U.S. companies facing worker shortage race to automate

NEW YORK (Reuters) – U.S. companies are responding to the lowest unemployment rate in almost 50 years by increasing their focus on automation in order to maintain healthy margins as labor costs tick higher, a Reuters analysis of corporate earnings transcripts shows. The attempt to save money through technology does not come down to just installing more robots in factories. […]

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EU gas industry warns curbs on lending may harm climate goals

BRUSSELS (Reuters) – Europe’s gas industry lobby warned on Monday that curbs on lending by the European Investment Bank (EIB) and others could slow the switch from coal-fired to less polluting gas-fired power plants and harm the bloc’s climate ambitions. The EIB’s board, made up mostly of European Union finance ministers, is expected to discuss a proposal this month to […]

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Trump says hopes doesn't have to consider tariffs on German cars

BIARRITZ, France (Reuters) – U.S. President Donald Trump said on Monday that he and German Chancellor Angela Merkel discussed a trade deal with the European Union and said he hoped Washington would not have to consider imposing tariffs on German cars. He was speaking on the sidelines of a G7 summit in the French coastal resort of Biarritz, which Trump […]

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Deutsche Bank shares slide again on doubts about turnaround

LONDON/FRANKFURT (Reuters) – Deutsche Bank DKBGn.DE shares extended losses on Tuesday on investor doubts that the new chief executive can revive the lender by shrinking the investment bank and returning to its roots as banker to corporate Germany. Christian Sewing, CEO for just over a year, and his finance chief are on week-long roadshow to explain the restructuring. Sewing plans […]

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Deutsche Bank to cut 18,000 jobs in 7.4 billion euro overhaul

FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) is to ax vast swathes of its trading desks in one of the biggest overhauls to an investment bank since the aftermath of the financial crisis, in a restructuring that will see 18,000 jobs go and cost 7.4 billion euros. The plan represents a major retreat from investment banking by Deutsche Bank, which for […]

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Airbus launches new A321 jet, Boeing apologizes for MAX crisis

LE BOURGET, France (Reuters) – Airbus launched a long-range version of its A321neo jet at the Paris Airshow on Monday, aiming to carve out new routes for airlines with smaller planes and steal a march on rival Boeing’s plans for a possible new mid-market jet. The European planemaker will announce close to 200 orders for the new model – the […]

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Trump's Mexican tariffs threat sends shudders through autos sector

TOKYO/MILAN (Reuters) – Shares of global automakers and suppliers tumbled on Friday after U.S. President Donald Trump threatened to impose tariffs on imports from Mexico, potentially upending a global manufacturing business model established decades ago. From Mazda in Japan to Volkswagen in Germany to General Motors in the United States, carmaker stocks took a hit as a new front opened […]

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Santander seeks full ownership of Mexican business with $2.9 billion deal

SANTANDER/MADRID (Reuters) – Santander has offered to take full control of its Mexican business through a 2.6 billion euro ($2.9 billion) all-share deal as the Spanish bank chases potentially higher returns available from Latin America. The deal proposed on Friday, which was broadly welcomed by analysts, will unwind Santander’s listing of 25 percent of the bank on the Mexican stock […]

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