Breaking business news for August 8, 2017

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Tuesday, August 8, 2017

Time Inc misses revenue estimates as advertising sales slip

(Reuters) - Time Inc , the publisher of Fortune, People and Time magazines, reported a lower-than-expected quarterly revenue on Tuesday, hurt by declines in magazine sales and advertising revenue.

World stocks shrug off slowing China trade growth to hit record

LONDON (Reuters) - Global stocks inched up to a new record high on Tuesday, shrugging off weaker-than-expected Chinese trade data that clouded an otherwise bright outlook for global growth.

Google fires employee behind anti-diversity memo

(Reuters) - Internet giant Google has fired the male engineer at the center of an uproar in Silicon Valley over the past week after he authored an internal memo asserting there are biological causes behind gender inequality in the tech industry.

Envision to sell ambulance business to KKR in $2.4 billion deal

(Reuters) - Envision Healthcare Corp said on Tuesday it would sell its ambulance business to buyout firm KKR & Co in an all-cash deal valued at $2.4 billion as it sharpens its focus on its core businesses.

Exclusive: British banks' turnaround plans frustrated by U.S. justice delays

LONDON (Reuters) - Legal and investigative delays at the U.S. Department of Justice are thwarting efforts by three of Britain's biggest banks to rehabilitate themselves after the global financial crash and other problems, the banks' chief executives have said.

Ralph Lauren's quarterly results beat on lower discounting

(Reuters) - Ralph Lauren Corp reported better-than-expected quarterly profit and sales as the luxury apparel maker kept a tight leash on discounting and inventory, sending its shares up 5 percent in premarket trading.

Exclusive: Toshiba auditor to split opinion on finances, governance - sources

TOKYO (Reuters) - The auditor for Toshiba Corp is likely to sign off on the conglomerate's annual results while giving a thumbs down on the group's corporate governance during a series of crises, people with direct knowledge of the discussions said on Tuesday.

Michael Kors lifts revenue forecast, shares soar

(Reuters) - U.S. fashion accessories maker Michael Kors Holdings Ltd posted a better-than-expected quarterly profit and revenue on Tuesday and lifted its annual revenue forecast.

Autonomous cars race narrows on doubts about clear path to profit

FRANKFURT/DETROIT (Reuters) - BMW and Daimler, the world's top luxury carmakers, have announced alliances with suppliers, talking up the virtues of having a bigger pool of engineers to develop a self-driving car.

Baker Hughes clinches integrated services contract for PNG gas field

LONDON (Reuters) - Baker Hughes, now part of General Electric , has won a major contract to provide a wide range of services to develop Papua New Guinea's first offshore gas field which is sees as a new model to help producers adapt to a world of low oil prices.

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