EU nations agree to let European Commission vet gas, oil deals

BRUSSELS EU nations agreed on Wednesday to allow the European Commission to vet their oil and gas deals with third countries like Russia to guard against anti-competitive practices and supply disruptions.

5:28pm GMT

FTSE hits one-month high as banks and miners lead cyclical charge

LONDON Britain's top share index rose to a one-month high on Wednesday, rallying for a third straight session as investors snapped up bank and mining stocks and rotated out of more "defensive" parts of the market.

5:20pm GMT

EU lawmakers move to revive asset and mortgage backed market

BRUSSELS European lawmakers are set to give their first backing to a plan to revive the market for asset and mortgage backed securities on Thursday, the EU lawmaker responsible for the initiative said.

5:13pm GMT

French Carmaker PSA to invest $320 million in Argentina - government

BUENOS AIRES French carmaker PSA agreed to invest $320 million (253.82 million pound) in Argentina with the aim of producing more cars to be sold on the local and international markets starting in 2019, the government said on Tuesday.

5:01pm GMT

Starbucks sets five-year growth targets, to open 12,000 more stores

Starbucks Corp unveiled a five-year growth plan, under which it would open more stores around the world, including several high-end coffee shops, while targeting annual revenue growth of 10 percent.

4:39pm GMT

Foxconn says in preliminary discussions to expand U.S. operations

TAIPEI Foxconn, the world's largest contract electronics manufacturer and a major Apple Inc supplier, said on Wednesday that it was in preliminary discussions to expand its operations in the United States.

4:30pm GMT

Cyprus to be 'out and about' in bond markets in 2017 - finance minister

LONDON Cyprus plans to be "out and about" in bond markets next year, its finance minister said on Wednesday, after a successful first debt sale in July since its 2013 banking collapse and bailout.

4:23pm GMT

EU fines Agricole, JPMorgan and HSBC $520 million over Euribor

BRUSSELS The European Commission has fined Credit Agricole , HSBC and JPMorgan Chase a total of 485 million euros (412.37 million pound) for their alleged participation in a cartel to manipulate the price of the Euribor financial benchmark.

4:21pm GMT

Knight Vinke warns European investment banks too small to thrive

LONDON Activist investor Knight Vinke expects European investment banks will have to merge with U.S. or Chinese rivals because they lack scale in wholesale trading and have no deep domestic market to subsidise their activities.

4:15pm GMT

Poundland shifts away from one price fits all

JOHANNESBURG New owner Steinhoff is dropping Poundland's single-price format to sell a broader range of products to thrifty British consumers, the South African company said on Wednesday.

Wall Street muted by health stocks; Italy, ECB boost Europe

NEW YORK Wall Street's rise was held back by health stocks on Wednesday while European stocks rose on reports Italy would step in to rescue troubled bank Monte dei Paschi and on expectations the European Central Bank would extend its bond-buying.

4:10pm GMT

Shell, Iran agree on future oil and gas development

DUBAI Royal Dutch Shell signed a provisional agreement on Wednesday to develop Iranian oil and gas fields, an Iranian official said, the first deal by the world's second biggest listed oil firm in Iran since sanctions were lifted.

3:52pm GMT

Irish court releases assets worth $100 million to Russia's Khodorkovsky

DUBLIN An Irish court on Wednesday released assets worth $100 million (79.39 million pound) to Mikhail Khodorkovsky, part of the former Russian oligarch's global legal effort to recoup billions of dollars seized in the years following his 2003 arrest.

3:28pm GMT

OPEC, U.S. begin 'cat and mouse' oil game as producers pounce on hedges

LONDON/NEW YORK As far as one of the world’s biggest commodities traders, Glencore’s chief Ivan Glasenberg, is concerned, the oil market will be at the mercy of "a cat and mouse game" between OPEC and its U.S. shale rivals in the coming year.

3:21pm GMT

Euro zone will survive politics but banking a concern - ex-ECB head Trichet

LONDON The former head of the European Central Bank said on Wednesday that the euro zone will stay intact despite testing times ahead politically but differences between member states' banking put the bloc's markets at risk of fragmentation.

3:15pm GMT

Reuters poll - Global stocks forecast to rise next year, but face risks a-plenty

BENGALURU/LONDON Global stock markets will rise further in 2017, hundreds of upbeat strategists say in a Reuters poll released on Wednesday, braving a long list of political uncertainties just as the fuel behind the historic post-financial crisis rally runs dry.

3:03pm GMT

NIESR sees stable growth in three months to Nov, consumer slowdown ahead

LONDON, Dec 7 British economic growth probably held stable in the three months to November but is likely to slow as consumers feel the pinch of rising prices after the Brexit hit to the pound, a think tank said on Wednesday.

3:03pm GMT

ECB team thinks Cyprus must speed up resolution of bad loans - source

LONDON Cyprus needs to speed up its tackling of the non-performing loans held by banks, according to the European Central Bank, a source familiar with the bank's thinking said on Wednesday.

2:56pm GMT

Industrial output sinks as weak sterling no boon for factories

LONDON Falls in sterling since the Brexit vote failed to boost Britain's manufacturers in October as industrial output, also hit by a shutdown at the country's largest oilfield, suffered its biggest monthly drop since 2012.

2:06pm GMT

Credit Suisse's Thiam steps up cost cuts, lowers profit goals

ZURICH Credit Suisse on Wednesday pledged to cut another 1 billion Swiss francs (786.20 million pound) in costs and pared back profit targets amid challenging markets which have made it harder for banks to make money.

Italy passes 2017 budget, paving way for PM Renzi's resignation

ROME The Italian parliament on Wednesday gave its final approval to the government's 2017 budget, paving the way for Prime Minister Matteo Renzi to hand in his resignation.

1:36pm GMT

Shell confirms it signed MoU with Iran's NIOC

DUBAI Royal Dutch Shell has signed a memorandum of understanding (MoU) with National Iranian Oil Company (NIOC) "to further explore areas of potential cooperation," a Shell spokesman confirmed on Wednesday.

1:22pm GMT

India unexpectedly keeps rates unchanged even as cash crunch roils economy

MUMBAI India's central bank unexpectedly kept its key policy rate unchanged at 6.25 percent on Wednesday, despite calls for action in the face of an intense cash shortage that threatens to slam the brakes on the world's fastest-growing large economy.

12:24pm GMT

Britain needs Brexit transitional deal - insurance trade body

LONDON Britain should commit to transitional arrangements after it leaves the European Union, or insurers may leave the country ahead of Brexit, the director general of the Association of British Insurers said on Wednesday.

12:10pm GMT

EU optimistic Basel bank capital deal can be reached in January

LONDON The European Union is confident that a deal on how much capital banks must hold to avoid a repeat of the financial crisis can be reached in January, a top official said, as policymakers and global banking regulators iron out their remaining differences.

11:37am GMT

FTSE 100 seen defying risks to rise next year - Reuters poll

LONDON Britain's top share index is set to rise around 4 percent by the end of 2017, lagging this year's gains, analysts polled by Reuters said, while warning politics could upset predictions.

11:25am GMT

Staples to sell controlling stake in European unit to Cerberus

Office supplies retailer Staples Inc said on Wednesday it would sell its controlling stake in its European business to an affiliate of private equity firm Cerberus Capital Management LP to focus on its North American operations.

11:12am GMT

China Nov forex reserves fall more than expected to lowest in nearly six years

BEIJING China's foreign exchange reserves fell far more than expected in November to the lowest level in nearly six years, as authorities struggled to stem capital outflows and shore up the sliding yuan in the face of the relentlessly rising dollar.

