Bhinneka News Online: Reuters Business Today: April 13, 2017

Thursday, 13 April 2017

Reuters Business Today: April 13, 2017

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Thursday, April 13, 2017

U.S. jobless claims unexpectedly fall as labor market remains firm

WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits unexpectedly fell last week, suggesting the labor market remains strong despite a sharp slowdown in job growth in March.

Wall Street to open lower; bank earnings in focus

(Reuters) - U.S. stocks looked set to open lower on Thursday, following President Donald Trump's remarks on the U.S. dollar and interest rates, while investors assessed bank earnings.

Citi profit beats estimates as fixed-income trading jumps

(Reuters) - Citigroup Inc reported a better-than-expected 17 percent jump in quarterly profit, boosted by strong fixed-income trading as clients adjusted their positions following rate hikes by the Federal Reserve and changes in the forex and credit markets.

JPMorgan profit jumps 17 percent on trading surge, underwriting

(Reuters) - JPMorgan Chase & Co reported a nearly 17 percent jump in quarterly profit on Thursday, thanks to a surge in trading activity and securities issuance that helped its Wall Street businesses.

Wells Fargo's profit flat, mortgage banking revenue down

(Reuters) - Wells Fargo & Co, which has been mired in litigations stemming from a sales scandal, posted a nearly flat first-quarter profit, hurt by lower mortgage banking revenue and higher expenses.

Self-driving 'arms race' complicates supplier alliances

FRANKFURT/DETROIT (Reuters) - The race to develop and exploit autonomous vehicle technology is reshaping the hierarchy of the automotive industry, replacing traditional top-down manufacturing relationships with complex webs of alliances and acquisitions.

U.S. producer prices post first drop in seven months

WASHINGTON (Reuters) - U.S. producer prices fell in March for the first time in seven months, weighed down by a drop in the cost of services and energy products, but the

Tesla's Musk tells disgruntled shareholders: Buy Ford

SAN FRANCISCO/DETROIT (Reuters) - A group of Tesla Inc investors has urged the luxury electric car maker to add two new independent directors to its board, without ties to Chief Executive Elon Musk, to "provide a critical check on possible dysfunctional group dynamics."

'Trump Trade' winners switch into battered retail, biotech shares

NEW YORK (Reuters) - Some of the actively managed funds that have performed the best since the Nov. 8 presidential election are switching from "Trump Trade" bets on financial and infrastructure stocks into beaten-down sectors such as retail, apparel or biotech.

Boardroom excess? British companies stick with bonus plans despite criticism

LONDON (Reuters) - Pressure on British companies to ditch a common performance-related bonus scheme blamed for generating excessive executive pay has not stopped many firms from planning to stick with such schemes for another three years, a Reuters analysis shows.