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Japan’s Honda ties up with ride-hailing service Grab
Southeast Asian ride-hailing service Grab disclosed on Monday that Japan's Honda Motor Co had invested in the firm, as part of a $750 million funding announced previously, to collaborate on motorbike-hailing services. … Read more here: Japan’s Honda ties up with ride-hailing service Grab Read More →
France’s Amundi to buy Pioneer from UniCredit for $3.75 billion
French fund management company Amundi is to buy asset manager Pioneer from Italian bank UniCredit for 3.55 billion euros ($3.75 billion), and will finance the deal with a debt and equity issue. The deal is one of various disposals being pursued… Read the original post: France’s Amundi to buy Pioneer from UniCredit for $3.75 billion Read More →
OPEC, U.S. begin ‘cat and mouse’ oil game as producers pounce on hedges
LONDON/NEW YORK (Reuters) – As far as one of the world’s biggest commodities traders, Glencore’s chief Ivan Glasenberg, is concerned, the oil market will be at the mercy of “a cat and mouse game” between OPEC and its U.S. shale rivals in the coming year. A 16 percent price rally over the past week has delivered U.S. frackers a golden opportunity to hedge – or sell forward... [Read more]
Exclusive: In mammoth task, BP sends almost three million barrels of U.S. oil to Asia
Oil major BP is shipping almost three million barrels of U.S. crude to customers across Asia, pioneering a lengthy and complex operation likely to become more popular after OPEC last week announced deep production cuts. BP's efforts, involving one of the world's longest sea routes, seven tankers and a series of ship-to-ship transfers, underscore a desire among oil traders to develop new... [Read more]
UTC CEO says no ‘quid pro quo’ on keeping Indiana plant open
By David Shepardson WASHINGTON (Reuters) – United Technologies Corp , parent company of Carrier Corp, got a “good deal” with President-elect Donald Trump that allowed it to shift most jobs at two Indiana plants to Mexico, its chief executive said on Monday in an interview with CNBC. Greg Hayes, chief executive of UTC, said Trump did not make threats in negotiations over the plant's... [Read more]
No price like home: Big spenders reappear in China
SHANGHAI/BEIJING (Reuters) – China's wealthiest shoppers are spending at home again, roused from a three-year slumber by a weaker yuan, lower prices and a crackdown on overseas sales agents – a welcome boost for the world's luxury brands. China's rich make up almost a third of the world's luxury shoppers, up from only 2 percent around the … See the original post... [Read more]
Wal-Mart to settle U.S. lawsuit over benefits for same-sex spouses
Wal-Mart and lawyers for Jacqueline Cote, the worker who filed the 2015 lawsuit in federal court in Boston, said in a court filing that the money may be split among more than 1,000 people who were denied spousal benefits between 2011 … Continued here: Wal-Mart to settle U.S. lawsuit over benefits for same-sex spouses Read More →
U.S. jobless rate falls to nine-year low, payrolls rise
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. unemployment rate fell to a nine-year low of 4.6 percent in November, as employers added another 178,000 jobs, making it almost certain that the Federal Reserve will raise interest rates later this month. The unemployment rate hit its lowest level since August 2007 because more people found work but also because the labor force shrank as more... [Read more]
Trump’s dilemma: slower job growth or rising rates and inflation?
A drop in the U.S. unemployment rate last month to a 9-year low signals the risk of a collision between President-elect Donald Trump's plans to goose the economy and the Federal Reserve's efforts to… Read more from the original source: Trump’s dilemma: slower job growth or rising rates and inflation? Read More →
Lower food prices weigh on Kroger’s profit forecast
(Reuters) – Kroger Co , the biggest U.S. supermarket chain, lowered the higher end of its full-year adjusted profit forecast amid falling food prices and increasing competition from rivals such Read the rest here: Lower food prices weigh on Kroger’s profit forecast Read More →