Reuters: Business News

    Uber, Didi slam Mexico City's new rules on ride-hailing, including cash ban


    Uber, Didi Chuxing and other ride-hailing firms on Thursday criticized a host of new regulations of the sector in Mexico's capital city, which include a ban on cash fares that could exclude many potential customers who lack bank accounts. ...

    Uber, Didi Chuxing and other ride-hailing firms on Thursday criticized a host of new regulations of the sector in Mexico's capital city, which include a ban on cash fares that could exclude many potential customers who lack bank accounts.

    Amazon raises stakes for rivals with one-day delivery goal after profit surge


    Amazon.com Inc plans to deliver packages to members of its loyalty club Prime in just one day, instead of two days, part of a spending ramp-up that may curb near-term profits and will up the ante for retail rivals such as Walmart Inc. ...

    Amazon.com Inc plans to deliver packages to members of its loyalty club Prime in just one day, instead of two days, part of a spending ramp-up that may curb near-term profits and will up the ante for retail rivals such as Walmart Inc.

    Brent slips from $75 per barrel as investors doubt rally will endure


    Oil prices eased after Brent touched $75 per barrel on Thursday for the first time in nearly six months on the suspension of some Russian crude exports to Europe as investors second-guessed the market's ability to rally further. ...

    Oil prices eased after Brent touched $75 per barrel on Thursday for the first time in nearly six months on the suspension of some Russian crude exports to Europe as investors second-guessed the market's ability to rally further.

    Uber to kick off investor road show with IPO terms on Friday


    Ride-hailing company Uber Technologies Inc will unveil terms for its initial public offering on Friday, telling investors it will seek to be valued at between $80 billion and $90 billion, according to people familiar with the matter. ...

    Ride-hailing company Uber Technologies Inc will unveil terms for its initial public offering on Friday, telling investors it will seek to be valued at between $80 billion and $90 billion, according to people familiar with the matter.

    Ford more confident of stronger 2019 despite 'volatile environment'


    Ford Motor Co on Thursday posted a better-than-expected first quarter largely due to strong pickup truck sales in its core U.S. market and said it was more confident in its forecast 2019 would bring better results than last year. ...

    Ford Motor Co on Thursday posted a better-than-expected first quarter largely due to strong pickup truck sales in its core U.S. market and said it was more confident in its forecast 2019 would bring better results than last year.

    Intel cuts forecast as China data center sales remain weak


    Chipmaker Intel Corp on Thursday cut its full-year revenue forecast and missed analysts' estimates for first-quarter sales for the data center business that has driven growth as PC sales declined in recent years, sending its shares down as much as 7.5%. ...

    Chipmaker Intel Corp on Thursday cut its full-year revenue forecast and missed analysts' estimates for first-quarter sales for the data center business that has driven growth as PC sales declined in recent years, sending its shares down as much as 7.5%.

    T-Mobile U.S. profit beats estimates as it signs up more customers


    T-Mobile US Inc first-quarter revenue and profit jumped from a year earlier, beating Wall Street's estimates, as competitive pricing lured new subscribers to its monthly cellphone plans. ...

    T-Mobile US Inc first-quarter revenue and profit jumped from a year earlier, beating Wall Street's estimates, as competitive pricing lured new subscribers to its monthly cellphone plans.

    New York investigating Facebook over storage of 'unauthorized' email contacts


    New York Attorney General Letitia James said on Thursday she is investigating Facebook Inc's unauthorized storage of up to 1.5 million Facebook users' email contact databases, the latest privacy issue to affect the U.S. social media giant. ...

    New York Attorney General Letitia James said on Thursday she is investigating Facebook Inc's unauthorized storage of up to 1.5 million Facebook users' email contact databases, the latest privacy issue to affect the U.S. social media giant.

    New coffees, delivery push fuel Starbucks quarterly sales, profit view


    Starbucks Corp raised its full-year profit forecast and beat Wall Street estimates for quarterly same-store sales on Thursday, as its new Cloud Macchiato, Matcha tea and cold brews in the United States and speedy delivery network in China drew more...

    Starbucks Corp raised its full-year profit forecast and beat Wall Street estimates for quarterly same-store sales on Thursday, as its new Cloud Macchiato, Matcha tea and cold brews in the United States and speedy delivery network in China drew more customers.

    Warren Buffett says Berkshire could buy back $100 billion stock: FT


    Warren Buffett said his conglomerate Berkshire Hathaway Inc could repurchase as much as $100 billion of its stock, the Financial Times said on Thursday without providing a time frame, citing a recent interview with the billionaire. ...

