Amazon plans layoffs at Quidsi unit after losses

By Jeffrey Dastin

 Amazon.com Inc  plans to cut 263 jobs at its money-losing parenting products unit Quidsi this summer as part of a business restructuring, it said in a notice filed with New Jersey on Wednesday.

The New Jersey-based subsidiary operates Diapers.com, Soap.com and other websites.

"We have worked extremely hard for the past seven years

Mexico's governors tap investors in China, elsewhere

By Anthony Esposito

MEXICO CITY  - Mexico's states are turning to Asia and beyond as some U.S. companies put investment plans on hold south of the border following President Donald Trump's calls to bring jobs back home.

A delegation of three Mexican state leaders, headed by the National Confederation of Governors (Conago), travelled to China thi

Ex-Christie associates get up to two years in prison in 'Bridgegate' scandal

By Joseph Ax

NEWARK, N.J. - Two former associates of New Jersey Governor Chris Christie were sentenced to federal prison on Wednesday for their part in the "Bridgegate" lane closure scandal that helped scuttle the Republican's presidential bid.

Bill Baroni, 45, the former deputy executive director of the Port Authority of New York and New Jerse

FACTBOX - British business navigates rocky path to Brexit

By Kate Holton

LONDON  - British businesses have endured a roller coaster ride since the vote to leave the European Union, with some ramping up their investment in the country and others pulling market flotations and ditching takeover deals.

Britain avoided a full collapse in mergers and acquisitions when some foreign companies took advantage of sterlin

EXCLUSIVE: Genel Energy CFO to step down, search for chairman continues - sources

By Ron Bousso

LONDON  - Genel Energy is set to lose its finance chief while still struggling to find a replacement for Chairman Tony Hayward, sources told Reuters, increasing pressure on the company after a second revision to its Kurdish oil reserves sent its shares sliding this week.

Together with the collapse in oil prices since 2014, the former leade

Volkswagen files complaint over searches of its dieselgate law firm

BERLIN  - Volkswagen has filed a legal complaint with a Munich court, seeking to prevent German prosecutors from using information seized during searches of the law firm it hired to investigate its emissions scandal.

The decision follows a meeting of VW's supervisory board on Tuesday, when officials discussed what legal recourse the carmaker has to prevent pr

Brexit's cliff edge: 'business as usual' not an option

By Tom Miles

GENEVA  - Failure to strike a trade deal with the European Union by a two-year deadline would force Britain to adopt World Trade Organization arrangements, bringing with it a host of new negotiations and complications.

In a nutshell, Britain would have to treat everyone the same, whether it wanted to or not, from Russian exporters to Brazil

EXCLUSIVE: Greece, European Union/Monetary Fund lenders agree on key labour reforms, pension cuts - sources

By Renee Maltezou and Lefteris Papadimas

ATHENS  - Greece has agreed with its lenders on key labour reforms, spending cuts and energy issues, moving closer to clinching a deal before a meeting of euro zone finance ministers on April 7, sources close to the talks said on Wednesday.

The European Commission could not immediately confirm the report of a pre

BlackRock cuts fees and jobs; stockpicking goes high-tech

By Trevor Hunnicutt

NEW YORK - BlackRock Inc on Tuesday said it would overhaul its actively managed equities business, cutting jobs, dropping fees and relying more on computers to pick stocks in a move that highlights how difficult it has become for humans to beat the market.

The world's biggest money manager has faced active stock fund withdrawals and t

European Union rapid drug approval plan worries some national agencies

By Ludwig Burger

FRANKFURT - A push by the European Medicines Agency to speed up the approval of new drugs that show promise is running into resistance from some of the national agencies that will ultimately decide whether the medicines are worth buying.

Pharmaceutical companies, patient advocacy groups and lawmakers around the world are pushing regulators t

Asia shares creep up to near 2-year peak, dollar firms

TOKYO - Asian shares edged up to near their highest in two years on Thursday, while the dollar benefited from waning expectations that the European Central Bank was poised to end its easy policy.

MSCI's broadest index of Asia-Pacific shares outside Japan  was 0.2 percent higher in early trade, pushing against its loftiest levels since June 2015.

Jap

British PM May fires starting gun on Brexit

By Guy Faulconbridge and Elizabeth Piper

LONDON - Prime Minister Theresa May filed formal Brexit divorce papers on Wednesday, pitching the United Kingdom into the unknown and triggering years of uncertain negotiations that will test the endurance of the European Union.

Nine months after Britons voted to leave, May notified EU Council President Donald Tusk in

Stocks slip, sterling steadies as Brexit becomes real

By Jamie McGeever

LONDON  - European shares drifted lower on Wednesday, while sterling battled back from a one-week low and regained its composure amid the drama of Britain formally triggering its exit process from the European Union.

