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U.S. consumer, housing data underscore economy’s resilience
There are, however, signs the malaise from manufacturing and export-oriented industries is starting to filter into the services sector, with data on Tuesday showing activity in that vast sector hit a one-year low in January. The Conference Board said its consumer confidence index rose to 98.1 this month from 96.3 in December as … Originally posted here: U.S. consumer, housing data underscore... [Read more]
Iran marks comeback with talks to buy 160 European planes
By Tim Hepher TEHRAN (Reuters) – Iran unveiled an expanded shopping list for more than 160 European planes – including 8 superjumbos – and dangled another big order in front of Boeing at Tehran's first major post-sanctions business gathering on Sunday. In a sign of Tehran's determination to compete with established … Read the original: Iran marks comeback with talks... [Read more]
Siemens to buy CD-adapco for close to $1 billion: source
Siemens AG , Europe's biggest industrial group, has agreed to buy CD-adapco, a privately held U.S. engineering software firm, for close to $1 billion in cash, according to a person familiar with the matter. Siemens's deal with CD-adapco could be announced as early Continued here: Siemens to buy CD-adapco for close to $1 billion: source Read More →
Google to pay $185 million UK back taxes, critics want more
Google has agreed to pay 130 million pounds ($185 million) in back taxes to Britain, prompting criticism from opposition lawmakers and campaigners who said the “derisory” figure smacked of a “sweetheart deal”. Google, now part of Alphabet Inc , has been under pressure in recent years over its practice of channeling most profits from European clients through Ireland to Bermuda,... [Read more]
AmEx to cut $1 billion in costs by end of 2017
(Reuters) – Credit card issuer American Express Co said it would cut $1 billion in costs by the end of 2017 as it responds to intensifying competition in the payments industry. AmEx's shares fell 4.1 percent to $60.05 in extended trading on Thursday, after the company reported its fourth straight decline in More here: AmEx to cut $1 billion in costs by end of 2017 Read More →
Apple seeks India government approval to set up retail stores
MUMBAI (Reuters) – Apple Inc has filed an application with the Indian government to set up its retail outlets in one of the fastest-growing smartphone markets, a spokesman for the Cupertino Read more here: Apple seeks India government approval to set up retail stores Read More →
Oil sinks again on glut as U.S. crude hits new lows
Oil futures fell further on Wednesday, with U.S. crude touching its lowest since 2003, as a global supply glut bumped up against bearish financial news that sparked deeper worries over demand. U.S. crude oil dropped more than 4 percent in early trading, falling to as far as $27.32 a barrel. “You need the See the original post here: Oil sinks again on glut as U.S. crude hits new lows Read More →
As world markets drop, Fed officials try to shake it off
SOMERSET, N.J./SAN FRANCISCO (Reuters) – As U.S. stock indexes dropped in volatile trading and oil crashed below $30 a barrel on Friday, Federal Reserve officials stuck to a well-worn script: day-to-day financial market swings do not drive monetary policy. At the same time… Original post: As world markets drop, Fed officials try to shake it off Read More →
Citigroup, Wells Fargo gird for loan losses as oil price dives
Wells Fargo & Co raised provisions against soured assets by more than 70 percent, nearly half of them for oil and gas loans, to ensure it is covered should prices stay at current levels for the rest of the year. The San Francisco-based bank, a major lender to the U.S. energy industry, said it and other banks were talking to borrowers, including production companies and oil services firms, about... [Read more]
Raft of weak U.S. data points to sharply slower growth
By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales fell in December as unseasonably warm weather undercut purchases of winter apparel and cheaper gasoline weighed on receipts at service stations, the latest indication that economic growth braked sharply in the fourth quarter. The growth picture was further darkened by other data on Friday showing industrial production fell in December,... [Read more]