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Oil ends up 3 percentt as OPEC meets; volatility hits post-Doha high
NEW YORK/LONDON (Reuters) – Oil settled up 3 percent on Monday as the world's largest producers gathered in Algeria to discuss ways to support prices, with nervous trade driving volatility to its highest since a similar meeting to freeze output in April in Doha which failed. The Organization of the… Originally posted here: Oil ends up 3 percentt as OPEC meets; volatility hits post-Doha... [Read more]
China’s Dalian Wanda opens $5.1 billion tourism park
By Alexandra Harney SHANGHAI (Reuters) – Dalian Wanda Group, the Chinese entertainment giant owned by the country's richest man, opened the first phase of a sprawling 34 billion yuan ($5.1 billion) tourism park in the eastern city of Hefei on Saturday. Wanda is building Read the original: China’s Dalian Wanda opens $5.1 billion tourism park Read More →
Twitter begins discussions to explore a sale: source
A sale of Twitter has been the subject of on-again, off-again rumors for many months as the company grapples with stagnant user growth, soft advertising sales and losses running at hundreds of millions of dollars a year. Analysts have long considered Alphabet's Google the most likely buyer for Twitter, and a source told Reuters that Salesforce.com is also in pursuit. CNBC, citing anonymous sources,... [Read more]
Ex-President George W. Bush dips toe into U.S. trade debate
By David Lawder DALLAS (Reuters) – Former U.S. President George W. Bush on Tuesday entered the debate over the Trans-Pacific Partnership, hosting a forum at his presidential library extolling his successor's Asian free trade deal. Bush, who signed several such accords during his two terms in office, met with U.S. Trade Representative Michael Froman before the event to promote the strategic... [Read more]
All Hanjin Shipping chartered vessels to be returned to owners after unloading: judge
All Hanjin Shipping Co Ltd chartered vessels that have completed unloading their cargo have been told to cancel their charter agreements and return the ships to the shipowners, a South Korean judge said on Monday. Some vessels have also been seized and some sold. The company had a total of 141 vessels, including 97 container ships as of early September. The rest is here: All Hanjin Shipping chartered... [Read more]
Bayer in $66 billion bet that farmers will back linked-up supplies
Bayer's $66 billion purchase of Monsanto amounts to a long-term bet that farmers will grow to trust combinations of seeds and pesticides rather than continue to pick from ranges of separate products. Some farmers, though, are … More here: Bayer in $66 billion bet that farmers will back linked-up supplies Read More →
Wells Fargo faces proposed class action over bogus accounts
Wells Fargo & Co, embroiled in a scandal over the opening of sham accounts, was sued on Friday by customers who accused the bank of fraud and recklessness for its behavior. The lawsuit was filed in the U.S. District Court in Utah, and seeks class-action status on behalf View post: Wells Fargo faces proposed class action over bogus accounts Read More →
U.S. inflation stirring as healthcare, housing costs surge
U.S. consumer prices rose more than expected in August as healthcare costs recorded their biggest gain in 32-1/2 years, pointing to a steady build-up of inflation that could allow the Federal Reserve to raise interest Original post: U.S. inflation stirring as healthcare, housing costs surge Read More →
Samsung to replace or refund 1 million U.S. Galaxy Note 7 phones
Samsung received 92 reports of batteries overheating in the United States, including 26 reports of burns and 55 cases of property damage, the company said as it announced the recall in cooperation with the U.S. Consumer Product Safety Commission (CPSC). The recall is a costly setback for Samsung, which was counting on Galaxy Note 7 to bolster sales as rivals such as Apple Inc launch new devices. The... [Read more]
Tesla says it is investigating cause of fatal China crash
China's CCTV on Wednesday reported 23-year-old Gao Yaning died in January after crashing into the back of a road sweeping vehicle while driving a Tesla car on a highway in the northeastern province of Hebei. See the original post: Tesla says it is investigating cause of fatal China crash Read More →