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U.S. State Department recalls furloughed employees amid shutdown

January 17, 2019 1:40 PM EST

WASHINGTON (Reuters) - The U.S. State Department said on Thursday it was calling its furloughed employees back to work next week as it takes steps to pay salaries despite a partial shutdown of the government.

"As a national security agency, it is imperative that the Department of State carries out its mission," Deputy Under Secretary of State Bill... More

Senate will not be in recess next week if government is still closed: McConnell

January 15, 2019 2:48 PM EST

WASHINGTON (Reuters) - U.S. Senate Republican leader Mitch McConnell told reporters on Tuesday the Senate would not close for a planned recess if the partial government shutdown stretches into next week.

The partial government shutdown is on its 25th day and has become the longest... More

Exclusive: Jana liquidates two hedge funds, to focus only on activism

January 15, 2019 12:39 PM EST

By Svea Herbst-Bayliss

NEW YORK (Reuters) - Jana Partners LLC, founded by Barry Rosenstein, is shutting down two stock-picking hedge funds following losses and will focus instead on its main strategy of investing in a handful of companies and pushing management to improve their performance.

The New York-based firm, which managed $11 billion at its peak in 2015, will liquidate its Jana Partners and Jana Nirvana funds, the firm told its investors in a letter seen by Reuters.

Instead it will focus solely on its Jana Strategic Investment (JSI) fund, which manages $1.5 billion, and will also launch its... More

Walgreens and Microsoft partner to develop digital healthcare services

January 15, 2019 10:37 AM EST

(Reuters) - Drugstore chain Walgreens Boots Alliance Inc and Microsoft Corp said on Tuesday they have entered a seven-year agreement to research and develop new methods of delivering healthcare services through digital devices.

As a part of the deal, the companies will focus on virtually connecting people with... More

N.Y. Fed's Empire State business index hits lowest since May 2017

January 15, 2019 9:08 AM EST

NEW YORK (Reuters) - The New York Federal Reserve said on Tuesday its barometer on business activity in New York state declined more than expected in January to its lowest level since May 2017, suggesting a further deceleration in domestic factory activity.

U.S. manufacturers have grown worried about... More

UK gambling stocks drop after U.S. DOJ reverses opinion on internet betting

January 15, 2019 3:52 AM EST

(Reuters) - Shares of British betting companies, which have been pushing into the United States market because of tighter regulations at home, fell after the U.S. Department of Justice called for wider restrictions on all gambling on the internet.

UK bookies such as William Hill Plc , Paddy Power Betfair Plc and 888 Holdings Plc fell between 1.5 percent to 7 percent on Tuesday after the U.S. regulator reversed its 2011 opinion that made only sports... More

Embraer says cash position from Boeing deal still to be determined

January 14, 2019 6:02 AM EST

SAO PAULO (Reuters) - Brazilian planemaker Embraer said in a securities filing on Monday that its cash boost from a potential sale of 80 percent of its commercial aviation business to Boeing is still to be determined.

Embraer had previously said it expected the cash boost to be about $1 billion.

... More

U.S. government shutdown may depress January job growth

January 11, 2019 3:32 PM EST

By Lucia Mutikani

WASHINGTON (Reuters) - A partial shutdown of the U.S. government could slash job growth by as much as 500,000 in January and lift the unemployment rate above 4.0 percent unless the impasse in Washington is resolved before next Friday, economists warned.

Some 800,000 government workers missed their first paycheck on Friday following the partial shutdown which started on Dec. 22 as President Donald Trump demanded that the U.S. Congress give him $5.7 billion this year to help build a wall on the country's border with Mexico.

The Labor Department, which has not been affected by the... More

Investor Schonfeld opens London office, aims to boost foreign bets

January 11, 2019 2:36 PM EST

BOSTON (Reuters) - Multibillion-dollar U.S. hedge fund investor Schonfeld Strategic Advisors opened an office in London and hired two portfolio managers as the firm seeks to make more investments outside of the United States, an executive said on Friday.

