Reuters: Business News 9 April 2018

Zuckerberg faces Senate hearing but little hope for action

WASHINGTON (Reuters) - Facebook Chief Executive Mark Zuckerberg's No. 1 mission during his appearance before U.S. lawmakers on Tuesday and Wednesday will be to defend against calls to regulate internet-based companies.

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Asian shares pressured as Wall Street ends off highs, focus on Xi speech

SINGAPORE (Reuters) - Asian shares edged lower on Tuesday as Wall Street retreated from its highs after the FBI raided the offices of U.S. President Donald Trump's long time lawyer, dampening risk appetite already under strain from an escalating U.S.-China trade spat.

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Zuckerberg ditches T-shirt, apologizes for Facebook mistakes

WASHINGTON (Reuters) - Facebook Inc Chief Executive Mark Zuckerberg swapped his trademark T-shirt and jeans for a dark suit and a purple tie on Monday as he met U.S. lawmakers to apologize for the social network's misuse of its members' data and to head off possible regulation.

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NTSB chairman, Tesla CEO talk after fatal 'Autopilot' crash

(Reuters) - The chairman of the National Transportation Safety Board and Tesla Inc Chief Executive Elon Musk had a "constructive conversation" on the agency's probe into a fatal crash involving a Tesla vehicle that was operating in semi-autonomous Autopilot mode, the agency said on Monday.

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Bayer reaches deal with U.S. for approval to buy Monsanto - WSJ

(Reuters) - The U.S. Justice Department will allow German drugs and pesticides group Bayer AG to acquire Monsanto Co in a $62.5 billion deal, after the companies agreed to sell more assets to win antitrust approval, the Wall Street Journal reported https://on.wsj.com/2GKhEGh on Monday.

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Exclusive: U.S. watchdog seeks record fine against Wells Fargo for abuses - sources

WASHINGTON (Reuters) - The top U.S. watchdog for consumer finance is seeking a record fine against Wells Fargo & Co that could exceed several hundred million dollars for auto insurance and mortgage lending abuses, according to three sources with knowledge of the plans.

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China blames U.S for trade frictions, but Trump voices optimism

BOAO, China/WASHINGTON (Reuters) - China stepped up its attacks on the Trump administration on Monday over billions of dollars worth of threatened tariffs, but U.S. President Donald Trump again voiced optimism the two sides would hammer out a trade deal.

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Viacom asks CBS to raise its bid by $2.8 billion: sources

(Reuters) - Viacom Inc has asked CBS Corp to sweeten its merger bid by about $2.8 billion, or almost a quarter more than CBS's offer, three people familiar with the matter said, indicating the wide gap in the U.S. media companies' price expectations.

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U.S. airline industry boasts overall improvements: study

NEW YORK (Reuters) - Despite a steady stream of headlines highlighting U.S. airlines' customer-service failures, carriers have actually improved in several key areas over the last year, including bumping fewer passengers and losing less baggage, according to a study released on Monday.

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South Korean pension fund stops trading with Samsung Securities after fat finger error

SEOUL (Reuters) - South Korea's biggest pension fund said on Tuesday it stopped trading stocks through Samsung Securities Co Ltd after fat finger error resulted in the accidental issuance of 2.8 billion shares to employees.

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