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Marriott to buy Starwood to create world’s biggest hotel chain
The combined company will have over 5,500 hotels with 1.1 million rooms worldwide, giving Marriott greater presence in markets such as Europe, Latin America and Asia and allowing it to better compete with apartment-sharing startups such as Airbnb. About three-quarters of Marriott's rooms are in the United States. Markets outside North America had about half of Starwood's rooms, but accounted... [Read more]
Exclusive: Commodity trader Cargill restructures, cuts jobs – sources
By Sarah McFarlane LONDON (Reuters) – Cargill Inc [CARG.UL], one of the world's largest privately held corporations, has launched a restructuring that includes job cuts, one company source and four industry sources said on Friday, the latest casualty of a downturn in the farm economy. The 150-year-old company, a top commodities trader, is also closing offices, two of the industry sources... [Read more]
Exclusive: French compromise snubbed as Renault-Nissan pursues shake-up – sources
France has offered to limit its voting rights at Renault in a bid to end its power struggle with the carmaker and partner Nissan, but their combined CEO Carlos Ghosn remains determined to push through changes that would give the Japanese company… Go here to see the original: Exclusive: French compromise snubbed as Renault-Nissan pursues shake-up – sources Read More →
D.R. Horton’s profit surges as home sales jump
U.S. homebuilder sentiment hit decade highs in July, August and September as traffic from potential buyers gained ground, according to data from the National Association of Home Builders. Shares of D.R. Horton, which sells homes under the D.R. Horton, America's Builder, Express Homes and Emerald Homes brands, rose 2.5 More here: D.R. Horton’s profit surges as home sales jump Read More →
Dubai Airshow opens amid drop in new jetliner orders
After three years of record jetliner orders, planemakers are bracing for a slowdown in new commitments at the Dubai Airshow which opens on Sunday under the shadow of recently falling oil prices and conflicts in the Middle East. Barring traditional show surprises, delegates attending the biennial Nov 8-12 event predicted a drop in major commercial order announcements as Gulf airlines take stock after... [Read more]
Greece approves reform bill, eyes bailout tranche
Greece's parliament approved early Friday a bill with reforms prescribed by the country's international lenders, ahead of a euro zone finance ministers meeting in three days which will decide if Athens qualifies for fresh bailout funds. Greece needs to legislate a series of reforms to pass the first review of a new bailout worth up to 86 billion euros it signed up to earlier this year. It... [Read more]
United Airlines CEO to return in early 2016 after heart attack
The news ends uncertainty about who will run United, the second-largest U.S. airline by capacity. The company earlier appointed General Counsel Brett Hart as acting CEO and said its board had been preparing for “all potential outcomes” Here is the original: United Airlines CEO to return in early 2016 after heart attack Read More →
ECB will do what is needed to keep inflation target on track: Draghi
By Stephen Jewkes MILAN (Reuters) – The European Central Bank (ECB) is ready to do what it takes to keep its medium-term inflation target on course, its head Mario Draghi said in a newspaper interview published on Saturday. Consumer prices in the 19-country euro zone slipped by 0.1 percent in September – far from the bank's aim of just below… More: ECB will do what is needed... [Read more]
China’s October factory, services surveys show economy still wobbly
Activity in China's manufacturing sector unexpectedly contracted in October for a third straight month, an official survey showed on Sunday, fuelling fears the economy may still be losing momentum in the fourth quarter despite a raft of stimulus measures. Adding to those concerns, China's services sector, which has been one of the few bright spots in the economy, also showed signs of cooling... [Read more]
U.S. retailers push banks to use PINs on credit cards as confusion reigns
By Jim Finkle BOSTON (Reuters) – Some big U.S. retailers are stepping up efforts to use personal identification numbers, or PINs, with new credit cards embedded with computer chips in a bid to prevent counterfeit card fraud. A small band Here is the original post: U.S. retailers push banks to use PINs on credit cards as confusion reigns Read More →