Exclusive: Investors shun Italian bank Monte Paschi’s share offer

By Paola Arosio and Silvia Aloisi MILAN (Reuters) – Monte dei Paschi di Siena (BMPS.MI) has all but failed to pull off a last-ditch rescue plan and a state bailout for the ailing Italian bank now looks inevitable, sources said on Wednesday. Confirming an earlier Reuters report, the bank said late on Wednesday it had […]


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EU regulators delay ChemChina/Syngenta merger decision to April 12

BRUSSELS (Reuters) – European Union antitrust regulators have extended the deadline for a decision on ChemChina’s proposed buy of Swiss pesticides and seeds group Syngenta by 10 working days to April 12. Syngenta said in a statement the two companies had asked for the extension to allow “sufficient time for the discussion of remedy proposals”. […]


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Twitter’s China boss Kathy Chen quits after eight months

NEW YORK/BEIJING (Reuters) – Twitter Inc (TWTR.N) executive Kathy Chen, brought in to run Greater China just over eight months ago, has quit, according to a tweet sent by her over the weekend. Twitter has been blocked in China since 2009 but is still used through virtual private networks (VPN). Domestically, the Sina Weibo microblogging […]


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BlackRock’s U.S.-based active funds post record 2016 withdrawals: Morningstar

By Trevor Hunnicutt NEW YORK (Reuters) – Investors pulled $19.3 billion from BlackRock Inc’s (BLK.N) U.S.-based actively managed mutual funds in 2016, Morningstar Inc estimates showed on Tuesday, a record high as the investment industry struggles to restrain an exodus to lower-cost investments. The funds posted nearly $8.5 billion in outflows during the fourth quarter, […]


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Hershey names COO Michele Buck as chief executive

(Reuters) – U.S. chocolate maker Hershey Co (HSY.N) named Chief Operating Officer Michele Buck as its chief executive and president, pinning its hopes on a company veteran to build on a recovery in demand in North America. Buck, whose appointment is effective March 1, will succeed John Bilbrey, who said in October he would retire […]


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Intel to take stake in German mapping firm HERE in automated driving push

FRANKFURT (Reuters) – U.S. chip maker Intel (INTC.O) will take a 15 percent stake in German digital mapping firm HERE, it said on Tuesday, as it seeks to build its presence in automated driving technology. A filing to the German cartel office on Tuesday showed Intel has sought approval to buy a stake in the […]


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Japan exports up for first time in 15 months, US protectionism poses risks

By Tetsushi Kajimoto TOKYO (Reuters) – Japan’s exports rose for the first time in 15 months in December on strong sales of electronics and car parts, a positive sign for the export-reliant economy even as U.S. protectionism threatens to hurt trade across the region and dent external demand. Ministry of Finance data showed on Wednesday […]


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Japan exports up for first time in 15 months, U.S. protectionism poses risks

By Tetsushi Kajimoto TOKYO (Reuters) – Japan’s exports rose for the first time in 15 months in December on strong sales of electronics and car parts, a positive sign for the export-reliant economy even as U.S. protectionism threatens to hurt trade across the region and dent external demand. Ministry of Finance data showed on Wednesday […]


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Goldman Sachs to pay $120 million over attempted ISDAFIX benchmark manipulation

By Sarah N. Lynch WASHINGTON (Reuters) – Goldman Sachs Group Inc (GS.N) will pay a $120 million penalty to resolve civil charges that it attempted to manipulate a global benchmark for interest rate products known on Wall Street as “ISDAFIX,” U.S. derivatives regulators said Wednesday. The case against Goldman Sachs, brought by the Commodity Futures […]


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Toshiba shares slip ahead of chip business sale approval

TOKYO (Reuters) – Shares of Toshiba Corp 6502.T slipped in early trading on Wednesday as the company prepared to give the nod to spinning off its chip business. Its shares slumped 2.2 percent to 254 yen, even as the Nikkei stock index (.N225) rose 1.7 percent. Toshiba’s board will meet on Friday to approve plans […]


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