Reuters US Business

By Manya Saini (Reuters) -Teamshares, a buyer of small- to medium-sized enterprises, said on Friday it would go public in the U.S. through a $746 million blank-check deal with Live Oak Acquisition Corp backed by accounts advised by investment giant T. Rowe Price. Special purpose acquisition deals have made a comeback on Wall Street in …

Exclusive-Teamshares to list in US via $746 million T. Rowe Price-backed SPAC deal Read More »

(Reuters) -Union Pacific and Norfolk Southern shareholders approved a deal to merge both railroad operators, the companies said on Friday. Over 99% of shareholders at both Union Pacific and Norfolk voted in favor of the $85 billion deal. The deal, which has drawn a positive response from U.S. President Donald Trump, is still subject to …

Union Pacific, Norfolk shareholders approve $85 billion merger Read More »

By Siddarth S and Kanchana Chakravarty (Reuters) -Applied Materials shares slipped more than 3% in early trading on Friday as the chip equipment maker forecast reduced spending in China next year due to stringent U.S. export curbs. The U.S. government has cracked down on foreign companies, especially from China, that use subsidiaries and affiliates to …

Applied Materials’ shares drop as stringent US export curbs weigh on China business Read More »

By Idrees Ali WASHINGTON (Reuters) -Large defense companies have “conned” the U.S. military into buying expensive equipment when cheaper commercial options would have been available, U.S. Army Secretary Dan Driscoll said. Government accountability advocates and some lawmakers have long argued that defense contractors have overcharged the military. But Driscoll’s comments were unusually blunt for a …

Weapons makers have ‘conned’ US military into buying expensive equipment, Army Secretary says Read More »

By Joe Cash BEIJING (Reuters) -China’s factory output and retail sales grew at their weakest pace in over a year in October, piling pressure on policymakers to revamp the $19 trillion export-driven economy as a trade war with the U.S. and weak domestic demand heighten risks to growth. For decades, the officials charged with keeping …

China’s economy jolted by weakest factory output, retail sales growth in over a year Read More »