Breaking business news: General Electric to cut 12,000 jobs in power business revamp

Click to View in Browser Thursday, December 7, 2017 General Electric to cut 12,000 jobs in power business revamp ZURICH/LAS VEGAS (Reuters) - General Electric Co said Thursday it is axing 12,000 jobs at its global power business, the struggling industrial conglomerate's latest effort to shrink itself into a more focused company. Wall Street rising: Facebook, Alphabet, Lululemon gain (Reuters) - Wall Street rose on Thursday, buoyed by popular technology companies including Facebook and Alphabet, while shares of yoga pants seller Lululemon Athletica also worked up a sweat. Bitcoin flirts with $16,000, alarm bells ring louder LONDON/NEW YORK (Reuters) - Bitcoin rocketed to a lifetime high just shy of $16,000 on Thursday after climbing some 60 percent in just over a week, intensifying the debate about whether the cryptocurrency is in a bubble about to burst. AT&T/Time Warner antitrust trial set for March WASHINGTON (Reuters) - The trial to determine if the U.S. Department of Justice can stop AT&T Inc's $85 billion purchase of media company Time Warner Inc will begin on March 19 with no decision expected before the companies' April 22 deadline to complete the deal, a federal judge said on Thursday. Exclusive: Wells Fargo sanctions are on ice under Trump official - sources WASHINGTON (Reuters) - The new acting head of the U.S. consumer finance watchdog is reviewing whether Wells Fargo & Co should pay tens of millions of dollars over alleged mortgage lending abuse, according to three sources familiar with the dispute. Exclusive: Uber's Chinese rival Didi Chuxing to enter Mexico next year - sources MEXICO CITY/SAN FRANCISCO (Reuters) - Didi Chuxing, China's ride-hailing behemoth, plans to expand into Mexico next year, intensifying its global rivalry with Uber, according to two sources familiar with the plans. Morgan Stanley fires former lawmaker for misconduct NEW YORK (Reuters) - Morgan Stanley has fired former U.S. Democratic lawmaker Harold Ford, Jr., a managing director at the Wall Street bank, for inappropriate conduct, a spokeswoman said on Thursday. Budweiser maker Anheuser-Busch reserves 40 Tesla electric trucks (Reuters) - Budweiser beer maker Anheuser-Busch has reserved 40 Tesla Inc all-electric Semi trucks as it seeks to reduce fuel costs and vehicle emissions, the brewer said on Thursday. Steinhoff scandal knocks $12 billion off value in blow to tycoon Wiese JOHANNESBURG/BERLIN (Reuters) - Shocked Steinhoff shareholders have wiped more than $12 billion off its value since it revealed "accounting irregularities" and parted ways with its chief executive, in a dramatic fall from grace for the South African retailer. LendingClub shares take a hit from disappointing forecast (Reuters) - Shares of LendingClub Corp hit a record low on Thursday after the online lender raised its loss estimate and cut its revenue forecast for the fourth quarter. Related Video Uber paid hacker to keep quiet General Electric to cut 12,000 jobs Counterparties is a curated snapshot of the best finance news and commentary around the web. Register Today News you can use with actionable, timely advice for managing your financial life, including retirement, taxes, real estate, education and more. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2017 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook