Business

(Reuters) – Uber Technologies Inc [UBER.UL] chose Dara Khosrowshahi, the chief executive of travel company Expedia Inc, as its chief executive on Sunday, according to two sources with knowledge of the matter, handing him the challenge of leading the ride-services company out of a nearly year-long crisis. Khosrowshahi, 48, would take on the daunting task
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NEW YORK (Reuters) – American International Group Inc’s (AIG.N) new Chief Executive Brian Duperreault has pledged to revive the insurer’s glory days of top talent, underwriting discipline and fat profit margins. One thing he has already brought back: big pay packages. As he rejoined AIG in May, the 70-year-old insurance industry veteran received bigger awards
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NEW YORK (Reuters) – U.S. small-cap stocks, highly sensitive to the fate of President Donald Trump’s policy ambitions, may face more selling pressure, leaving small-cap investors scrambling for quality names and more resilient sectors. Small-caps, which are more reliant on U.S. policy and economic conditions than are large multinationals, have fallen recently on rising doubts
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NEW DELHI (Reuters) – The Indian government has threatened Philip Morris International Inc with “punitive action” over the tobacco giant’s alleged violation of the country’s anti-smoking laws, according to a letter sent to the company by the federal health ministry. The letter was prompted by a Reuters investigation last month that revealed how Philip Morris
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(Reuters) – Clothing retailer Gap Inc (GPS.N) reported better-than-expected second-quarter results and raised its full-year profit forecast, helped by strong demand for Old Navy products and fewer discounts, and its shares rose about 5 percent. The company’s overall same-store sales increased 1 percent in the three months ended July 29, while analysts were expecting sales
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SYDNEY (Reuters) – Asian shares went flat on Tuesday as disappointing Chinese trade data clouded the otherwise upbeat outlook on global growth, leaving currencies and commodities becalmed in summer doldrums. MSCI’s broadest index of Asia-Pacific shares outside Japan gave up modest early gains to be barely changed, though it was still within a whisker of
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