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Oil pares gains after Saudi, Russia sign pact
By Ahmad Ghaddar LONDON (Reuters) – Crude oil futures pared gains on Monday after top producers Russia and Saudi Arabia said they have agreed to cooperate on stabilizing the oil market, including limiting output. Saudi Arabia and Russia said on the sidelines of the G20 summit in China that they signed an agreement to set up a task force to review oil market fundamentals and to recommend measures... [Read more]
Obama seeks to convince Asian partners that Washington will approve TPP
U.S. President Barack Obama said on Monday that U.S. trading partners in Asia did not need to be persuaded of the benefits of the Trans-Pacific Partnership, just that Washington would eventually approve the trade pact. Obama has made the 12-nation TPP the centerpiece… Read the original: Obama seeks to convince Asian partners that Washington will approve TPP Read More →
Chinese consumers take credit for boom in car loans
By Jake Spring BEIJING (Reuters) – Chinese households, traditional savers with an aversion to debt, are rapidly warming to the idea of borrowing to buy a car, as automakers push financing deals to boost sales and margins in an increasingly competitive market. Originally posted here: Chinese consumers take credit for boom in car loans Read More →
Daimler plans at least six electric car models: source
German carmaker Daimler plans to roll out at least six, and possibly as many as nine, electric car models as part of its push to compete with Tesla and Volkswagen's Audi, a person familiar with Daimler's plans told Reuters. The maker of Mercedes-Benz cars remains on track to unveil a new electric car at the Paris Original post: Daimler plans at least six electric car models: source Read More →
U.S. private payrolls rise solidly; pending home sales jump
U.S. private employers maintained a steady pace of hiring in August and contracts to buy previously owned homes surged in July, suggesting the economy was regaining sufficient momentum for the Federal Reserve to raise interest rates this year. Other data on Wednesday … Go here to read the rest: U.S. private payrolls rise solidly; pending home sales jump Read More →
Japan government finds Mitsubishi overstated mileage for eight more models
Japan's transport ministry on Tuesday ordered Mitsubishi Motors Corp to stop domestic sales of eight vehicle models after an investigation found the automaker overstated their fuel economy, the second Originally posted here: Japan government finds Mitsubishi overstated mileage for eight more models Read More →
Oil prices rise on U.S. weather disruption, OPEC action speculation
Oil futures rose on Tuesday supported by production suspensions in the U.S. Gulf due to an expected tropical storm and speculation that producers meeting in Algeria next month will act to prop up prices. Brent crude futures were trading at $49.73 per barrel at 0924 GMT, up 47 cents from the previous close. U.S. West Texas Intermediate (WTI) crude was up 45 cents at $47.43 a barrel. Read the original... [Read more]
As Fed nears rate hikes, policymakers plan for ‘brave new world’
By Jason Lange and Ann Saphir JACKSON HOLE, Wyo. (Reuters) – Federal Reserve policymakers are signaling they could raise U.S. interest rates soon but they are already weighing new tools they may need to fight the next recession. A solid U.S. labor market “has strengthened” the case for the first rate increase since Here is the original post: As Fed nears rate hikes, policymakers... [Read more]
St. Jude says report by short sellers ‘false and misleading’
The report, which caused St. Jude shares to fall 5 percent after its release on Thursday, alleged there were significant security bugs in the company's Merlin@home device for monitoring implanted heart devices. St. Jude chief technology officer Phil Ebeling on Thursday said “the allegations are absolutely untrue” but provided no specific examples of errors. St. Jude on Friday said... [Read more]
Icahn denies attempt to sell Herbalife stock, buys more shares
Herbalife shares rose 4 percent in extended trading, reversing course after Icahn said he had bought 2.3 million shares on Friday. “Completely contrary to what Bill Ackman stated on television today, I have never given Jefferies an order to sell any of our Herbalife shares,” Icahn said in a statement after market close. Ackman, who unveiled a $1 billion short bet against Herbalife in 2012,... [Read more]