Category Archives: business

Viacom, Charter agree to extend renewal deadline: source

(Reuters) – Viacom Inc and Charter Communications Inc agreed on a short-term extension of their renewal deadline, a source familiar with the matter said, as the companies aim to avoid the immediate blackout of Viacom networks.

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Tesla fired hundreds of employees in past week

(Reuters) – Luxury electric vehicle maker Tesla Inc fired about 400 employees this week, including associates, team leaders and supervisors, a former employee told Reuters on Friday.

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Asia shares at 10-year high ahead of U.S. data, China Congress

TOKYO (Reuters) – Asian stocks edged to a 10-year high on Friday thanks to expectations of brisk global growth, although investors held off chasing shares higher ahead of U.S. economic data and next week’s Chinese Communist Party Congress.

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GM warns Canadian union it could wind down striking SUV plant

DETROIT (Reuters) – General Motors Co on Wednesday warned leaders of Canada’s Unifor labor union that it will start to wind down production of its popular Chevrolet Equinox sport utility vehicle at an Ontario factory unless workers there call off a month-long strike.

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Kobe Steel shares plunge as data fabrication concerns deepen

TOKYO (Reuters) – Kobe Steel Ltd shares tumbled a further 16 percent on Wednesday after it admitted it may have fabricated data on iron powder products and media reported the possible sale of its real estate business.

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Starbucks' Schultz still not running for president, launches series on Amazon

LOS ANGELES (Reuters) – Starbucks Corp Chairman Howard Schultz on Tuesday will debut the second season of the coffee chain’s inspirational video series “Upstanders” on Amazon Prime, and the outspoken executive said he would not run for president, despite persistent speculation.

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China shares hit 21-month high; Turkish lira takes a dive

SYDNEY (Reuters) – Chinese shares climbed on Monday after a week-long break as a disappointing survey on the country’s service sector did little to dent optimism on global growth, while political uncertainty caused turbulence for the Turkish and British currencies.

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Fed must hike rates in face of hot U.S. labor market: Rosengren

MONTREAL (Reuters) – The Federal Reserve must respond to “very tight” U.S. labor markets by gradually raising interest rates or risk halting the economic recovery, a hawkish Fed official said on Saturday.

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Tesla delays big rig truck debut; Model 3 in 'production hell'

(Reuters) – Tesla Inc Chief Executive Elon Musk on Friday pushed back the unveiling of the company’s big rig truck until mid-November, tweeting that the electric vehicle maker was diverting resources to fix production bottlenecks of its new Model 3 sedan and to help Puerto Rico.

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Oil markets wary as another tropical storm heads for Gulf of Mexico

SINGAPORE (Reuters) – Oil markets were cautious on Friday as traders monitored a tropical storm heading for the Gulf of Mexico and as China remained closed for a week-long public holiday.

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