Reuters: Business News
|California wildfire victims sue utility PG&E alleging negligence
Victims of California's deadliest wildfire have filed a lawsuit against PG&E Corp alleging negligence and health and safety code violations by the utility company in the blaze that has killed at least 48 people.
POSTED NOVEMBER 14, 2018 7:34 PM
|PG&E shares and bonds plunge as California wildfire risks mount
PG&E Corp, the electricity provider in the northern California region ravaged by a deadly wildfire, warned that it could face "significant liability" in excess of its insurance coverage if its equipment caused the blaze, sending its shares and bonds sharply lower.
POSTED NOVEMBER 14, 2018 7:34 PM
|Several high-profile funds raised stakes in GE before selloff: filings
Several prominent investors raised their stakes in General Electric Co in the third quarter, before its shares sank in recent weeks, filings with the U.S. Securities and Exchange Commission showed on Wednesday.
POSTED NOVEMBER 14, 2018 7:28 PM
|General Electric pulls out of Nigeria rail concession
General Electric Co has pulled out of a long-term concession deal with the Nigerian government to maintain and operate narrow-gauge rail lines in the West African country, a procurement process adviser told Reuters on Wednesday.
POSTED NOVEMBER 14, 2018 7:06 PM
|Berkshire invests in JPMorgan, Oracle as Buffett puts cash to work
Warren Buffett's Berkshire Hathaway Inc deepened its commitment to the U.S. financial industry, announcing a $4.02 billion stake in JPMorgan Chase & Co and new investments in PNC Financial Services Group Inc and Travelers Companies Inc, plus a stake in Oracle Corp.
POSTED NOVEMBER 14, 2018 6:58 PM
|A matter of volume: threat from ascendant Chinese phones hangs over Apple
A raft of profit warnings from Apple Inc suppliers this week has fueled investor concerns that iPhone sales, in terms of volume, have hit a wall that could spell trouble for the company's plans to make services its main pillar of growth.
POSTED NOVEMBER 14, 2018 6:53 PM
|U.S. lawmaker says Facebook cannot be trusted to regulate itself
Democratic U.S. Representative David Cicilline, expected to become the next chairman of House Judiciary Committee's antitrust panel, said on Wednesday that Facebook cannot be trusted to regulate itself and Congress should take action.
POSTED NOVEMBER 14, 2018 6:43 PM
|Walmart's LatAm delivery app Cornershop eyeing Canada and U.S
Cornershop, a Latin American grocery delivery app being acquired by Walmart, plans to expand into Canada early next year as a test market for the United States, an executive for the three-year-old mobile app said.
POSTED NOVEMBER 14, 2018 6:28 PM
|Lockheed gets interim payment for first multiyear F-35 contract: Pentagon
Lockheed Martin Corp has won a preliminary contract valued at up to $22.7 billion to build a batch of 255 F-35 jets for the U.S. military and its allies, the U.S. Defense Department said on Wednesday.
POSTED NOVEMBER 14, 2018 5:52 PM
|S&P 500 falls for fifth day as financials drag
Wall Street stocks fell on Wednesday, with the S&P 500 notching a fifth straight day of losses as financial stocks were hit by fears that regulations on the banking industry would tighten once the Democratic Party takes control of the U.S. House of Representatives.
POSTED NOVEMBER 14, 2018 5:48 PM