Business news

• VW agrees to fix, buy back more polluting U.S. diesel vehicles

  20-12-2016 23:57 via news.yahoo.com
  
  By David Shepardson WASHINGTON (Reuters) - Volkswagen AG has agreed to a $1 billion settlement to fix or buy back another 80,000 polluting diesel vehicles sold in the United States as the German automaker on Tuesday took new steps to put its emissions cheating scandal behind it. The settlement deal covered luxury VW, Audi and Porsche vehicles with 3.0-liter engines, meaning Volkswagen has now agreed to spend as much as $17.5 billion in the United States to resolve claims from owners as well as f
  
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• Ford shutting Kansas City plant for a week, GM lays off shift in Detroit

  20-12-2016 23:54 via news.yahoo.com
  
  Ford Motor Co will close its Kansas City, Missouri pickup truck and van plant for a week in early January to match production and demand, the automaker said on Tuesday. The plant makes F-150 pickup trucks and Ford Transit vans. Ford also closed the Kansas City plant for a week a couple of months ago.
  
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• Airbus delays delivery of A321neo jets to Hawaiian Air

  20-12-2016 23:50 via news.yahoo.com
  
  Hawaiian Holdings Inc has announced an anticipated three-month delay on a delivery of A321neos from Airbus , months after the European plan manufacturer appeared to be getting back on track to its 2016 delivery goals. Hawaiian said in a filing posted to its website on Monday that Airbus had notified it of the holdup on the three narrow-body jets, pushing their expected delivery to the fourth quarter of 2017. The carrier did not detail the cause of the delay, but "Airbus mentioned on its last ear
  
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• Alberta's 'bittersweet' recovery: Don't expect a job surge soon, TD warns

  20-12-2016 23:33 via cbc.ca
  
  Alberta's economy is still expected to lead the country in growth over the next two years, according to the latest forecast from TD Economics, but the report warns that doesn't mean jobs will suddenly come surging back to the province.
  
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• SUSE Linux Enterprise Server 12 for Raspberry Pi: An intriguing option for data centers

  20-12-2016 23:29 via techrepublic.com
  
  SUSE has opened a world of possibility for the Raspberry Pi. Could one of those doors lead to your data center? Jack Wallen ponders the possibility.
  
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• Nike's revenue, profit beat estimates

  20-12-2016 22:55 via news.yahoo.com
  
  (Reuters) - Nike Inc, the world's No. 1 footwear maker, reported better-than-expected quarterly revenue and profit, fueled by higher demand across markets such as Western Europe and Greater China and lower costs. Sales in North America, its biggest market, rose 3 percent to $3.65 billion in the second quarter ended Nov. 30. Nike has been facing intensifying competition from rivals such as Under Armour Inc and Adidas AG in North America.
  
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• Nike's revenue beats estimates

  20-12-2016 22:43 via news.yahoo.com
  
  (Reuters) - Nike Inc , the world's No. 1 footwear maker, reported better-than-expected quarterly revenue, helped by higher demand from Western Europe, Greater China and emerging markets. The company's shares were up 4 percent at $53.89 in after-market trading on Tuesday. Nike's net income rose to $842 million, or 50 cents per share, in the second quarter ended Nov. 30, from $785 million, or 45 cents per share, a year earlier. Revenue climbed to $8.18 billion from $7.69 billion. Analysts on avera
  
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• VW will fix, buy back more polluting U.S. diesel vehicles

  20-12-2016 22:40 via news.yahoo.com
  
  By David Shepardson WASHINGTON (Reuters) - Volkswagen AG has reached an agreement for a mix of buybacks and fixes for about 80,000 polluting 3.0-liter diesel VW, Porsche and Audi vehicles, a U.S. federal judge said on Tuesday, as the German automaker took another step to put a diesel emissions cheating scandal behind it. During a hearing in San Francisco, U.S. District Judge Charles Breyer also said German engineering company Robert Bosch GmbH, which produced the software for the VW diesels, has
  
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• Nasdaq rises to record, Dow bats eyes at 20,000

  20-12-2016 22:35 via news.yahoo.com
  
  The Dow Jones industrial average ended just 25 points shy of 20,000, a level it has never breached, helped by a 1.68 percent gain in Goldman Sachs . U.S. stocks have been on a tear since the Nov. 8 presidential election, with the Dow up 9 percent and the S&P 500 gaining 6 percent on bets that Trump's plans for deregulation and infrastructure spending will boost the economy. Some investors believe stocks have become expensive.
  
