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Business Strategy Strategic Alliances

  • TORONTO, Aug 16- Canadian Imperial Bank of Commerce said on Wednesday it plans to launch a new online banking brand to replace the PC Financial consumer banking business it operates in partnership with retailer Loblaw Companies Ltd.. CIBC, Canada's fifth-biggest lender, said the 2 million customers it currently serves through PC Financial will have their...

  • Trump broke from his 17- day vacation in New Jersey to sign the memo in the White House at a time of heightened tensions between Washington and Beijing over North Korea's nuclear ambitions. The investigation is likely to cast a shadow over relations with China, the largest U.S. trading partner, just as Trump is asking Beijing to step up pressure against Pyongyang.

  • WASHINGTON, Aug 14- President Donald Trump on Monday authorized an inquiry on whether to investigate China's alleged theft of intellectual property, the first direct action by the White House against a country Trump has painted as the U.S. chief trade villain. Trump broke from his 17- day vacation in New Jersey to sign the memo in Washington at a time of...

  • BERLIN, Aug 10- Cooperation talks between Germany's Volkswagen Group and India's Tata Motors about joint development of a car for emerging markets have ended amicably, the two companies said on Thursday. The collapse of the talks is a further blow to Volkswagen's efforts to develop a cheap vehicle platform for Asian markets, after an earlier alliance with...

  • *Q3 EBIT 620 mln eur vs Reuters poll avg 493 mln eur. FRANKFURT, Aug 10- Thyssenkrupp will not be rushed into any deal with Tata Steel to merge their European steel businesses, its chief financial officer said, pouring cold water on investor hopes for a quick agreement. Britain's Sky News reported on Wednesday that Tata Steel was on the brink of detaching its British...

  • *PwC signs off on results, likely allowing Toshiba to stay listed. TOKYO, Aug 10- Toshiba Corp has likely avoided immediate delisting after its auditor signed off on its financial results albeit with criticism of its governance, yet its future remains uncertain with no progress in talks to sell its chips unit for much-needed cash. PriceWaterhouseCoopers Aarata...

  • TOKYO, Aug 10- Toshiba Corp has secured its auditor's sign-off on its financial results, likely avoiding an immediate delisting, although its future hung in the balance with no progress in talks to sell its chips business. Toshiba said on Thursday that PriceWaterhouseCoopers Aarata LLC had given a "qualified opinion" on its results for the year through March as...

  • TOKYO, Aug 9- Toshiba Corp's shares jumped more than 9 percent early on Wednesday after sources told Reuters the Japanese conglomerate's auditor was likely to sign off on its annual results. PricewaterhouseCoopers Aarata LLC will give a "qualified opinion" endorsing Toshiba's finances in the financial statement for the year ended in March, people with direct...

  • Aug 7- Marriott International Inc said on Monday it would partner with China's Alibaba Group Holding Ltd to tap into the growing number of Chinese citizens who travel abroad. The long-term market opportunity in China is huge for companies targeting both domestic and outbound Chinese travelers, according to Rich Hightower, an equity analyst with Evercore ISI.

  • Aug 7- Marriott International Inc said on Monday it would partner with China's Alibaba Group Holding Ltd to tap into the growing number of Chinese citizens who travel abroad. Alibaba shares were up nearly 3 percent on the New York Stock Exchange at $157.90. The long-term market opportunity in China is huge for companies targeting both domestic and outbound...

  • Aug 7- Marriott International Inc said on Monday it would partner with China's Alibaba Group Holding Ltd to tap into the growing number of Chinese consumers traveling abroad. The deal would allow Bethesda, Maryland- based Marriott to leverage Alibaba's large consumer base in China. Marriott owns the JW Marriott, Ritz-Carlton, Renaissance and Autograph...

  • *Toyota to take 5 pct stake in Mazda, Mazda takes 0.25 pct in Toyota. TOKYO, Aug 4- Toyota Motor Corp and Mazda Motor Corp plan to build a $1.6 billion U.S. assembly plant, the two said on Friday, as part of an alliance that will also see the Japanese automakers jointly develop electric vehicle technologies. The two will take small stakes in each other as part of the tie-up:...

  • TOKYO, Aug 4- Japanese Trade Minister Hiroshige Seko said on Friday he welcomed the cooperation between Toyota Motor Corp and Mazda Motor Corp on producing cars with next-generation technology. Seko, speaking to reporters, said he was sure the tie-up between the two companies would contribute to the development of electronic vehicles. Toyota and Mazda...

  • TOKYO, Aug 4- Japan's Nikkei share average slipped on Friday as the yen's rise to seven-week highs overshadowed optimism on corporate earnings, while Mazda Motor rose ahead of an expected announcement of a capital alliance with Toyota Motor. A surprisingly soft reading on U.S. services sector sapped risk appetite and helped to bring down the dollar to a...

  • WASHINGTON/ DETROIT Aug 3- Toyota Motor Corp and rival Mazda Motor Corp are expected to announce plans on Friday to launch a joint venture and build a new U.S assembly plant, a person briefed on the matter said. Japan's Nikkei reported on Thursday that Toyota would take a roughly 5 percent stake in Mazda Motor Corp to develop key electric vehicle technologies and...

  • LONDON, Aug 3- Life and general insurer Aviva posted an 11 percent rise in operating profit in the first half of 2017 to 1.47 billion pounds, it said on Thursday, boosted by strong performances in its general insurance and fund management units. Aviva also announced a 10- year extension of its UK general insurance distribution agreement with HSBC, which it said was...

  • TOKYO, Aug 3- Toshiba Corp said on Thursday it would go ahead with the capital investment to build a new memory chip production line without joint venture partner Western Digital Corp as the two failed to reach an agreement about the investment. The Japanese company said it has increased the amount of capital investment in the Fab 6 production line to 195 billion...

  • President Donald Trump to stand up to China as he prepares to launch an inquiry into Beijing's intellectual property and trade practices in coming days. Senators Ron Wyden of Oregon and Sherrod Brown of Ohio also urged Trump to rein in China. Tensions between Washington and Beijing have escalated in recent months as Trump has pressed China to cut steel...

  • Shares of Restaurant Brands, which also owns Tim Hortons and Popeyes Louisiana Kitchen, rose as much as 2.8 percent to C $76.28 on Wednesday. Tim Hortons and Popeyes Louisiana Kitchen, which is popular for its southern fried chicken, also reported an overall rise in sales. The company also said it had signed a joint venture deal to launch Tim Hortons in Spain.

  • *Announces third share buyback worth up to $2 billion. HONG KONG/ LONDON, July 31- HSBC Holdings PLC on Monday said profit grew 5 percent in the six months through June and announced its third share buyback in a year, indicating continued progress in the six-year turnaround plan of Europe's biggest bank. The bank's Chief Executive Officer Stuart Gulliver and...