Business

(Reuters) – U.S. semiconductor company Qualcomm Inc should try to negotiate a sale to Broadcom Ltd following the latter’s sweetened $121 billion offer, proxy advisory firm Institutional Shareholder Services Inc (ISS) said. Qualcomm has been seeking to walk a fine line between resisting Broadcom’s acquisition approach, which it says undervalues it and is fraught with
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NEW YORK (Reuters) – U.S. stock markets are unlikely to return to the unusually calm conditions seen last year, even though equities have already recovered more than half the ground lost in the recent selloff and traders have rapidly dialed down fear. Stock market volatility spiked to a multi-year high in the selloff and some
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NEW YORK (Reuters) – The S&P 500 rose marginally on Friday to mark its biggest weekly increase in five years, although earlier gains evaporated after the indictment of Russians for meddling in the 2016 presidential election sent investors into defensive mode before a long weekend. A market correction sparked by inflation concerns earlier in February
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FRANKFURT (Reuters) – The chief executive of Volkswagen’s luxury unit Audi, Rupert Stadler, will be replaced in April because of his unsuccessful handling of the diesel emissions scandal, German daily Bild reported on Friday. VW unit Skoda’s head Winfried Vahland is seen as the top candidate to succeed him, the paper added. Audi was not
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(Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Wednesday disclosed a new stake in generic drugmaker Teva Pharmaceutical Industries Ltd (TEVA.TA) and said it bought more shares of Apple Inc (AAPL.O), which surpassed Wells Fargo & Co (WFC.N) as its largest common stock investment. Berkshire also nearly completed its yearlong exit from International Business
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SEOUL (Reuters) – Workers at a General Motors (GM) plant in South Korea that the U.S. automaker plans to close staged a protest on Wednesday, calling the decision a “death sentence” and threatening a strike. GM announced on Tuesday it will shutter the plant in Gunsan, in South Korea’s southwest, by May and decide within
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SAN FRANCISCO (Reuters) – Airbnb Inc’s year-old tours and activities business is booking tens of thousands of travelers every month and is likely to be profitable late next year, the company said on Tuesday, highlighting success in its efforts to grow beyond renting rooms and homes. More than a year ago, Airbnb announced a broad
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SAN FRANCISCO (Reuters) – Amazon.com Inc paid about $90 million to acquire the maker of Blink home security cameras late last year, in a secret bet on the startup’s energy-efficient chips, people familiar with the matter told Reuters. The deal’s rationale and price tag, previously unreported, underscore how Amazon aims to do more than sell
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FRANKFURT (Reuters) – Bayer (BAYGn.DE) needs to ensure that a merger with rival Monsanto (MON.N) does not stifle competition in digital farming, the European Union’s Competition Commissioner Margrethe Verstager told a German newspaper on Saturday. Bayer’s $63.5 billion takeover of U.S. Monsanto, announced in 2016, is set to create the world’s largest seeds and pesticides
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PARIS (Reuters) – Qatari investment fund Mayhoola, which owns Italian fashion house Valentino, and Chinese conglomerate Fosun, the company behind French tourism group Club Med, are vying to acquire a majority stake in struggling French fashion house Lanvin, two sources familiar with the talks said.  The storied Parisian label, France’s oldest surviving couture house, is controlled
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(Reuters) – Wall Street’s main stock indexes climbed more than 1 percent on Friday, giving investors some solace after a week of huge swings that shook the market out of months of calm. Even with Friday’s gains, the benchmark S&P 500 fell 5.2 percent for the week, its biggest weekly percentage drop since January 2016,
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GENEVA (Reuters) – Former Credit Suisse (CSGN.S) client adviser Patrice Lescaudron was sentenced to five years imprisonment by a Geneva court on Friday for abusing the trust of clients and putting in place a fraudulent scheme that brought him tens of millions of francs. Lescaudron, who is French, appeared in court for the verdict wearing
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TOKYO (Reuters) – Asian shares sank on Friday, with Chinese equities on track for their worst day in two years, as fears of higher U.S. interest rates shredded global investor confidence. There was limited immediate market reaction to the U.S. government staggering into another shutdown after Congress missed a Thursday midnight deadline to renew funding.
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