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Asia shares up as North Korea tensions ease, wary Fed weighs on dollar

SINGAPORE (Reuters) – Asian stocks edged higher on Thursday as tensions between the United States and North Korea came off the boil, while the Federal Reserve’s concerns about weak U.S. inflation weighed on the dollar.

Buffett’s Berkshire Hathaway will not increase its Oncor offer

(Reuters) – The energy unit of Warren Buffett’s Berkshire Hathaway Inc said on Wednesday it will “stand firm” on its $9 billion offer to acquire 80 percent of Oncor Electric Delivery Company LLC and will not increase its offer.

Cisco’s security business revenue misses estimates, shares drop

(Reuters) – Cisco Systems Inc’s quarterly revenue in its closely-watched security business missed analysts’ estimates, raising concerns about the world’s largest networking gear maker’s efforts to transform into a software-focused company.

Slim’s America Movil wins telecom battle in top Mexico court

MEXICO CITY (Reuters) – Mexico’s Supreme Court on Wednesday ruled billionaire Carlos Slim’s telecommunications company America Movil should not be barred by law from charging competitors certain fees, prompting fears of a rollback of a sweeping antitrust reform.

U.S. talks tough on trade deficit as NAFTA discussions begin

WASHINGTON (Reuters) – The United States drew a hard line for renegotiating the North American Free Trade Agreement on Wednesday, demanding major concessions aimed at slashing trade deficits with Mexico and Canada and boosting U.S. content for autos.

Fed, split by inflation, should forge on with rate hikes: Mester

NEW YORK (Reuters) – A Federal Reserve policymaker on Wednesday staked out the hawkish argument for carrying on with U.S. interest rate hikes even while weak recent inflation readings have split opinions among her colleagues at the U.S. central bank.

Union Pacific to layoff 750 U.S. employees amid broader cost-cutting

(Reuters) – Union Pacific Corp said on Wednesday it will cut roughly 500 management jobs and 250 railroad workers by mid-September as the No. 1 U.S. railroad continues broader cost-cutting.

Seven charged in U.S. insider trading ring

NEW YORK (Reuters) – U.S. authorities on Wednesday announced insider trading charges accusing seven people of generating more than $5 million of profit based on tips from a Bank of America Corp employee about dozens of pending corporate transactions.

Wall Street ends up but off highs after Trump announcement, Fed minutes

NEW YORK (Reuters) – U.S. stocks ended slightly firmer on Wednesday but off the day’s highs as worries mounted over President Donald Trump’s agenda and minutes from the latest Federal Reserve meeting suggested policymakers are worried about weak inflation.

Fed policymakers grow more worried about weak inflation

WASHINGTON (Reuters) – Federal Reserve policymakers appeared increasingly wary about recent weak inflation and some called for halting interest rate hikes until it was clear the trend was transitory, according to the minutes of the U.S. central bank’s last policy meeting.

Black banker sues Goldman Sachs for racial discrimination

(Reuters) – A black banker in Goldman Sachs Group Inc’s personal wealth management unit filed a lawsuit on Wednesday accusing the firm of steering top clients to her white colleagues and denying her promotions because of her race.

Carmakers win brief reprieve from lawsuits over faulty Takata air bags

(Reuters) – Automakers on Wednesday won a temporary reprieve from lawsuits filed by victims of defective air bags made by bankrupt Takata Corp that led to the largest-ever auto safety recall and at least 18 deaths.

GM’s Maven may compete with Lyft and Uber in ride services

(Reuters) – General Motors Co’s Maven car sharing and rental unit could wind up competing with two of its biggest customers, Uber Technologies and Lyft Inc, with an ambitious expansion plan that could take it eventually into ride and delivery services.

Ackman says owned stake in Hilton, a previously unnamed bet

BOSTON (Reuters) – Investor William Ackman said on Wednesday his hedge fund had bought and sold a stake in Hilton Worldwide Holdings, identifying the portfolio company that recently earned him a double digit return.

Ireland says EU demand that Apple pay it 13 billion euros in back taxes unjustified

BERLIN (Reuters) – Ireland’s finance minister said the European Commission’s demand that Dublin collect up to 13 billion euros ($13.8 bln) in back taxes from Apple was unjustified, in an interview with Germany’s Frankfurter Allgemeine (FAZ) newspaper.

