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Trump pulls U.S. out of Pacific trade deal, loosening Asia ties

Trump holds a roundtable meeting with labor leaders at the White House in WashingtonBy Steve Holland and Ayesha Rascoe WASHINGTON (Reuters) - U.S. President Donald Trump formally withdrew the United States from the Trans-Pacific Partnership trade deal on Monday, distancing America from its Asian allies, as China's influence in the region rises. Fulfilling a campaign pledge to end American involvement in the 2015 pact, Trump signed an executive order in the Oval Office pulling the United States out of the 12-nation TPP. Trump, who wants to boost U.S. manufacturing, said he would seek one-on-one trade deals with countries that would allow the United States to quickly terminate them in 30 days "if somebody misbehaves." We're going to stop the ridiculous trade deals that have taken everybody out of our country and taken companies out of our country," the Republican president said as he met with union leaders in the White House's Roosevelt Room.

Mon, 23 Jan 2017 17:01:31 -0500
Yahoo results beat; sees Verizon deal closing later than expected

Yahoo Inc reported better-than-expected quarterly adjusted profit and revenue, and said it expected the sale of its core internet business to Verizon Communications Inc to complete in the second quarter from the first. The fate of the deal was thrown into doubt after Yahoo disclosed two major data breaches last year. The internet pioneer said in December it had uncovered a massive cyber attack in 2013 affecting more than 1 billion user accounts, double the number compromised in a 2014 breach that Yahoo disclosed in September.

Mon, 23 Jan 2017 16:44:02 -0500
U.S. blocks health insurer Aetna's $34 billion Humana acquisition

A trader points up at a display on the floor of the New York Stock ExchangeThe ruling is another victory for the U.S. Justice Department, whose antitrust enforcement became much more aggressive during former U.S. President Barack Obama's eight years in office, which ended last week.

Mon, 23 Jan 2017 17:50:57 -0500
Wall Street dips on Trump protectionism, Qualcomm drag

Traders work on the floor of the NYSE in New York CityU.S. stocks edged lower on Monday as early moves by President Donald Trump highlighting a protectionist stance on trade gave investors cause to rethink the post-election rally. In his latest executive order, Trump signed to formally withdraw the United States from the 12-nation Trans-Pacific partnership trade deal. Trump has also vowed to renegotiate the North American Free Trade Agreement (NAFTA) with leaders of Canada and Mexico.

Mon, 23 Jan 2017 16:28:26 -0500
McDonald's U.S. restaurant sales fall after five quarters of gains

The logo of Dow Jones Industrial Average stock market index listed company McDonald's (MCD) is seen in Los AngelesShares of McDonald's were down 0.5 percent at $121.60 after the world's biggest fast-food chain released its fourth-quarter report on Monday. McDonald's and other U.S. restaurant operators are battling competition from convenience stores, supermarkets and meal kit delivery services such as Blue Apron.

Mon, 23 Jan 2017 13:24:35 -0500
Citi units to pay $28.8 million for giving U.S. homeowners 'runaround': watchdog

A view of the exterior of the Citibank corporate headquarters in New York, New YorkThe U.S. consumer financial watchdog said on Monday it had fined subsidiaries of Citigroup Inc $28.8 million for giving "the runaround to borrowers" on mortgage servicing by keeping them in the dark about options to avoid foreclosure or making it difficult for them to apply for relief. CitiMortgage will pay an estimated $17 million to compensate wronged consumers, as well as a civil penalty of $3 million, the Consumer Financial Protection Bureau said.

Mon, 23 Jan 2017 15:51:49 -0500
U.S. judge approves Volkswagen dealers $1.2 billion settlement

FILE PHOTO - Volkswagen logo is pictured at the newly opened Volkswagen factory in WrzesniaWASHINGTON (Reuters) - U.S. District Judge Charles Breyer on Monday granted final approval to Volkswagen AG's (VOWG_p.DE) settlement worth up to $1.21 billion with 652 U.S. dealers over its diesel emissions scandal.

Mon, 23 Jan 2017 17:17:11 -0500
LG Display says 2016 profit $1.1 billion, down 19 percent on year

An LG Electronics' logo is pictured on a TV displayed at a shop in SeoulSEOUL (Reuters) - South Korea's LG Display Co Ltd said on Tuesday its 2016 operating profit fell 19 percent from a year earlier. The world's biggest liquid crystal display maker said its operating profit last year was 1.3 trillion won ($1.12 billion). In the October-December quarter, LG Display made an operating profit of about 904 billion won, according to Reuters calculations. (Reporting by Joyce Lee; Editing by Chris Reese)

Mon, 23 Jan 2017 17:19:51 -0500
Trump to meet with U.S. auto CEOs amid jobs push

President Trump meets business leaders at the White House in WashingtonU.S. President Donald Trump will have breakfast on Tuesday with the chief executives of General Motors Co , Ford Motor Co and Fiat Chrysler Automobiles NV as he pressures automakers to boost American employment. White House spokesman Sean Spicer said Trump "looks forward to hearing their ideas about how we can work together to bring more jobs back to this industry." Trump has criticized automakers for building cars in Mexico and elsewhere and has threatened to impose 35 percent tariffs on imported vehicles.

Mon, 23 Jan 2017 16:12:14 -0500
U.S. SEC says shipowner OSG, former CFO, charged over tax evasion

A woman waits for an elevator at the Fort Worth Regional Office of the SEC in Fort WorthWASHINGTON (Reuters) - The U.S. Securities and Exchange Commission said it charged on Monday shipping conglomerate Overseas Shipholding Group (OSG) and its former chief financial officer Myles Itkin with failing to recognize some $512 million in tax liabilities.

Mon, 23 Jan 2017 16:08:41 -0500
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