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• American Airlines wins $5 million in antitrust case against Sabre

  20-12-2016 22:34 via news.yahoo.com
  
  American Airlines Group Inc on Tuesday was awarded nearly $5.1 million in an antitrust lawsuit that accused airline booking service Sabre Corp of harming competition and charging it grossly inflated booking fees. A federal jury in Manhattan found Southlake, Texas-based Sabre liable for unreasonably restraining trade through contractual provisions, awarding a sum that under federal antitrust laws can be tripled to $15 million. The jury rejected a separate claim that Sabre had conspired with its c
  
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• Volkswagen in deal to compensate U.S. owners of 3-litre diesel vehicles

  20-12-2016 21:13 via cbc.ca
  
  Volkswagen reached a deal with U.S. regulators and attorneys for car owners for the remaining 80,000 diesel vehicles caught in the company's emissions cheating scandal, a federal judge announced Tuesday.
  
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• Linde, Praxair agree $65 billion merger outline, ambitious cost savings

  20-12-2016 21:09 via news.yahoo.com
  
  By Ludwig Burger FRANKFURT (Reuters) - German industrial gases group Linde and U.S. suitor Praxair have agreed an outline for a $65 billion-plus merger, with the combined company to be run out of the United States by Praxair's chief executive. The agreement, unveiled on Tuesday, comes after Praxair provided new assurances to Linde over jobs and corporate governance in Germany, sources have said.
  
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• iPhone 8: Apple's curved plastic display and other rumors

  20-12-2016 20:52 via techrepublic.com
  
  A reported leak claims that Apple's next iPhone will feature a curved screen made of plastic. Here are the details, and other rumors.
  
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• U.S. probes 1 million Fiat Chrysler vehicles for roll-away crashes

  20-12-2016 20:44 via news.yahoo.com
  
  U.S. vehicle safety officials said on Tuesday they have launched an investigation into about a million Fiat Chrysler Ram pickup trucks and SUVs prompted by complaints by some owners that the vehicles rolled away and crashed after being parked. The issues being investigated by the U.S. National Highway Traffic Safety Administration are similar the one cited in the June death in Los Angeles of Russian-born actor Anton Yelchin of the recent "Star Trek" movies. Fiat Chrysler Automobiles NV said it i
  
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• U.S. probes one million Fiat Chrysler vehicles for roll-away crashes

  20-12-2016 20:04 via news.yahoo.com
  
  U.S. vehicle safety officials said on Tuesday they have launched an investigation into about a million Fiat Chrysler Ram pickup trucks and SUVs prompted by complaints by some owners that the vehicles rolled away and crashed after being parked. The issues being investigated by the U.S. National Highway Traffic Safety Administration are similar the one cited in the June death in Los Angeles of Russian-born actor Anton Yelchin of the recent "Star Trek" movies. Fiat Chrysler Automobiles NV said it i
  
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• Sanofi's takeover talks with Actelion progressing: source

  20-12-2016 20:01 via news.yahoo.com
  
  Talks between Actelion and Sanofi are making progress, despite investors' fears that the Swiss biotech firm's chief executive and founder might not want to sell, a person with direct knowledge of the situation said on Tuesday. The source said Actelion had now reached a point where the company needed to sign a deal and it could not call off negotiations with the French drugmaker without triggering an investor rebellion demanding the overthrow of its board. Actelion's share price has fallen more t
  
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• Tim Cook says 'great desktops' are on the way for Apple

  20-12-2016 19:57 via techrepublic.com
  
  Amid rumors that Apple was phasing out its Mac desktop line, Cook recently told employees that new desktops are 'in our roadmap.' Here's what you need to know.
  
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• Ford halting Venezuela production until April, executive says

  20-12-2016 19:42 via news.yahoo.com
  
  Ford Motor Co halted auto production in Venezuela last week and will not resume it until April, a company executive said on Tuesday, in another blow to the crisis-wracked country's manufacturing sector. "It is a measure to adjust production to demand in the country," Lyle Watters, Ford's president for South America, told reporters at an event in São Paulo, adding that the plant affected by the shutdown employs 2,000 workers. Watters said the production freeze would not affect Ford's conso
  
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• U.S., Canada ban offshore drilling in Arctic waters

  20-12-2016 19:41 via cbc.ca
  
  President Barack Obama designated the bulk of U.S.-owned waters in the Arctic Ocean and certain areas in the Atlantic Ocean as indefinitely off limits to future oil and gas leasing. Canadian Prime Minister Justin Trudeau also placed a moratorium on new oil and gas leasing in its Arctic waters.
  
