Nissan faces long, rocky road to cut U.S. discounts, rental sales

DETROIT/TOKYO (Reuters) - Nissan Motor Co Ltd said on Tuesday it had hit “rock bottom” with a 45% drop in annual operating profit. The automaker’s troubles in the United States, including a failure to deliver on a slew of promises to dealers, are a major reason why.

Nissan’s U.S. operations, once a big contributor to its international sales and profit, are now emblematic of its global challenges. Under ousted chairman Carlos Ghosn, Nissan’s U.S. operations gunned for ambitious sales goals by pitting dealers against each other in a battle for sales bonuses, and cranking up sales to fleets, dealers said.

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U.S. to take 'fresh look' at opening automakers' key spectrum band

WASHINGTON (Reuters) - The U.S. Federal Communications Commission plans to vote in June on launching a new review of a key spectrum band reserved for automakers that could boost Wi-Fi use, a person briefed on the matter said on Tuesday.

In 1999, the FCC reserved 75 megahertz of spectrum in the 5.9 GHz band for automakers to develop technology to allow vehicles to communicate with each other. Called Dedicated Short Range Communications (DSRC), the technology could eliminate hundreds of thousands of annual car crashes, automakers and regulators say.

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Google to push new ads on its apps to snare shoppers

SAN FRANCISCO (Reuters) - Whether you are Googling on the couch, fiddling with Maps in the car or swiping through the Discover feed on the toilet, expect Alphabet Inc’s Google to put ads in several new spots this year.

The search giant on Tuesday announced an expansion of its advertising real estate to boost revenue from mobile shoppers. It will feature ads on the homepage of its smartphone app worldwide, show more ads in Maps and place ads with image galleries in search results.

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Stocks bounce back as trade rhetoric cools

NEW YORK (Reuters) - U.S. stocks on Tuesday reclaimed some of the ground lost in the prior day’s steep sell-off, with tariff-sensitive technology stocks leading the S&P 500 and the Nasdaq higher as investors were heartened by a tonal shift in U.S.-China trade rhetoric.

All three major U.S. indexes closed in the black, although they pared gains late in the day and clawed back less than half of Monday’s losses, which were the largest one-day percentage drops in months. The bellwether S&P 500 remains nearly 4% below its all-time high reached two weeks ago.

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Disney takes control of Hulu to challenge Netflix, Amazon

(Reuters) - Walt Disney Co said it will take full control of the Hulu service in a deal with Comcast Corp, as it vies for a bigger piece of the global video streaming market dominated by companies such as Netflix Inc.

The agreement, which ascribes a minimum equity value to Hulu of $27.5 billion, allows either company to trigger a sale or purchase of Comcast’s 33% stake to Disney as early as January 2024. Comcast has also agreed to fund Hulu’s recent buyout of AT&T’s 9.5% interest in the company.

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U.S. Treasury chief to plan for trade meeting in China soon: spokesman

WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin will plan for another trade meeting in China at some point soon, a Treasury spokesman said on Tuesday, adding to President Donald Trump’s earlier statements that U.S. dialogue with Beijing was continuing.

Asked at a briefing whether Mnuchin was headed back to Beijing for more talks, the spokesman said: “As the secretary has indicated, the negotiations will continue. We do anticipate, as the secretary indicated yesterday, that we will plan for a meeting in China at some point soon.”

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Factbox: More Roundup trials, appeals in store for Bayer after $2 billion verdict

(Reuters) - Bayer shares continued to fall on Tuesday after a California jury on Monday awarded more than $2 billion in damages to a couple who alleged that the company’s glyphosate-based weed killer Roundup caused their cancers.

The third successive loss by Bayer in U.S. courts and highest award to date by a jury after finding glyphosate to be carcinogenic highlights the legal risks and mounting cost to the company of the burgeoning litigation it faces over its widely-used herbicide.

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Nissan earnings slide fuels Renault deal pressure

PARIS/TOKYO (Reuters) - Renault is quietly pushing for a change of Nissan leadership as a prelude to merger talks, sources at both companies said, after the Japanese carmaker warned of a further earnings slide in the wake of the Carlos Ghosn scandal.

Jean-Dominique Senard, who replaced Ghosn as Renault chairman in January, sees Nissan boss Hiroto Saikawa as an obstacle to progress, several people told Reuters.

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Oil prices rise over 1% on drone attack on Saudi Aramco facilities

NEW YORK (Reuters) - Oil prices rose over 1% on Tuesday after top exporter Saudi Arabia said explosive-laden drones launched by a Yemeni-armed movement aligned to Iran had attacked facilities belonging to state oil company Aramco.

That move higher comes as the market waits for a report from the American Petroleum Institute (API), an industry group, which is expected to show U.S. crude stockpiles fell by 800,000 barrels last week, their second decline in a row, according to analysts in a Reuters poll. [EIA/S]

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