Business news

• Exclusive: Citadel nears SEC settlement over customer orders - sources

  12-01-2017 23:06 via news.yahoo.com
  
  Citadel LLC has agreed to settle accusations by the U.S. Securities and Exchange Commission that its market-making arm misled customers about the routing of their stock orders, people familiar with the case told Reuters this week. SEC commissioners were expected to vote to approve the settlement during their Thursday afternoon meeting, said two sources, who were not authorized to speak publicly about the matter. Terms of the settlement, including the specifics of the SEC's allegations and the am
  
  Read more

• Exclusive: Morgan Stanley cuts bankers, bonuses as deals, IPOs stall - sources

  12-01-2017 23:01 via news.yahoo.com
  
  Individual bankers were awarded different amounts depending on performance and geographic region, though many received a smaller paycheck for 2016, said the sources on Thursday, who were not authorized to discuss compensation publicly. Morgan Stanley, which ranked fourth for investment banking fees last year, cut more than 20 managing directors from its investment banking division globally, representing about 5 percent of the total, the sources said. Morgan Stanley also announced the promotion o
  
  Read more

• Wall St. falls before earnings and on U.S. policy uncertainty

  12-01-2017 22:43 via news.yahoo.com
  
  The three major U.S. stock indexes closed lower on Thursday as investors waited for fourth-quarter corporate earnings and details of U.S. President-elect Donald Trump's economic policy eight days ahead of his inauguration. While stocks pared losses as the session wore on, all but four of the S&P 500's 11 sectors ended lower, with financials leading the decline a day ahead of the first major earnings reports in that sector. The S&P had risen 6.4 percent since the Nov. 8 election.
  
  Read more

• U.S. judge orders Volkswagen executive detained

  12-01-2017 22:27 via news.yahoo.com
  
  MIAMI/NEW YORK (Reuters) - A U.S. judge on Thursday ordered a Volkswagen executive charged in the Justice Department's diesel emissions investigation held without bail pending trial. Oliver Schmidt was arrested Saturday at Miami's International Airport as he planned to fly home after a vacation. U.S. Magistrate Judge William Turnoff ruled Schmidt was a flight risk.
  
  Read more

• Advertisement

• Takata to pay $1 billion to settle U.S. air bag probe: sources

  12-01-2017 22:07 via news.yahoo.com
  
  Japan's Takata Corp is expected to plead guilty to fraud charges as early as Friday as part of a $1 billion settlement with the U.S. Justice Department over its handling of air bag ruptures linked to 16 deaths worldwide, sources said. It could help Takata win financial backing from an investor to potentially restructure and pay for massive liabilities from the world's biggest auto safety recall. In 2015, Takata admitted in a separate $70 million settlement with U.S. auto safety regulators that i
  
  Read more

• Amazon to add more than 100,000 jobs in U.S. hiring spree

  12-01-2017 22:04 via news.yahoo.com
  
  By Jeffrey Dastin and Emily Stephenson NEW YORK/WASHINGTON (Reuters) - Amazon.com Inc on Thursday said it will create more than 100,000 jobs in the United States, from software development to warehouse work, in its latest move to win over shoppers by investing in faster delivery. The world's largest online retailer will grow its full-time U.S. workforce by more than 50 percent to over 280,000 in the next 18 months, it said in a press release. Amazon is spending heavily on new warehouses so it ca
  
  Read more

• U.S. appeals court revives antitrust lawsuit against Apple

  12-01-2017 21:29 via news.yahoo.com
  
  SAN FRANCISCO (Reuters) - iPhone app purchasers may sue Apple Inc over allegations that the company monopolized the market for iPhone apps by not allowing users to purchase them outside the App Store, leading to higher prices, a U.S. appeals court ruled on Thursday. The 9th U.S. Circuit Court of Appeals ruling revives a long-simmering legal challenge originally filed in 2012 taking aim at Apple’s practice of only allowing iPhones to run apps purchased from its own App Store. A group of iPh
  
  Read more

• Pharma company executives debate drug pricing increases

  12-01-2017 20:56 via news.yahoo.com
  
  The pharmaceutical industry is typically reluctant to talk about U.S. drug prices, generally the highest in the world due to a combination of market fragmentation and free market policies. AbbVie Inc on Wednesday became the third global drugmaker to publicly promise to cap annual price increases at under 10 percent, following earlier pledges by Allergan Plc and Novo Nordisk A/S . "I do think that the industry is off to a good start in terms of good behavior," Allergan Chief Executive Officer Bre
  
