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Exclusive: China’s Huawei in talks to sell premium smartphone brands P and Mate – sources

(Reuters) – China’s Huawei Technologies Co Ltd is in early-stage talks to sell its premium smartphone brands P and Mate, two people with direct knowledge of the matter said, a move that could see the company eventually exit from the high-end smartphone-making business. The talks between the world’s largest telecommunications equipment maker and a consortium...

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U.S. oil refiners set for worst earnings quarter of the pandemic

NEW YORK (Reuters) – U.S. refiners are girding for a painful slate of fourth-quarter earnings, reflecting the pressure of rising crude prices, weak demand due to renewed COVID-19 travel restrictions, and higher costs of associated with blending of renewable fuels into their products. FILE PHOTO: General view of the Marathon petroleum refinery in Carson, California,...

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Google workers to form global union alliance

FILE PHOTO: A sign is pictured outs a Google offcie near the company’s headquarters in Mountain View, California, U.S., May 8, 2019. REUTERS/Paresh Dave/File Photo/File Photo (Reuters) – Google employees from across the globe are forming a union alliance, weeks after more than 200 workers at the search engine giant and other units of parent...

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BP’s oil exploration team swept aside in climate revolution

LONDON (Reuters) – Nothing escapes the winds of change now sweeping through BP, not even the exploration team that for more than a century powered its profits by discovering billions of barrels of oil. Its geologists, engineers and scientists have been cut to less than 100 from a peak of more than 700 a few...

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U.S. corporate buybacks are on the rise, lifting investor hopes

By Caroline Valetkevitch, Stephen Culp NEW YORK (Reuters) – U.S. corporate share buyback levels are slowly increasing after last year’s pandemic-driven drop-off in spending, and investors are eager to see how much buybacks may support market gains. FILE PHOTO: Traders wearing masks work, on the first day of in-person trading since the closure during the...

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Oil prices edge up, but impact of lockdowns restrain gains

SINGAPORE (Reuters) – Oil prices edged up on Monday as a weaker dollar offset fresh concerns about the hit to global fuel demand from renewed lockdowns to curb the spike in COVID-19 infections. FILE PHOTO: A crude oil tanker is seen at Qingdao Port, Shandong province, China, April 21, 2019. REUTERS/Jason Lee Brent crude futures...

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Deutsche Bank starts probe in relation to engagement with some clients

FILE PHOTO: The headquarters of Germany’s Deutsche Bank are pictured in Frankfurt, Germany, September 21, 2020. REUTERS/Ralph Orlowski/File Photo (Reuters) – Deutsche Bank AG said on Sunday it began a probe in relation to engagement with some clients after the Financial Times reported earlier that the German lender was investigating the alleged mis-selling of investment...

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Exclusive: Taiwan ministry says TSMC will prioritise auto chips if possible

TAIPEI (Reuters) – Taiwan Semiconductor Manufacturing Co Ltd (TSMC) will prioritise production of auto chips if it is able to further increase capacity, Taiwan’s Economics Ministry told Reuters, amid a global shortage that has hampered car production. FILE PHOTO: The logo of Taiwan Semiconductor Manufacturing Co (TSMC) is pictured at its headquarters, in Hsinchu, Taiwan,...

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Davos ski resort eerily quiet without economic talkfest this year

DAVOS (Reuters) – Student protesters who urged world leaders at the 2020 World Economic Forum in Davos to “Stop (f)lying to us” must be pleased this year, at least as far as the flying is concerned. The streets of the little Alpine town that welcomed around 3,000 business chiefs, political thinkers and state leaders for...

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Yellen nomination sails through Senate panel; final vote set for Monday

By David Lawder, Andrea Shalal WASHINGTON (Reuters) – The U.S. Senate Finance Committee on Friday unanimously approved Janet Yellen’s nomination as the first woman Treasury secretary, indicating that she will easily win full Senate approval, but Republicans called for her to work with them in developing economic policies. The full Senate will vote on Yellen’s...

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Asian shares under pressure on rising coronavirus cases

SYDNEY (Reuters) – Asian shares were on the defensive on Monday as rising COVID-19 cases and doubts over the ability of vaccine makers to supply the promised doses on time soured risk appetite. FILE PHOTO: A man wearing a facial mask, following the coronavirus disease (COVID-19) outbreak, runs past an electric board showing Nikkei index...

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Big Oil hits brakes on search for new fossil fuels

LONDON (Reuters) – Top oil and gas companies sharply slowed their search for new fossil fuel resources last year, data shows, as lower energy prices due to the coronavirus crisis triggered spending cuts. FILE PHOTO: The sun sets behind an oil pump outside Saint-Fiacre, near Paris, France September 17, 2019. REUTERS/Christian Hartmann/File Photo Acquisitions of...

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Germany urges Taiwan to help ease auto chip shortage

BERLIN/TAIPEI (Reuters) – Germany has asked Taiwan to persuade Taiwanese manufacturers to help ease a shortage of semiconductor chips in the auto sector which is hampering its fledgling economic recovery from the COVID-19 pandemic. FILE PHOTO: A car body is moved in a production line at the Volkswagen plant in Wolfsburg, Germany March 1, 2019....

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Bridgewater’s Dalio sees U.S. divided, in ‘terrible financial state’

FILE PHOTO: Ray Dalio, founder, co-chief investment officer and co-chairman of Bridgewater Associates, speaks at the 2017 Forbes Under 30 Summit in Boston, Massachusetts, U.S. October 2, 2017. REUTERS/Brian Snyder/File Photo (Reuters) – Bridgewater Associates founder Ray Dalio wrote on Twitter on Sunday that the United States is still in a “terrible financial state” and...

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Toshiba regains Tokyo exchange’s top category amid calls for better governance

FILE PHOTO: The logo of Toshiba is seen as a shareholder arrives at Toshiba’s extraordinary shareholders meeting in Chiba, Japan March 30, 2017. REUTERS/Toru Hanai TOKYO (Reuters) – The Tokyo Stock Exchange approved on Friday Toshiba Corp’s return to the bourse’s first section amid calls from some shareholders for better governance at the Japanese industrial...

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Biden, citing ‘economic imperative,’ orders faster relief checks, more food aid

By Nandita Bose, Doina Chiacu WASHINGTON (Reuters) – U.S. President Joe Biden on Friday ordered the faster issuance of pandemic stimulus checks to needy families and increased food aid for children who normally rely on school meals, an effort to ease Americans’ burdens while Congress negotiates over his proposed $1.9 trillion economic stimulus package. In...