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Friday, August 25, 2017

Stocks heading for best weeks in six ahead of Yellen, Draghi speeches

LONDON (Reuters) - World stocks climbed toward their best week in six on Friday, as a near three-year high in emerging market shares and a roaring rally in metals bolstered the year's global bull run.

Samsung leader Jay Y. Lee given five-year jail sentence for bribery

SEOUL (Reuters) - The billionaire head of South Korea's Samsung Group, Jay Y. Lee, was sentenced to five years in jail for bribery on Friday in a watershed for the country's decades-long economic order dominated by powerful, family-run conglomerates.

Without insurance, some vendors balk at stocking Sears’ shelves

(Reuters) - U.S. department store operator Sears Holdings Corp is having trouble stocking shelves, as some vendors have fled while others are demanding stricter payment terms because of difficulties hedging against default risk.

Fiat Chrysler says will always evaluate deal inquiries

MILAN (Reuters) - Fiat Chrysler (FCA) said on Friday it would evaluate any inquiries about potential transactions, but did not have anything to add to its previous comments on reported interest from China's Great Wall Motor in its Jeep brand.

Britain heads back to the Brexit table, plans in hand, economy in decline

LONDON (Reuters) - Britain's economy is beginning to feel the Brexit pinch, or perhaps given the strong performance of the rest of the world economy, it should be punch.

Futures higher as investors await Yellen's speech

(Reuters) - U.S. stock index futures were higher on Friday as investors await Fed Chair Janet Yellen's speech at the central bankers' symposium in Jackson Hole, Wyoming, for clues regarding the future path of monetary tightening.

VW manager told CEO about U.S. 'cheating' in July 2015: media

FRANKFURT/HAMBURG (Reuters) - A former senior quality manager at Volkswagen has told investigators he informed then-CEO Martin Winterkorn on July 27, 2015, that the carmaker had "cheated" during emissions tests in the United States, German media reported on Friday.

Air Berlin frequent flyer programme files for insolvency

BERLIN (Reuters) - Air Berlin's frequent flyer programme filed for insolvency on Friday, bad news for members with points on their accounts, which they can no longer use.

Exclusive: New Russia sanctions disrupt major Intesa loan syndication

LONDON/MILAN (Reuters) - Italian bank Intesa Sanpaolo has encountered problems syndicating a loan to Glencore and Qatar's wealth fund to finance their purchase of a stake in the Kremlin-controlled oil major Rosneft because of new U.S. sanctions against Russia.

Exclusive: U.S. steel executives appeal directly to Trump for import restrictions

WASHINGTON (Reuters) - American steel industry executives have appealed directly to President Donald Trump for immediate import restrictions in a letter seen by Reuters, as a U.S. Commerce Department national security probe languishes and steel imports surge back to 2015 levels.