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Wednesday, December 20, 2017

Uber dealt blow after EU court classifies it as transport service

LUXEMBOURG (Reuters) - Uber [UBER.UL] should be classified as a transport service and regulated like other taxi operators, the European Union's top court said in a landmark ruling on Wednesday that could impact other online businesses in Europe.

Futures rise as tax overhaul bill nears passage

(Reuters) - U.S. stock futures pointed to strong gains for Wall Street on Wednesday after the Senate approved a sweeping $1.5-trillion tax bill, taking President Donald Trump closer to his first legislative victory.

Amazon's allure may be tough to top this holiday: poll

CHICAGO/NEW YORK (Reuters) - More U.S. online shoppers plan to give Amazon.com Inc the bulk of their holiday business this year than in previous years, according to a Reuters/Ipsos opinion poll, despite costly efforts by traditional retailers to attract customers to their websites.

Streaming music market picks up tempo ahead of Spotify IPO

LONDON (Reuters) - Subscription music leader Spotify is set to capitalize next year on the rude health of the industry with a stock market flotation, even as competitors race to find fresh ways to outflank it by catering to often fickle consumer tastes.

Exclusive: KPMG partners face court contempt over China audit

BEIJING (Reuters) - Several current and former KPMG partners are facing contempt proceedings in a Hong Kong court, as liquidators for a failed U.S.-listed Chinese company step up their action against the auditor over its refusal to produce Chinese working papers.

Exclusive: Russian oil firm Tatneft ran Crimea fuel station, despite sanctions risk

MOSCOW (Reuters) - One of Russia's biggest oil companies, Tatneft, has been doing business in Crimea despite the risk of being placed on a U.S. sanctions blacklist, according to company documents and a source close to Tatneft.

Wells Fargo wants to finance metal trade in test of new rule

WASHINGTON (Reuters) - Wells Fargo & Co has asked its main regulator if it may buy platinum and lease it to a client in a test of a new rule meant to limit banks' exposure to volatile commodity markets, people familiar with the matter told Reuters.

Bank of England to spare EU banks from costly rules, if Brexit goes well

LONDON (Reuters) - The Bank of England said on Wednesday it would spare European banks costly extra capital requirements once Britain leaves the European Union, but said there would be "consequences" if Brexit talks turn sour.

France fines J&J 25 million euros over painkiller patch

PARIS (Reuters) - France's competition authority fined U.S. healthcare group Johnson & Johnson 25 million euros ($29.62 million) on Wednesday after it found the company had deliberately slowed market access to generic copies of its painkiller Durogesic.

Hedge fund Knight Vinke lifts stake in M&A target Uniper

FRANKFURT (Reuters) - Hedge Fund firm Knight Vinke has increased its holding in Germany's Uniper to 5.02 percent, adding it would not tender that stake to Finland's Fortum as part of a 8.05 billion euro ($9.5 billion) takeover offer.