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Pennsylvania Democrats raise concerns over CP’s Norfolk Southern bid
Democrats from Pennsylvania's congressional delegation sent a letter to a federal rail regulator on Monday raising concerns over the possible negative impacts of a merger between Canadian Pacific and Norfolk Southern Corp. The letter sent to the Surface Transportation Board raised concerns over the impact it could have on railroad jobs in Pennsylvania and said the merger could lead to “disinvestment”... [Read more]
Nokia-Samsung patent verdict expected within days
Nokia and Samsung are expected to settle their two-year patent dispute within days, with analysts forecasting a one-time payment of hundreds of millions of euros for the Finnish company. Nokia entered into a binding arbitration with South Korea's Samsung in 2013 to settle additional compensations for a five-year period starting from early 2014. The International Chamber of Commerce's arbitration... [Read more]
Fed’s Williams says sees ‘smidgen’ slower rate hikes
The Federal Reserve probably needs to keep U.S. interest rates lower for longer given headwinds from weak global economic growth, a stronger dollar and an unexpectedly sustained drop in oil prices, a top Fed official suggested on Friday. San Francisco Federal Reserve Bank President John Williams told … Read more here: Fed’s Williams says sees ‘smidgen’ slower rate hikes Read More →
Boeing 737 MAX jet successfully completes first flight
The plane is the fourth version of the original 737, which made its first flight in 1967 and has become one of Boeing's most profitable aircraft. The 737 MAX features new engines from CFM International, a joint venture of General Electric and Safran SA of France , and other refinements that improve fuel efficiency by 14 percent compared with… Read the original here: Boeing 737 MAX jet successfully... [Read more]
EBay’s disappointing forecast fuels stock decline
EBay Inc forecast weaker-than-expected revenue and profit for the current quarter and full year, as the e-commerce company struggles against a strong dollar while trying to revamp its core marketplace business. The online retailer, which faces intense competition from e-commerce giant Amazon.com Inc, has also been hit by brick-and-mortar rivals like Wal-Mart Stores Inc that are aggressively boosting... [Read more]
In U.S. oil capital Houston, no cheap fuel bonanza for airlines
While airlines are in no rush to pass on fuel savings to passengers brought by the collapse in oil prices, the Houston travel market has left them little choice. Airlines serving the U.S. oil capital have resorted to steep discounts to lure newly budget-conscious energy executives back into the air, according to an analysis of ticket prices provided exclusively to Reuters. Crude' Original post: In... [Read more]
DuPont doubles down on cost cuts ahead of Dow Chemical merger
(Reuters) – Chemicals and seed producer DuPont's quarterly profit topped analysts' estimates as the company intensifies its cost-cutting efforts ahead of its merger with Dow Chemical Co . DuPont said on Tuesday it was looking to cut its costs in 2016 by $730 million from 2015-levels. The company's previous cost-reduction plan, launched under former CEO Originally posted here: DuPont... [Read more]
Energy earnings will hint at who survives crude’s rout
By Rodrigo Campos NEW YORK (Reuters) – As crude prices crater, threatening a sizeable number of U.S. oil producers who are predicted to fail under continued global oil doom, the current earnings season will be an important window into who will be standing … The rest is here: Energy earnings will hint at who survives crude’s rout Read More →
Crude extends gains after surge on short-covering, cold spell
Oil prices soared 10 percent on Friday, one of the biggest daily rallies ever, as bearish traders who had taken out record short positions scrambled to close them, betting the market's long rout may finally be over. “Low crude oil prices continue to negatively impact high cost U.S. oil producers. A massive snowstorm on the U.S. East Coast helped stoke demand for oil for heating, helping See... [Read more]
Toshiba to sell part of its chip operations: sources
Japan's Toshiba Corp plans to sell part of its chip business as it aims to recover from a $1.3 billion accounting scandal, three people familiar with the matter told Reuters on Saturday. The electronics conglomerate has started accepting bids, with Originally posted here: Toshiba to sell part of its chip operations: sources Read More →