Current Market News

Reuters: Business News

Chevron CEO Watson to step down, Wirth likely successor: source

Aug 22 2017
HOUSTON (Reuters) - Chevron Corp Chief Executive John Watson will step down by the end of next month and likely be replaced by Vice Chairman Mike Wirth, a source familiar with the matter told Reuters on Tuesday.

Massive California verdict expands J&J's talc battlefield

Aug 22 2017
NEW YORK (Reuters) - A massive California verdict in a lawsuit alleging Johnson & Johnson's talc-based products cause cancer has opened a new front in the litigation, upending the company's hopes that the cases were only gaining traction in Missouri, legal experts said.

Wall Street rallies on optimism about tax reform

Aug 22 2017
(Reuters) - U.S. stocks ended up on Tuesday, with each of the three major indexes posting their best one-day percentage gains in over a week, as lawmakers' comments on tax reform and the debt ceiling boosted investor optimism.

Google touts Titan security chip to market cloud services

Aug 22 2017
SAN FRANCISCO (Reuters) - Alphabet Inc’s Google this week will disclose technical details of its new Titan computer chip, an elaborate security feature for its cloud computing network that the company hopes will enable it to steal a march on Amazon.com Inc and Microsoft Corp .

As tax debate heats up, Republicans tweak business interest plan

Aug 22 2017
WASHINGTON (Reuters) - Congressional Republicans, seeking to address the complaints of small businesses, are floating changes to their controversial proposal to eliminate business tax deductions for debt interest payments, business lobbyists said on Tuesday.

U.S. targets Chinese, Russia entities for helping North Korea

Aug 22 2017
WASHINGTON (Reuters) - The United States on Tuesday imposed new North Korea-related sanctions, targeting Chinese and Russian firms and individuals for supporting Pyongyang's weapons programs, but stopped short of an anticipated focus on Chinese banks.

Twice-convicted ex-Jefferies trader faces prison after losing bail request

Aug 22 2017
NEW YORK (Reuters) - A federal appeals court on Tuesday rejected former Jefferies Group mortgage bond trader Jesse Litvak's request to stay out of prison while he appeals his second conviction and two-year sentence for defrauding customers on bond prices.

Blackstone explores IPO of Gates Global: sources

Aug 22 2017
(Reuters) - Private equity firm Blackstone Group LP is exploring an initial public offering (IPO) of Gates Global LLC, three years after it acquired the U.S. auto parts and building products maker for $5.4 billion, people familiar with the matter said on Tuesday.