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• U.S. government investigates 1 million more FCA vehicles for rollaway issues

  20-12-2016 19:23 via cbc.ca
  
  Investigation by the National Highway Traffic Safety Administration covers Fiat Chrysler's top-selling vehicle, the Ram 1500 pickup, from the 2013 to 2016 model years, as well as the 2014 to 2016 Dodge Durango SUV.
  
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• Dow takes another shot at 20,000

  20-12-2016 19:19 via news.yahoo.com
  
  The Nasdaq and the Dow had hit fresh records earlier in the day, with the blue-chip index falling just 13 points short of scaling the historic mark. Goldman Sachs , which was up 1.1 percent, gave the biggest boost to the Dow. U.S. stocks have been on a tear since the Nov. 8 presidential election, with the Dow up 9 percent and the S&P 500 more than 6 percent on bets that President-elect Donald Trump's plans for deregulation and infrastructure spending will boost the economy.
  
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• Sanofi talks with Actelion progressing: source

  20-12-2016 18:37 via news.yahoo.com
  
  Talks between Actelion and Sanofi are making progress, despite investors' anxiety as to whether the Swiss biotech firm's chief executive really wants a deal, a person with direct knowledge of situation said on Tuesday. The source said Actelion had now reached a point where the company needed to sign a deal and it could not call off negotiations with the French drugmaker without triggering an investor rebellion demanding the overthrow of its board. Actelion's share price has fallen more than 7 pe
  
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• Ford to resume Venezuela production next April, executive says

  20-12-2016 18:35 via news.yahoo.com
  
  SAO PAULO (Reuters) - Ford Motor Co. will resume production in Venezuela in April 2017 after halting it last week, an executive said on Tuesday.
  
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• Dow closing in on 20,000; Nasdaq hits record high

  20-12-2016 18:14 via news.yahoo.com
  
  Goldman Sachs , which was up about 1 percent, gave the biggest boost to the Dow. U.S. stocks have been on a tear since the Nov. 8 presidential election, with the Dow up 9 percent and S&P more than 6 percent on bets that President-elect Donald Trump's plans for deregulation and infrastructure spending will boost the economy. "It's just the momentum since the election," said Jeff Zipper, managing director for investments at Private Client Reserve at U.S. Bank in Palm Beach, Florida.
  
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• Linde, Praxair agree outline for $65 billion merger and ambitious cost savings

  20-12-2016 17:56 via news.yahoo.com
  
  By Ludwig Burger FRANKFURT (Reuters) - German industrial gases group Linde and U.S. suitor Praxair have agreed an outline for a $65 billion-plus merger, with the combined company to be run out of the United States by Praxair's chief executive. The agreement, unveiled on Tuesday, comes after Praxair provided new assurances to Linde over jobs and corporate governance in Germany, sources have said.
  
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• Banks loosen lending standards for fourth straight year: U.S. regulator

  20-12-2016 17:45 via news.yahoo.com
  
  Large U.S. banks raised their own risks by pushing down lending standards for a fourth consecutive year in 2016, one of the top federal banking regulators said on Tuesday. The banks loosened underwriting standards mostly in direct consumer loans, conventional home equity, commercial real estate loans, and residential mortgages, the Office of the Comptroller of the Currency (OCC) found in its annual survey. "If such trends continue, increasing credit risk could accelerate," the report warned.
  
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• U.S. probes a million Fiat Chrysler vehicles for roll-away crashes

  20-12-2016 17:37 via news.yahoo.com
  
  By David Shepardson WASHINGTON (Reuters) - U.S. vehicle safety officials said on Tuesday they have launched an investigation into about a million Fiat Chrysler Ram pickup trucks and SUVs prompted by complaints by some owners that the vehicles rolled away and crashed after being parked. The issues being investigated by the U.S. National Highway Traffic Safety Administration are similar the one cited in the June death in Los Angeles of Russian-born actor Anton Yelchin of the recent "Star Trek" mov
  
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• Police can force you to give up your iPhone password, Florida court rules

  20-12-2016 17:30 via techrepublic.com
  
  A Florida judge recently ruled that the Fifth Amendment did not protect an iPhone user from releasing his passcode to be used in a case. Here's what it could mean for the future of digital privacy.
  
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• Why Google Fiber failed: 5 reasons

  20-12-2016 17:22 via techrepublic.com
  
  The future is still uncertain for Google Fiber, but it's pretty clear that the first iteration of the search giant's internet service has fallen short. Here's why it struggled to gain traction.
  