  Read more

• Advertisement

• Fed officials see quick economic boost from Trump, risks to follow

  12-01-2017 20:46 via news.yahoo.com
  
  Federal Reserve officials cautioned on Thursday that the fiscal and tax plans sketched out by the incoming Trump administration could trade a short-term economic boost for longer-run inflation and debt problems they might have to counteract. In an array of appearances Fed regional bank presidents agreed in principle that the policies likely to be pursued by President-elect Donald Trump will raise economic growth - through direct spending, the consumption and investment spurred by tax cuts, and t
  
  Read more

• Takata to pay $1 billion in U.S. settlement: sources

  12-01-2017 20:37 via news.yahoo.com
  
  By David Shepardson NEW YORK (Reuters) - Japan's Takata Corp is expected to agree to plead guilty to charges as early as Friday as part of a $1 billion settlement with the U.S. Justice Department to resolve a government investigation into deadly air bag ruptures, sources said. The settlement includes a $25 million criminal fine, $125 million in victim compensation and $850 million to compensate automakers who have suffered losses from massive recalls, the sources said, as well as an independent
  
  Read more

• Amazon Alexa: The smart person's guide

  12-01-2017 20:24 via techrepublic.com
  
  Amazon Alexa is the leading digital assistant on the market. Find out more about this machine-learning innovation with our Alexa smart person's guide.
  
  Read more

• Wall St. set for worst day in 2017 as Trump-trade fizzles

  12-01-2017 20:17 via news.yahoo.com
  
  In his first news conference since election, Trump on Wednesday gave no details on tax cuts or infrastructure spending. "Some wind has been taken out of the reflation trade, at least for the short term," said Jeff Zipper, managing director at the Private Client Reserve, U.S. Bank in Florida. Despite the minor recovery, the Dow has further retreated from the 20,000-point mark, while the Nasdaq is set to snap a four-session streak of closing at record highs.
  
  Read more

• Cadbury owner Mondelez raises some prices on weak pound, higher cocoa cost

  12-01-2017 19:37 via news.yahoo.com
  
  Cadbury chocolate owner Mondelez International said it is taking selective price increases across its brands, as it grapples with higher commodity costs and a weaker British pound. Mondelez in November attracted consumer criticism when it changed the shape of its Toblerone bars, putting more space between its distinctive jagged peaks, in order to recoup some higher costs. Britain's Guardian newspaper reported that Mondelez was raising the price of its Freddo bars from 25 pence to 30 pence in the
  
  Read more

• Trump taps Rudy Giuliani to help with cybersecurity efforts

  12-01-2017 19:29 via techrepublic.com
  
  US President-elect Donald Trump will look to former New York City mayor Rudy Giuliani to share insight and expertise on private sector cybersecurity issues.
  
  Read more

• U.S. dairy groups urge Trump to set his sights on Canadian dairy policies

  12-01-2017 19:26 via cbc.ca
  
  U.S. dairy groups are calling on Donald Trump to set his sights on Canada's 'protectionist dairy practices as he seeks to safeguard American jobs.
  
  Read more

• Tech skills shortage: Amazon trains veterans to fill the gap

  12-01-2017 18:52 via techrepublic.com
  
  While debate still continues over the extent of the digital skills shortage, Amazon has launched a program that will provide tech industry training and job placements.
  
  Read more

• Ford expands Takata air bag recall, now affects three million vehicles

  12-01-2017 18:24 via news.yahoo.com
  
  Ford Motor Co said on Thursday it will recall about 816,000 vehicles as it widened previous actions affecting models with Takata Corp air bags. The move brings the number of vehicles with Takata air bag inflators recalled around the world by Ford to 3 million, most of them in the United States and Canada. The fresh recall by Ford follows one on Monday by Honda Motor Co for about 1.3 million vehicles in the United States.
  
  Read more

• EPA accuses Fiat Chrysler of excess diesel emissions

  12-01-2017 18:24 via news.yahoo.com
  
  By David Shepardson and Bernie Woodall NEW YORK/DETROIT (Reuters) - The U.S. Environmental Protection Agency on Thursday accused Fiat Chrysler Automobiles NV of illegally using hidden software that allowed significant excess diesel emissions, the result of a probe that stemmed from regulators' investigation of rival Volkswagen AG. The EPA action affects 104,000 U.S. trucks and SUVs sold since 2014, about one-sixth the number of vehicles than in the Volkswagen case.
  