10:28am GMT

Citi says behaved appropriately in sterling 'flash crash'

LONDON Citi said on Wednesday that its trading operations functioned appropriately in a thin and illiquid market during October's "flash crash" in sterling, responding to a Financial Times report that a trader at the U.S. bank exacerbated the pound's fall.

10:18am GMT

Stagecoach says on course to hit profit target

LONDON British transport company Stagecoach stuck to its forecast for a dip in annual earnings, saying improving demand for rail travel would help offset weakness in its bus business.

British clampdown raises concerns over smaller retail brokers

LONDON A British clampdown on retail trading platforms prompted warnings among industry players and investors on Tuesday that some smaller firms may not be able to sustain their business under the new stricter rules.

10:05am GMT

Britain clamps down on spread betting industry

Britain's financial watchdog has joined other European regulators in a crackdown on financial spread betting, a fast-growing 3.5 billion pound ($4.5 billion) industry where most retail investors lose money.

9:56am GMT

Swiss must do more to stop money laundering - task force

ZURICH Switzerland must do more to prevent financial crime and banks in particular should step up efforts to spot and report suspected crimes, an inter-governmental Financial Action Task Force (FATF) said on Wednesday.

9:55am GMT

UK narrows current account deficit after major data error

LONDON Britain appears to have relied slightly less on the "kindness of strangers" before the Brexit vote, after its statistics agency uncovered major errors in trade data that meant the current account deficit was narrower than first calculated.

9:52am GMT

UK house price growth speeds up for first time since March - Halifax

LONDON Growth in British house prices in November picked up speed for the first time since March although price increases may slow in the coming months, mortgage lender Halifax said on Wednesday.

9:51am GMT

OPEC deal will go ahead even if only Russia commits - Nigeria oil min

ABU DHABI OPEC's deal to cut oil production will go ahead even if Russia becomes the only non-OPEC country to commit to reduce output at a meeting this week, Nigeria said on Wednesday, while the UAE voiced optimism that other producers would participate.

9:48am GMT

Lufthansa names telecoms exec to oversee Eurowings expansion

BERLIN Lufthansa named Thorsten Dirks, the chief executive of Telefonica Deutschland , to its management board to lead the expansion of budget unit Eurowings, which is rapidly building its presence in Europe thanks to recent deals.

9:46am GMT

Renault-Nissan names Philippe Brunet as new powertrain chief

PARIS The Renault-Nissan alliance on Wednesday named Renault veteran Philippe Brunet to replace the top executive in charge of engines and transmissions.

9:42am GMT

LeEco's sports unit cuts 10 percent of staff amid funding crunch

BEIJING/SHANGHAI The sports unit of Chinese technology giant LeEco will cut 10 percent of its staff and restructure its business after the parent firm's billionaire chief executive flagged concerns over spiralling debt and corporate overextension last month.

9:25am GMT

Credit Suisse CEO says has good reason to believe conditions improving

ZURICH Challenging market conditions could be set to improve, Credit Suisse Chief Executive Tidjane Thiam said on Wednesday.

ESM says it is not in talks with Italy over banking loan

BRUSSELS The euro zone bailout fund has not received any request and has not discussed with Italy a possible programme of financial support for its ailing banking sector, a spokesman for the fund said on Wednesday.

9:09am GMT

OPEC wants oil price to be moderate, not too high - TASS quotes Venezuela's Del Pino

MOSCOW OPEC is aiming for a moderate but not too high oil price, Venezuelan Oil Minister Eulogio Del Pino told Russia's TASS news agency in Caracas.

9:02am GMT

Bosnian businesses go halal to serve Gulf visitors, eye exports

SARAJEVO Bosnian banks, food producers and hoteliers are adopting halal standards to tap a fast-growing market thanks to the country's large Muslim population, an influx of Gulf tourists and growing trade with the Arab world.

9:01am GMT

European shares on a fourth quarter high as banks gain further ground

LONDON European shares rose on Wednesday with the regional banking index hitting an 11-month peak after Credit Suisse announced further costs cuts and Italian banks poised for their best two-day run since 2012.

8:41am GMT

Shares in Monte dei Paschi rise strongly at open

MILAN Shares in Monte dei Paschi shot up more than 9 percent in early trade on Wednesday after sources said Italy is preparing to take a controlling stake in the troubled bank.

8:21am GMT

John Menzies names former DHL executive as head of distribution unit

Airport services and logistics group John Menzies Plc named Greg Michael, a former DHL executive, as managing director of its distribution unit to help diversify the business struggling against declines in the print industry.

8:18am GMT

Italy is not preparing request for ESM loan - Treasury spokesman

ROME Italy is not preparing a request for a loan from the European Stability Mechanism (ESM) to support its banking sector, a Treasury spokesman said on Wednesday, denying a newspaper report.

8:11am GMT

Carillion sees slowdown in pace of new orders post-Brexit

Carillion Plc, a British building support services company, said the pace of new order intake had slowed in the second half of the year, partly due to a spending delay by the government following Britain's vote to leave the European Union.

8:04am GMT

Solvay to sell cigarette filter business Acetow to Blackstone

BRUSSELS Belgian chemicals group Solvay said on Wednesday it had agreed to sell its Acetow unit, which makes material used in cigarette filters, to private equity group Blackstone for 1 billion euros (844.7 million pounds), including debt.

7:59am GMT

German industry output rises less than expected in October

BERLIN German industrial production rose less than expected in October due to stagnating factory output and falling energy activity, suggesting Europe's biggest economy started the fourth quarter on a weak footing.

Knorr Bremse holds 86.1 stake in Haldex

FRANKFURT German auto supplier Knorr-Bremse [sTELLG.UL] on Wednesday said it holds an 86.1 percent stake in Swedish brake systems firm Haldex after rival ZF Friedrichshafen [ZFF.UL] withdrew from a takeover battle.

7:40am GMT

Italy set to ask ESM 15 billion euros for banking sector - report

MILAN Italy is set to ask the European Stability Mechanism a loan of 15 billion euros (12.71 billion pounds), Italian daily La Stampa reported on Wednesday, quoting two sources from the Treasury.

7:33am GMT

UK's Sage says may sell North American payments business

LONDON British software company Sage Group is evaluating potential strategic options for its North American payments business, including a sale, it said on Wednesday.

7:19am GMT

BOJ Iwata keeps focus on money printing, exposes rift in board

NAGASAKI, Japan Bank of Japan Deputy Governor Kikuo Iwata said the central bank has not shifted its focus away from the pace of money printing, contradicting the governor's view and exposing a rift in the board on how best to break the country's deflation shackles.

7:18am GMT

Outages brighten European refineries' year-end profit prospects

LONDON European oil refiners are enjoying healthy profits in the fourth quarter compared with other regions due to unplanned maintenance in the Atlantic basin that has eroded inventories, offsetting typically weaker year-end demand.

7:13am GMT

Exclusive - In mammoth task, BP sends almost three million barrels of U.S. oil to Asia

SINGAPORE Oil major BP is shipping almost 3 million barrels of U.S. crude to customers across Asia, pioneering a lengthy and complex operation likely to become more popular after OPEC last week announced deep production cuts.

6:33am GMT

Starbucks courts millennials with $10 coffee at new Reserve bars

LOS ANGELES/NEW YORK Starbucks Corp co-founder Howard Schultz's plan to build a new prestige brand is a bet that moving upscale can raise the profile of the world's largest coffee brand with millennials like Megan Sauers.

6:14am GMT

China's tighter capital controls impeding Western firms' payments, dividends - lobbies

BEIJING Tighter rules in China on outbound capital flows have raised barriers for European and U.S. companies to get money out of the country, two prominent business lobbies said on Wednesday, with one saying dividend payments had been affected.

