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Portugal investigating fraud linked to Venezuela PDVSA funds, PDVSA says

CARACAS (Reuters) – Portugal is investigating alleged appropriation of funds belonging to Venezuelan state oil company PDVSA [PDVSA.UL] that were channeled through now-defunct Portuguese bank Banco Espirito Santo between 2009 and 2014, PDVSA said on Saturday.

Internal dossier criticises Audi top management: Bild

FRANKFURT (Reuters) – German luxury carmaker Audi’s management board, including Chief Executive Rupert Stadler, has been sharply criticised by company managers, Bild am Sonntag reported on Sunday, citing an internal dossier.

Even with Whole Foods, Amazon would need many more warehouses to reshape grocery delivery

(Reuters) – If Amazon.com Inc hopes to revolutionize grocery delivery, then its bid to buy Whole Foods Market Inc for $13.7 billion will be just the start of a long and costly process.

Italian government decree for Veneto banks delayed to Sunday: source

MILAN (Reuters) – An Italian government decree that will start liquidation proceedings for two ailing Veneto-based lenders, Banca Popolare di Vicenza and Veneto Banca, is set to be delayed to Sunday, a government source said.

CEO of Raytheon’s Forcepoint eyes IPO: Boersen-Zeitung

FRANKFURT (Reuters) – U.S. missile maker Raytheon’s cybersecurity unit could thrive were it to be listed separately, the head of the unit, Forcepoint, told German business daily Boersenzeitung in an interview published on Saturday.

India’s Infosys says reassessing long-term goals due to tougher market

Bengaluru (Reuters) – Infosys Ltd, India’s second-biggest software services exporter, is re-evaluating its long-term targets because tougher market conditions have made them appear “daunting”, the company’s chairman said on Saturday.

Oil’s drop could leave a stain on earnings

NEW YORK (Reuters) – Heading into second-quarter earnings season, investors are looking for a continuation of strong U.S. company results to justify high stock valuations, now trading near their loftiest levels since 2004.

SeaWorld subpoenaed on disclosures about ‘Blackfish’ impact, trading

(Reuters) – SeaWorld Entertainment Inc said on Friday it received a subpoena from the U.S. Department of Justice in connection with an investigation over disclosures made about the impact of the “Blackfish” documentary and trading in the company’s securities.

Anthem to pay record $115 million to settle U.S. lawsuits over data breach

(Reuters) – Anthem Inc , the largest U.S. health insurance company, has agreed to settle litigation over hacking in 2015 that compromised about 79 million people’s personal information for $115 million, which lawyers said would be the largest settlement ever for a data breach.

VW ex-manager should stay in Germany: lawyer in Bild

BERLIN (Reuters) – A lawyer for one of the former Volkswagen managers sought in the United States in connection with the carmaker’s diesel emissions-cheating scandal has advised him not to leave Germany, she told a German daily.

Exclusive: Wal-Mart not considering a bid for Whole Foods – source

(Reuters) – Wal-Mart Stores Inc is not actively considering making an offer for Whole Foods Market Inc, a source familiar with the matter told Reuters on Friday.

Italy to start winding down Veneto banks Saturday after EU green-light

MILAN/FRANKFURT (Reuters) – The European Commission on Friday gave preliminary approval for an Italian plan to wind down two ailing Veneto-based regional lenders with state money in a move that may allow Rome to solve its latest banking crisis on its own terms.

Tech, energy shares lift Wall Street

NEW YORK (Reuters) – Wall Street ended higher on Friday as gains in tech and energy stocks more than offset weakness in the financial sector, while a slide in Home Depot kept the Dow in check.

Honda engineer debunks own claim about cause of Takata air bag failures

DETROIT (Reuters) – Honda Motor Co on Friday released a 2013 email in which one of its engineers suggested that he knew some hidden truth about “the root cause” of Takata Corp air bag failures, but the engineer later said he was mistaken.

Exclusive: Eddie Bauer to explore options including sale – sources

(Reuters) – Debt-laden U.S. outerwear and outdoor gear retailer Eddie Bauer LLC has hired investment banks to explore strategic alternatives, including a potential sale of the company, people familiar with the matter said on Friday.

