Reuters - Before the Bell

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Tuesday, August 8, 2017

Mazda announces breakthrough in long-coveted engine technology

TOKYO (Reuters) - Mazda Motor Corp said it would become the world's first automaker to commercialize a much more efficient petrol engine using technology that deep-pocketed rivals have been trying to engineer for decades, a twist in an industry increasingly going electric.

Exclusive: British banks' turnaround plans frustrated by U.S. justice delays

LONDON (Reuters) - Legal and investigative delays at the U.S. Department of Justice are thwarting efforts by three of Britain's biggest banks to rehabilitate themselves after the global financial crash and other problems, the banks' chief executives have said.

Baker Hughes clinches integrated services contract for PNG gas field

LONDON (Reuters) - Baker Hughes, now part of General Electric , has won a major contract to provide a wide range of services to develop Papua New Guinea's first offshore gas field which is sees as a new model to help producers adapt to a world of low oil prices.

Envision to sell ambulance business to KKR in $2.4 billion deal

(Reuters) - Envision Healthcare Corp said on Tuesday it would sell its ambulance business to buyout firm KKR & Co in an all-cash deal valued at $2.4 billion as it sharpens its focus on its core businesses.

Michael Kors profit falls 15 percent

(Reuters) - Michael Kors Holdings Ltd reported a 15 percent drop in quarterly profit on Tuesday, as the U.S. fashion accessories maker sold fewer items to department stores.

Time Inc misses revenue estimates as advertising sales slip

(Reuters) - Time Inc , the publisher of Fortune, People and Time magazines, reported a lower-than-expected quarterly revenue on Tuesday, hurt by declines in magazine sales and advertising revenue.

Commonwealth Bank scraps CEO bonus over money-laundering allegations

MELBOURNE (Reuters) - Commonwealth Bank of Australia on Tuesday scrapped its chief executive's bonus for damaging the bank's reputation amid allegations it broke money-laundering and counter-terrorism financing laws, but said he retained the board's confidence.

Oil prices steady as Saudi cuts September supplies

LONDON (Reuters) - Oil prices steadied on Tuesday after news of lower crude supplies from Saudi Arabia offset higher output from other large producers including the United States.

Autonomous cars race narrows on doubts about clear path to profit

FRANKFURT/DETROIT (Reuters) - BMW and Daimler, the world's top luxury carmakers, have announced alliances with suppliers, talking up the virtues of having a bigger pool of engineers to develop a self-driving car.

McDonald's bumps up estimate for stores in China by 2022

SHANGHAI (Reuters) - McDonald's Corp said it would almost double the number of stores in mainland China by 2022, slightly more than was expected, as part of its strategic partnership with state-backed conglomerate CITIC Ltd and Carlyle Group.