Sale of Air Berlin slots offers rare German entry ticket

BERLIN/FRANKFURT (Reuters) – Air Berlin’s administrators will focus on selling its attractive take-off and landing slots in Germany, a source familiar with the process said, potentially opening up the market to new players.

Chinese automakers kick tires at FCA, but any deal faces obstacles

HONG KONG (Reuters) – Geely Automobile Holdings Ltd said on Wednesday it was not planning a bid for Fiat Chrysler Automobiles NV , and while other potential Chinese suitors remain any tie-up could face significant U.S. regulatory obstacles.

Walnut whipped out as Nestle introduces nut-free fondants

LONDON (Reuters) – Nestle risked an outbreak of consumer mockery on Wednesday by launching new versions of its popular Walnut Whip candies lacking the nutty ingredient after which they are named.

Reckitt bets on ‘smart’ products to renew innovation mojo

SLOUGH, England (Reuters) – Reckitt Benckiser is betting on connected consumer products as part of a push to show investors its innovative approach can still drive growth.

Maersk upbeat on shipping outlook, faces hefty cyber attack bill

COPENHAGEN (Reuters) – Denmark’s A.P. Moller Maersk gave an upbeat outlook for container shipping on Wednesday, lifting its shares by as much as 4.5 percent as investors looked beyond one-off second-quarter charges and a costly cyber attack on its operations.

UnitedHealth names Wichmann CEO, Helmsley executive chairman

NEW YORK (Reuters) – UnitedHealth Group Inc said on Wednesday president David Wichmann will become the company’s chief executive, succeeding Stephen Hemsley, who is moving to the newly created role of executive chairman after more than a decade at the helm of the largest U.S. health insurer.

Trump, in tweet, hits Amazon over taxes, jobs

WASHINGTON (Reuters) – U.S. President Donald Trump on Wednesday criticized Amazon.com on Twitter over taxes and jobs and accused the global retailer, without offering evidence, of hurting U.S. localities and causing job losses.

Target second-quarter profit, sales beat view as customer traffic rises

(Reuters) – Target Corp on Wednesday reported higher-than-expected quarterly profit and comparable-store sales after four straight quarters of declines as more customers visited its stores and website.

Dollar holds firm before Fed minutes, stocks rise

LONDON (Reuters) – The dollar held on to big gains on Wednesday before minutes of the U.S. Federal Reserve’s latest meeting, while European shares followed Asian stocks higher.

Uber sorry for Philippines ‘misunderstanding’, but suspension stands

MANILA (Reuters) – The Philippine transport regulator stood by its one-month suspension of Uber Technologies Inc [UBER.UL] on Wednesday, despite its apology for a “misunderstanding” in failing to heed a directive to stop accepting new driver applications.

Hedge fund Elliott ups stakes at BHP by crossing threshold

MELBOURNE/LONDON (Reuters) – Hedge fund Elliott Management has upped the stakes at BHP , gaining powers to push for change by raising its holding in the miner’s London-listed arm to 5 percent.

Fiat Chrysler joins BMW-Intel self-driving car alliance

SAN FRANCISCO/FRANKFURT (Reuters) – Fiat Chrysler will join an alliance led by BMW to develop self-driving cars, intensifying a race by carmakers and technology companies to develop “robotaxis” which can be called up via smartphone and paid for by the minute.

Exclusive: China’s Belt and Road acquisitions surge despite outbound capital crackdown

HONG KONG (Reuters) – Mergers and acquisitions by Chinese companies in countries that are part of the Belt and Road initiative are soaring, even as Beijing cracks down on China’s acquisitive conglomerates to restrict capital outflows.

Wells Fargo changes board, names Duke chair in response to scandal

(Reuters) – Wells Fargo & Co Vice Chair Betsy Duke will replace retiring Chair Stephen Sanger next year, one of several changes announced on Tuesday in a board overhaul following a sales practices scandal.

Bombardier applies for judicial review against Metrolinx

(Reuters) – Bombardier Inc , which was excluded from bidding on a contract by Ontario-based transportation agency Metrolinx, said on Tuesday it had filed an application for judicial review.