  Read more

• Amazon announces U.S. hiring spree

  12-01-2017 18:21 via news.yahoo.com
  
  NEW YORK/WASHINGTON (Reuters) - Amazon.com Inc on Thursday said it plans to create more than 100,000 jobs in the United States, from software development to warehouse work, becoming the latest company to boast a hiring spree since Donald Trump won the U.S. presidential election in November. The world's largest online retailer will grow its full-time U.S. workforce by more than 50 percent to over 280,000 in the next 18 months, it said in a press release. Amazon is spending heavily on new warehous
  
  Read more

• Interview with a hacker: Kapustkiy from New World Hackers

  12-01-2017 17:56 via techrepublic.com
  
  New World Hackers claimed responsibility for the Dyn botnet attack. One of the group's database experts explains how he attacks networks, what happens to stolen data, and the mindset of a hacker.
  
  Read more

• Trump-branded Toronto hotel and condo tower up for sale

  12-01-2017 17:52 via cbc.ca
  
  Commercial real-estate firm CBRE Limited has launched the sale of the bulk of the Trump International Hotel and Tower in Toronto, with a minimum price for all assets set at $298 million.
  
  Read more

• US Department of Transportation establishes new federal automation committee

  12-01-2017 17:47 via techrepublic.com
  
  The new committee will begin meeting in mid-January to discuss policies, research, and regulations relative to vehicle automation.
  
  Read more

• Trump wades in on flap over L.L. Bean boycott threats

  12-01-2017 17:31 via news.yahoo.com
  
  By Scott Malone BOSTON (Reuters) - Donald Trump on Thursday tweeted his support of Maine catalog retailer L.L. Bean after an activist group opposed to the U.S. president-elect called for a boycott of the company. The boycott call began online last week after reports that a member of the Bean family that owns the company, best known for its rubber-bottomed hunting boots, had donated money to Trump's candidacy. "Thank you to Linda Bean of L.L. Bean for your great support and courage," Trump said i
  
  Read more

• AT&T chief executive, Trump meet amid planned Time Warner merger

  12-01-2017 17:30 via news.yahoo.com
  
  AT&T Chief Executive Officer Randall Stephenson had an hour-long meeting in New York on Thursday with U.S. President-elect Donald Trump, who has opposed the company's planned acquisition of Time Warner Inc . A spokeswoman for Trump confirmed the meeting after Stephenson was seen entering Trump Tower. A person briefed on the matter said Stephenson was meeting with the Trump transition team to discuss the $85.4 billion Time Warner deal.
  
  Read more

• U.S. alleges Fiat Chrysler cheated on emissions

  12-01-2017 17:07 via cbc.ca
  
  The U.S. government is accusing Fiat Chrysler of violating the Clean Air Act on some of its diesel engines installed in about 104,000 vehicles.
  
  Read more

• U.S. alleges Fiat Chrysler cheated on diesel engine emissions

  12-01-2017 17:07 via cbc.ca
  
  The U.S. government is accusing Fiat Chrysler of violating the Clean Air Act on some of its diesel engines installed in about 104,000 vehicles.
  
  Read more

• NAFTA's demise would devastate U.S. auto industry, think-tank's report says

  12-01-2017 17:01 via cbc.ca
  
  Pulling out of NAFTA could cost the U.S. economy more than 30,000 jobs in the auto sector alone, and lead to higher prices and less choice for American customers, an automotive research think-tank says.
  
  Read more

• Egg McMuffin for dinner? McDonald's tests all-day breakfast at some outlets

  12-01-2017 16:45 via cbc.ca
  
  McDonald's is testing all-day breakfast at 17 outlets in Ontario, Quebec and British Columbia following the U.S. launch in 2015.
  
  Read more

• Egg McMuffin for dinner? McDonald's tests all-day breakfast at some Canadian outlets

  12-01-2017 16:45 via cbc.ca
  
  McDonald's is testing all-day breakfast at 20 outlets in Ontario, Quebec, British Columbia, Alberta, Manitoba and Saskatchewan following the U.S. launch in 2015.
  
  Read more

• Las Vegas launches driverless shuttle bus test run on public roads

  12-01-2017 15:54 via techrepublic.com
  
  An autonomous shuttle developed by French company Navya began navigating Fremont Street in Las Vegas this week, offering free rides to citizens as part of a pilot test.
  
  Read more

• IBM Watson, FDA to use blockchain tech to build secure exchange for health data

  12-01-2017 15:50 via techrepublic.com
  
  IBM Watson Health and the FDA recently signed a research initiative looking at ways to leverage the blockchain to safely share sensitive health data, starting with oncology records.
  
