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Lockheed F-35 jet cost could drop 16 percent: Pentagon official

The cost of Lockheed Martin Corp's stealthy F-35 jet could fall 16 percent to around $80 million in future purchases, according to the Department of Defense's head of the program. Lieutenant General Chris Bogdan, who runs the F-35 program for the Pentagon, gave his new estimate for the future cost of the jet while speaking to the U.S House of Representatives at a Capitol Hill hearing on Thursday. President Donald Trump and other U.S. officials have criticized the Pentagon's most expensive program for delays and cost overruns, but the price per jet has steadily declined in recent years as production ramps up.

Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 6:27 am(NZT)

Snap lowers valuation expectations in highly awaited IPO

Snap Inc, owner of the popular messaging app Snapchat, on Thursday set a lower-than-expected valuation for itself amid mounting investor concerns over the company's still unproven business model, slowing metrics and tight founder control. The company, which filed for an initial public offering earlier this month, was widely expected to be valued at between $20 billion and $25 billion but fell short by targeting a valuation between $19.5 billion and $22.3 billion ahead of its marketing road show, due to start on Monday in London.

Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 6:05 am(NZT)

GM tries to reassure UK, Germany over Peugeot-Opel talks

By Pamela Barbaglia and Ilona Wissenbach LONDON/FRANKFURT (Reuters) - General Motors has played down the possibility of large-scale factory closures in Germany and Britain following any deal to sell its European brands to Peugeot maker PSA Group , according to officials in both countries. News of the talks between the two automakers earlier this week sparked particular concern in Germany and Britain, where Opel and Vauxhall employ thousands of workers.

Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 6:02 am(NZT)

Wall Street record rally falters as banks, health stocks weigh

The six-day streak was sparked a week back by President Donald Trump's vow of a 'phenomenal' tax announcement, and fueled by optimism that his plans for corporate deregulation will expand the economy.

Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 5:28 am(NZT)

U.S. housing starts fall; building permits hit one-year high

U.S. homebuilding fell in January as the construction of multi-family housing projects dropped, but upward revisions to the prior month's data and a jump in permits to a one-year high suggested the housing recovery remained on track. Factory activity in the mid-Atlantic region vaulted to a 33-year high in February and the number of new applications for unemployment benefits was less than expected last week. "There is not much to complain about the economy as housing and manufacturing are improving and the labor market remains tight.

Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 5:26 am(NZT)

Why the Nokia 3310 reboot will struggle to do the original justice

HMD Global's reported reboot of the Nokia 3310 at this month's Mobile World Congress could be a welcome relief in a crowded market, but the company will find it hard to stick to the phone's original concept in today's climate.

Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 5:06 am(NZT)

Exclusive: Big U.S. banks to push for easing of money laundering rules

By Joel Schectman, Karen Freifeld and Brett Wolf WASHINGTON/NEW YORK (Reuters) - America's largest banks are to propose a complete overhaul of how financial institutions investigate and report potential criminal activity, arguing that rules imposed in the years after the Sept. 11, 2001 attacks and strengthened during the Obama administration are onerous and ineffective, sources said. The Clearing House, a trade association representing the largest U.S. banks including JPMorgan Chase & Co , Bank of America and Citigroup , has long raised concerns about the effectiveness of the current rules, but this will be the first time the group has publicly called for them to be revamped. The proposal, which could be published as soon as Thursday, will set the stage for an intensive lobbying effort targeting bank regulators and members of the Senate and House of Representatives finance committees.

Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 4:49 am(NZT)

Verizon acquires Skyward, aims to manage drone operations, connections

Verizon's purchase of Skyward signals how the telecom giant sees drones as a key part of its fast-growing Internet of things business unit.

Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 4:36 am(NZT)

Microsoft tries again to tackle healthcare with new services, tools

Microsoft is trying again to tackle the healthcare market with a concerted strategy involving artificial intelligence, productivity tools, and partnerships.

Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 4:30 am(NZT)

JPMorgan moving mortgages online to please paper-weary customers

JPMorgan Chase & Co is gradually introducing a digital mortgage platform where customers can apply online and track applications by mobile phone. The tools will allow customers to submit and sign documents online and exchange messages with bank staff and real-estate agents so loans can close more quickly and easily, consumer mortgage chief Mike Weinbach said in an interview. "This platform will allow us to be where more of our customers are, which is online and on their phones," Weinbach said.

Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 4:09 am(NZT)

Microsoft's AI system for training autonomous cars and drones goes open source

Microsoft's AirSim is a platform for researchers to work with technologies like deep learning and computer vision to improve the operation of autonomous vehicles.

Source: Business News Headlines - Yahoo! News | 17 Feb 2017 | 3:47 am(NZT)

Deutsche Boerse CEO denies insider trading allegations

By Edward Taylor FRANKFURT (Reuters) - The head of Deutsche Boerse said insider trading allegations against him were unfounded, pointing out that he did not determine the timing of his share purchases ahead of the announcement of merger plans with the London Stock Exchange (LSE) . "Insider trading is against my innermost conviction," Deutsche Boerse Chief Executive Carsten Kengeter told a news conference, adding that he and the German company were cooperating fully with the public prosecutor. German prosecutors are examining whether a share purchase plan for Kengeter was created at a time when Deutsche Boerse was aware that a merger with the LSE was likely.