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Updated: 24 min 44 sec ago

Alibaba IPO ranks as world's biggest after additional shares sold

37 min 53 sec ago
HONG KONG (Reuters) - Alibaba Group Holding Ltd's initial public offering now ranks as the world's biggest in history at $25 billion, after the e-commerce giant and some of its shareholders sold additional shares.






Tesco cuts outlook after finding accounting error

1 hour 8 min ago
LONDON (Reuters) - Tesco has lowered its forecast for first-half profit by 250 million pounds ($408.50 million), its third warning this year, after finding a fault in its accounts, in the latest blow to the reputation of Britain's biggest grocer.

Asian shares slip, dollar pulls away from highs

1 hour 31 min ago
TOKYO (Reuters) - Asian shares skidded on Monday as investors awaited data this week that could provide more evidence of a slowdown in China, while the dollar gave back a little of its recent gains.






Siemens in agreed $7.6 billion deal to buy Dresser-Rand

Sun, 09/21/2014 - 23:15
FRANKFURT (Reuters) - Industrial conglomerate Siemens AG said on Monday it would buy U.S. oilfield equipment maker Dresser-Rand Group Inc for $7.6 billion in a move that would significantly boost the German company's oil and gas business in North America.






Alibaba issues additional shares to raise IPO total to $25 billion: report

Sun, 09/21/2014 - 21:38
The underwriters of Alibaba Group Holding Ltd BABA.N's IPO have issued additional shares, according to the Wall Street Journal, bringing the IPO's size to about $25 billion and making it the largest initial public offering in history.

Exclusive: Siemens near deal to buy Dresser-Rand - sources

Sun, 09/21/2014 - 20:33
NEW YORK/LONDON (Reuters) - Industrial conglomerate Siemens AG is near an agreement to acquire U.S. oilfield equipment maker Dresser-Rand Group Inc for all cash, according to people familiar with the matter, in a move that would significantly boost the German company's oil and gas business in North America.

Japan's SoftBank shares down over 2 percent after Alibaba listing

Sun, 09/21/2014 - 20:24
TOKYO (Reuters) - Shares of SoftBank Corp were down more than 2 percent in early trade on Monday following the listing on Friday of Alibaba Group Holding Ltd , in which the Japanese telecommunications company holds a 32 percent stake.

Bank of America shares to rise 50 percent in three years: Barron's

Sun, 09/21/2014 - 20:09
(Reuters) - Bank of America Corp , the second-largest U.S. bank by total assets, could see its shares climb 50 percent over the next three years, Barron's financial newspaper said on Sunday.






Exclusive: Siemens near deal to buy Dresser-Rand - sources

Sun, 09/21/2014 - 18:33
NEW YORK/LONDON (Reuters) - Industrial conglomerate Siemens AG is near an agreement to acquire U.S. oilfield equipment maker Dresser-Rand Group Inc for all cash, according to people familiar with the matter, in a move that would significantly boost the German company's oil and gas business in North America.

Volkswagen seeks higher margins with China-only luxury sedan: sources

Sun, 09/21/2014 - 17:22
SHANGHAI (Reuters) - Volkswagen AG will launch a VW-badged luxury sedan designed solely for China next year in its pursuit of higher margins, said two people with knowledge of the plan, in a move that could put it in direct competition with its premium brand Audi.






General Motors recalls cars over parking brake fire risk

Sun, 09/21/2014 - 12:05
WASHINGTON (Reuters) - U.S. car manufacturer General Motors Co is recalling hundreds of thousands of cars over a defect in the parking brake that could cause a fire, a letter by the top U.S. auto safety regulator showed.






Germany pushes Airbus for cost cuts on A400Ms: paper

Sun, 09/21/2014 - 08:39
BERLIN (Reuters) - Germany's defense ministry is demanding price cuts and longer cancellation periods on the A400M military airlifters it has ordered from Airbus, but which will be delivered later and less equipped than planned, a newspaper reported on Sunday.

Relief over Scotland gives way to 'Great Stagnation' worries

Sun, 09/21/2014 - 06:25
BRUSSELS (Reuters) - Scotland's rejection of independence and a lack of any fireworks at a Fed meeting last week have calmed investors enough to shift the focus back to what some call the "Great Stagnation", and how to avoid it.






SoftBank estimates $4.6 billion gain from Alibaba listing

Sun, 09/21/2014 - 04:54
TOKYO (Reuters) - Japan's SoftBank Corp said it expected a gain of about 500 billion yen ($4.6 billion) from Alibaba Group Holding's share listing in New York, where the Chinese e-commerce leader surged 38 percent on its first day of trade.

Microsoft delays launch of its Xbox One console in China

Sun, 09/21/2014 - 04:51
BEIJING (Reuters) - Microsoft Corp has delayed the launch of its Xbox One game console in China, which had been set for release on Tuesday, but the world's biggest software company said it would be released by the end of the year.






G20 says nearing growth goal, but more needed from Europe

Sun, 09/21/2014 - 03:19
CAIRNS Australia (Reuters) - The Group of 20 leading nations say they are tantalisingly close to adding an extra $2 trillion to the global economy and creating millions of new jobs, but Europe's extended stagnation remains a major stumbling block.

China says will not alter policy because of one economic indicator

Sun, 09/21/2014 - 01:15
BEIJING (Reuters) - China will not dramatically alter its economic policy because of any one economic indicator, Finance Minister Lou Jiwei said on Sunday, in remarks that came days after many economists lowered growth forecasts having seen the latest set of weak data.






Exclusive: Hyundai directors kept in dark on size of $10 billion land bid - sources

Sat, 09/20/2014 - 09:19
SEOUL (Reuters) - Hyundai Motor and two listed affiliates did not seek board clearance for the size of their record $10 billion bid for a plot of land in Seoul, more than triple its appraised value, four board members of the companies told Reuters.






German defense industry threatens to move production abroad

Sat, 09/20/2014 - 09:00
FRANKFURT (Reuters) - Germany's defense industry lobby has warned that companies were looking into shifting production abroad in response to the country's restrictive arms export policy.






Air France pilots extend strike until Sept. 26

Sat, 09/20/2014 - 08:56
PARIS (Reuters) - Air France pilots have voted to extend their week-long strike over cost cuts and plans for the company's Transavia unit by a further four days until Sept. 26, the head of the SNPL union said on Saturday.