5:49am GMT

South Korea to slap VW with record fine, pursue executives over emissions ads

SEOUL South Korea said it will file criminal complaints against five former and current executives at Volkswagen AG's South Korean unit and fine the company a record 37.3 billion won (25.2 million pounds) for false advertising on vehicle emissions.

4:49am GMT

Ford makes contingency plans in case of China year-end tax surprise

BEIJING Ford Motor Co expects China to wait until the last possible moment to announce whether it will extend a tax cut on small engine cars set to expire at year's end and is making contingency plans for various outcomes, an executive said on Wednesday.

Family of Malaysia's Jho Low moves to protect assets in 1MDB probe

NEW YORK Relatives of Malaysian businessman Low Taek Jho plan to take fresh court action in a bid to prevent the U.S. government from seizing assets as part of an investigation into the scandal-tainted 1MDB fund, according to a U.S. court filing.

4:00am GMT

Apple says iPhone 6 battery fires in China likely caused by external factors

BEIJING Apple Inc said external factors were the likely cause of iPhone 6 battery fires detailed in a Chinese consumer protection report that featured widely in state media earlier this week and created a buzz on social media.

3:59am GMT

Christmas spirit lacking in Greek bailout wrangles

BRUSSELS Greece thanked creditors for modest debt relief on St. Nicholas Day in Brussels but did not hide disappointment it won't get the Christmas gift it wants -- a pass on the latest phase of its bailout programme.

3:11am GMT

For London's food and wine businesses, Brexit has a bitter taste

LONDON Importing fine foods from Spain has been a good trade for London firm Brindisa, but like many food and wine businesses that rely on the free movement of goods and workers within the European Union, it has been badly hit by Britain's vote to leave.

3:09am GMT

U.S. Supreme Court backs Samsung in smartphone fight with Apple

The U.S. Supreme Court on Tuesday sided with Samsung in its big-money smartphone patent fight with Apple , throwing out an appeals court ruling that the South Korean company had to pay a $399 million (£315.2 million) penalty to its American rival for copying key iPhone designs.

12:59am GMT

U.S. judge throws out emissions fraud lawsuit against Mercedes

A U.S. judge in New Jersey on Tuesday threw out a proposed class action lawsuit alleging that automaker Mercedes misled consumers about emissions standards in "BlueTec Clean Diesel" vehicles.

06 Dec 2016

Oil falls on output cut skepticism, OPEC and Russia output rise

NEW YORK Oil prices on Tuesday ended lower for the first time since OPEC agreed on Nov. 30 to cut output, as data showing record high production in the producer group fed skepticism that it would be able to reduce supplies.

06 Dec 2016

Oil falls on output cut skepticism, OPEC and Russia output rise

NEW YORK Oil prices on Tuesday ended lower for the first time since OPEC agreed on Nov. 30 to cut output, as data showing record high production in the producer group fed skepticism that it would be able to reduce supplies.

06 Dec 2016

Wall Street rises, euro down ahead of ECB meeting

NEW YORK Oil futures snapped a four-day rally on Tuesday on signs of higher output while the euro slipped from a three-week high ahead of a Thursday meeting of the European Central Bank.

Italy Threatens ECB With Blackmail; Demands More Time For Monte Paschi Rescue

Indian Economy Crashes As Modi's "Black Money" Theory Collapses

Chinese Reserves Tumble By $69 Billion, Biggest Drop Since January

Saxo Bank's 10 Outrageous Predictions For 2017: Brexit Never Happens, Bitcoin Surges, Fed Folds

Our "Gaslight" Economy

JPMorgan, HSBC, Credit Agricole "Bank Cartel" Fined $521 Million For Euribor Rigging

Longest Winning Streak For Global Stocks Since September On Monte Paschi Bailout Hopes, ECB Optimism

• 
   
  Sports Direct chairman criticises 'extreme campaign' as profits fall 57%
   
   
  Founder Mike Ashley says past six months have been ‘tough’ – but retailer spends £40m on corporate jet
   
  
  • US bank quit role over share deal concerns, court filing claims
    
  • Nils Pratley Sports Direct chairman should face the final whistle
    
  • Simon Goodley So, Mike Ashley, can we handle the truth?
    

   

   

  Sports Direct chairman criticises 'extreme campaign' as profits fall 57%

   

  [*]

  • 
     
    Capita to replace staff with robots to save money
     
     
     
    
    • Nils Pratley Capita capitalises on robots
      
    • Share price Capita dives to 10-year low after profit warning
      

     

     

    Capita to replace staff with robots to save money

     

    [*] HMRC Chief calls for tax crackdown on Premier League players

     

     

     

    Chief calls for tax crackdown on Premier League players

     

    [*] News ECB surprises markets by scaling back QE programme

     

     

     

    ECB surprises markets by scaling back QE programme

     

  [*]

  • National Grid Firm sells majority stake in gas division in £13.8bn deal
     
     
     
    Firm sells majority stake in gas division in £13.8bn deal
     
    
  • Tata Steel Regulator warns of pension hurdles
     
     
     
    Regulator warns of pension hurdles
     
    
  • Southern rail Court rejects bid to prevent drivers' strike
     
     
     
    Court rejects bid to prevent drivers' strike
     
    
  • Rail industry HS1 owners consider sale after receiving offers
     
     
     
    HS1 owners consider sale after receiving offers
     
    
  • Less is not more Prada found wanting on forced labour safeguards
     
     
     
     
     
    
  • 
    
    • 
       
      UK food prices will rise without EU workers, say trade groups
       
       
      Food and drink industry flags up labour shortages as EU workers go home after Brexit vote or stay away due to fall in pound
       
       
      
      • Letter EU workers in food and drink industry need assurances
        
      • Report Major cut in EU migrants risks long-term damage
        
      • MPs 'Brexit does not have to be bad for UK export'
        

      UK food prices will rise without EU workers, say trade groups

       

      [*]

       

      McDonald's Fast food giant to scrap Luxembourg tax structure

       

       

       

      • EU Feeling the heat from Brussels over tax? Then move to London
        

       

       

      Fast food giant to scrap Luxembourg tax structure

       

     

EU sues Germany and Britain over Volkswagen emissions scandal

The UK is among seven nations facing legal actions for failing to police emissions cheating by carmakers after the Volkswagen scandal

UK-based banks in 'advanced talks' over move to Paris due to Brexit

• Trump and Brexit mean turbulent year ahead for Europe, says Draghi
   
  
  
• McDonald’s moves non-US base to UK after run-in with EU tax regulators
   
  
  
• London's banks checking out Paris, but Government could keep them here
   
  
  

Major German companies including BMW pull advertising from Breitbart

The carmaker BMW, the restaurant chain Vapiano, the supermarket chain Rewe, and Deutsche Telekom have all pulled their ads from the pro-Trump news site due to concerns about its content

National Grid sells UK gas infrastructure to China and Qatar

Sports Direct spends £40m on corporate jet amid alarming dive in profi

Rogue electors won't stop Trump presidency, could affect state laws

An unprecedented number of Electoral College members are expected to break with their states' popular vote results when casting their votes on December 19.

Vladimir Puti sells €10bn stake in state oil company despite sanctions

President personally announced the sale of 19.5% of Rosneft on television; it’s the biggest foreign investment in the country since the Ukraine crisis began

Sports Direct's Homer and Abe Simpson are at it again

Homer Mike Ashley wants to make the company ‘the Selfridges of sports retail’ while Grandpa Keith Hellawell tries to blame its problems on its critics as profits and the share price slump

'Green gas' plants that use grass proposed for fracking sites

'We want to show that there‘s an alternative to fracking – and start a local debate in the areas directly affected by it,' says green energy company's founder Dale Vince

Two pieces of money 'advice' could ruin your chance at getting rich

If you dig through the troves of financial advice out there, you're sure to find contradictory guidance. Money can be complicated, and everyone's got an opinion about it.