AIG shops $2 billion death benefits portfolio: sources

(Reuters) – American International Group Inc wants to sell a $2 billion portfolio of life settlements that would pay out when sick or elderly customers die, two people familiar with the matter said.

NAFTA negotiators aim for ‘ambitious’ start to talks: U.S. official

WASHINGTON (Reuters) – Negotiators from Canada, Mexico and the United States are aiming for an “ambitious” first round of trade talks, a senior U.S. official said on Tuesday, as the countries try to fast-track a deal to modernize the 23-year-old pact by early next year.

Fractured U.S. solar sector argues at tariff hearing

(Reuters) – A bitterly divided U.S. solar power industry descended on Washington on Tuesday to testify before a government panel that has been asked to impose steep tariffs on imported solar panels.

FTC asks Clariant, Huntsman for more information on planned merger

(Reuters) – Swiss chemicals maker Clariant AG and U.S.-based Huntsman Corp said on Tuesday U.S. regulators had asked for more information on their proposed merger, but they were confident of still closing the deal by the end of this year.

Wall Street ends flat; economic data offsets retailer results

(Reuters) – U.S. stocks ended little changed on Tuesday as declines in Home Depot and other retailers following results offset upbeat U.S. retail sales data.

Tech companies ramp up NAFTA lobbying on eve of trade talks

WASHINGTON (Reuters) – Technology companies, such as Microsoft and Cisco Systems have ramped up lobbying ahead of talks to renegotiate the North American Free Trade Agreement, looking to avoid any future restrictions on cloud storage and to promote an international pact to eliminate technology goods tariffs.

Americans’ debt level notches a new record high

NEW YORK (Reuters) – Americans’ debt level notched another record high in the second quarter, after having earlier in the year surpassed its pre-crisis peak, on the back of modest rises in mortgage, auto and credit card debt, where delinquencies jumped.

Three CEOs resign from Trump council over Charlottesville

(Reuters) – The chief executives of Intel Corp, Merck & Co Inc and Under Armour Inc resigned from U.S. President Donald Trump’s American Manufacturing Council on Monday, following Trump’s initially tepid response to weekend violence at a rally of white supremacists in Charlottesville, Virginia.

Blackstone ends talks for NSO Group stake that prompted protest: sources

(Reuters) – Blackstone Group has pulled out of discussions to buy part of Israeli mobile surveillance software maker NSO Group, according to people familiar with the talks that had been criticized by digital privacy activists.

Apple plans to sell C$2.5 billion in bonds in Canada: IFR

TORONTO (Reuters) – Apple Inc plans to sell C$2.5 billion ($1.96 billion) in bonds in a Canadian-dollar-denominated issue, which would be a record amount for an issuer in the Maple bond market, Thomson Reuters IFR reported on Tuesday.

Uber settles U.S. allegations over data privacy

WASHINGTON/SAN FRANCISCO (Reuters) – Uber Technologies Inc [UBER.UL] has agreed to two decades of audits after U.S. regulators found the ride-services company failed to protect the personal information of drivers and passengers and deceived the public about efforts to prevent snooping by its employees.

Air Berlin files for insolvency after Etihad withdraws support

BERLIN (Reuters) – Air Berlin , Germany’s second-largest airline, filed for bankruptcy protection on Tuesday after key shareholder Etihad Airways withdrew funding following years of losses, leaving valuable runway slots up for grabs.

Strong U.S. retail sales bolster third quarter growth outlook

WASHINGTON (Reuters) – U.S. retail sales recorded their biggest increase in seven months in July as consumers boosted purchases of motor vehicles and raised discretionary spending, suggesting the economy continued to gain momentum early in the third quarter.

Brazil’s JBS maintains plans for IPO of U.S. unit

SAO PAULO (Reuters) – The world’s largest meatpacker JBS SA will press on with plans to list shares of its United States subsidiary next year, Chief Executive Officer Wesley Batista said during a conference call with analysts on Tuesday.

Amazon opens ‘Instant Pickup’ points in U.S. brick-and-mortar push

BERKELEY, Ca (Reuters) – Amazon.com Inc is rolling out pickup points in the United States where shoppers can retrieve items immediately after ordering them, shortening delivery times from hours to minutes, the company said on Tuesday.