Reuters - Before the Bell

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Tuesday, January 2, 2018

BP takes $1.5 billion charge over U.S tax changes, joining Shell

LONDON (Reuters) - BP will take a one-off $1.5 billion charge in its 2017 fourth quarter earnings as a result of new U.S. corporate income tax rules, joining rival Royal Dutch Shell.

Factbox: European winners and losers after U.S. tax overhaul

(Reuters) - U.S. President Donald Trump signed a $1.5 trillion tax overhaul into law on Dec 22, cementing the biggest legislative victory of his first year in office.

Boeing talks not considering change of control at Embraer: paper

SAO PAULO (Reuters) - Tie-up talks between Boeing Co and Embraer SA do not contemplate a change of control at the Brazilian planemaker and are focused on joint ventures and joint business agreements, a Brazilian newspaper reported on Tuesday.

Euro zone factory growth surges to record; more uneven in Asia

LONDON/HONG KONG (Reuters) - Euro zone factories ended 2017 growing at their fastest pace in more than two decades while performance in Asia was more uneven, with its third-largest economy India leading the field and manufacturing giant China unexpectedly resilient.

Hong Kong eyes blockbuster China tech IPO queue, led by Xiaomi

HONG KONG (Reuters) - Hong Kong bankers are eyeing a slew of blockbuster IPOs from Chinese technology firms with a total market capitalization of some $500 billion over the next two years, in a sharp contrast to 2017 - the city's worst year for raising equity in a decade.

Dollar starts 2018 in doldrums, European stocks groggy

LONDON (Reuters) - The ailing dollar fell to its lowest in over three months on Tuesday, while surprisingly upbeat Chinese manufacturing data ensured there was no serious new year hangover for world shares despite a groggy start for Europe.

Oil posts strongest year opening since 2014 as Iran unrest pushes up crude

SINGAPORE (Reuters) - Oil prices posted their strongest opening to a year since 2014 on Tuesday, with crude rising to mid-2015 highs amid large anti-government rallies in Iran and ongoing supply cuts led by OPEC and Russia.

Renault Group says France sales up 3.4 percent in 2017, highest in six years

PARIS (Reuters) - Renault Group said on Tuesday its 2017 sales rose 3.4 percent in France to 673,869 units, the highest in six years, driven by a 6.5 percent increase at its no-frills Dacia brand.

LeEco founder defies China return order, stays in U.S. for car fundraising

SHANGHAI (Reuters) - The founder of debt-laden tech conglomerate LeEco has defied orders from Chinese regulators to return to the country before end-2017, saying he needed to stay in the United States as a fundraising for his electric car startup was making progress.

Hyundai Motor, Kia Motors flag slow sales recovery in 2018

SEOUL (Reuters) - South Korea's Hyundai Motor and Kia Motors on Tuesday flagged 4 percent sales growth in 2018, suggesting a slow recovery from a slump linked to their lack of SUVs in the United States and diplomatic tensions with China.