Michael Jordan gets his name back in China with rare legal victory

Sports Direct chairman hits out at critics as profits plunge

Chancellor Philip Hammond must listen to Tyrie on taxpayer owned banks

UKFI, which is supposed to manage the state's interests at arm's length, should be closed down

Tata Steel commits to keeping Port Talbot open, saving 4,000 jobs

The deal brings an end to eight months of uncertainty for thousands of workers

Trump's drug pricing comment sends biotech stocks into free-fall

There's little to substantiate the president-elect's claim that he will bring drug prices down, but biotech investors are trading otherwise

Best places to work in the UK revealed

Online travel company Expedia tops the ranking for the second year in a row

Donald Trump seen as 'single largest risk' to economy

How a sharp fall in migration could damage the economy

Pfizer's record fine for pharma funny business no laughing matter

The Competition & Markets Authority has accused the company of excessive and unfair pricing over an epilespy treatment supplied to NHS patients

EU fines top banks £410m for rate rigging including HSBC and JP Morgan

Credit Agricole, HSBC and JP Morgan Chase were fined over their participation in a euro interest rate derivatives cartel

Industrial production falls at fastest pace in four years

Pfizer fined record £84.2m for overcharging NHS 2600%

Boeing says Trump tweet that wiped $1bn off its value wasn’t true

The President-elect said costs for the new plane were expected to reach $4bn

McDonald's to move non-US tax base to UK

McDonald's is to move its non-US tax base from Luxembourg to the UK, the firm says.

• 8 December 2016
  
• From the section Business
  

Related content

• Simon Jack: Why did McDonald's flip out of Luxembourg?
  
• Kamal Ahmed: May's post-Brexit economy test
  

Legal action against UK over VW

The EU is taking legal action against the UK and six other nations for failing to take - or consider taking - action against Volkswagen.

• 8 December 2016
  
• From the section Business
  

Related content

• VW plans 30,000 job cuts worldwide
  
• VW emissions probe investigates chairman
  

Live Business Live: FTSE 100 up as euro sinks

London market ends 30 points higher; sterling jumps 1% against the euro; McDonald's sets up new UK tax base.

• From the section Business
  

ECB extends bond scheme at slower pace

• 8 December 2016
  
• From the section Business
  

'Tough' year for final salary pensions

• 8 December 2016
  
• From the section Business
  

Sports Direct chairman lambasts critics

• 8 December 2016
  
• From the section Business
  

'Easy money' schemes a risk to young

• 8 December 2016
  
• From the section Business
  

MPs want clampdown on betting machines

• 8 December 2016
  
• From the section Business
  

Energy firms held £4bn in overpayments

• 8 December 2016
  
• From the section Business
  

Paris in 'advanced talks' with UK banks

• 8 December 2016
  
• From the section Business
  
• comments
  

Capita shares plunge after profit warning

• 8 December 2016
  
• From the section Business
  

Travel behaviour sees 'seismic shifts'

• 8 December 2016
  
• From the section Business
  

Also in the News

Michael Jordan wins China trademark case

• 8 December 2016
  
• From the section Business
  

£5 notes 'worth £20,000' in circulation

• 7 December 2016
  
• From the section South Scotland
  

Features & Analysis

'Toxic employee'

How can a company best deal with a troublemaker?

Trump’s Likely Labor Pick, Andrew Puzder, Is Critic of Minimum Wage Increases

By NOAM SCHEIBER and MAGGIE HABERMAN 11:39 AM ET

Mr. Puzder, chief executive of the company behind Hardee’s and Carl’s Jr., also strongly supports repealing the Affordable Care Act.

Laura Morton for The New York Times

Automated Assistants Will Soon Make a Bid for Your Finances

By NATHANIEL POPPER

Companies are vying to create automated financial assistants that employ artificial intelligence; one was directly inspired by science fiction.

Wary Corporate Chiefs Keep an Ear Tuned to Trump’s Messages

By NELSON D. SCHWARTZ

Initially aiming to pressure companies like Ford and Carrier to keep factory jobs at home instead of moving them to Mexico, Mr. Trump has increased the stakes.

Donald Trump Is Said to Intend to Keep a Stake in His Business

By MAGGIE HABERMAN and JO BECKER

The president-elect is said to be considering turning over his company to his two adult sons, but planning to resist calls to divest.

S.E.C.’s Top Enforcer to Depart at Year-End

By MICHAEL J. de la MERCED 32 minutes ago

Andrew Ceresney announced plans to leave agency after three years as Wall Street’s regulators continue to wind down their tenures.

Surge in Dollar Provokes Jitters in Emerging Markets Around World

By LANDON THOMAS Jr. 12:41 PM ET

Countries that have been binging on cheap dollar debt for more than a decade now face a spike in debt servicing costs and elevated debt burdens.

Trump Picks Scott Pruitt, Climate Change Denialist, to Lead E.P.A.

By CORAL DAVENPORT and ERIC LIPTON

Mr. Pruitt, the Oklahoma attorney general, has been a key architect of the legal battle against President Obama’s climate change policies.

• 2722 Comments
  

Worried Auto Industry Braces for Change Under Trump

By BILL VLASIC 10:55 AM ET

Tariffs on imported vehicles and parts and fewer subsidies for electric cars are among the possible changes that concern domestic automakers.

E.U. Threatens to Sue 4 Countries Where VW Sold Polluting Cars

By JAMES KANTER and JACK EWING

The move against Britain, Germany, Luxembourg and Spain is an apparent attempt to catch up after facing criticism for a lax response to a yearlong scandal.

Tied to Europe, Britain’s Car Industry Is Vulnerable After ‘Brexit’

By STANLEY REED

After becoming an efficient industry with deep links to the Continent, it must grapple with the impact of the country’s vote to leave the European Union.

E.C.B. Extends Bond-Buying Program to Protect Eurozone Economy

By JACK EWING 1:06 PM ET

The European Central Bank also said it would cut the size of the program next year, while insisting it had no plans to end asset purchases altogether.

With LinkedIn, Microsoft Looks to Avoid Past Acquisition Busts

By NICK WINGFIELD 9:18 AM ET

The technology giant has not had a great track record with the companies it acquires. The hope is that it has learned from its mistakes.

Use of E-Cigarettes by Young People Is Major Concern, Surgeon General Declares

By MATT RICHTEL

E-cigarettes are now the most commonly used tobacco product among youths, surpassing tobacco cigarettes, according to a new report.

Former French Official Convicted of Tax Fraud

By BENOÎT MORENNE 12:22 PM ET

A prison sentence for Jérôme Cahuzac is an embarrassment for the troubled administration of President François Hollande, who has said he will not run for re-election.

Gun Control Advocates Find a Deep-Pocketed Ally in Big Law

By JESSICA SILVER-GREENBERG and BEN PROTESS

Offering free legal services to the gun control groups, law firms say they are hoping to match the resources, coordination and power of the gun lobby.

• Iran Races to Clinch Oil Deals Before Donald Trump Takes Office 9:55 AM ET
  
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• Indexes Hit Record Highs as Trump Rally Continues 11:45 AM ET
  
• New Orleans Becomes New Model for Airbnb to Work With Cities
  
• Nonprofit Journalism Groups Are Gearing Up With Flood of Donations
  
• Tiny Snail Defeats Donald Trump in Battle Over Irish Sea Wall
  

Yields rise as ECB trims bond purchases; Wall St. gains

NEW YORK Bond yields rose and the euro dipped on Thursday after the European Central Bank said it would slow its stimulus programme from April, while Wall Street extended the previous session's gains.

