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U.S. probes hit defunct energy co linked to Platinum Partners
At least four U.S. agencies are investigating former officials of a now-bankrupt oil and gas company once majority owned by troubled hedge fund manager Platinum Partners, according to a legal filing submitted … Go here to see the original: U.S. probes hit defunct energy co linked to Platinum Partners Read More →
Iran, Iraq at loggerheads with Saudis ahead of OPEC meeting
By Ahmad Ghaddar and Vladimir Soldatkin VIENNA (Reuters) – Iran and Iraq are resisting pressure from Saudi Arabia to curtail oil production, making it hard for the Organization of the Petroleum Exporting Countries to reach a deal to limit output and boost the price of crude when it meets on Wednesday. OPEC sources told Reuters a meeting of experts in Vienna on Monday failed to bridge differences... [Read more]
Oil prices gyrate as OPEC heavyweights head to Vienna
By Libby George LONDON (Reuters) – Oil prices gained more than one percent on Monday in volatile trading after falling as much as 2 percent, recouping the losses as the market reacted to the shaky prospect of major producers being able to agree output cuts at a meeting on Wednesday. U.S. West Texas Intermediate (WTI) crude futures also … See the original post here: Oil prices gyrate as... [Read more]
U.S. retailers push deals early as Black Friday loses focus
With sales on Black Friday slipping, U.S. retailers are offering pre-Thanksgiving deals even earlier than in recent years to draw shoppers as the day after no longer marks a spending peak at brick-and-mortar chains. Many retailers have started opening their stores on Thanksgiving evening to boost customer traffic and sales. Wal-Mart has already said it will increase inventory by more than half this... [Read more]
Exclusive: Microsoft set to win EU approval for LinkedIn buy – sources
Microsoft is set to gain EU approval for its $26 billion buy of professional social network LinkedIn with tweaks to concessions aimed at addressing competition concerns, three people close to the matter said on Wednesday. Microsoft last week told the European Commission that it would still allow LinkedIn's rivals access to Continued here: Exclusive: Microsoft set to win EU approval for LinkedIn... [Read more]
VW no longer expects tax demands in Germany related to diesel scandal
Volkswagen does not expect the German government to make tax demands to cover revenue losses related to the carmaker's diesel scandal, a company spokesman said on Saturday. In Germany, motor vehicle taxes are tied to the Go here to read the rest: VW no longer expects tax demands in Germany related to diesel scandal Read More →
China pledges further opening as leaders scramble for free trade
By Rosalba O'Brien and Kiyoshi Takenaka LIMA (Reuters) – Chinese President Xi Jinping pledged to open the economy further on Saturday as leaders of Asia-Pacific countries sought new free-trade options following Donald Trump's election to U.S. president on promises to scrap or renegotiate trade deals. All eyes were on China at this year's APEC summit in Lima, Peru just over a week... [Read more]
U.S. regulator reverses course, tightens controls on Wells Fargo after scandal
By Patrick Rucker WASHINGTON (Reuters) – A leading U.S. bank regulator on Friday reversed course and revoked Wells Fargo & Co's right to shield the pay of former executives after a phony- Read more: U.S. regulator reverses course, tightens controls on Wells Fargo after scandal Read More →
Volkswagen to cut 30,000 jobs
By Andreas Cremer and Jan Schwartz WOLFSBURG, Germany (Reuters) – Volkswagen and its labor unions agreed to cut 30,000 jobs at the core VW brand in exchange for a commitment to avoid forced redundancies in Germany until 2025, a compromise which leaves the carmaker's profitability still lagging rivals. … Continued here: Volkswagen to cut 30,000 jobs Read More →
Under pressure on U.S. jobs, Ford tries new gambit with Trump
Ford Motor Co , one of Donald Trump's prime corporate targets on the campaign trail, offered the President-elect a chance to claim a victory late on Thursday by informing him it would not shift production of a Lincoln sport utility vehicle to Mexico from Kentucky. Trump jumped at the chance, claiming in… Read more here: Under pressure on U.S. jobs, Ford tries new gambit with Trump Read More →