Bhinneka News Online: Reuters Business Today: March 28, 2017

Tuesday, 28 March 2017

Reuters Business Today: March 28, 2017

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Tuesday, March 28, 2017

Wall Street posts sharp gains, fueled by strong consumer data

(Reuters) - U.S. stocks ended sharply higher on Tuesday, with financial and energy shares surging as data showed U.S. consumer confidence soaring to a more than 16-year high.

Tesla deal boosts Chinese presence in U.S. auto tech

DETROIT (Reuters) - China's Tencent Holdings Ltd has bought a 5 percent stake in U.S. electric car maker Tesla Inc for $1.78 billion, the latest investment by a Chinese internet company in the potentially lucrative market for self-driving vehicles and related services.

GM rebuffs two-class share plan from Einhorn's Greenlight Capital

(Reuters) - General Motors Co on Tuesday rejected a proposal by billionaire investor David Einhorn to split its common stock into two classes to help boost its share price.

Possible Westinghouse bankruptcy a potential security concern: U.S. official

WASHINGTON (Reuters) - The possible bankruptcy of U.S. nuclear developer Westinghouse Electric Co is a "concern" for President Donald Trump's administration and a potential national security issue, an administration official told Reuters on Tuesday.

ZTE removed from U.S. trade blacklist

WASHINGTON (Reuters) - The U.S. Commerce Department will remove Chinese telecom equipment maker ZTE Corp from a trade blacklist after the company admitted to violating sanctions on Iran, the Commerce Department said in a notice made public on Tuesday,

Trump applauds Ford's previous planned investment in Michigan plants

DETROIT/WASHINGTON (Reuters) - Ford Motor Co on Tuesday said it would invest $1.2 billion in three Michigan facilities and create 130 jobs in projects largely in line with a previous agreement with the United Auto Workers union, hours after U.S. President Donald Trump touted a "major investment" by the automaker on Twitter.

Uber diversity report shows shortage of women, minorities

(Reuters) - Uber Technologies Inc released its first diversity report on Tuesday, showing that women and non-white employees are underrepresented at the ride-services company - just as they are at many other technology firms.

Consumer confidence hits 16-year high in boost to economy

WASHINGTON (Reuters) - U.S. consumer confidence surged to a more than 16-year high in March amid growing labor market optimism while the goods trade deficit narrowed sharply in February, indicating the economy was regaining momentum after faltering at the start of the year.

U.S. House committee approves bill to increase scrutiny of Fed

WASHINGTON (Reuters) - A Republican-controlled committee of lawmakers approved a bill on Tuesday to allow a congressional audit of Federal Reserve monetary policy, a proposal Fed policymakers have opposed and which faces an uncertain path to final approval.

MoneyGram bidder Euronet ramps up fight to stop Chinese rival's bid

WASHINGTON (Reuters) - Euronet Worldwide Inc ramped up its fight against China's Ant Financial Services Group in trying to acquire MoneyGram International Inc , urging the U.S. government to closely scrutinize the rival Chinese bid saying it raises "significant national security risks."