7:53pm GMT

Lower for longer, ECB scales back asset buys

FRANKFURT The European Central Bank trimmed back its asset buys in a surprise move on Thursday but promised protracted stimulus to aid a still fragile recovery, and dismissed any talk of tapering the programme away.

5:03pm GMT

RBS ordered to hand over documents in shareholder cash call case

LONDON Royal Bank of Scotland on Thursday lost a court battle to withhold transcripts, notes and interview records from thousands of retail investors suing the bank over an ill-fated, 12 billion pound share sale in 2008.

6:13pm GMT

Deutsche Boerse CEO sees further hurdles ahead in LSE merger

FRANKFURT The chief executive of Deutsche Boerse on Thursday said its planned merger with London Stock Exchange was still a long way off, even if European regulators should give it the green light.

6:23pm GMT

More British hedge funds say may have to move after Brexit - Preqin

LONDON Over thirty percent of British hedge funds say they are uncertain about remaining in the UK following Britain's vote to leave the European Union according to an industry survey, a larger proportion than immediately after the referendum.

5:31pm GMT

Daimler to become 2016's biggest luxury car maker - CEO

FRANKFURT German carmaker Daimler is to become this year's biggest and most profitable luxury car maker, its chief executive said on Thursday.

7:54pm GMT

EU takes legal action against Germany, UK over VW scandal

BRUSSELS The European Union began legal action on Thursday against Germany, Britain and five other member states for failing to police emissions test cheating by carmakers after the Volkswagen diesel scandal.

7:44pm GMT

McDonald's to move international tax base to UK amid EU scrutiny

McDonald's Corp said on Thursday it would move its international tax base to the United Kingdom from Luxembourg after coming under increased scrutiny from European Union regulators over its tax arrangements in the small country.

6:11pm GMT

FTSE lags Europe after ECB extends stimulus

LONDON UK shares rose overall on Thursday - though not as much as European shares after the European Central Bank extended its stimulus programme - while outsourcing firm Capita tumbled after a profit warning.

5:08pm GMT

Daily Mail publisher to cut stake in Euromoney

The publisher of the Daily Mail said on Thursday it would reduce its holding in Euromoney Institutional Investor Plc to about 49 percent from about 67 percent to improve its investment portfolio and lower its debt.

UniCredit to test confidence in Italian banks with huge cash call

MILAN Italy's largest lender, UniCredit , is set to announce next week the country's biggest bank share issue, worth up to 13 billion euros (£11 billion), in what would be a major test of confidence in Italy's wider banking system, sources said.

6:40pm GMT

Russia says "no changes" to December 10 OPEC-non-OPEC meeting

MOSCOW A spokeswoman for Russia's Energy Ministry said on Thursday there were no changes to plans for an OPEC-non-OPEC meeting on oil output in Vienna on Dec. 10.

6:33pm GMT

Former OPEC official El-Badri says non-OPEC cut a 'must' - conference

Abdalla Salem El-Badri, who stepped aside as OPEC Secretary General in August, said Thursday at a conference a crude oil production cut of about 600,000 barrels per day from non-OPEC members is a "must".

6:33pm GMT

Deutsche Boerse CEO sees further hurdles ahead in LSE merger

FRANKFURT The chief executive of Deutsche Boerse on Thursday said its planned merger with London Stock Exchange was still a long way off, even if European regulators should give it the green light.

6:23pm GMT

Daily Mail publisher to cut stake in Euromoney

The publisher of the Daily Mail said on Thursday it would reduce its holding in Euromoney Institutional Investor Plc to about 49 percent from about 67 percent to improve its investment portfolio and lower its debt.

6:14pm GMT

RBS ordered to hand over documents in shareholder cash call case

LONDON Royal Bank of Scotland on Thursday lost a court battle to withhold transcripts, notes and interview records from thousands of retail investors suing the bank over an ill-fated, 12 billion pound share sale in 2008.

6:13pm GMT

McDonald's to move international tax base to UK amid EU scrutiny

McDonald's Corp said on Thursday it would move its international tax base to the United Kingdom from Luxembourg after coming under increased scrutiny from European Union regulators over its tax arrangements in the small country.

6:11pm GMT

Italian bank Intesa to help fund Rosneft deal for Glencore and Qatar - sources

LONDON/MOSCOW Italian bank Intesa Sanpaolo is expected to provide a consortium of Qatar and commodities trader Glencore with sizeable funds to help finance their purchase of a stake in Russian oil company Rosneft, two sources familiar with the transaction said.

6:08pm GMT

China's Fujian drops Aixtron bid after Obama blocks deal

FRANKFURT China's Fujian Grand Chip Investment Fund has dropped its takeover bid for chip equipment maker Aixtron after the United States blocked the deal on security grounds, throwing the German company's future into doubt.

5:35pm GMT

More British hedge funds say may have to move after Brexit - Preqin

LONDON Over thirty percent of British hedge funds say they are uncertain about remaining in the UK following Britain's vote to leave the European Union according to an industry survey, a larger proportion than immediately after the referendum.

Flash crashes prod central banks towards algo arms race

LONDON Central banks investigating whether computer programmes or an individual triggered October's sterling "flash crash", the latest to hit a major financial market, may consider computerised stabilisation programmes as a possible response.

5:15pm GMT

FTSE lags Europe after ECB extends stimulus

LONDON UK shares rose overall on Thursday - though not as much as European shares after the European Central Bank extended its stimulus programme - while outsourcing firm Capita tumbled after a profit warning.

5:08pm GMT

Lower for longer, ECB scales back asset buys

FRANKFURT The European Central Bank trimmed back its asset buys in a surprise move on Thursday but promised protracted stimulus to aid a still fragile recovery, and dismissed any talk of tapering the programme away.

5:03pm GMT

Statement from the ECB following policy meeting

FRANKFURT, Following is the statement from the European Central Bank following its policy meeting.

5:03pm GMT

Draghi comments at ECB press conference

FRANKFURT, Dec 8 The European Central Bank kept interest rates steady at a policy meeting on Thursday but unexpectedly cut its asset purchases to 60 billion euros (51.04 billion pounds) per month, from the current 80 billion euros.

5:03pm GMT

ECB makes little change to growth and inflation forecasts

FRANKFURT The European Central Bank left its economic growth and inflation forecasts largely unchanged on Thursday, predicting that price growth would raise slowly but again miss its target of close to 2 percent in 2019.

5:03pm GMT

ECB to lend out bonds for cash to avoid market squeeze

FRANKFURT The European Central Bank will start accepting cash rather than just bonds as collateral for lending out some of its huge pile of government debt, it said on Thursday, to ease stress in a key short-term funding market.

5:03pm GMT

Weidmann did not agree to ECB decision to extend bond buys - FAZ

FRANKFURT The president of Germany's Bundesbank, Jens Weidmann, did not agree with Thursday's decision by the European Central Bank to extend its bond purchases, German newspaper the Frankfurter Allgemeine Zeitung (FAZ) reported.

5:03pm GMT

Sterling jumps 1 percent against euro after ECB extends bond buying

LONDON Sterling jumped 1 percent against a broadly weaker euro on Thursday after the European Central Bank extended its quantitative easing programme for a longer period than expected, albeit at a slower pace.

4:46pm GMT

ThyssenKrupp secrets stolen in 'massive' cyber attack

FRANKFURT Technical trade secrets were stolen from the steel production and manufacturing plant design divisions of ThyssenKrupp AG in cyber attacks earlier this year, the German company said on Thursday.

Capita warns on profit again as Brexit slowdown exposes flaws

EDINBURGH Outsourcing group Capita announced the sale of its asset management services arm alongside a second profit warning in three months on Thursday, exposing flaws in its strategy made worse by the Brexit vote and sending its share price crashing.

