Reuters - Before the Bell

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Friday, August 25, 2017

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 jailed for five years for bribery on Friday in a watershed for the country's decades-long economic order dominated by powerful, family-run conglomerates.

Loyal supporters of ousted South Korean president root for Samsung leader

SEOUL (Reuters) - Hundreds of rowdy, diehard supporters of ousted South Korean President Park Geun-hye rallied on Friday outside a court demanding the acquittal of Samsung Group leader Jay Y. Lee, as his fate in a bribery was about to be announced inside.

Downfall of ex-Samsung strategy chief leaves 'salarymen' disillusioned

SEOUL (Reuters) - Over four decades, Choi Gee-sung, the fourth son of a poor civil servant, worked his way to the top of South Korea's Samsung Group, one of the world's leading business empires, inspiring a legion of salaried workers.

U.S. accuses former Societe Generale bank managers of Libor scheme

WASHINGTON (Reuters) - U.S. authorities have charged two managers at French bank Societe Generale with taking part in a scheme to manipulate the global U.S. dollar Libor benchmark interest rate.

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.

Lawyer for South Korea's Samsung chief Lee says they will appeal

SEOUL (Reuters) - A lawyer for Samsung Group leader Jay Y. Lee said on Friday the defense team could not accept a court ruling to jail Lee for five years for bribery and will appeal against the decision.

Asia stocks resilient, dollar up before Yellen, Draghi speeches

SINGAPORE (Reuters) - Asian stocks advanced on Friday, once again shrugging off a sluggish day on Wall Street, and the dollar strengthened as attention shifted to the central bankers' symposium that began on Thursday in Jackson Hole, Wyoming.

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.

Uber battle escalates as investors try to intervene in Benchmark lawsuit

SAN FRANCISCO (Reuters) - A battle among shareholders over Uber Technologies Inc [UBER.UL] escalated on Thursday as some investors sought to fight a lawsuit by shareholder Benchmark Capital against ousted Chief Executive Travis Kalanick.

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.