United States

Nokia in talks to buy Alcatel-Lucent; France wary about jobs

Nokia Oyj (NOK1V.HE) is in talks to buy smaller telecom equipment maker Alcatel-Lucent (ALUA.PA), a deal that would combine the industry's two weakest players but could pose challenges in cutting costs and overcoming political opposition.

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Global business groups urge China to suspend bank IT rules

Business associations from the United States, Japan and Europe told Chinese officials on Monday they still have "strong concerns" about bank information technology rules and urged Beijing to formally suspend them.

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Budget deficit rises to $53 billion in March

The United States ended the month of March with a budget deficit of $53 billion, up 43 percent from the same period last year, the U.S. Treasury Department said on Monday.

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IEA sees sharp rise in Iran oil output in 3-5 years post nuclear deal

World oil markets will not see a significant rise in Iranian supplies for up to five years even if the OPEC member and world powers clinch a final nuclear deal by end-June, Fatih Birol chief economist and future head of International Energy Agency (IEA) said.

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Volkswagen chairman appears isolated on board after CEO criticism

Volkswagen (VOWG_p.DE) Chairman Ferdinand Piech faces growing resistance within the carmaker's supervisory board to his criticism of Chief Executive Martin Winterkorn.

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German economy minister plays down boost from EU-U.S. trade deal: magazine

Germany's economy minister warned on Saturday against overblowing expectations for an economic boost from a trade deal between the United States and European Union but said the pact was needed to set high common standards for consumers.

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New U.S. offshore oil drilling rule planned: New York Times

The United States is planning to impose a major new regulation on offshore oil and gas drilling to try to prevent the kind of explosions that caused the catastrophic BP Plc (BP.L) oil spill in the Gulf of Mexico, the New York Times reported on Friday, citing Obama administration officials.

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Nikkei tops 20,000, European shares hit 15-year high

World shares tested record highs on Friday as hopes of more easy money from top central banks pushed Japan's Nikkei past 20,000 points for the first time in 15 years and European stocks reached similar heights.

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Nippon Life seeks acquisition targets including asset management firms

Nippon Life Insurance Co [NPNLI.UL] is looking for acquisition targets both in developed and emerging markets, including asset managers in the United States, as the domestic-focused insurer seeks to diversify sources of income.

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Cuba says U.S. companies won't get preferential treatment

U.S. companies can expect the same treatment as those from the rest of the world, receiving neither special benefits nor punishment, if there is a further commercial opening between Cuba and the United States, Cuba's foreign trade minister said.

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Oil jumps 5 percent on tempered Iran view, slower U.S. inventory rise

Oil prices jumped more than 5 percent on Monday as traders reassessed how quickly Iran might increase exports after a preliminary nuclear deal and anticipated that a months-long rise in U.S. crude inventories may be slowing.

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Toyota to end expansion freeze, invest $1.3 billion in two new Mexico, China plants: sources

Japan's Toyota Motor Corp (7203.T) will spend about 150 billion yen ($1.3 billion) to build two new car plants in Mexico and China, two people familiar with plans said, ending a three-year freeze imposed after unchecked growth lumbered the world's biggest auto maker with too many idle production lines.

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IBM hire advisers to deal with restless investors - sources

Some top shareholders of IBM, disappointed by 11 straight quarters of falling revenues, are seeking help from activist investors to shake up the company, but have been turned down by both Bill Ackman's Pershing Square and Jeffrey Ubben's ValueAct, according to people with knowledge of the matter.

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McDonald's raising average worker wage to about $10 an hour

McDonald's Corp (MCD.N) plans to raise the average pay of about 90,000 U.S. workers to around $10 an hour, but the increase will not benefit workers at the vast majority of the restaurants, because they are operated by franchisees, who make their own wage decisions.

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Automakers profit from luxury models, North America, China -McKinsey

The world's biggest automakers increasingly are making money by producing luxury models and reaping profits in China and North America, management consulting firm McKinsey & Co said in a report issued on Wednesday.

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