Reuters - Business Today

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Tuesday, March 7, 2017

U.S. trade deficit rises to near five-year high

WASHINGTON, (Reuters) - The U.S. trade deficit jumped to a near five-year high in January as rising oil prices helped to push up the import bill, suggesting trade would again weigh on economic growth in the first quarter.

Wall Street set to open lower as rate hike looms

(Reuters) - U.S. stocks looked set for a slightly lower open on Tuesday as investors readied themselves for an interest rate hike next week.

HPE to buy Nimble Storage for $1.09 billion in hybrid IT push

(Reuters) - Hewlett Packard Enterprise Co said it would buy data storage provider Nimble Storage Inc for $1.09 billion in cash, as part of the company's focus on the fast-growing hybrid IT market.

Wahaha boss sees U.S. suffering more in any trade war with China

BEIJING (Reuters) - The chairman of China's biggest beverage maker, Hangzhou Wahaha Group, said the United States would suffer more in any trade war with China, with a loss of access to cheap Chinese-made goods hitting American wallets.

Brookfield to take control of SunEdison units for $2.5 billion

(Reuters) - Brookfield Asset Management Inc said on Tuesday it would buy one of the two "yieldcos" of bankrupt U.S. solar company SunEdison Inc and take a 51 percent stake in the other, for a total of about $2.5 billion.

UPS wins court challenge against EU block to TNT bid

BRUSSELS (Reuters) - An EU court agreed with United Parcel Service on Tuesday that the EU had wrongly blocked its takeover of Dutch peer TNT four years ago, potentially allowing the world's largest package delivery company to sue regulators for damages.

Autos bosses focus on technology rather than PSA-Opel

GENEVA (Reuters) - The auto industry is facing seismic changes with the rise of electric vehicles, automated driving and car sharing set to eclipse even big mergers such as PSA's purchase of Opel, executives at the Geneva auto show said.

Snap slumps 12 percent, closes at lowest since IPO

SAN FRANCISCO (Reuters) - Shares of Snap Inc slumped 12 percent on Monday and closed at their lowest level of the three sessions since the Snapchat owner's soaring market debut last week.

Mini boss says UK production not essential to brand

GENEVA (Reuters) - Building in Britain is not essential to BMW's Mini brand as most customers do not know where the compact cars are built and its new electric model could be made elsewhere, the brand's boss told Reuters on Tuesday.

Adidas says Ohlmeyer to succeed Stalker as CFO in May

FRANKFURT (Reuters) - Adidas on Tuesday said it appointed Harm Ohlmeyer, head of the group's global eCommerce business, as new finance chief from May 12, replacing Robin Stalker, who will not extend his contract after more than 16 years in the job.