Business News

• 'Small-town kids' shape future of China's consumption April 25, 2018
  XINXIANG, China (Reuters) - The bright lights of Beijing or Shanghai have never held much allure for Wu Tongxu, a 24-year-old civil servant earning a modest salary in the nondescript city of Xinxiang in China's central Henan province.
• Shire says willing to recommend Takeda's $64 billion offer to shareholders April 25, 2018
  LONDON/NEW YORK/TOKYO (Reuters) - Rare disease drug maker Shire Plc said on Tuesday it was willing to recommend a sweetened $64 billion offer from Japan's Takeda Pharmaceutical Co to shareholders, in what could be the biggest acquisition of a drug company this year.
• Ford hopes China easing will speed up Zotye venture approval April 25, 2018
  BEIJING (Reuters) - Ford Motor Co's Asia head said on Wednesday he hoped recent Chinese moves to relax ownership rules in the country's auto market would speed up regulatory approval for its electric vehicle joint venture with local firm Zotye Automobile Co Ltd .
• SoftBank to move ride-hailing stakes worth $20 billion to Vision Fund: FT April 25, 2018
  (Reuters) - Japan's SoftBank Group plans to shift more than $20 billion of its investments in top ride-hailing companies including Uber Technologies Inc [UBER.UL], Ola, Grab and Didi Chuxing into its Saudi-backed Vision technology fund, the Financial Times reported on Wednesday.
• Amazon.com plays catch-up in Brazil as local rivals thrive April 25, 2018
  SAO PAULO (Reuters) - Claudia Maria de Oliveira is leery of online shopping. But while browsing social media recently, the 49-year-old Brazilian spotted a bargain-priced sandwich press from local retailer Magazine Luiza SA.
• Kobe Steel says under investigation over data tampering scandal April 25, 2018
  TOKYO (Reuters) - Kobe Steel Ltd said on Wednesday that it is under investigation by Japanese authorities over its data tampering, widening a scandal that undermined faith in Japan's industrial sector last year.
• GM, South Korea weigh raising investment plan in unit from $2.8 billion: source April 25, 2018
  SEOUL (Reuters) - General Motors and South Korea are considering increasing the size of their investment in the U.S. automaker's local unit from a previously proposed $2.8 billion, a senior government source with direct knowledge of the matter said on Wednesday.
• Asian shares spooked by rising U.S. yields, cost worries April 25, 2018
  TOKYO (Reuters) - Asian shares fell on Wednesday as a rise in U.S. bond yields to 3 percent and warnings from bellwether U.S. companies of higher costs drove fears that corporate earnings growth may peak soon.
• Trump says NAFTA talks going 'nicely,' Canada sees progress on auto rules April 24, 2018
  WASHINGTON (Reuters) - U.S. President Donald Trump said on Tuesday a new North American Free Trade Agreement could be agreed on quickly, as Canada hailed progress on forging new rules for the auto industry, the pivotal issue in talks to revamp the 24-year-old accord.
• DoubleLine's Gundlach says U.S. Treasuries 'not attractive' April 24, 2018
  NEW YORK (Reuters) - Jeffrey Gundlach, chief executive officer of DoubleLine Capital, said on Tuesday that U.S. Treasuries were "not attractive" even though the 10-year yield , a benchmark for global borrowing costs, crossed the critical 3 percent threshold earlier in the day.