Monday 28 January 2019

U.S. unseals indictments against China's Huawei and CFO Meng Wanzhou

Reuters.com Newsletter

U.S. unseals indictments against China's Huawei and CFO Meng Wanzhou

The U.S. Justice Department unsealed two indictments on Monday against China's Huawei Technologies Co Ltd, several of its subsidiaries and its chief financial officer Meng Wanzhou, in a pair of cases accusing the company of everything from bank and wire fraud to obstructing justice and conspiring to steal trade secrets from T-Mobile US Inc.

Whirlpool full-year profit forecast disappoints, shares fall

U.S. home appliances maker Whirlpool Corp's forecast full-year adjusted profit below analysts' expectations, citing a higher tax rate, costs and a strong dollar, sending its shares down nearly 7 percent after the bell on Monday.

Facebook plans content oversight board, tightens paid ad rules

Facebook Inc on Monday laid out plans for an independent content oversight board with the power to overturn company decisions on user posts, aimed at addressing concerns over misinformation and abusive behavior on the platform.

China worries slam stocks, rising supply hits oil

Global stock markets tumbled on Monday after Caterpillar and Nvidia Corp warned of weak Chinese demand while oil posted its biggest one-day drop in a month on expectations of growing U.S. crude supply.

U.S. judge to allow controversial evidence in Roundup cancer trials

A federal judge overseeing lawsuits alleging Bayer AG's glyphosate-based Roundup weed killer causes cancer on Monday tentatively allowed pieces of controversial evidence that the company had hoped to exclude from upcoming trials.

Exclusive: Snapchat weighs what was once unthinkable - permanent snaps

Snap Inc is considering changes to its Snapchat app, known for disappearing photos and videos, that could make users' public posts longer lasting or even permanent, people familiar with the matter said.

Intel plans to invest $11 billion in new Israeli chip plant: report

U.S. chipmaker Intel plans to spend 40 billion shekels ($10.89 billion) to build a new manufacturing plant in Israel and has asked the Israeli government for a grant amounting to 10 percent of the amount, a local news website reported on Monday.

Caterpillar and Nvidia warnings send Wall Street tumbling

U.S. stocks tumbled on Monday after warnings from Caterpillar Inc and Nvidia Corp added to concerns about a slowing Chinese economy and tariffs taking a bite out of U.S. corporate profits.

Vale stock plunges after Brazil disaster; $19 billion in market cap erased

Brazilian miner Vale SA's shares plunged on Monday, wiping out 71.34 billion reais ($18.96 billion) in market value, after a tailing dam collapse on Friday killed scores of people less than four years after a similar disaster.

Caterpillar stock slides on profit miss, China sales forecast

Caterpillar Inc on Monday missed quarterly earnings estimates, hurt by soft Chinese demand, higher manufacturing and freight costs, sending shares of the heavy machinery maker tumbling as much as 10 percent.

General Electric stock buyers preach patience, eye progress

Investors who have scooped up decimated shares of General Electric Co are willing to wait years to reap a solid return but also hope the U.S. conglomerate will show progress in its turnaround plan and avoid more negative surprises.

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