4:10pm GMT

UK power capacity auction for 2020/21 clears in 20-25 pounds kW/year range

LONDON Britain secured backup electricity capacity for 2020/21 within a 20 to 25 pounds per kilowatt (kW)/year range, data on the National Grid auction website showed on Thursday, with contracts for around 52 gigawatts (GW) of electricity awarded.

3:54pm GMT

IMF says retains confidence in Lagarde over French trial

WASHINGTON The International Monetary Fund said on Thursday that its executive board continues to be briefed on the French court case involving Managing Director Christine Lagarde and retains confidence in her ability to lead the international organization.

3:39pm GMT

Lufthansa CEO sees no further pilot strikes this year

FRANKFURT Strikes by pilots at Lufthansa have cost Germany's largest carrier 100 million euros ($106 million) in lost profit this year, but chief executive Carsten Spohr said he is hopeful further strikes can be averted by mediation.

3:32pm GMT

In quiet times, Barclays bets on investment banking in Brexit UK

LONDON Barclays Plc is taking a contrarian bet that Britain's vote to leave the European Union will help it win more investment banking business in its home market, despite the sharp slowdown in deal activity since the referendum.

3:29pm GMT

European Parliament committee says reject EU-Canada trade deal

BRUSSELS An EU-Canada free trade deal will destroy jobs in Europe and should be rejected, a committee of the European Parliament concluded on Thursday.

2:37pm GMT

Germany's highest court to rule on nuclear fuel tax in 2017

DUESSELDORF, Germany Germany's highest court will decide next year on complaints brought by utilities against a tax on nuclear fuel rods, a spokesman said on Thursday, in a further challenge to the government's energy policy.

2:20pm GMT

U.S. jobless claims drop from five-month high

WASHINGTON The number of Americans filing for unemployment benefits fell from a five-month high last week, pointing to labour strength that underscores the economy's sustained momentum.

2:10pm GMT

Ericsson says Swedish staff cuts running ahead of plan

STOCKHOLM Struggling telecom equipment maker Ericsson said on Thursday sweeping staff cuts in its Swedish home market were running ahead of schedule, resulting in higher restructuring costs this year.

1:52pm GMT

ECB loosens its bond-buying rules

FRANKFURT The European Central Bank will loosen its bond-purchasing rules in January, its president said on Thursday, lowering its debt purchase maturity limit to one year from the existing two years.

National Grid picks Macquarie-led group for $7 billion gas grid stake sale

LONDON National Grid has sold a majority stake in its gas network in a 5.4 billion pound deal which could test Prime Minister Theresa May's pledge to vet infrastructure sales to foreign buyers.

1:30pm GMT

Despite Brexit, EU makes progress on capital market plan

BRUSSELS A European Union plan to bolster its capital markets received a boost from two preliminary deals to revive the credit sector, EU officials said on Thursday, a sign that Britain's vote to leave the bloc may not hamper the project.

1:18pm GMT

Inmarsat switches to Arianespace for satellite launch after SpaceX delays

LONDON British satellite company Inmarsat will switch to using Arianespace from rival SpaceX to launch a new satellite to provide broadband connectivity to air passengers, it said on Thursday.

1:16pm GMT

MPs urge clampdown on bookmakers' betting machines

LONDON Britain should drastically reduce the amount of money gamblers can stake on fixed-odds betting terminals to tackle addiction and associated crime, a group of MPs said on Thursday.

1:12pm GMT

U.S. economic outlook unmoved so far after Trump win - Reuters poll

Donald Trump's shock White House win has not altered U.S. economic forecasts much, with economists in a Reuters poll expecting three rate rises by the end of next year based on little follow-through on most of the soon-to-be president's protectionist campaign promises.

1:06pm GMT

Irish central bank fears side effects of proposed mortgage role

DUBLIN Ireland's central bank believes a proposed law to hand it powers to intervene in setting mortgage rates may have a range of damaging side effects but it would have a duty to use the powers if enacted, a senior official said on Thursday.

12:49pm GMT

Germany says takes note of withdrawal of takeover offer for Aixtron

FRANKFURT The German government has taken note of China's Fujian Grand Chip Investment Fund withdrawing its takeover bid for German chip equipment maker Aixtron and therefore no longer needs to look into it, a spokesman for the Economy Ministry said.

12:19pm GMT

Airlines facing first profits drop in six years in 2017 - IATA

GENEVA Airlines will see profits fall for the first time in six years in 2017, after peaking this year, as rising oil and labour costs bite and demand slows, the International Air Transport Association said on Thursday.

12:10pm GMT

FCA sends warning letter to debt firms

LONDON Firms that help people manage debt repayments are failing to make regular checks on customers and could be fined, Britain's financial watchdog said on Thursday.

12:03pm GMT

ECB to extend money printing, consider signal about its end

FRANKFURT The European Central Bank will extend its already generous asset buys on Thursday, aiming to boost stubbornly weak inflation, but with much of its firepower exhausted it may also debate sending a token signal about the eventual end of such purchases.

Sports Direct warns tough times ahead after Brexit knocks profit

LONDON Sports Direct ended a tough 2016 with a warning that trading was not going to get any easier next year after a slump in first-half profit, sparking another fall in its shares.

11:15am GMT

UK housing, hiring stay resilient despite Brexit vote - surveys

LONDON British house prices hit a seven-month high in November and companies hired more workers, surveys showed on Thursday, suggesting the economy remained resilient five months after Britain's vote to leave the European Union.

11:15am GMT

OECD leading indicator flags growth building in advanced economies

PARIS Growth momentum is picking up in major advanced economies while growth is also expected to gain speed in China, the OECD's monthly leading indicators indicated on Thursday.

11:06am GMT

OPEC deal will pack little punch in raising oil prices - Reuters poll

OPEC's landmark oil-production deal may prove effective in running down global inventories, but analysts hold little hope for much of a rise in prices, a Reuters poll showed on Thursday.

11:01am GMT

Sterling edges up after weakest daily performance in 2 months

LONDON Sterling edged up on Thursday, recovering from its worst daily performance in two months on a trade-weighted basis, after weak industrial data and a parliamentary vote to stick to the British prime minister's Brexit timetable weighed on the currency.

10:56am GMT

AccorHotels strengthens luxury hotels portfolio with Banyan Tree deal

PARIS AccorHotels has bought an initial five percent stake in Singapore's Banyan Tree Holdings as part of Accor's current strategy to strengthen its luxury hotels portfolio to give a boost to its earnings.

10:48am GMT

Shell appoints Gasser Hanter to head Egypt business

CAIRO Royal Dutch Shell has appointed Gasser Hanter to head its Egypt business, the company said on Thursday.

10:36am GMT

Sweden joins dash to host EU drugs agency instead of London after Brexit

STOCKHOLM The Swedish government on Thursday launched a campaign to become the new host of the London-based European drugs agency after Britain's vote to leave the European Union and compete with offers from other EU members including Spain, France and Poland.

10:26am GMT

Kremlin says Rosneft deal with Qatar, Glencore purely commercial

MOSCOW The Kremlin said on Thursday that a deal for Russian oil major Rosneft to sell a stake to Qatar and commodities trader Glencore was purely commercial and not political.

10:19am GMT

Axel Springer to launch German soccer daily newspaper

BERLIN/FRANKFURT Publisher Axel Springer plans to launch Germany's first daily sports newspaper next month, focusing on soccer as it seeks to offset a decline in sales at its established print business.

Ocado says new high-tech centre boosts chances of international deal

LONDON Ocado believes the start of operations at its third major UK distribution centre, its most high-tech yet, should help it to secure a long-awaited deal with an international partner, the online supermarket group said on Thursday.

