Breaking business news for August 14, 2017

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Monday, August 14, 2017

Merck CEO resigns from Trump's manufacturing council

(Reuters) - Merck & Co Inc said its chief executive, Kenneth Frasier, was resigning from U.S. President Donald Trump's American Manufacturing Council, following the recent events in Charlottesville, Virginia.

World shares, dollar rise after week of North Korea-driven losses

LONDON (Reuters) - World stocks rose on Monday, recovering some of their poise after fears of a U.S.-North Korea nuclear standoff drove them to the biggest weekly losses of 2017, while the dollar too rose off four-month lows it had hit against the yen.

Wall Street set to open higher as North Korea tension eases

(Reuters) - Wall Street was set to open higher on Monday as tensions on the Korean peninsula eased slightly after key U.S. officials played down the risk of an imminent war with North Korea.

China a sweet spot for U.S. companies’ earnings in second-quarter

SHANGHAI (Reuters) - Trade tensions between Washington and Beijing may be running high but Corporate America is finding China to be a reliable source of profit growth this year.

Exclusive: Arab bloc won't discriminate against U.S. firms in Qatar rift - sources

DUBAI (Reuters) - Four Arab countries that imposed sanctions on Qatar have told the United States that U.S. companies doing business with them would not be punished for also working with Doha, four sources with knowledge of the matter said.

China's Fosun, Shanghai Pharma say bid for stake in U.S. drugmaker Arbor

HONG KONG (Reuters) - A unit of China's Fosun Group and Shanghai Pharmaceuticals Holding Co are among bidders for a stake in U.S. speciality drugmaker Arbor Pharmaceuticals LLC, the companies said on Monday.

Aldi enters grocery delivery in partnership with Instacart

CHICAGO (Reuters) - German grocery chain Aldi Inc [ALDIEI.UL] said on Sunday it has partnered with Instacart Inc to deliver groceries in three U.S. cities, a move that comes amid intense competition and disruption in the industry.

Uber improves conditions for British drivers, adds tips

LONDON (Reuters) - Taxi app Uber will improve conditions for its British drivers with changes including in-app tipping, after criticism from lawmakers and unions for not giving them more rights.

Oil prices slip on Chinese demand concerns, rising U.S. activity

AMSTERDAM (Reuters) - Oil prices fell on Monday as a slowdown in Chinese refining raised concerns about demand in the world's second-biggest consumer, while an increase in U.S. drilling capacity could deepen a global supply glut.

Philippines suspends Uber operations for one month

MANILA (Reuters) - The Philippines on Monday suspended the accreditation and operation of Uber [UBER.UL] for one month, in a decision that followed a government crackdown on unregistered drivers offering app-based ride-hailing services.

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