Reuters Business Today: May 12, 2017

Authentic news,No fake news.

World stocks retreat from record highs as valuations give cause for a pause LONDON (Reuters) - Global stocks paused near record highs as worries over China's banking system provided an excuse for investors to lock in some profits. The dollar was set for its best week of the year on bets the Federal Reserve will raise U.S. interest rates in June.

Futures slip with focus on retail sector (Reuters) - U.S. stock index futures were lower on Friday ahead of a barrage of economic data, including a report on retail sales that is closely watched by investors to gauge the strength of the economy.

Fiat Chrysler recalls 1.25 million trucks for software error WASHINGTON (Reuters) - Fiat Chrysler Automobiles NV said Friday it would recall more than 1.25 million pickup trucks worldwide to address a software error linked to reports of one crash death and two injuries.

U.S., China agree to first trade steps under 100-day plan WASHINGTON/BEIJING (Reuters) - The United States and China have agreed to take action by mid-July to increase access for U.S. financial firms and expand trade in beef and chicken among other steps as part of Washington's drive to cut its trade deficit with Beijing.

Top-10 Glaxo investor Woodford sells out, criticises board LONDON (Reuters) - British fund manager Neil Woodford said on Friday he had sold out of pharma company GlaxoSmithKline after a "frustrating" stint as an investor spanning more than 15 years.

GE's Immelt bets big on digital factories, shareholders are wary GROVE CITY, Penn. (Reuters) - At a General Electric Co factory in this rural town, Keith Spahn, 60, used to take measurements of parts from railroad locomotives that are in for repair by hand.

U.S. judge calls for criminal probe into trade secrets theft raised in Uber case SAN FRANCISCO (Reuters) - A U.S. judge on Thursday called for an investigation into allegations of trade secret theft that were raised in a court battle between Silicon Valley giants Uber [UBER.UL] and Alphabet over their rival self-driving car programs.

At G7, world finance chiefs are trying to gauge Trump's plans BARI, Italy (Reuters) - Finance chiefs from some of the world's richest nations began a two-day meeting in Italy on Friday, with Europe, Japan and Canada hoping to come away with a clearer picture of U.S. President Donald Trump's plans on important policies.

U.S. used-car glut is a dealer’s dream, automakers’ nightmare ORWELL, Ohio (Reuters) - Three years ago if a customer walked onto Dan Reel's used car lot seeking a late-model off-lease Ford Escape, his answer was short: tough luck.

South Korea orders major Hyundai, Kia recall after whistleblower report SEOUL (Reuters) - South Korea ordered Hyundai Motor Co and affiliate Kia Motors Corp to recall 240,000 vehicles over safety defects flagged by a whistleblower - a sharp slap on the wrist that will exacerbate reputational woes for the automakers.

Reuters Technology Report: May 12, 2017

Authentic news,No fake news.

Trump signs order aimed at upgrading government cyber defenses WASHINGTON (Reuters) - U.S. President Donald Trump signed an executive order on Thursday to bolster the government's cyber security and protect critical infrastructure from cyber attacks, marking his first significant action to address what he has called a top priority.

China's sharing app boom floods sidewalks with bicycles BEIJING (Reuters) - China's renewed love affair with the bicycle is proving a boon for mobile bike-sharing apps but is causing headaches by congesting city sidewalks.

Foreign business groups push for delay in controversial China cyber law BEIJING (Reuters) - Overseas business groups are pushing Chinese regulators to delay the June 1 implementation of a controversial cyber law that mandates strict data surveillance and storage for firms working in China, saying the rules would severely hurt business.

U.S. judge calls for criminal probe into trade secrets theft raised in Uber case SAN FRANCISCO (Reuters) - A U.S. judge on Thursday called for an investigation into allegations of trade secret theft that were raised in a court battle between Silicon Valley giants Uber [UBER.UL] and Alphabet over their rival self-driving car programs.

Thailand gives Facebook until Tuesday to remove 'illegal' content BANGKOK (Reuters) - Facebook Thailand could face legal action next week after Thai authorities warned Facebook Inc to take down content deemed threatening to national security or violating strict lese majeste laws, the telecoms regulator said on Friday.

Sprint, SoftBank start early deal talks over T-Mobile: BBG FRANKFURT (Reuters) - Sprint and its controlling shareholder SoftBank have started preliminary conversations to merge with T-Mobile US, Bloomberg reported on Friday, citing people familiar with the matter.

Samsung Electronics creates new contract chip manufacturing division SEOUL (Reuters) - Tech giant Samsung Electronics Co Ltd said on Friday it has formed a new division within its semiconductor business for contract chip manufacturing as the firm seeks to attract more customers.

Southeast Asia ride-hailing service Grab says open to more acquisitions PHNOM PENH (Reuters) - Singapore-headquartered Grab is open to further acquisitions after buying an Indonesian online payments startup, one of the co-founders of the Southeast Asia-focused ride hailing service said.

SoftBank investing $5 billion in China ride hailing firm Didi Chuxing TOKYO (Reuters) - SoftBank Group Corp said it has agreed to invest $5 billion in China's Didi Chuxing, confirming it led a recent fund-raising round by the ride-hailing firm that sources said valued Didi at more than $50 billion.

Japan's SoftBank invests $500 million in UK tech start-up Improbable LONDON (Reuters) - British technology start-up Improbable, which specializes in virtual simulation, has raised $502 million from Japan's SoftBank Group Corp, it said on Friday.