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• Morgan Stanley to pay $7.5 million over customer protection violations

  20-12-2016 17:09 via news.yahoo.com
  
  Morgan Stanley will pay $7.5 million to settle civil charges that it violated customer protection rules when it used trades involving customer cash to lower its borrowing costs, U.S. securities regulators said on Tuesday. The Securities and Exchange Commission said Morgan Stanley will settle the case without admitting or denying the charges. "Morgan Stanley takes its obligations to protect customer assets very seriously, which is why the firm moved promptly to rectify the issues addressed in the
  
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• 3 ways to connect your private network to the public cloud

  20-12-2016 16:50 via techrepublic.com
  
  As hybrid infrastructures grow in popularity, the need to securely connect private and public data centers grows. Read three popular public cloud connection options.
  
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• Rite Aid to sell 865 stores to Fred's

  20-12-2016 16:36 via news.yahoo.com
  
  Fred's shares jumped 73 pct to $19.34 in morning trading on Tuesday, while Rite Aid shares were up 5.6 pct at $8.63. Rite Aid and Walgreens were widely expected to divest stores in states where the combined company would have a particularly strong position. Walgreens has 13,200 stores, nearly 60 percent of which are in the United States, while Rite Aid has 4,570 stores in the United States.
  
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• Allergan to buy Acelity's tissue unit LifeCell for $2.9 billion

  20-12-2016 16:32 via news.yahoo.com
  
  LifeCell makes regenerative tissue products that are commonly used in breast reconstruction procedures and complex hernia surgeries to provide soft tissue support. The products will support Allergan's portfolio of medical aesthetics, breast implants and tissue expanders, the company said. Allergan Chief Executive Brent Saunders has described the company's acquisition strategy as being one of "stepping stones." Allergan's deal to sell itself last year to Pfizer Inc for $160 billion was dropped du
  
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• Morgan Stanley to pay $7.5 million over customer protection rule violations

  20-12-2016 16:23 via news.yahoo.com
  
  WASHINGTON (Reuters) - Morgan Stanley will pay $7.5 million to settle civil charges that it violated customer protection rules when it used trades involving customer cash to lower its borrowing costs, U.S. securities regulators said Tuesday.
  
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• Kimberly-Clark, rival CMPC allegedly fixed Chile diaper prices-report

  20-12-2016 16:14 via news.yahoo.com
  
  Kimberly-Clark Corp and competitor CMPC allegedly fixed prices for diaper products in Chile between 2002 and 2009, according to a document sent to the nation's competition regulator, daily newspaper La Tercera reported on Tuesday. The companies agreed on price hikes, coordinated promotional activities, and shared information regarding pricing that would have affected the tissue and sanitary businesses, according to the document, which was written by CMPC and sent to the regulator, FNE. "Kimberly
  
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• Former Amaya CEO David Baazov walks away from bid to buy Montreal gaming company

  20-12-2016 16:12 via cbc.ca
  
  David Baazov, the founder and former CEO of Amaya, is walking away from his bid to acquire the Montreal gaming company, saying investors want a bigger premium than his proposed offer for $24 per share.
  
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• Exclusive: Financing hitches could delay Hapag Lloyd, UASC shipping tie-up - sources

  20-12-2016 16:04 via news.yahoo.com
  
  LONDON/FRANKFURT (Reuters) - A merger of German container shipping line Hapag-Lloyd and United Arab Shipping Company (UASC) is likely to take months to complete, partly due to financing issues blamed on a deep industry downturn, sources familiar with the deal say. Hapag-Lloyd signed a binding agreement with UASC in July to form the world's fifth-largest line, valued at about 7 to 8 billion euros ($7.2-$8.3 billion), by the end of 2016. Global container shipping is suffering its worst downturn ca
  
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• Artificial intelligence: The 3 big trends to watch in 2017

  20-12-2016 15:34 via techrepublic.com
  
  AI is now woven into our lives at work and home, and 2016 saw major advancements in driverless technology, voice recognition, and deep learning. Here are three major areas to watch in 2017.
  
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• Canadian company acquires rival for $1.13B in play to become world's biggest polymer bill maker

  20-12-2016 15:22 via cbc.ca
  
  Toronto-based CCL Industries Inc. will pay $1.13 billion to buy its British rival Innovia in a bid to become one of the the world's biggest makers of polymer banknotes.
  