DBRS downgrades Cenovus after ConocoPhillips deal

CALGARY, Alberta (Reuters) – Ratings agency DBRS on Friday downgraded Cenovus Energy Inc, saying the Canadian oil company’s acquisition of ConocoPhillips assets in March negatively affects its credit and more than outweighs the benefits of the deal.

Oil creeps up from 10-month low, down nearly 4 percent on week

NEW YORK (Reuters) – Oil futures edged higher on Friday with a lift from a weaker dollar, but finished a fifth straight week lower as OPEC-led production cuts have failed to substantially reduce a global crude glut.

GM settles hundreds of ignition switch lawsuits

NEW YORK (Reuters) – General Motors Co has agreed to settle federal lawsuits by as many as 203 plaintiffs over defective ignition switches in its vehicles, a Friday court filing shows.

Exclusive: Investment funds offered to invest in Italy’s Veneto banks three weeks ago – sources

LONDON (Reuters) – A group of four international investment funds offered to inject 1.6 billion euros ($1.79 billion) of fresh capital into two ailing Italian banks in Veneto at the end of May, sources told Reuters, but their plan was not pursued by Rome.

Russia’s fighter jet makers ‘not afraid’ of U.S. competition in India

PARIS (Reuters) – Russian military aviation firm MiG said on Friday it was ready to deepen its cooperation with India, just days after U.S. arms maker Lockheed Martin Corp agreed with Tata Advanced Systems to build F-16 fighters there.

Official urges limited Fed role in addressing U.S. inequality

CLEVELAND (Reuters) – The Federal Reserve cannot directly address the problems of inequality, globalization and the challenges facing lower-income Americans, a Fed official said on Friday, though it can help identify solutions for legislators to take up.

Are you being served? Planemakers alter sales pitch to boost profit

PARIS (Reuters) – Airbus and Boeing leave this week’s Paris Airshow with plans for ambitious growth in aviation services, as flattening demand for new jets and pressure to raise profit margins encourages planemakers to deepen their exposure to airline operations.

Goldman Sachs global head of equity capital markets to retire: Bloomberg

(Reuters) – Goldman Sachs Group Inc’s global head of equity capital markets, Stephen Pierce, is retiring from the role after 31 years at the firm, Bloomberg reported on Friday.

Ford’s China move casts new cloud on Mexican carmaking

MEXICO CITY (Reuters) – A second U-turn this year by Ford Motor Co in Mexico has raised the specter of Chinese competition for local carmaking, adding to pressure on the industry after repeated threats by U.S. President Donald Trump to saddle it with punitive tariffs.

U.S. new home sales jump, median price surges to record high

WASHINGTON (Reuters) – New U.S. single-family home sales rose in May and the median sales price surged to an all-time high, suggesting the housing market had regained momentum.

Europe faces Herculean challenge to develop new fighter jet

PARIS (Reuters) – Europe is embarking on an expensive and politically charged effort to develop a new combat jet that will shape the future of the European fighter industry and its three existing programs – Eurofighter, France’s Rafale and Sweden’s Gripen.

Policy ponder: central banks head for the Portuguese hills

LONDON (Reuters) – The cool shade of the hills above Lisbon will offer leading central bankers an escape from the summer heat in the coming week, but there is little they can do to get away from their differing monetary policy conundrums.

EU promises tough line on U.S., China while pushing for free trade

BRUSSELS (Reuters) – German Chancellor Angela Merkel warned U.S. President Donald Trump on Friday that Europe would react in kind if the United States did not play fair in trade, while EU leaders also agreed to consider screening investments by state-owned Chinese firms.

VW is cutting jobs at core brand more quickly than planned: HR boss

WOLFSBURG, Germany (Reuters) – Volkswagen is reducing the workforce at its core division more rapidly than planned, its human resources chief said, helping the brand make headway on cost-cuts needed to revive the business.

Canada’s CIBC completes $5 billion PrivateBancorp buy

TORONTO (Reuters) – Canadian Imperial Bank of Commerce has completed the $5 billion acquisition of Chicago-based PrivateBancorp , which will help it diversify from its domestic market, it said on Friday.

Toshiba willing to talk with spurned Western Digital about chip unit sale

TOKYO (Reuters) – Toshiba Corp said it was open to talks with Western Digital Corp in their dispute over the sale of the Japanese conglomerate’s prized chip unit – an apparent olive branch after it chose another suitor as preferred bidder.

