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Thursday, October 19, 2017

Japan carmakers vouch for safety of some Kobe Steel parts; company future uncertain

TOKYO (Reuters) - Three Japanese automakers on Thursday said they found no safety issues with aluminum parts made by Kobe Steel Ltd , allaying some concerns that falsified quality data on products from the steelmaker had compromised their vehicles.

World stocks stumble after all-time high, kiwi takes a dive

LONDON (Reuters) - World stocks set a fresh record high before stalling in Europe on Thursday, as the longest winning streak for Japanese stocks since 1998 and the first close above 23,000 for Wall Street's Dow index helped to offset nerves in Spain.

Thirty years ago this week, Wall Street slid into the abyss

NEW YORK (Reuters) - Thirty years ago, before heading to work at the New York Stock Exchange, Peter Kenny left his home in lower Manhattan and made a detour to the nearby Our Lady of Victory church to pray to St. Jude, the Roman Catholic patron saint of desperate and lost causes.

Could the 1987 stock market crash happen again?

NEW YORK (Reuters) - On the 30th anniversary of the 1987 stock market crash, U.S. stocks are at a record high and investors are concerned that steep valuations may mean a correction is overdue, despite healthy corporate earnings and economic growth.

Nissan says to suspend all Japanese car production

YOKOHAMA (Reuters) - Nissan said on Thursday it was suspending all car production in Japan after finding that some final vehicle checks were still being carried out by uncertified inspectors at three of its plants.

Unilever sales disappoint as competition bites big brands

LONDON (Reuters) - Unilever reported lower-than-expected third-quarter sales, losing market share to smaller competitors and dampening hopes that an aborted takeover offer from Kraft Heinz would spark a swift improvement.

Rosneft's Sechin says no watershed in oil market, U.S. shale oil a risk

VERONA, Italy (Reuters) - A global deal to cut oil output has not led to a breakthrough on high inventory levels, while an expected rise in U.S. shale oil output may destabilize the market in 2018, the head of Russia's Rosneft, Igor Sechin, said on Thursday.

Novartis to shut U.S. generics plant, cut 450 jobs

ZURICH (Reuters) - Swiss drugmaker Novartis is to cut 450 jobs in the United States over the next two years as it gradually shuts a generics manufacturing plant in Colorado and discontinues some products in the face of intense price pressures.

China biotech's 'coming out party' masks long road ahead

LONDON/SHANGHAI (Reuters) - Investors are betting on China's potential to feed the global pharmaceutical pipeline, putting a multi-billion-dollar price tag on a handful of stocks, even as the country struggles to close a huge R&D gap with the West.

Nasdaq, SGX in pact to woo firms interested in listing on both boards

(Reuters) - Singapore Exchange Ltd (SGX) and Nasdaq Inc said on Wednesday they were teaming up to woo fast-growing Asian tech firms interested in listing on both their exchanges, as they look to better compete for mid-sized IPOs.