10:11am GMT

TUI Group forecasts profit growth of 10 percent a year until 2019

LONDON TUI Group , Europe's largest travel company, announced an extended profit forecast on Thursday in a show of confidence after posting 12.5 percent annual core earnings growth despite disruption as holidaymakers avoided destinations such as Turkey.

9:47am GMT

Novae's shares slump after insurer warns on FY underwriting contributions

Lloyd's of London insurer Novae Group Plc said larger individual risk and catastrophe losses in the year would lead to its full-year underwriting contribution being lower than it expected, sending its stock plunging.

9:20am GMT

Exclusive: Edmond de Rothschild to close Hong Kong operations - sources

HONG KONG Swiss private bank Edmond de Rothschild is closing its Hong Kong operations, according to three people familiar with the matter, more than two decades after it opened shop in the former British territory and as costs in the wealth management industry bite.

9:17am GMT

Solar Impulse founder sees electric passenger plane in 10 years

GENEVA The co-founder of a project that saw a solar-powered aircraft complete the first fuel-free flight around the world this year expects electric passenger planes to operate in just under 10 years.

9:13am GMT

E.ON sees limited scope for nuclear claims after ruling - Bernstein

FRANKFURT E.ON sees limited scope for compensation claims following a court ruling related to Germany's nuclear exit that paves the way for utilities to try to reclaim money, its chief executive told brokerage Bernstein in an interview.

9:05am GMT

Investors face nervous wait for ECB's final salvo of 2016

LONDON Euro zone government bond yields crept higher as investors waited to see whether the European Central Bank would meet their high expectations for fresh stimulus at its final meeting of the year on Thursday.

8:58am GMT

China Nov trade rises unexpectedly in sign of global pick-up but Trump clouds 2017

BEIJING China's imports grew at the fastest pace in more than two years in November, fuelled by its strong thirst for commodities from coal to iron ore, while exports also rose unexpectedly, reflecting a pick-up in both domestic and global demand.

8:39am GMT

European shares hit three-month high, focus on ECB

LONDON European shares climbed to a three-month high on Thursday, mirroring gains on Wall Street and in Asia, with investors betting that the European Central Bank will extend its asset purchase programme after a policy meeting later in the day.

EFG International says to cut up to 450 jobs in BSI integration

ZURICH Swiss private bank EFG International said on Thursday it expects to cut up to 450 jobs between 2017 and 2019 as it laid out planned savings from its newly acquired BSI Bank.

7:55am GMT

Japan third quarter growth slashed as capex, inventories shrink

TOKYO Japan's economy grew much slower than initially estimated in the third quarter, revised data showed, as capital expenditure dried up and companies ran down inventories - renewing concerns about Japan's growth prospects.

7:33am GMT

China goes on unexpected commodities splurge

BEIJING China's imports of commodities surged unexpectedly last month putting the world's second-largest economy on track to set records for shipments of iron ore, coal and soybeans even as concerns linger about slowing economic growth.

7:30am GMT

Japan plans tax break to encourage spouses to work more hours

TOKYO Japan's ruling coalition approved a plan on Thursday to increase a tax credit for married couples to encourage spouses who work part-time to increase their hours, hoping to relieve chronic labour shortages in some sectors.

7:14am GMT

China vows to punish local govt officials for forging economic data

BEIJING Some local government officials in China have forged economic data and such offenders will be severely punished, the country's statistics chief wrote in an article in the People's Daily on Thursday.

5:19am GMT

New number-crunching gets Japan's GDP closer to premier's goal

TOKYO Japan's economy just grew by $278 billion (219.92 billion pounds) - about the size of South Africa's entire gross domestic product - thanks to an accounting change (and some better data).

4:15am GMT

Airbnb backs off fight with governments, offers policy suggestions

SAN FRANCISCO In a moment of peace-making with regulators, Airbnb on Wednesday released a set of policy suggestions for governments that are considering new laws for home- and apartment-renting.

3:23am GMT

S.Korea worries about growing economic risks, amid impeachment push for President Park

SEOUL South Korea' finance ministry said on Thursday it is concerned about further risks to the economy from "domestic issues", as parliament prepares to hold an impeachment vote on South Korean President Park Geun-hye.

2:47am GMT

Japan to increase loan to Fukushima operator Tepco to $123 billion -source

TOKYO Japan will increase an interest-free loan to the operator of the wrecked Fukushima nuclear plant, Tokyo Electric Power , by more than a third to 14 trillion yen (97.30 billion pounds)a source familiar with the matter said on Thursday.

1:58am GMT

China November forex reserves fall more than expected to lowest in nearly six years

BEIJING China's foreign exchange reserves fell far more than expected in November to the lowest level in nearly six years, as authorities struggled to stem capital outflows and shore up the sliding yuan in the face of the relentlessly rising dollar.

Exclusive - Teva investigating allegations by tipster of bribery in Romania

WASHINGTON Teva Pharmaceutical Industries is investigating claims by an anonymous tipster that the company bribed state healthcare workers in Romania to get them to prescribe its medication, a Teva spokeswoman said.

07 Dec 2016

China says fines Medtronic local unit 118.5 million yuan for price fixing

BEIJING/SHANGHAI A Chinese regulator has fined a local unit of U.S.-listed medical device firm Medtronic PLC 118.5 million yuan (£13.6 million) for price fixing, the National Development and Reform Commission (NDRC) said in a statement on Wednesday.

07 Dec 2016

Japan Inc warns of global trade contraction under Trump presidency - Reuters poll

TOKYO Corporate Japan is bracing for a rocky ride under incoming U.S. President Donald Trump, a Reuters poll showed, with well over a third of firms seeing a contraction in global trade as concerns about a rise in U.S. protectionism threaten to shatter a fragile economic recovery.

07 Dec 2016

ICE told to speed up investigations on U.S. futures exchange

NEW YORK Intercontinental Exchange Inc generally takes too long to complete investigations into questionable trading practices on its U.S. futures exchange as required by the rules, the regulator said.

07 Dec 2016

Exclusive - U.S. regulator set to fail Wells Fargo on community lending test -sources

WASHINGTON A U.S. bank regulator is ready to fail Wells Fargo on a national scorecard for community lending, sources familiar with the decision said on Wednesday, in a move that could limit near-term expansion for the bank.

07 Dec 2016

Australian regulator will not block ChemChina's Syngenta bid

SYDNEY Australia's competition regulator said on Thursday it will not oppose state-owned Chinese chemicals group ChemChina's proposed $43 billion (£34 billion) acquisition of Swiss seeds group Syngenta.

Deutsche Bank Provides "Smoking Gun" Proof Of Massive Rigging And Fraud In The Silver Market

China's Latest Capital Control: A Crackdown On Macau ATM Cash Withdrawals

Waiting For The Trump Fiscal Stimulus To Hit? Forget About 2017

Schiller Warns: Stocks Are Partying Like Its 1929!

"Paper Money Disappears" Among Nomura's 10 Grey Swan Events For 2017

ECB Introduces Cash Collateral To Resolve Shortage Of Eligible Eurosystem Collateral

The Globalization Genie's Long Left The Bottle

Mario Draghi Explains His Dovish Taper (Hawkish Easing) - ECB Press Conference Live Feed

ECB Stuns Markets, Announces Tapering Of Bond Purchases To €60 Billion

Here's What Happens When A Currency Completely Breaks Down

The Next Domino Falls As Predicted... Here's What Comes Next

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No sign of major export boost from sterling depreciation

Watchdog announces crack down on crowdfunding and peer-to-peer lending

M&S boss Steve Rowe's monstrous pay package should surprise no one

Banks want to stay under EU law for up to five years after Brexit

UK food prices 'will rise unless Government can keep EU workers'

Trump and Brexit mean turbulent year ahead for Europe, says Draghi

McDonald’s moves non-US base to UK after run-in with EU tax regulators

Move away from Luxembourg appears politically motivated, but McDonald's says the choice of Britain as the destination is a post-Brexit vote of confidence

Two pieces of money 'advice' could ruin your chance at getting rich

If you dig through the troves of financial advice out there, you're sure to find contradictory guidance. Money can be complicated, and everyone's got an opinion about it.

