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Updated: 2 hours 39 min ago

Citigroup reports $18 billion loss on one-time tax items

8 hours 58 min ago
(Reuters) - Citigroup Inc posted an $18-billion quarterly loss on Tuesday because of charges related to a new U.S. tax law, but its adjusted earnings beat Wall Street expectations and management signaled that the bank may soon lift financial performance targets.

Tortured, starved California children rarely seen outside home: neighbors

9 hours 1 min ago
PERRIS, Calif. (Reuters) - The 13 California siblings who police said were starved and chained to beds by their parents rarely left their disheveled house and, when they did, appeared small and pale and acted strangely, neighbors said.

GE to take $6.2 billion hit from insurance portfolio

9 hours 34 min ago
(Reuters) - General Electric Co will take a $6.2 billion charge in its fourth quarter results for a more than decade-old insurance portfolio covering long-term healthcare costs, the company said on Tuesday.

Dow breaches 26,000 mark on robust earnings reports

9 hours 49 min ago
(Reuters) - Wall Street's main indexes rose sharply on Tuesday, with the Dow hitting the 26,000 mark for the first time, as the fourth-quarter earnings season kicked into high gear.

Ex-Trump chief strategist Bannon to meet with House panel on Russia

10 hours 8 min ago
WASHINGTON (Reuters) - President Donald Trump's former chief strategist Steve Bannon will meet behind closed doors on Tuesday with a U.S. House of Representatives committee that is probing whether Russia meddled in the 2016 presidential election.

Homeland Security chief: Deporting 'Dreamers' not top priority

10 hours 38 min ago
WASHINGTON (Reuters) - Deporting immigrants who came to the United States illegally as children will not be a top federal law enforcement priority even if lawmakers do not pass a program to protect them, the U.S. Department of Homeland Security chief said in an interview aired on Tuesday.

Citi reports $18.3 billion loss on tax law; adjusted profit rises 4 percent

11 hours 47 min ago
(Reuters) - Citigroup Inc on Tuesday posted an $18.3 billion quarterly net loss on one-time tax charges, but said adjusted income rose 4 percent from a year earlier as consumer businesses made up for lower revenue from bond and currency trading. The loss for the fourth quarter was due to a $19 billion write-down on the value of deferred tax assets left from losses in the financial crisis and $3 billion of expenses for the new U.S. tax on past profits earned and kept abroad.

GE to take $6.2 billion charge in its finance arm

12 hours 42 min ago
(Reuters) - General Electric Co will record an after-tax charge of $6.2 billion in its fourth quarter results as part of an ongoing review of its finance arm's insurance portfolio, the company said.

Bitcoin slides 18 percent on crackdown fears; crypto rivals also plunge

14 hours 48 min ago
LONDON (Reuters) - Bitcoin tumbled 18 percent on Tuesday to a four-week trough close to $11,000, after reports that a ban on trading of cryptocurrencies in South Korea was still an option drove fears grew of a wider regulatory crackdown.

U.S. oil industry set to break record, upend global trade

17 hours 56 min ago
HOUSTON (Reuters) - Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day - toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago.

Vancouver meeting focuses on sanctions as Koreas explore detente

18 hours 5 min ago
VANCOUVER (Reuters) - A meeting of states that backed South Korea in the Korean war will look at ways to better implement sanctions to push North Korea to abandon its nuclear weapons, officials said, even as the North and South explore detente ahead of next month's Winter Olympics.

Exclusive: U.S. lawmakers urge AT&T to cut commercial ties with Huawei - sources

18 hours 49 min ago
WASHINGTON (Reuters) - U.S. lawmakers are urging AT&T Inc, the No. 2 wireless carrier, to cut all commercial ties to Chinese phone maker Huawei Technologies Co Ltd [HWT.UL] and oppose plans by telecom operator China Mobile Ltd to enter the U.S. market because of national security concerns, said two congressional aides.

China's economy set to slow to 6.5 percent in 2018 as government turns off cheap money: Reuters poll

19 hours 24 min ago
BEIJING (Reuters) - China's economy is expected to cool this year as a government-led crackdown on debt risks and factory pollution drag on overall activity, a Reuters poll showed on Tuesday.

Foreign governments, candidates, trade groups spent at Trump properties: report

20 hours 10 sec ago
WASHINGTON (Reuters) - Sixty-four trade groups, foreign governments, Republican candidates and others stayed at or held events at properties linked to U.S. President Donald Trump during Trump's first year in office, a political watchdog group said in a report released on Tuesday.

Veteran U.S. diplomat Richardson to work for Reuters reporters release

Mon, 01/15/2018 - 23:32
(Reuters) - Former New Mexico governor Bill Richardson said on Monday he would work toward securing the release of two Reuters journalists arrested in Myanmar in his capacity as a member of an international advisory board on the crisis in Rakhine state.

Indonesia bourse holds minute silence for injured after floor collapse

Mon, 01/15/2018 - 23:19
JAKARTA, (Reuters) - Indonesia's stock exchange held a minute silence at the start of trading on Tuesday for more than 70 people injured when a mezzanine floor in the building suddenly collapsed.

Asian shares shrug off losses, euro near three-year top

Mon, 01/15/2018 - 23:03
TOKYO (Reuters) - Asian shares pushed higher on Tuesday, erasing early modest losses while the euro stood near a 3-year peak on rising expectations that the European Central Bank could pare its monetary stimulus.

Thirteen siblings found chained in California home; parents charged

Mon, 01/15/2018 - 22:18
PERRY, Calif. (Reuters) - A California couple has been charged with torture after police rescued their 13 malnourished children from a home where some of them had been chained to beds, and neighbors on Monday described the family as shut-ins who shunned social contact.

Thirteen siblings found chained, starving in California home; parents charged

Mon, 01/15/2018 - 20:05
(Reuters) - Thirteen malnourished siblings, ranging in age from 2 to 29, were rescued by police in California from a house where some of them had been chained to beds, and their parents have been charged with torture, officials said on Monday.

Asian shares slip as iron ore softens, euro near three-year top

Mon, 01/15/2018 - 19:48
TOKYO (Reuters) - Asian shares slumped on Tuesday, as miners were pressured by weaker Chinese iron ore prices, while the euro stood near a 3-year peak on rising expectations that the European Central Bank could pare its monetary stimulus.