BERLIN (Reuters) – Continental is considering splitting into four separate businesses to boost its market capitalisation but must convince majority shareholder Schaeffler of the plan, Manager Magazin reported, sending Continental shares up 3.5%. The four business areas – tires, autonomous driving, automotive, and ContiTech – would either be sold or put on the market, the…
By Steve Holland WASHINGTON (Reuters) -A White House review on Monday recommended that the FBI’s ability to conduct non-national security queries under a controversial surveillance law be removed as part of reforms aimed at getting the law reauthorized. The Foreign Intelligence Surveillance Act’s Section 702 permits the U.S. government to collect digital communications of foreigners…
By Stephen Culp NEW YORK (Reuters) – Wall Street bounced back to a sharply higher close in light trading on Friday as investors embarked on the second half of the year ahead of the long holiday weekend. All three major U.S. stock indexes reversed early losses to end in well into positive territory in the…
By William Schomberg, Kylie MacLellan and Elizabeth Piper LONDON (Reuters) – Britain’s new finance minister Jeremy Hunt scrapped Prime Minister Liz Truss’s economic plan and scaled back her vast energy support scheme on Monday, making a historic policy U-turn to try to stem a dramatic loss of investor confidence. Truss’s spokesman denied that Hunt was…
By Andrew Hay TAOS, New Mexico (Reuters) -New Mexico prosecutors on Thursday said they would drop involuntary manslaughter charges against actor Alec Baldwin in the fatal shooting of cinematographer Halyna Hutchins during filming of the Western movie “Rust” in 2021. The decision came after new evidence surfaced on the gun Baldwin was using that fired…
(Fixes typographical error in Maliagros) By Summer Zhen, Carolina Mandl and Nell Mackenzie HONG KONG/LONDON (Reuters) -Five hedge funds interviewed by Reuters this week each gave details of a trading idea they think could result in a profit from the most significant turmoil to have roiled the banking sector since the 2008 financial crisis. The…
WASHINGTON (Reuters) – The U.S.-based National Foreign Trade Council on Thursday blasted Canada for its refusal to back a global agreement to hold off on implementing digital services taxes for at least another year, and said the move could invite retaliation. NFTC President Jake Colvin said he welcomed news from the OECD that most countries…
By Alvise Armellini ROME (Reuters) – Italy’s competition watchdog AGCM is trying to close a legal loophole that has allowed several companies to evade antitrust fines and may help Amazon in an ongoing appeal, a legal expert and two sources told Reuters. The European Commission is closely following the matter, which has potential implications for…
TOKYO (AP) — Asian shares fell in muted trading as markets were closed for Good Friday and other holidays. Benchmarks declined in Tokyo, Seoul and Shanghai. Sydney, Sydney, Manila, Bangkok and Hong Kong were among markets observing holidays on Friday. U.S. and European markets also were closed. Shutdowns in major Chinese cities due to coronavirus…
By Eliana Raszewski and Jorgelina do Rosario BUENOS AIRES/LONDON (Reuters) -Argentina’s government devalued its currency by nearly 18% on Monday while the benchmark interest rate was raised by 21 percentage points to 118%, the central bank said, as financial markets reeled the day after a shock primary election result. Congressman Javier Milei, a far-right libertarian…
