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More efficient SUVs a factor in product strategy: Ford CEO

Reuters Business News - Thu, 12/14/2017 - 18:54
DETROIT (Reuters) - Ford Chief Executive Jim Hackett said on Thursday the automaker is reviewing its product portfolio as consumers show a preference for sport utility vehicles that have fuel efficiencies closer to sedans.
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Airbus planemaking chief Bregier to leave in February: sources

Reuters Business News - Thu, 12/14/2017 - 18:50
PARIS (Reuters) - Airbus planemaking chief Fabrice Bregier plans to leave the aerospace group after the board intervened to resolve tensions over the future succession to Chief Executive Tom Enders, sources familiar with the matter said on Thursday.
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Wall Street falls as investors fret about tax bill passage

Reuters Business News - Thu, 12/14/2017 - 18:05
NEW YORK (Reuters) - Major U.S. stock indexes fell on Thursday, with the S&P 500 down the most in a month, as investor worries over potential roadblocks to the Republicans' tax overhaul more than offset optimism over strong retail sales data.
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Airbus planemaking chief Bregier to step down: sources

Reuters Business News - Thu, 12/14/2017 - 17:37
PARIS (Reuters) - Airbus planemaking chief Fabrice Bregier is leaving the aerospace group after losing a long-running power battle with Chief Executive Tom Enders, three sources familiar with the matter said on Thursday.
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Ford to move autonomous vehicle business to Detroit

Reuters Business News - Thu, 12/14/2017 - 17:34
(Reuters) - Ford Motor Co said on Thursday it would relocate its autonomous and electric vehicle units to Detroit from Dearborn, Michigan.
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U.S. regulatory panel urges monitoring of virtual currencies risks

Reuters Business News - Thu, 12/14/2017 - 17:05
WASHINGTON (Reuters) - A U.S. regulatory panel on Thursday called for watchdogs to closely monitor risks created by financial innovation, warning that fintech and virtual currencies such as bitcoin threaten to disrupt the traditional financial services industry.
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Southwest Airlines would use tax savings on planes, share buybacks

Reuters Business News - Thu, 12/14/2017 - 16:58
NEW YORK (Reuters) - Southwest Airlines Co would use savings from a potential cut to the U.S. corporate tax rate to buy new planes and fund share buybacks, Chief Executive Gary Kelly said on Thursday.
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Wall St falls as investors fret about tax bill passage

Reuters Business News - Thu, 12/14/2017 - 16:45
NEW YORK (Reuters) - Major U.S. stock indexes fell on Thursday, with the S&P 500 down the most in a month, as investor worries over potential roadblocks to the Republicans' tax overhaul more than offset optimism over strong retail sales data.
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Exclusive: Chevron nears Schlumberger deal to drill wells in Brazil: sources

Reuters Business News - Thu, 12/14/2017 - 16:31
RIO DE JANEIRO (Reuters) - Chevron Corp has reached preliminary agreement with oil services firm Schlumberger NV to drill six wells in a Brazilian offshore field, two sources said this week, in a bid to lift its output in the South American country after a 2011 oil spill there cut production.
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Wiese resigns as Steinhoff chairman in wake of accounting scandal

Reuters Business News - Thu, 12/14/2017 - 16:24
BERLIN/JOHANNESBURG (Reuters) - South African tycoon Christo Wiese resigned on Thursday as chairman of Steinhoff , the latest setback for the retail group in the throes of an accounting scandal.
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Leadership of New York Times passes to next-generation Sulzberger

Reuters Business News - Thu, 12/14/2017 - 16:04
NEW YORK (Reuters) - The New York Times on Thursday named a new publisher in 37-year-old A.G. Sulzberger, a fifth-generation descendant of Times leaders whose internal report on innovation has guided a newspaper known as "The Gray Lady" into the digital era.
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Wall Street ends down; investors worry about tax bill passage

Reuters Business News - Thu, 12/14/2017 - 16:02
NEW YORK (Reuters) - U.S. stocks ended lower on Thursday as investors worried about potential roadblocks to Republicans' tax overhaul, offseting their optimism over strong retail sales data.
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Teva Pharm to lay off a quarter of workforce, suspends dividend

Reuters Business News - Thu, 12/14/2017 - 14:30
TEL AVIV (Reuters) - Teva Pharmaceutical Industries is to cut its workforce by more than a quarter, give up many of its manufacturing plants and suspend its dividend on ordinary shares in a much-anticipated overhaul to help pay off its debts.
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Steinhoff says Christo Wiese steps down as chairman

Reuters Business News - Thu, 12/14/2017 - 14:23
BERLIN (Reuters) - South African retail group Steinhoff , which is fighting for survival following its disclosure of accounting irregularities, said tycoon and major shareholder Christo Wiese has stepped down as chairman.
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Exclusive: Guggenheim Partners working to quell investor concern about management

Reuters Business News - Thu, 12/14/2017 - 14:03
NEW YORK (Reuters) - Top executives at asset manager and investment bank Guggenheim Partners LLC are working to quell clients' concerns about the fate of their chief executive officer and about an ongoing examination by U.S. securities regulators.
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Court reverses Dell buyout ruling that alarmed dealmakers

Reuters Business News - Thu, 12/14/2017 - 14:01
WILMINGTON, Del. (Reuters) - Delaware's Supreme Court ruled on Thursday that a lower court erred in finding that the 2013 buyout of computer maker Dell Inc was vastly underpriced, a ruling that had allowed hedge funds to wring extra cash from the deal.
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Pier 1 Imports slumps 30 percent; holiday optimism disappears

Reuters Business News - Thu, 12/14/2017 - 13:35
SAN FRANCISCO (Reuters) - Pier 1 Imports Inc's stock lost nearly a third of its value on Thursday and its main competitors' shares also fell after the furniture and home decorations retailer warned the holiday shopping season was not going well.
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S&P, Dow flat as healthcare losses offset by tech, media gains

Reuters Business News - Thu, 12/14/2017 - 13:21
(Reuters) - The S&P 500 and the Dow were trading flat in early afternoon on Thursday as losses in healthcare stocks such as Johnson & Johnson were offset by gains in shares of technology and consumer discretionary companies.
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Hackers halt plant operations in watershed cyber attack

Reuters Business News - Thu, 12/14/2017 - 13:15
(Reuters) - Hackers likely working for a nation-state recently invaded the safety system of a critical infrastructure facility in a watershed attack that halted plant operations, according to cyber investigators and the firm whose software was targeted.
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Sulzberger Jr to retire as NYT publisher by end of December

Reuters Business News - Thu, 12/14/2017 - 13:14
(Reuters) - Arthur Sulzberger Jr. will retire as publisher of the New York Times by the end of December and will be replaced by his son A.G. Sulzberger, the New York Times Co said on Thursday.
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