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• Linde, Praxair agree on outline for 50-50 merger

  20-12-2016 14:47 via news.yahoo.com
  
  By Ludwig Burger FRANKFURT (Reuters) - Linde AG , the German company that revived merger talks this month with U.S. rival Praxair Inc , has come to an agreement with its counterpart on key aspects of an all-share deal to create a $65 billion industrial gases group. Under the proposed merger, existing Linde and Praxair shareholders would each own about 50 percent of the combined company and its chief executive would be based in the United States. The agreement comes after Praxair provided new ass
  
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• Dollar hits new 14-year high, Dow sets sights on 20,000

  20-12-2016 14:43 via news.yahoo.com
  
  By Marc Jones LONDON (Reuters) - The dollar hit a 14-year high on Tuesday as the yen fell after the Bank of Japan stuck to its ultra-loose monetary policy and the euro weakened following deadly attacks in Germany and Turkey. On Wall Street, the Dow appeared set for another run at 20,000 points , as concern after the attacks in Europe were offset by reassurance over Italy's plan to spend up to 20 billion euros ($21 billion) to rescue its troubled banks. On currency markets, a sense of caution aft
  
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• UK PM and Murdoch did not discuss Sky bid at September meeting: minister

  20-12-2016 14:31 via news.yahoo.com
  
  Prime Minister Theresa May did not discuss with Rupert Murdoch the proposed takeover of UK pay-TV group Sky by the tycoon's Twenty-First Century Fox at a September meeting, Britain's media minister said on Tuesday. May had met Murdoch during a meeting in New York, three months before Fox launched its approach for Sky earlier in December. "She (May) had a pre-arranged meeting with Wall Street Journal editors," Secretary of State for Culture, Media and Sport Karen Bradley told parliament in reply
  
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• BlackBerry sold just $62 million worth of smartphones last quarter

  20-12-2016 14:23 via cbc.ca
  
  BlackBerry posted an adjusted profit that beat expectations on Tuesday even as revenue dropped sharply because software growth was not enough to fully make up for its retreat from handsets and lost service fees.
  
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• BlackBerry ups outlook, adjusted earnings beat; shares rise

  20-12-2016 14:13 via news.yahoo.com
  
  By Alastair Sharp and Allison Martell TORONTO (Reuters) - BlackBerry Ltd on Tuesday posted an adjusted profit that beat expectations even as revenue dropped sharply, as the software growth it is relying on failed to fully make up for its retreat from handsets and lost service fees. The Canadian smartphone pioneer has gone through a wrenching transition in recent years featuring huge writedowns and job cuts as it seeks to build up a software business not tied directly to its eponymous smartphones
  
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• Apple's new AirPods tough to recycle: report

  20-12-2016 14:02 via news.yahoo.com
  
  By Stephen Nellis SAN FRANCISCO (Reuters) - Apple Inc's new wireless headphones could be a problem for recyclers, according to an electronics firm that took apart the device to review its component parts. Apple has been promoting a more environmentally conscious image for the company after having come under fire in the past for constructing its devices so tightly that their components can be difficult to cost-effectively disassemble for recycling. "They're basically saying this is the future of
  
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• 5 DevOps predictions for 2017

  20-12-2016 14:00 via techrepublic.com
  
  DevOps saw a lot of container adoption by enterprises and more companies bolstering their offerings in 2016. Security improvements, containerization, and consolidation are on the horizon for next year.
  
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• Raspberry Pi in 2017: New boards, new OSes and more

  20-12-2016 13:44 via techrepublic.com
  
  What new hardware and software is likely in the pipeline for the bestselling $35 credit card-sized board?
  
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• Exclusive: Top French banks sue ECB to reduce capital demands

  20-12-2016 13:39 via news.yahoo.com
  
  FRANKFURT/PARIS (Reuters) - France's top lenders are suing the European Central Bank to get an exemption from holding capital against deposits parked with a state-owned fund, the most high-profile challenge to supervision from Frankfurt to date. As well as providing euro zone banks with funding, the ECB has been their main regulator for the past two years, tasked with ending cozy relationships between the industry and national authorities that contributed to the financial crisis. The lawsuits ha
  
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• Russia central bank says Deutsche Bank employee manipulated markets

  20-12-2016 13:36 via news.yahoo.com
  
  Russia's central bank said on Tuesday that a banker at Deutsche Bank's Russian branch had manipulated markets by conducting 300 billion rubles ($4.87 billion) of trades with relatives over two and a half years. The central bank said the trades, which were made between January 2013 and July 2015, had generated a profit of 255 million rubles ($4.14 million) for Deutsche Bank employee Yuri Khilov and three relatives.
  
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• Linde, Praxair agree on essential terms of merger of equals

  20-12-2016 13:26 via news.yahoo.com
  
  Linde AG, the German company that earlier this month revived merger talks with U.S. rival Praxair Inc, said it had come to an agreement with its counterpart on key aspects of the deal to create a $65 billion industrial gases giant. Current Linde and Praxair shareholders would each own about 50 percent of the combined company, based on proposed exchange ratios of 1.54 shares in the new holding company for each Linde share and one share in the new holding company for each Praxair share, Linde said
  
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