    Warren Buffett said his conglomerate Berkshire Hathaway Inc could repurchase as much as $100 billion of its stock, the Financial Times said on Thursday without providing a time frame, citing a recent interview with the billionaire.

    Drugmakers Astellas, Amgen to pay $125 million in U.S. charity kickback probe


    Two drugmakers will pay nearly $125 million to resolve claims they used charities that help cover Medicare patients' out-of-pocket drug costs as a way to pay kickbacks aimed at encouraging the use of their high-priced medications, the U.S. Justice...

    Two drugmakers will pay nearly $125 million to resolve claims they used charities that help cover Medicare patients' out-of-pocket drug costs as a way to pay kickbacks aimed at encouraging the use of their high-priced medications, the U.S. Justice Department said on Thursday.

    Canada watchdog to seek court order to force Facebook to follow privacy laws


    Facebook Inc broke Canadian privacy laws when it collected the information of some 600,000 citizens, a top watchdog said on Thursday, pledging to seek a court order to force the social media giant to change its practices. ...

    Facebook Inc broke Canadian privacy laws when it collected the information of some 600,000 citizens, a top watchdog said on Thursday, pledging to seek a court order to force the social media giant to change its practices.

    S&P 500 nudges lower as industrials drag


    The S&P 500 closed just barely lower on Thursday, as a dive in industrial stocks and concerns about slowing global growth eclipsed gains in Facebook and Microsoft. ...

    The S&P 500 closed just barely lower on Thursday, as a dive in industrial stocks and concerns about slowing global growth eclipsed gains in Facebook and Microsoft.

    Corporate profits and U.S. economy chug along, defying recession fears


    After months of handwringing about the possible crash-landing of the housing market, investors awaiting quarterly earnings from No. 3 U.S. homebuilder PulteGroup Inc this week were ready for the worst. ...

    After months of handwringing about the possible crash-landing of the housing market, investors awaiting quarterly earnings from No. 3 U.S. homebuilder PulteGroup Inc this week were ready for the worst.

    Facebook users care less about privacy than regulators


    Facebook Inc is preparing for a record-setting fine from U.S. regulators over privacy issues, but Wall Street shrugged at the looming penalty after the company added users and trounced profit expectations for the first quarter. ...

    Facebook Inc is preparing for a record-setting fine from U.S. regulators over privacy issues, but Wall Street shrugged at the looming penalty after the company added users and trounced profit expectations for the first quarter.

    World stocks slip as growth fears linger; euro slides


    The dollar rose to almost a two-year high against the euro on Thursday on an upbeat U.S. capital goods report, while world equities slid as weak economic data from South Korea and a profit warning from 3M Co renewed concerns about global growth. ...

    The dollar rose to almost a two-year high against the euro on Thursday on an upbeat U.S. capital goods report, while world equities slid as weak economic data from South Korea and a profit warning from 3M Co renewed concerns about global growth.

    Morgan Stanley to pay $150 million to settle California crisis-era mortgage charges


    Morgan Stanley will pay $150 million to settle charges it misled two large California public pension funds about the risks of mortgage-backed securities they bought in the years leading up to the 2008 global financial crisis. ...

    Morgan Stanley will pay $150 million to settle charges it misled two large California public pension funds about the risks of mortgage-backed securities they bought in the years leading up to the 2008 global financial crisis.

    T Mobile, Sprint face new FCC questions on tie-up


    T-Mobile US Inc and Sprint Corp executives this week urged senior U.S. regulators to approve the proposed tie-up, saying the combined company would have the incentive to slash prices, according to a filing on Thursday. ...

    T-Mobile US Inc and Sprint Corp executives this week urged senior U.S. regulators to approve the proposed tie-up, saying the combined company would have the incentive to slash prices, according to a filing on Thursday.

    Southwest CEO says sticking with Boeing 737 MAX, no current plans for new models


    Southwest Co Chief Executive Gary Kelly said on Thursday the company was sticking with its plan to keep growing its fleet with the 737 MAX made by Boeing Co and does not plan to order different aircraft models any time soon. ...

    Southwest Co Chief Executive Gary Kelly said on Thursday the company was sticking with its plan to keep growing its fleet with the 737 MAX made by Boeing Co and does not plan to order different aircraft models any time soon.

    Southwest Airlines says bookings strong even as 737 MAX grounded


    Southwest Airlines Co forecast better-than-expected second-quarter revenue growth on Thursday, citing demand from leisure and business customers, even though it is uncertain when its grounded Boeing 737 MAX jets will return to service. ...

    Southwest Airlines Co forecast better-than-expected second-quarter revenue growth on Thursday, citing demand from leisure and business customers, even though it is uncertain when its grounded Boeing 737 MAX jets will return to service.