SEOUL (Reuters) - Executives at South Korea's Hyundai Motor Group plan to take a voluntary 10 percent cut in wages from this month, the first such move since 2009, Yonhap News Agency reported on Tuesday, citing an unidentified high-ranking group official.
By Henning Gloystein SINGAPORE (Reuters) - Oil prices dipped early on Tuesday over disagreement within producer cartel OPEC on who should cut how much production in a planned coordinated reduction to prop up prices. International Brent crude oil futures were trading at $51.38 per barrel at 0117 GMT, down 8 cents from their last close. U.S. West Texas Intermediate (WTI) crude futures were down 5 cents at $50.47 a barrel. ...
Japan's Nikkei rose 0.8 percent to its highest since late April as a softening yen burnished the outlook for the country's exporters. Markets elsewhere were more mixed, leaving MSCI's broadest index of Asia-Pacific shares outside Japan flat.
(Reuters) - Twitter Inc may cut 8 percent of its workforce or about 300 people, Bloomberg reported on Monday, citing people it said were familiar with the matter. The job cuts could be announced before the company reports third-quarter earnings on Thursday, and the number of jobs affected could change, Bloomberg said. Last year, Twitter announced plans to lay off up to 336 employees, or about 8 percent of its workforce, a week after Jack Dorsey, its co-founder who had been serving as interim chief executive, took over as permanent CEO.
The average monthly premium for the benchmark plan is rising to $302 from $242 in 2016, the Department of Health and Human Services said. The agency attributed the large increase to insurers adjusting their premiums to reflect two years of cost data that became available. The government provides income-based subsidies to about 85 percent of people enrolled, and those credits will increase with the higher premiums.
SYDNEY (Reuters) - Asian shares edged higher on Tuesday while the dollar stood firm as upbeat U.S. earnings boosted Wall Street and factory surveys in the United States and Europe boasted their best readings so far this year.
By Ethan Lou NEW YORK (Reuters) - Oil prices dipped on Monday, with U.S. crude briefly falling below $50 per barrel, on news of the impending restart of Britain's Buzzard oilfield and Iraq's wish to be exempted from OPEC production cuts. Iraq's oil minister Jabar Ali al-Luaibi said the second-largest producer in the Organization of the Petroleum Exporting Countries (OPEC) wanted to be exempt from output curbs as it needed more money to fight Islamic State militants. OPEC hopes to remove about 700,000 bpd from an estimated global supply of 1.0-1.5 million bpd.
Automakers should make shielding the electronic and computer systems of vehicles from hackers a priority, developing layers of protection that can secure a vehicle throughout its life, U.S. regulators said on Monday. The cyber security guidelines issued by the U.S. National Highway Traffic Safety Administration are recommendations, not enforceable rules. Some of the agency's proposals, included in a paper titled "Cybersecurity Best Practices for Modern Vehicles," echo moves major manufacturers are making already, including establishing a group to share information about cyber security threats.
(Reuters) - Visa Inc , the world's largest payments network operator, reported better-than-expected quarterly profit and revenue, boosted by the inclusion of Visa Europe's results and as customers spent more using its network. The company said total payments volume increased 47.1 percent to $1.86 trillion on a constant dollar basis in the fourth quarter ended Sept. 30, from a year earlier. "We have begun to see the benefits from our acquisition of Visa Europe and strong cost discipline helped our results," Chief Executive Charles Scharf said in a statement.
Wall Street signaled skepticism on Monday that AT&T Inc would secure the government approvals needed to carry out its planned $85.4 billion acquisition of Time Warner Inc, with shares of both companies falling as analysts scrutinized the deal. Time Warner shares were trading some 20 percent below the implied value of AT&T's $107.50 per share cash and stock offer, indicating investors doubt that the companies would be able to complete the transaction. The deal, announced on Saturday, would give AT&T control of cable TV channels HBO and CNN, film studio Warner Bros and other coveted assets and reshape the media landscape.
Deutsche Bank, Germany's largest lender, has been engulfed in crisis since the DoJ demanded up to $14 billion to settle claims that the bank missold U.S. mortgage-backed securities before the global financial crisis. A DoJ spokeswoman declined to comment.
(Reuters) - Department store operator Nordstrom Inc said it would hire about 11,400 temporary employees for the holiday shopping season, about 3 percent fewer than last year. The company said about 9,500 temporary employees will be hired in sales and stock positions at its 123 Nordstrom stores in the United States and Canada and 213 Nordstrom Rack stores in the United States. Another 1,900 will be hired to support Nordstrom's stores and ecommerce business through its fulfillment and distribution centers, the company said.
A lawyer for financier Lynn Tilton on Monday blasted U.S. Securities and Exchange Commission charges that she defrauded investors in three debt funds as "ludicrous," as the agency sought to bar her from the financial industry. At the start of a trial in Manhattan, Randy Mastro, Tilton's lawyer, told an administrative law judge that the founder of New York-based Patriarch Partners did not defraud investors, who were instead well aware of her investment strategy.
NEW YORK - (Reuters) - The S&P 500 hit a two-week high on Monday on the back of strong earnings, while a flurry of acquisitions indicated corporate America continues to see untapped value in the market.