Accenture unloads $1.6 billion in pension liabilities to AIG, MassMutual

(Reuters) – Consulting and outsourcing services provider Accenture Plc said on Friday it would transfer $1.6 billion in pension obligations to insurers American International Group Inc and MassMutual.

China’s ICBC says checks of loans to big acquirers are routine

BEIJING (Reuters) – Industrial and Commercial Bank of China (ICBC) said on Friday its checks of loans to companies that made overseas acquisitions is routine, following reports that the regulator had ordered lenders to assess credit extended to a handful of highly acquisitive firms.

Ford recalls 15,600 cars in South Africa over fire risk

JOHANNESBURG (Reuters) – Ford Motor Co is recalling nearly 16,000 Ikon and Figo models in South Africa due to a potential fire risk, it said on Friday.

Tentative oil price recovery lifts energy stocks

LONDON (Reuters) – World stocks were poised to eke out slim gains for the week on Friday as a tentative recovery in oil prices spurred investors to hunt for bargains in the beaten-down energy sector and helped commodity-related currencies gain against the dollar.

VW waives appeal against German dieselgate compensation cases

BERLIN (Reuters) – German carmaker Volkswagen has agreed to buy back diesel cars equipped with illicit emissions control software after deciding not to appeal a German court ruling backing plaintiffs’ calls for compensation.

Elbit Systems says innovation key to crowded drone market

PARIS (Reuters) – Israeli defense electronics company Elbit Systems Ltd , is moving quickly to innovate and maintain its edge in a global market in which it faces increasing competition from China, France, Turkey and others.

Shares in Canada’s Home Capital surge as Buffett rides to rescue

TORONTO (Reuters) – Warren Buffett’s Berkshire Hathaway Inc is providing a C$2 billion loan to Home Capital Group Inc and taking a 38 percent stake in the mortgage lender, a move which is pressuring short sellers who targeted the stock as Canada’s housing market has turned riskier.

Biggest U.S. banks clear first hurdle in Fed’s annual stress tests

WASHINGTON/NEW YORK (Reuters) – The 34 largest U.S. banks have all cleared the first stage of an annual stress test, showing they would be able to maintain enough capital in an extreme recession to meet regulatory requirements, the Federal Reserve said on Thursday.

American Airlines pushes back on Qatar Airways plan to buy stake

(Reuters) – American Airlines’ chief executive said on Thursday he is not “particularly excited” about Qatar Airways’ interest in buying up to 10 percent of the U.S. carrier’s shares, in a letter to employees following the state-owned Gulf airline’s overture.

Exclusive: Amazon to charge $2.8 million for NFL ad packages – sources

NEW YORK (Reuters) – Amazon.com Inc is looking to charge advertisers $2.8 million for packages that include 30-second spots during the Thursday night National Football League games it will stream live to its Prime customers this coming season, two people familiar with the matter told Reuters.

Parent of Burger King, Tim Hortons to curb antibiotics in chicken

LOS ANGELES (Reuters) – The parent of Burger King and Tim Hortons on Thursday vowed to cut the use of antibiotics in its chicken supply, joining other major fast-food chain operators in the battle against the rise of dangerous antibiotic-resistant bacteria known as superbugs.

Healthcare stocks jump after Republicans unveil plan; banks, staples slip

(Reuters) – The S&P healthcare index rose 1 percent on Thursday, hitting its fifth consecutive record close following the release of Senate Republicans’ bill to replace Obamacare, while financial and consumer staple shares ended lower.

Critics say Whole Foods deal would give Amazon an unfair advantage

WASHINGTON (Reuters) – While antitrust experts expect Amazon.com Inc’s bid for Whole Foods Market Inc to win regulatory approval, some critics argue the deal should be blocked because it gives the online retailer a nearly unstoppable head start toward domination of online grocery delivery.

Airbus’ Leahy reveals negotiating tricks after ‘last air show’

PARIS (Reuters) – Airbus sales chief John Leahy, one of the dominant figures of modern aviation, hinted on Thursday he would retire this autumn, as he wrapped up what he said would be his last air show by revealing a few precious negotiating tricks.