - The Financial Stability Oversight Council (FSOC), which brings together all U.S. financial watchdogs, used to be the scourge of Wall Street but under Treasury Secretary Steven Mnuchin it can serve to ease its regulatory burdens.(image)



Tiffany's lackluster sales sends shares down

Wed, 24 May 2017 08:37:46 -0400

(Reuters) - Tiffany & Co reported lower-than-expected quarterly sales and a surprise drop in comparable sales, underscoring the upscale jeweler's struggles with a strong dollar that has crimped spending by tourists and weak demand at home.(image)



Uber inadvertently underpaid New York City drivers for over two years

Wed, 24 May 2017 04:14:35 -0400

(Reuters) - Uber Technologies Inc [UBER.UL] said on Tuesday it underpaid its New York City drivers for the past two-and-a-half years, an error that could cost the ride-hailing company tens of millions of dollars.(image)



Judge gives RBS a week to end investor suit or face trial

Wed, 24 May 2017 08:50:21 -0400

LONDON (Reuters) - A judge has given Royal Bank of Scotland and thousands of investors until June 1 to agree a deal that would avert a trial over the bank's 12 billion pound cash call in 2008.(image)



Anthem weighing Obamacare individual market in each state

Wed, 24 May 2017 09:02:48 -0400

NEW YORK (Reuters) - Anthem Inc is looking at each state to determine what its participation in the Obamacare individual market will be next year given the political and regulatory uncertainty, Chief Executive Officer Joseph Swedish said on Wednesday.(image)