The pound was the biggest loser on major currency markets as European trading got underway. But it clawed back almost al

China urges US to abide by WTO rules in aluminium foil trade

China on Wednesday urged the US authorities to abide by World Trade Organisation rules in the ongoing anti-dumping and anti-subsidy investigation concerning Chinese aluminium foil.

The US Department of Commerce launched an investigation after the Aluminium Association Trade Enforcement Working Group accused Chinese aluminium foil producers of using improper subsidies and selling at un

Vedanta's Agarwal says no plans to buy Anglo American assets in South Africa

By Julia Payne and Gus Trompiz

LAUSANNE- The chairman of Indian miner Vedanta Resources said on Wednesday he had no plans to buy assets in South Africa from Anglo American or push for a board seat after announcing plans to buy a 13 percent stake in the mining giant.

Indian billionaire and Vedanta Chairman Anil Agarwal said this month he would buy a 2 billion

China's Fosun CEO and VP step down in surprise reshuffle

By Anne Marie Roantree and Julie Zhu

HONG KONG  - Fosun International Ltd, one of China's most aggressively acquisitive conglomerates, said its chief executive and vice president stepped down in a surprise reshuffle that has raised concerns over the group's strategy.

The resignation of co-founder and Chief Executive Liang Xinjun and Senior Vice

Japan's tepid retail sales raise concerns about consumption, growth

By Stanley White and Izumi Nakagawa

TOKYO - Japanese retail sales were effectively flat in February as consumers cut back on food and durable goods after employers offered the lowest spring wage increases in four years.

Retail sales rose 0.1 percent in February from a year ago, well below the median estimate for a 0.5 percent annual increase, and much less t

Huge nuclear cost overruns push Toshiba's Westinghouse into bankruptcy

By Tom Hals, Makiko Yamazaki and Tim Kelly

WILMINGTON, DEL./TOKYO - Westinghouse Electric Co, a unit of Japanese conglomerate Toshiba Corp , filed for bankruptcy on Wednesday, hit by billions of dollars of cost overruns at four nuclear reactors under construction in the U.S. Southeast.

The bankruptcy casts doubt on the future of the first new U.S. nuclear po

Japan govt aware Toshiba's Westinghouse to file for Chapter 11

TOKYO - The Japanese government is aware that Toshiba Corp's U.S. nuclear unit Westinghouse plans to file for Chapter 11 bankruptcy protection, Chief Cabinet Secretary Yoshihide Suga said on Wednesday.

Suga, the government's chief spokesman, told a regular news conference he wants the Japanese and U.S. governments to continue to exchange information about West

Trump applauds Ford's previous planned investment in Michigan plants

By Nick Carey and Susan Heavey

DETROIT/WASHINGTON  - Ford Motor Co  on Tuesday said it would invest $1.2 billion in three Michigan facilities and create 130 jobs in projects largely in line with a previous agreement with the United Auto Workers union, hours after U.S. President Donald Trump touted a "major investment" by the automaker on Twitter.

Tesla deal boosts Chinese presence in U.S. auto tech

By Paul Lienert

DETROIT  - China's Tencent Holdings Ltd has bought a 5 percent stake in U.S. electric car maker Tesla Inc  for $1.78 billion, the latest investment by a Chinese internet company in the potentially lucrative market for self-driving vehicles and related services.

Tencent's investment, revealed in a U.S. regulatory filing, prov

Trump offers federal coal to industry awash in reserves

By Timothy Gardner and Richard Valdmanis

WASHINGTON - U.S. President Donald Trump's administration has billed his move to reopen federal lands to new coal leases as a win for miners seeking to expand production. But a review of company filings shows that coal miners with the most to gain already have enough leases in hand to last well over a decade.

Trum

Toshiba's Westinghouse to file for U.S. bankruptcy Tuesday -sources

By Kentaro Hamada and Taro Fuse

TOKYO  - U.S. nuclear developer Westinghouse Electric Co plans to seek bankruptcy protection from creditors on Tuesday as it struggles to limit losses that have thrown its Japanese parent Toshiba Corp into crisis, people familiar with Toshiba's thinking said.

Pittsburgh-based Westinghouse, crippled by cost overruns at

Asia stocks up with dollar, sterling cold shouldered on Brexit day

By Wayne Cole

SYDNEY - Asian shares inched ahead on Wednesday while the dollar and commodities held gains as investors shook off disappointment about U.S. President Donald Trump's failed healthcare bill and focussed on an improving outlook for global growth.

The good cheer did not extend to the pound which was on the skids as the British government sent

Uber diversity report shows shortage of women, minorities

By Heather Somerville

Uber Technologies Inc  released its first diversity report on Tuesday, showing that women and non-white employees are underrepresented at the ride-services company - just as they are at many other technology firms.

Uber released the information after a series of revelations about its culture and business tactics that have incited calls for consumer