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TransCanada restarts Keystone pipeline at reduced pressure
The Canadian energy company said the U.S. Pipeline and Hazardous Materials Safety Administration approved the return to service plan for a controlled start Saturday evening. “As part of the return-to-service plan approved by PHMSA, TransCanada is operating the pipeline at reduced pressure,” the company said in Excerpt from: TransCanada restarts Keystone pipeline at reduced pressure Read More →
Exclusive: Bank of Italy conducting supervisory inspection at Bank of China offices
By Lisa Jucca HONG KONG (Reuters) – The Bank of Italy is carrying out an on-site inspection at the Italian offices of Bank of China Ltd , a Chinese state-owned bank already facing accusations of aiding illicit money flows from Italy to China, a source familiar with the situation said. Italian prosecutors are seeking to bring 297 people, mostly Chinese, as well as the Milan branch of Bank of... [Read more]
IMF supports move to negative rates by some central banks
The International Monetary Fund said on Sunday that a move to negative rates by some of the world's central banks would help deliver extra monetary stimulus and ease lending conditions. Six of the world's central banks have introduced negative rates, most notably the Bank of Japan and the European Central Bank, and around a quarter of the world economy by output is now experiencing official... [Read more]
Marriott, Starwood Hotels stockholders approve deal
Holders of more than 97 percent of Marriott shares and over 95 percent of Starwood shares voted in favor of the cash-and-stock deal, which was valued at $12.41 billion as of Thursday. China's Anbang Insurance Group Co last week abandoned its $14 billion offer for Starwood Hotels, Read more from the original source: Marriott, Starwood Hotels stockholders approve deal Read More →
U.S. job market firming despite anemic economic growth
The number of Americans filing for unemployment benefits fell more than expected last week, suggesting the labor market continued to strengthen despite tepid economic growth. Initial claims for state unemployment benefits declined 9,000 to a seasonally adjusted 267,000 for the week ended … Read the original: U.S. job market firming despite anemic economic growth Read More →
Yellen, alongside Fed alum, says rate hikes on track
The U.S. economy is on a solid course with some hints of inflation so the Federal Reserve is on track for further interest rate hikes, Federal Reserve Chair Janet Yellen said on Thursday in a defense of her decision to tighten Original post: Yellen, alongside Fed alum, says rate hikes on track Read More →
Fiat Chrysler cuts 1,300 workers in Michigan, scraps shift
By Bernie Woodall DETROIT (Reuters) – Fiat Chrysler Automobiles said on Wednesday it is laying off about 1,300 workers indefinitely and ending one of the two shifts at its Sterling Heights, Michigan plant that makes the slow-selling midsize Chrysler 200 sedan. U.S. sales of the Chrysler 200 were down 63 percent in the first three months of this year from a year earlier, as FCA has de-emphasized... [Read more]
U.S. weakens retirement advice rule, responding to industry
By Suzanne Barlyn and Lisa Lambert WASHINGTON (Reuters) – A new U.S. rule aimed at protecting retirement savers from profit-hungry brokers turned out to be much weaker than an initial proposal after the Obama administration bowed to pressure from the financial services… Read the original: U.S. weakens retirement advice rule, responding to industry Read More →
Pfizer, Allergan scrap $160 billion deal after U.S. tax rule change
U.S. drugmaker Pfizer Inc and Ireland-based Allergan Plc walked away from their $160 billion merger on Wednesday, a major win for President Barack Obama, who has been pushing to curb deals in which companies move overseas to cut taxes. Pfizer said the decision was driven by new U.S. Treasury rules aimed at such deals, called inversions. The merger would have allowed New York-based Pfizer See original... [Read more]
Blackstone denies seeking to acquire Brazil mall operator
Investment firm Blackstone Group LP on Sunday said it is not considering an acquisition of Brazilian shopping mall operator BR Malls Participacoes SA , denying a report published early in the day by newspaper O Globo. “We are not actively engaged in acquisition discussions for BR Malls,” Blackstone said in an emailed statement. The Brazilian newspaper, without citing sources for its information,... [Read more]