Thursday 7 June 2018

Some fund managers are avoiding Amazon as it leads U.S. market

Some fund managers are avoiding Amazon as it leads U.S. market

NEW YORK (Reuters) - For most U.S. fund managers, beating the market this year has come down to one decision: whether or not to own shares of Amazon.com Inc .

Chinese phone maker ZTE saved from brink after deal with U.S.

(Reuters) - China's No. 2 telecommunications equipment maker ZTE secured a lifeline from the Trump administration on Thursday after agreeing to pay a $1 billion fine and overhaul leadership in a deal that will lift a ban on its doing business with U.S. suppliers.

U.S. lawmakers scramble for way to block Trump deal with China's ZTE

WASHINGTON (Reuters) - Republican and Democratic U.S. senators introduced legislation on Thursday that would roll back an agreement President Donald Trump's administration announced to ease sanctions on Chinese telecommunications company ZTE Corp.

Italy's Illycaffe launches cold coffee as Starbucks looms

MILAN (Reuters) - Italian premium coffee maker illycaffe will launch hand-pulled cold coffee this summer, in a sign it is feeling the pressure as coffee chain Starbucks prepares to debut in its home turf.

Ex-Volkswagen CEO summoned to testify in emissions lawsuit: Bild

FRANKFURT (Reuters) - Former Volkswagen Chief Executive Martin Winterkorn has been asked to testify before a German court in connection with a lawsuit seeking damages from the carmaker over its emissions cheating scandal, a German paper reported on Thursday.

Phony bank accounts not a 'systemic' issue: U.S. regulator

WASHINGTON (Reuters) - A U.S. bank regulator said on Thursday that an industry-wide review prompted by Wells Fargo & Co's sales practices scandal had uncovered some instances of phony accounts at other lenders but little evidence of a "systemic" problem.

UK lawmakers have 'lost confidence' in TSB boss over IT crisis

LONDON (Reuters) - The chairman of TSB said on Thursday the bank's chief executive, Paul Pester, had the full support of the board, after Pester came under attack from lawmakers over his handling of an IT crisis, casting doubt on his position.

Oil gains on Venezuela export cuts, OPEC production levels

NEW YORK (Reuters) - Global benchmark Brent crude surged nearly $2 a barrel on Thursday, lifted by concern about a steep drop in exports from Venezuela and worries OPEC may not raise production at its meeting this month.

Deutsche Bank sounds out investors about Commerzbank deal: Bloomberg

FRANKFURT/BERLIN (Reuters) - Deutsche Bank Supervisory Board Chairman Paul Achleitner has consulted top shareholders and German government officials about merging with peer Commerzbank , Bloomberg reported, citing people familiar with the matter.

U.S. antitrust official says worries over limiting vertical deals 'misplaced'

NEW YORK (Reuters) - A top antitrust official at the U.S. Justice Department attempted to reassure investors on Thursday that worries that regulators would crack down on proposed combinations of two companies on a supply chain -- known as vertical mergers -- were overblown.

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