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Chevron posts largest quarterly loss since 2001 on weak oil prices

HOUSTON (Reuters) – Chevron Corp, the second-largest U.S.-based oil producer, posted a second-quarter loss on Friday, its largest since 2001, due to the slump in crude prices and refining income. The company lost $1.47 billion, or $1.07 per share, compared with a net profit of $571 million, or 30 cents per share, in the year-ago period. Production fell about 3 percent to 2.53 million barrels of oil equivalent per day (boe

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Chevron posts largest quarterly loss since 2001 on weak oil prices

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U.S. economy shows few signs of sustained inflation pressure: Fed

The U.S. economy continued to expand from mid-May through the end of June but there was little indication that inflation would surge any time soon, the Federal Reserve said on Wednesday. Wage…

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U.S. economy shows few signs of sustained inflation pressure: Fed

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EU regulators to rule on $130 billion Dow, DuPont deal by July 28

EU antitrust authorities will decide by July 28 whether to allow the $130 billion merger of U.S. chemical company Dow Chemical Co and its rival DuPont , one of several large agribusiness deals. The companies requested approval on Wednesday

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U.S. jobless claims near 43-year low; new home sales decline

The number of Americans filing for unemployment benefits fell last week to near a 43-year low, suggesting labor market resilience even though hiring slowed sharply in May. The drop in jobless claims could give Federal Reserve officials more confidence that job growth will pick up. “Overall labor market conditions are not as bad as one might assume based on May's non-farm payroll print alone,” said Jim Baird, chief investment officer at Plante Moran Financial Advisors in Kalamazoo, Michigan.

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U.S. jobless claims near 43-year low; new home sales decline

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U.S. banks tell trading clients to brace for UK vote

U.S. banks including Bank of America Corp and Morgan Stanley are warning clients about the potential for extreme price moves as Britain prepares to vote on its membership of …

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U.S. banks tell trading clients to brace for UK vote

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Verizon and unions reach tentative deal to end strike

Verizon Communications Inc and unions representing nearly 40,000 wireline workers have reached a tentative deal “in principle” to end a strike that started April 13th, U.S. Secretary of Labor Thomas Perez said on Friday. Shares in Verizon, the No. 1 U.S. wireless company, jumped as much as 1.2 percent after the announcement and in afternoon trading were up almost 1 …

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Verizon and unions reach tentative deal to end strike

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Sumner Redstone suggests he could oust Viacom board, CEO

A judge set an early June hearing on the possible removal of CEO Philippe Dauman from the trust that will control the media company when Redstone dies or is deemed incapacitated. In a statement issued through a spokesman, Redstone, who turned 93 on Friday, said he would act in “the best interests of shareholders,” when weighing whether or not to oust Dauman…

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Sumner Redstone suggests he could oust Viacom board, CEO

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Tribune gets $70.5 million investment from billionaire Soon-Shiong

Tribune also rejected Gannett Co Inc's latest takeover offer, but said on Monday that it would allow the publisher of USA Today access to some confidential corporate information. Los Angeles-based Soon-Shiong, through his fund Nant Capital LLC, will hold about 12.9 percent in Tribune and join the publisher's board as vice chairman on June 2. Soon-Shiong, a South African-born surgeon, is part-owner of the Los Angeles Lakers basketball team and a founder of two drug companies, which…

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Tribune gets $70.5 million investment from billionaire Soon-Shiong

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Tribune Publishing adopts poison pill to stop Gannett bid

(Reuters) – Newspaper publisher Tribune Publishing Co said its board had adopted a shareholder rights plan – popularly known as a “poison pill” – in a bid to thwart Gannett Co Inc's unsolicited takeover offer. Tribune shares fell nearly 6 percent in morning trading on Monday, while Gannett shares were little

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Tribune Publishing adopts poison pill to stop Gannett bid

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Judge dismisses mental competence lawsuit against Sumner Redstone: tentative ruling

(Reuters) – A Los Angeles judge dismissed a lawsuit over the mental competence of media mogul Sumner Redstone, in a tentative ruling issued on Monday. (Reporting by Lisa Richwine; Editing by Chizu Nomiyama)

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Judge dismisses mental competence lawsuit against Sumner Redstone: tentative ruling

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