Business News

  • Italy bank deal lifts Europe shares, dollar on back foot

    LONDON (Reuters) - Shares rose in Europe on Monday, with Italian banks gaining after a deal to wind up two failed regional lenders, while the dollar and U.S. bond yields held close to recent lows as subdued inflation raised questions over the outlook for monetary policy.

  • Facebook in talks to produce original TV-quality shows: WSJ

    (Reuters) - Facebook Inc is in talks with Hollywood studios about producing scripted, TV-quality shows, with an aim of launching original programming by late summer, the Wall Street Journal reported on Sunday.

  • Oil edges above November lows but under threat from U.S. supply surge

    LONDON (Reuters) - Oil rose for a third straight session on Monday, as speculators took advantage of last week's drop to seven-month lows, although a relentless increase in U.S. supply and little evidence of a widespread drop in global inventories capped gains.

  • Japanese airbag maker Takata files for bankruptcy, gets U.S. sponsor

    TOKYO (Reuters) - Japan's Takata Corp <7312.T>, the firm at the centre of the auto industry's biggest ever product recall, filed for bankruptcy protection in the United States and Japan, and said it would be bought for $1.6 billion by U.S.-based Key Safety Systems.

  • 'Pharma bro' Martin Shkreli heads into fraud trial

    NEW YORK (Reuters) - Martin Shkreli, the pharmaceutical entrepreneur vilified as the "pharma bro" for raising the price of a life-saving drug by 5,000 percent, will go on trial on Monday for what U.S. prosecutors called a Ponzi-like scheme at his former hedge fund and a drug company he once ran.

  • Nestle 'committed' to strategy as activist investor moves in

    LONDON (Reuters) - Nestle , the world's largest food maker, remains committed to its strategy, as it faces criticism from activist shareholder Third Point from the United States.

  • Clogged oil arteries slow U.S. shale rush to record output

    GUERNSEY, WYOMING (Reuters) - A gallon of gasoline that allows a driver on the U.S. East Coast to travel about 25 miles has already navigated thousands of miles from an oil field to one of the world's largest fuel markets.

  • EU court seen ruling on Intel antitrust case next year: judge

    PARIS (Reuters) - Europe's top court is likely to rule on Intel's appeal against a record 1.06 billion euro ($1.19 billion) EU antitrust fine next year, an EU judge said on Monday, a case that may affect companies such as Google and Qualcomm in the EU's crosshairs.

  • Loeb's Third Point targets 'staid' Nestle for change

    (Reuters) - Activist investor Daniel Loeb's Third Point LLC on Sunday unveiled a stake of more than 1 percent in Switzerland's Nestle SA and urged the world's largest packaged foods maker to improve margins, buy back stock and shed non-core businesses.

  • China jails Crown Resorts staff over gambling crimes

    SHANGHAI (Reuters) - A Chinese court jailed 16 employees of Crown Resorts Ltd, including three Australians, in a quick-fire trial on Monday that caps a lengthy probe into how the firm lured Chinese high-rollers to its casinos.

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