China’s bitcoin market alive and well as traders defy crackdown

Brenda Goh SHANGHAI (Reuters) – Weeks after Beijing banned fundraising through token launches and ordered some bitcoin exchanges to shut, casting a chill over the cryptocurrency industry, traders say that the market is far from dead. While several exchanges have announced that they will close by the end of this month, traders have now moved Read more about China’s bitcoin market alive and well as traders defy crackdown[…]

Dollar set for best weekly gain in 2017; euro struggles

Saikat Chatterjee LONDON (Reuters) – The dollar is on track to post its best weekly performance so far this year as a bounce in U.S. Treasury yields fuelled by the Trump administration’s tax plan triggered a shake out in multi-year short bets against the greenback. While market watchers remain sceptical about the dollar’s long-term outlook, Read more about Dollar set for best weekly gain in 2017; euro struggles[…]

Bayer sells further stake in Covestro for 1 billion euros

Reuters Staff BERLIN (Reuters) – German drugs and pesticides group Bayer (BAYGn.DE) said on Friday it had further reduced to just under 25 percent its holding in Covestro (1COV.DE), the plastics producer which it demerged in 2015, by selling a 6.9 percent stake for 1 billion euros ($1.2 billion). Bayer, which is trying to complete Read more about Bayer sells further stake in Covestro for 1 billion euros[…]

Amazon says Google has pulled YouTube from Echo Show device in tech face-off

Jeffrey Dastin SAN FRANCISCO (Reuters) – In a rare public feud between large technology companies, Amazon.com Inc said on Tuesday its Echo Show devices could no longer play videos from YouTube because the site’s parent, Google, stopped supporting the service. The spat is the latest in Silicon Valley in which competitive tensions stood in the Read more about Amazon says Google has pulled YouTube from Echo Show device in tech face-off[…]

Boeing to invest $33 million in joint venture with COMAC for China plant: China Daily

Reuters Staff SHANGHAI (Reuters) – Boeing Co (BA.N) will invest $33 million for a majority stake in a joint venture with Commercial Aircraft Corp of China (COMAC) that will oversee the U.S. planemaker’s new 737 completion plant in China, the China Daily reported. The firms had signed an agreement to set up the joint venture Read more about Boeing to invest $33 million in joint venture with COMAC for China plant: China Daily[…]

ABB buys GE business for $2.6 billion in bet it can boost margins

Reuters Staff ZURICH (Reuters) – Power grids maker ABB is buying General Electric’s Industrial Solutions business for $2.6 billion on a bet that it can improve lackluster margins at the unit over the next five years, the Swiss engineering company said on Monday. Zurich-based ABB sees potential for cost synergies of $200 million annually after Read more about ABB buys GE business for $2.6 billion in bet it can boost margins[…]

Euro, NZ dollar sideswiped by political uncertainty after elections

Wayne Cole, Hideyuki Sano SYDNEY/TOKYO (Reuters) – The euro slipped in early Asian trading on Monday after Germany’s election showed surging support for a far-right party that left Chancellor Angela Merkel scrambling to form a governing coalition. The euro fell as much as 0.5 percent to $1.1896 and last stood at $1.1933, down 0.2 percent, holding Read more about Euro, NZ dollar sideswiped by political uncertainty after elections[…]

Internet giants, once above the fray, on the defensive in Washington

Dustin Volz WASHINGTON (Reuters) – Internet giants, including Alphabet’s Google (GOOGL.O) and Facebook (FB.O), are moving to compromise on several major policy issues as they adjust to an abrupt shift in the political winds in Washington. Just last week, the U.S. Senate took a big step toward advancing legislation that would partially strip away the Read more about Internet giants, once above the fray, on the defensive in Washington[…]

Lazada expands Alibaba’s Taobao marketplace in Southeast Asia

Reuters Staff SINGAPORE (Reuters) – Online retailer Lazada Group said it will sell select items from Alibaba Group Holding Ltd’s Taobao marketplace in three more countries in Southeast Asia, expanding the partnership between the two e-commerce firms. Taobao Collection will be offered in Indonesia, the Philippines and Thailand in the next few weeks through Lazada’s Read more about Lazada expands Alibaba’s Taobao marketplace in Southeast Asia[…]