Business

SAN FRANCISCO (Reuters) – Netflix’s (NFLX.O) stock market value ballooned to a record $153 billion on Thursday and eclipsed Walt Disney Co (DIS.N) for the first time, making it the world’s top entertainment company and underscoring a monumental shift by viewers away from cinemas and cable television. The Netflix logo is shown above their booth
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FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) is cutting more than 7,000 jobs to reduce costs and restore profitability while maintaining its international reach as its new chief executive seeks to reassure investors and clients. Christian Sewing, new CEO of Germany’s Deutsche Bank, addresses the audience during the bank’s annual meeting in Frankfurt, Germany, May 24,
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FRANKFURT/DUESSELDORF, Germany (Reuters) – Heinrich Hiesinger’s position as Thyssenkrupp’s CEO is more precarious than it has ever been as he prepares to unveil a new strategy to placate impatient investors, including Cevian and Elliott, people familiar with the matter said. FILE PHOTO: ThyssenKrupp CEO Heinrich Hiesinger addresses the company’s annual shareholders meeting in Bochum, Germany,
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PARIS (Reuters) – Workers at France’s state-owned SNCF rail company on Wednesday resoundingly rejected President Emmanuel Macron’s planned overhaul of the railways in an internal ballot organized by labor unions. FILE PHOTO: French state-owned SNCF railway company employees and labour union members demonstrate as part of a nationwide strike in Paris, France, May 14, 2018.
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WASHINGTON (Reuters) – Congress on Tuesday rolled back some of the restraints imposed on banks after the 2007-2009 global financial crisis, but big players like Goldman Sachs Group Inc (GS.N), Morgan Stanley (MS.N) and JPMorgan Chase & Co (JPM.N), will not be breaking out the champagne. While Wall Street banks lobbied hard for a range
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(Reuters) – U.S. consumer bible Consumer Reports stopped short of recommending Tesla Inc’s (TSLA.O) Model 3 sedan on Monday, criticising the car for its braking and taking the shine off a day of gains for shares in billionaire Elon Musk’s venture. The Tesla Model 3 is displayed during a media preview of the Auto China
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BEIJING (Reuters) – China on Monday praised a significant dialing back of trade tension with the United States, with the government saying agreement was in the interests of both countries while state media trumpeted what it saw as China’s refusal to surrender. FILE PHOTO: Containers are seen at the Yangshan Deep Water Port in Shanghai,
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WASHINGTON (Reuters) – The U.S. trade war with China is “on hold” after the world’s largest economies agreed to drop their tariff threats while they work on a wider trade agreement, U.S. Treasury Secretary Steven Mnuchin said on Sunday. Mnuchin and U.S. President Donald Trump’s top economic adviser, Larry Kudlow, said the agreement reached by
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