Financial News Page
Trump talks to U.S. automakers, pushes for new American plants
U.S. President Donald Trump urged the chief executives of the Big Three U.S. automakers on Tuesday to build more cars in the country, pressing his pledge to bring jobs to America and discourage the car industry from investing in Mexico. Trump, who has threatened to impose 35 percent tariffs on imported vehicles, opened a White House meeting with General Motors Co CEO Mary Barra, Ford Motor Co's Mark Fields and Fiat Chrysler Automobiles NV's Sergio Marchionne by saying he wanted to see more auto plants in the United States.
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U.S. agency calls for safer lithium-ion batteries after Samsung fires
"Consumers should never have to worry that a battery-powered device might put them, their family or their property at risk,” Consumer Product Safety Commission Chairman Elliot Kaye said in a statement. The agency reached agreement with Samsung to recall 2.5 million Note 7 phones in early September. While most recalls have a "dangerously low" consumer response rate, 97 percent of Samsung's Note 7 phones have been returned, Kaye said.
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Asian stocks at three-month highs on U.S. cues, dollar rebounds for now
Asian stocks edged up to three-month highs on Wednesday, helped by a firm finish on Wall Street, while a rebound in the dollar looked vulnerable as some investors grew skeptical about U.S. President Trump's policies translating into further gains. "There has been a broad unwinding of short dollar positions in recent days but unless the scale of the likely fiscal stimulus from the U.S. becomes clearer, prompting the Fed to become more hawkish, the dollar will trade in broad ranges against major rivals," said Adarsh Sinha, an FX strategist at Bank of America Merrill Lynch in Hong Kong. The dollar snapped its recent losing streak and Treasury yields pushed higher overnight as Trump shifted his focus back to growth initiatives including promising corporate tax breaks to fuel U.S. investment, after focusing on protectionism in his first few days in office.
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Cisco to buy AppDynamics for $3.7 billion in growth push
Cisco Systems Inc said on Tuesday that it agreed to buy U.S. business software company AppDynamics Inc for about $3.7 billion, making one of its largest deals of recent years as it searches for growth beyond its core networking business. Legacy technology players like Cisco have been trying to shift their strategy to stay ahead of technology developments, such as the rise of cloud computing, that could otherwise threaten their core businesses. Cisco's announcement comes a week after Hewlett Packard Enterprise Co said it would buy cloud startup SimpliVity for $650 million in cash.
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Aetna, Humana to consider all options after court blocks merger
The deal would "substantially lessen competition" in the sale of Medicare Advantage plans in 364 counties in 21 U.S. states and on the Obamacare exchange in three Florida counties, the U.S. District Court for the District of Columbia ruled on Monday. "We continue to believe a combined company will create access to higher-quality and more affordable care, and deliver a better overall experience for those we serve," Aetna Chief Executive Officer Mark Bertolini and Humana Chief Executive Offer Bruce Broussard said in a joint statement on Tuesday.
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Toyota Motor to add 400 jobs at Indiana assembly plant
TOKYO/WASHINGTON (Reuters) - Toyota Motor Corp on Tuesday said it would add 400 jobs to build more SUVs at one of its U.S. plants, highlighting its expansion plans just as U.S. President Donald Trump calls on manufacturers to build more cars in the country. The Japanese automaker said the jobs were part of a $600 million upgrade of its plant in Princeton, Indiana, and were included in its plans announced earlier this month to invest $10 billion in its U.S. operations over the next five years. The announcement comes as Trump focuses on protectionist trade policies during his administrations' first week, including a formal withdrawal of the United States from the Trans-Pacific Partnership trade deal on Monday.
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Alcoa beats revenue estimates, sees higher aluminum demand
The stock has risen 42 percent since Donald Trump's victory in the Nov. 8 U.S. presidential election. Added to that, a stimulus package proposed by Trump could further help aluminum producers such as Alcoa.
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Takata shares rise by daily limit, up 18.2 percent
Shares in Japanese air bag manufacturer Takata Corp gained 18.2 percent on Wednesday, rising by a daily limit of 80 yen to 519 yen , stemming four days of steep decline brought about by investor fear of ...
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Toshiba shares slip ahead of chip business sale approval
Shares of Toshiba Corp slipped in early trading on Wednesday as the company prepared to give the nod to spinning off its chip business. Its shares slumped 2.2 percent to 254 yen, even as the Nikkei stock index (.N225) rose 1.7 percent. Toshiba's board will meet on Friday to approve plans to make its chip business a separate company and hopes to raise more than 200 billion yen ($1.76 billion) by selling a 20 percent stake in it, a person with direct knowledge of the matter said.
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Japan exports up for first time in 15 months, U.S. protectionism poses risks
Japan's exports rose for the first time in 15 months in December on strong sales of electronics and car parts, a positive sign for the export-reliant economy even as U.S. protectionism threatens to hurt trade across the region and dent external demand. Ministry of Finance data showed on Wednesday that exports rose 5.4 percent year-on-year in December, compared with a 1.2 percent annual increase expected by economists in a Reuters poll. The volume of shipments also rose 8.4 percent from a year earlier, up for a second straight month, underlining a pickup in external demand.
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