London's banks checking out Paris, but Government could keep them here

'Green gas' plants that use grass proposed for fracking sites

Major German companies including BMW pull advertising from Breitbart

The carmaker BMW, the restaurant chain Vapiano, the supermarket chain Rewe, and Deutsche Telekom have all pulled their ads from the pro-Trump news site due to concerns about its content

National Grid sells UK gas infrastructure to China and Qatar

The network supplies 11 million homes with energy through 82,000 miles of pipeline – its sale will reignite concerns over foreign ownership of critical infrastructure

Sports Direct spends £40m on corporate jet amid alarming dive in profi

The plane joins other assets including a helicopter founder Mike Ashley uses to commute to the retailer’s Derbyshire headquarters

Rogue electors won't stop Trump presidency, could affect state laws

An unprecedented number of Electoral College members are expected to break with their states' popular vote results when casting their votes on December 19.

EU sues Germany and Britain over Volkswagen emissions scandal

Michael Jordan gets his name back in China with rare legal victory

Vladimir Putin sells €10bn stake in oil company despite sanctions

President personally announced the sale of 19.5% of Rosneft on television; it’s the biggest foreign investment in the country since the Ukraine crisis began

UK-based banks in 'advanced talks' over move to Paris due to Brexit

Regulator says companies have already conducted due diligence to move operations to the French capital

Sports Direct's Homer and Abe Simpson are at it again

Sports Direct chairman hits out at critics as profits plunge

Chancellor Philip Hammond must listen to Tyrie on taxpayer owned banks

UKFI, which is supposed to manage the state's interests at arm's length, should be closed down

Once an Oil Executive, Now a Crusader Against Fossil Fuel Stocks

By JAMES B. STEWART 11:35 AM ET

Louis Allstadt, a retired Exxon executive, led an effort to divest a pension fund in Cooperstown, N.Y., of stock in oil, gas and coal, a plan that has ignited a furor.

Emma Tannenbaum for The New York Times

Louis Allstadt at Otsego Lake in Cooperstown, N.Y. A former oil executive and a town trustee for Cooperstown, he is credited with influencing a move to divest a pension fund of fossil fuel stocks.

Trump’s Labor Pick, Andrew Puzder, Is Critic of Minimum Wage Increases

By NOAM SCHEIBER

Mr. Puzder, chief executive of the company behind Hardee’s and Carl’s Jr., also strongly supports repealing the Affordable Care Act.

• 2037 Comments
  

The Upshot

What Would It Take to Replace the Pay Working-Class Americans Have Lost?

By NEIL IRWIN 10:02 AM ET

Poor and working-class Americans have fallen behind the rest of the country. A tweak of the tax system could help them, but it wouldn’t be cheap.

Clean Energy ‘Moving Forward’ Despite Trump’s E.P.A. Pick, Experts Say

By CORAL DAVENPORT

Donald J. Trump’s choice of a climate-change denier won’t undo all of the nation’s efforts to shift from coal and oil, scientists and industry experts say.

As ‘The Apprentice’ Returns to TV, Trump Stands to Profit

By MICHAEL M. GRYNBAUM

The president-elect will be credited as an executive producer in the coming season of “The New Celebrity Apprentice” and retains a financial stake in the franchise.

Worried Auto Industry Braces for Change Under Trump

By BILL VLASIC

Tariffs on imported vehicles and parts and fewer subsidies for electric cars are among the possible changes that concern domestic automakers.

Obama Orders Intelligence Report on Russian Election Hacking

By DAVID E. SANGER 12:42 PM ET

“We may have crossed a new threshold here,” a security adviser said. Agencies were told to turn in their findings before the president leaves office.

• 273 Comments
  

21st Century Fox Reaches Preliminary Deal to Buy Sky

By CHAD BRAY 1:22 PM ET

The takeover bid came five years after its predecessor company, News Corporation, abandoned a bid to buy the British satellite television operator.

North Dakota Could Be Biggest Loser in Ruling Against Oil Pipeline

By CLIFFORD KRAUSS

Delays are costing the pipeline’s builder hundreds of millions of dollars, but the nation’s energy supply is unlikely to suffer.

Former Insys Officials Charged in Scheme to Push Its Painkiller

By KATIE THOMAS

According to the indictment, the employees, including the C.E.O., offered bribes to doctors to get them to prescribe more of the company’s product, Subsys.

Congress Moves to Curb Ticket Scalping, Banning Bots Used Online

By BEN SISARIO

The Better Online Ticket Sales, or BOTS, Act, which takes aim at computer programs that circumvent ticketing websites’ security measures, will now go to President Obama.

Surge in Dollar Provokes Jitters in Emerging Markets Around World

By LANDON THOMAS Jr.

Countries that have been binging on cheap dollar debt for more than a decade now face a spike in debt servicing costs and elevated debt burdens.

• Health, Tech Stocks Extend Wall Street Record-Setting Rally 11:48 AM ET
  
• Coke CEO Muhtar Kent Hands Reins to Quincey in Widely Expected Move 11:54 AM ET
  
• With LinkedIn, Microsoft Looks to Avoid Past Acquisition Busts
  
• S.E.C.’s Top Enforcer to Depart at Year-End 11:30 AM ET
  
• Tied to Europe, Britain’s Car Industry Is Vulnerable After ‘Brexit’
  
• Use of E-Cigarettes by Young People Is Major Concern, Surgeon General Declares
  

21st Century Fox in bid approach for Sky

US media giant 21st Century Fox has made a takeover approach for Sky, the UK-based satellite broadcaster.

• 9 December 2016
  
• From the section Business
  

Related content

• James Murdoch takes over at Sky
  

Unpaid benefits at record level

A total of £1.7bn in benefits was not paid to those entitled to the money in 2015-16 owing to fraud and error.

• 9 December 2016
  
• From the section Business
  

Related content

• Disabled children underpaid tax credits
  
• Benefit delays 'leave families hungry'
  

Live UK-built high-speed train showcased

Hitachi unveils the first UK-built Intercity Express train, which is capable of running at 140mph.

• From the section Business
  

Monte dei Paschi hit by ECB reports

• 9 December 2016
  
• From the section Business
  

Food prices 'to rise without EU workers'

• 9 December 2016
  
• From the section Business
  
• comments
  

New high-speed Intercity train unveiled

• 9 December 2016
  
• From the section Tees
  

UK trade deficit narrows in October

• 9 December 2016
  
• From the section Business
  

Sumitomo to buy banana company Fyffes

• 9 December 2016
  
• From the section Business
  

FTSE 100 bolstered by Sky share surge

• 9 December 2016
  
• From the section Business
  

FCA proposes tougher crowdfunding rules

• 9 December 2016
  
• From the section Business
  

Batteries to play greater role in UK grid

• 9 December 2016
  
• From the section Business
  

Councils make extra £60m from parking

• 9 December 2016
  
• From the section England
  
• comments
  

Also in the News

Michael Jordan wins China trademark case

• 8 December 2016
  
• From the section Business
  

£5 notes 'worth £20,000' in circulation

• 7 December 2016
  
• From the section South Scotland
  

Features & Analysis

Changing minds

How do we talk about mental illness at work?

• 9 December 2016
  
• From the section Business
  

Spot the difference

How dumb online advertising is getting smarter