  Read more

• U.S. launches WTO complaint over Chinese aluminum subsidies

  12-01-2017 15:44 via news.yahoo.com
  
  The Obama administration on Thursday launched a new complaint against Chinese aluminum subsidies at the World Trade Organization, accusing Beijing of artificially expanding its global market share through cheap state-directed loans and subsidized energy. The complaint, which seeks consultations with Beijing over the matter, likely will add to rising trade tensions between the world's two largest economies as President-elect Donald Trump prepares to take office next week with pledges to reduce U.
  
  Read more

• Wall St. opens lower on Trump's disappointing speech

  12-01-2017 15:33 via news.yahoo.com
  
  (Reuters) - U.S. stocks opened lower on Thursday after President-elect Donald Trump gave little clarity on his promises of boosting economic growth that had powered a record-breaking rally on Wall Street for two months.
  
  Read more

• Weekly jobless claims rise; import prices push higher

  12-01-2017 15:06 via news.yahoo.com
  
  The number of Americans filing for unemployment benefits rose less than expected last week and the underlying trend remained consistent with a tightening labor market that is starting to spur faster wage growth. Other data on Thursday showed import prices posting their largest gain in nearly five years in the 12 months through December, suggesting that inflation could soon push higher. Import prices are being driven by rising oil prices, but a strong dollar could mitigate some of the impact on i
  
  Read more

• Saudis cut oil output to lowest in two years, pledge further reductions

  12-01-2017 15:01 via news.yahoo.com
  
  By Rania El Gamal, Maha El Dahan and Stanley Carvalho ABU DHABI (Reuters) - Saudi Arabia has cut oil output to its lowest in almost two years, its energy minister said on Thursday, as the world's largest oil exporter leads OPEC's drive to eradicate a global glut and prop up prices. Energy Minister Khalid al-Falih said output had fallen below 10 million barrels per day - more than it had promised as part of a global output cut deal between OPEC and non-OPEC producers. Such low levels were last se
  
  Read more

• Delta Air net profit falls 37 percent

  12-01-2017 14:58 via news.yahoo.com
  
  (Reuters) - Delta Air Lines Inc on Thursday reported a 37 percent decline in fourth-quarter net profit and forecast passenger unit revenue, a closely watched metric, to be flat to up 2 percent in early 2017. The No. 2 carrier by passenger traffic said net income fell to $622 million from $980 million a year earlier. Excluding special items, earnings of 82 cents a share met the analysts' average estimate, according to Thomson Reuters I/B/E/S. Delta said the profit decline stemmed from the recent
  
  Read more

• Wall St. set for weak open as Trump speech disappoints

  12-01-2017 14:51 via news.yahoo.com
  
  With Trump's comments at the back of their minds, investors will turn their focus to the earnings season, which will kick off in earnest on Friday when a trio of big banks report. Merck , one of the few health stocks that avoided the carnage in the sector on Wednesday, gained 1.4 percent to $62.52 premarket after multiple broker upgrades.
  
  Read more

• McDonald's inviting bids for part of Japan unit: WSJ

  12-01-2017 14:51 via news.yahoo.com
  
  Bids are due next week and a number of private-equity firms are considering bids, the Journal reported. Morgan Stanley is running the sale, the newspaper reported, citing one of the sources. "McDonald's Corp is continuing to explore a potential sale of a portion of its ownership in McDonald's Japan.
  
  Read more

• Housing market will see fewer wild swings in 2017, Royal LePage says

  12-01-2017 14:51 via cbc.ca
  
  Royal LePage says the extreme regional disparities that characterized Canada's real estate markets last year will narrow in 2017 as overheated areas cool and slower markets begin to gather steam.
  
  Read more

• Weekly jobless claims rise less than expected

  12-01-2017 14:37 via news.yahoo.com
  
  Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 247,000 for the week ended Jan. 7, the Labor Department said on Thursday. Tightening labor markets are starting to push up wage growth.
  
  Read more

• PIMCO sees possibility of China floating yuan in 2017

  12-01-2017 14:03 via news.yahoo.com
  
  LONDON (Reuters) - Asset management giant PIMCO said on Thursday it thought there was a chance China could freely float its currency, the yuan, this year.
  