Schonfeld, which mostly manages trading magnate Steven Schonfeld's personal fortune and has long been... More

Factbox: Impact on U.S. government widens on 21st day of shutdown

January 11, 2019 6:12 AM EST

(Reuters) - A shutdown of about a quarter of the U.S. government reached its 21st day on Friday, tying it with the longest shutdown to date, and many of the 800,000 employees who have been furloughed or who are working without pay missed their first paychecks.

The White House and congressional Democrats remain divided over Republican President Donald Trump's demand for money for a border wall, even as the president warned in Texas on Thursday that he may use emergency powers to bypass Congress and get billions of dollars to build it.

The shutdown, which began on... More

Foreign U.S. Treasury holdings at Fed rebound

January 10, 2019 5:14 PM EST

(Reuters) - Foreign central banks' holdings of U.S. Treasuries at the Federal Reserve rose, rebounding from a near 17-month low, even as the dollar fell to a three-month low this week, U.S. central bank data released on Thursday showed.

The U.S. central bank's custody holdings of U.S. government debt securities for... More

Court says Amazon 'Dash' buttons violate German law

January 10, 2019 2:10 PM EST

BERLIN (Reuters) - A German court ruled on Thursday that Amazon's thumb-sized ordering devices known as "Dash" buttons do not give sufficient information about the product ordered or its price, breaking consumer protection legislation.

The ruling came after a regional consumer protection watchdog brought a case against Amazon, arguing that the Dash buttons violate laws that say shoppers should know what they are paying at the time of any transaction.

... More

Third time may be a charm as Jeff Vinik relaunches hedge fund

January 10, 2019 1:37 PM EST

By Svea Herbst-Bayliss

NEW YORK (Reuters) - Prominent investor Jeffrey Vinik is ready to manage money for outside clients again and plans to relaunch his hedge fund firm Vinik Asset Management after sitting out the last six years.

Vinik, who once ran Fidelity's Magellan mutual fund and then oversaw $10 billion at his own hedge fund, is starting for a third time, he told Reuters on Thursday.

Based in Tampa, Florida, the 59-year-old plans to raise as much $3 billion for his portfolio and start trading within weeks, people familiar with his plans said.

Explaining that... More

Exclusive: Sears chairman submits new roughly $5 billion bid to save retailer - sources

January 9, 2019 6:57 PM EST

By Jessica DiNapoli and Mike Spector

NEW YORK (Reuters) - Sears Holdings Corp Chairman Eddie Lampert submitted a revised roughly $5 billion takeover bid for the company on Wednesday, people familiar with the matter said, boosting the chances that the U.S. department store operator will escape liquidation.

In a concession, Lampert agreed to assume tax and vendor bills Sears has incurred since filing for bankruptcy protection in October, the sources said. The billionaire's revised bid was submitted through an affiliate of his hedge fund, ESL Investments Inc, on Wednesday afternoon along with a $120 million deposit, the sources added.

... More

U.S., Israel air concerns over China telecom companies: U.S. official

January 9, 2019 4:52 PM EST

WASHINGTON (Reuters) - U.S. President Donald Trump's national security adviser John Bolton raised U.S. concerns about the use of Chinese telecommunications equipment in sensitive sectors during a weekend meeting with Israeli Prime Minister Benjamin Netanyahu, a U.S. official said on Wednesday.

"We are all concerned about theft of intellectual property and Chinese telecoms companies that are being used by China for intelligence-gathering purposes," said a senior administration official who was briefed on the talks.

The Trump administration has taken a series... More

U.S. shutdowns usually have small economic effect: Fed official

January 9, 2019 10:05 AM EST

RIVERWOODS, Ill. (Reuters) - U.S. government shutdowns usually have a relatively small drag on the overall economy, though the Federal Reserve will monitor the effects and length of the current one, Chicago Fed President Charles Evans said on Wednesday.

"By and large these things are usually... More