Reuters Business Today: May 17, 2017

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Wednesday, May 17, 2017

Target's profit tops as turnaround efforts pay off, shares jump

(Reuters) - Target Corp reported higher-than-expected quarterly profit and sales as some of its turnaround initiatives, including revamping stores and increased promotions, paid off.

Qualcomm sues four Apple contract manufacturers

(Reuters) - Qualcomm Inc filed a complaint against Foxconn Technology Group and three other Apple Inc contract manufacturers for not paying royalties, firing the latest salvo in its fight with the iPhone maker.

Ford to cut 1,400 white-collar jobs in North America, Asia

(Reuters) - Ford Motor Co said on Wednesday it plans to cut 1,400 salaried jobs in North America and Asia through voluntary early retirement and other financial incentives as the No. 2 U.S. automaker looks to boost its sagging stock price.

Concerns over Trump dent global stocks, dollar

LONDON (Reuters) - Concern that U.S. President Donald Trump's reform agenda could be slowed down, and that Trump himself could even face the threat of impeachment, added to disappointing U.S. economic data on Wednesday to hit the dollar and spur a pullback in richly valued stocks.

Western banks eclipsed by China's along the new Silk Road

BEIJING (Reuters) - For global banks, China's new "Silk Road" is a tantalising concept: billions of dollars in deals, loans and advisory fees, and a cozier relationship with Beijing for those who step up.

Exclusive: Chinese company confirms huge UK fertilizer deal

LONDON/SHANGHAI (Reuters) - A small Chinese company that is key to plans by Sirius Minerals to build a huge fertilizer mine under a national park in the north of England has confirmed it has a binding agreement with the UK firm.

Trade pact dumped by Trump could be revived at Asia-Pacific meeting

HANOI (Reuters) - Japan and other remaining members of the Trans Pacific Partnership will this weekend decide how to revive the trade agreement ditched by U.S. President Donald Trump.

Chinese state media says U.S. should take some blame for cyber attack

BEIJING (Reuters) - Chinese state media on Wednesday criticized the United States for hindering efforts to stop global cyber threats in the wake of the WannaCry "ransomware" attack that has infected more than 300,000 computers worldwide in recent days.

Ralph Lauren names P&G executive Patrice Louvet as CEO

(Reuters) - Ralph Lauren Corp named Procter & Gamble executive Patrice Louvet as chief executive, more than three months after his predecessor left the firm, following differences with founder Ralph Lauren over the direction of the company.

EU starts legal action against Italy over Fiat Chrysler emissions

BRUSSELS/ROME (Reuters) - The European Commission launched legal action against Italy on Wednesday for failing to respond to allegations of emission-test cheating by Fiat Chrysler , in a procedure that could lead to the country being taken to court.

Reuters Business Today: May 17, 2017

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