  Read more

• VW shareholders question bonuses in wake of U.S. diesel deal

  12-01-2017 13:52 via news.yahoo.com
  
  FRANKFURT/LONDON (Reuters) - Volkswagen investors demanded reforms and questioned executive bonuses after the carmaker admitted to criminal offences in rigging U.S. emissions tests and U.S. prosecutors indicted six current and former managers over the scandal. The German company agreed to pay $4.3 billion in civil and criminal fines in a settlement with the U.S. Department of Justice (DoJ) on Wednesday, the largest ever U.S. penalty levied on an automaker. Volkswagen (VW) admitted about 40 emplo
  
  Read more

• As Trump meets biotech CEOs, farm advisers fret over empty USDA spot

  12-01-2017 13:12 via news.yahoo.com
  
  U.S. President-elect Donald Trump has left the agriculture secretary as the last department head to be named to his Cabinet, while a meeting with the chief executives of two agribusiness giants gave a hint at a roster of farm issues the incoming president will face. Trump met on Wednesday with the leaders of Monsanto Co and Bayer AG , who pitched the benefits of their proposed $66 billion merger. While critical of other large tie-ups, Trump has not publicly taken a stance on the Bayer-Monsanto d
  
  Read more

• With new leverage, NYC's Stringer could reshape boardrooms

  12-01-2017 13:05 via news.yahoo.com
  
  U.S. public pension funds normally prefer a backseat role in overseeing the future of companies where they have billions of dollars invested. It could also mean another shake-up for corporations still learning how to deal with election contests brought by big activist investors like Carl Icahn or Nelson Peltz. With New York City having the fourth-largest U.S. public pension system with some $170 billion in assets, Stringer has led the charge on bylaw changes known as "proxy access" under which h
  
  Read more

• Top 10 CXO trends to watch in 2017

  12-01-2017 13:00 via techrepublic.com
  
  The C-suite will become more involved in cybersecurity, analytics, and IoT as we move further into the new year, experts predict. Here's what your company needs to know.
  
  Read more

• How Credit Karma uses Akka to manage big data at scale

  12-01-2017 13:00 via techrepublic.com
  
  Big data can be a big headache, unless you know how to manage it at scale. Credit Karma engineering manager, Dustin Lyons, spoke with TechRepublic about how the fintech giant handles its data.
  
  Read more

• McDonald's inviting bids for 33 percent stake in Japan unit: WSJ

  12-01-2017 12:51 via news.yahoo.com
  
  (Reuters) - McDonald's Corp is inviting bids for a significant stake in its Japan unit McDonald's Holdings Co Japan Ltd , the Wall Street Journal reported, citing people familiar with the situation. The fast-food company owns just under 50 percent of its Japanese unit, and is looking to sell up to 33 percent, with bids due next week, the report said. A number of private-equity firms are considering bids, the report said.
  
  Read more

• Trump's tax cuts may pressure U.S.'s top credit rating: Fitch

  12-01-2017 12:20 via news.yahoo.com
  
  By John Geddie LONDON (Reuters) - U.S. President-elect Donald Trump's plans to slash taxes could threaten the country's triple-A credit rating over the medium term, the head of EMEA sovereign ratings at the Fitch agency said on Thursday. "Even before elections the U.S had the highest level of government debt of any triple-A country. If we add on top of that Trump's plans to cut taxes by $6.2 trillion over the next 10 years that could add around 33 percent to U.S. government debt," he added.
  
  Read more

• Dollar tumbles, bonds win as Trump trade fizzles

  12-01-2017 11:21 via news.yahoo.com
  
  The U.S. dollar nursed widespread losses on Thursday after President-elect Donald Trump's long-awaited news briefing provided little clarity on future fiscal policies, disappointing bulls who had bet on major stimulus. "The news conference was a far cry from the market friendly, pro-growth "presidential" comments that Trump delivered at his acceptance speech," wrote analysts at Westpac, adding it left a "veritable laundry list" of questions unanswered.
  
  Read more

• Bayer says had productive meeting with Trump over Monsanto deal

  12-01-2017 11:19 via news.yahoo.com
  
  German drugs and pesticides maker Bayer , which will need regulatory approval for its $66 billion deal to buy U.S. seeds giant Monsanto , said company chief executives had a productive meeting with U.S. president-elect Donald Trump. Trump talked to Bayer Chief Executive Werner Baumann, Monsanto CEO Hugh Grant and some of their advisers in New York, his transition team said on Wednesday, part of meetings before he takes office later this month. "It was a productive meeting about the future of agr
  
  Read more

Follow @Business_Newsl on Twitter!