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Wednesday, December 27, 2017

No Trump windfall for private prisons yet, but some bet on gains

(Reuters) - Investors who bet on private prison operators as big winners from Donald Trump's tough line on crime and illegal immigration are looking back at a bruising year of high hopes and disappointment. Some, however, say the stocks still offer good value even though an anticipated windfall under the Trump administration so far has failed to materialize.

Apple faces lawsuits after saying it slows down aging iPhones

SAN FRANCISCO (Reuters) - Apple Inc defrauded iPhone users by slowing devices without warning to compensate for poor battery performance, according to eight lawsuits filed in various federal courts in the week since the company opened up about the year-old software change.

Stock futures edge higher in quiet holiday trading

(Reuters) - U.S. stock futures edged higher on Wednesday, tracking global equities, which were buoyed by a surge in commodity prices.

South Korea prosecutors seek 12 years jail for Samsung heir Lee in corruption case

SEOUL (Reuters) - South Korean prosecutors sought a 12-year jail term on Wednesday for Samsung Electronics Vice Chairman Jay Y. Lee, in a corruption case that led to the ouster of the nation's president earlier this year.

Airbus ready to axe A380 if fails to win Emirates deal: sources

PARIS (Reuters) - Airbus is drawing up contingency plans to phase out production of the world's largest jetliner, the A380 superjumbo, if it fails to win a key order from Dubai's Emirates, three people familiar with the matter said.

Barclays expects $1.3 billion writedown from U.S. tax reform

LONDON (Reuters) - Barclays expects to take a writedown of about 1 billion pounds ($1.34 billion) on its annual post-tax profit as a result of the U.S. tax overhaul, the bank said in a statement on Wednesday.

Japan manufacturing scandals haven't hurt image but have been powerful lessons: ministry official

TOKYO (Reuters) - A string of data-tampering scandals at Japanese manufacturers has not tarnished Japan's image, though it has been a powerful reminder to avoid sacrificing quality when under cost or delivery pressure, a senior economic official said on Wednesday.

In Pakistan, questions raised over GE's flagship power turbines

ISLAMABAD/SINGAPORE (Reuters) - General Electric's flagship gas turbines ran into problems in Pakistan earlier this year, leading to delays and lengthy outages at three newly built power stations, according to several senior Pakistani officials and power executives.

Russia's standards agency says Nissan to recall 106,340 cars

MOSCOW (Reuters) - Japanese automaker Nissan Motor Co Ltd will recall 106,340 Nissan cars in Russia, Russia's technical safety watchdog Rosstandart said on Wednesday.

Huawei's China smartphone sales chief detained for suspected bribe-taking

HONG KONG (Reuters) - Huawei Technologies , the world's third-largest smartphone maker, said on Wednesday that Chinese police are conducting an investigation, after the China sales head of its smartphone unit was detained on suspicion of accepting bribes.