usa

China’s economy grew by around 7 percent in 2015, services made up half of GDP – Premier

China's gross domestic product (GDP) totaled more than $10 trillion in 2015 and the economy grew by around 7 percent, with the services sector accounting for half of GDP, Premier Li

Read the original post: 
China’s economy grew by around 7 percent in 2015, services made up half of GDP – Premier

usa

Citigroup, Wells Fargo gird for loan losses as oil price dives

Wells Fargo & Co raised provisions against soured assets by more than 70 percent, nearly half of them for oil and gas loans, to ensure it is covered should prices stay at current levels for the rest of the year. The San Francisco-based bank, a major lender to the U.S. energy industry, said it and other banks were talking to borrowers, including production companies and oil services firms, about how to navigate the crunch. Citigroup Inc set aside $250 million to cover losses related to its energy portfolio …

More here: 
Citigroup, Wells Fargo gird for loan losses as oil price dives

usa

U.S. manufacturing activity slumps, construction spending falls

By Lucia Mutikani NEW YORK (Reuters) – The U.S. manufacturing sector contracted further in December, as the impact of a stronger U.S. dollar undermined export profitability, while U.S. construction spending fell for the first time in nearly 1-1/2 years in November, suggesting only moderate economic growth in the fourth quarter of 2105. The U.S. Institute for Supply Management (ISM) said its index of national factory activity fell to 48.2 from 48.6 in November and is now at its lowest level since June 2009. A reading above…

Go here to see the original:
U.S. manufacturing activity slumps, construction spending falls

usa

U.S. hedge fund founder is denied early release in insider case

By Jonathan Stempel NEW YORK (Reuters) – A federal judge on Wednesday rejected hedge fund manager Doug Whitman's request to end his two-year sentence for insider trading early while he pursues his latest appeal of his 2012 conviction. U.S. District Judge Jed Rakoff said it would be unfair to release the Whitman Capital LLC founder from the Sacramento, California, halfway house where he was moved this month just because he is only five months away from possible freedom…

Excerpt from: 
U.S. hedge fund founder is denied early release in insider case

usa

Lockheed wins more than $1 billion contract for C-130J aircraft

(Reuters) – Lockheed Martin Corp has been awarded a contract worth more than $1 billion for 32 C-130J aircraft, the Pentagon said on Wednesday. The work is expected to be completed

Original post: 
Lockheed wins more than $1 billion contract for C-130J aircraft

usa

U.S. holiday retail sales grow a ‘solid’ 7.9 percent: MasterCard

(Reuters) – Strong online sales and demand for furniture and women's apparel helped U.S. retail sales grow by a “solid” 7.9 percent this holiday season, according to MasterCard Advisors SpendingPulse. U.S. retail sales, excluding automobiles and gas, had grown 5.5 percent in the period between Black Friday and Christmas Eve last year. Online sales grew 20 percent in the holiday season this year, MasterCard

See the rest here: 
U.S. holiday retail sales grow a ‘solid’ 7.9 percent: MasterCard

usa

Pentagon eyes proposal for M&A changes in ‘weeks’

By Andrea Shalal WASHINGTON (Reuters) – The Pentagon and other U.S. government agencies should complete a legislative proposal in coming weeks to let regulators block proposed mergers for national security reasons, instead of just antitrust concerns, a top official said on Tuesday. Defense Undersecretary Frank Kendall, who oversees arms weapons acquisitions and industrial base issues for the Pentagon, made the comments in an interview, after first …

Read the rest here:
Pentagon eyes proposal for M&A changes in ‘weeks’

usa

BMW hit with $40 million U.S. penalty for safety lapses

U.S. auto safety regulators on Monday fined BMW $10 million, part of a $40 million civil settlement over the German automaker's safety lapses. The fine is the second paid by BMW since 2012 and the latest in a series of civil penalties imposed on major automakers by the National Highway Traffic Safety Administration (NHTSA). Under the settlement, BMW admitted it did not comply with minimum crash protection standards…

Read more here: 
BMW hit with $40 million U.S. penalty for safety lapses

usa

KaloBios fires Shkreli as CEO

(Reuters) – Drugmaker KaloBios Pharmaceuticals Inc said it fired Martin Shkreli as chief executive on Dec. 17, the day he was arrested on charges of a securities fraud. Shkreli, who has become the poster child for the issue of soaring prices for prescription medications, has already stepped down as CEO of private drugmaker Turing Pharmaceuticals Inc, in addition to resigning from KaloBios' board of directors. Shkreli was arrested last week for engaging in what U.S. prosecutors said was a Ponzi-like scheme at his former hedge fund MSMB Capital…

See original here: 
KaloBios fires Shkreli as CEO

usa

KaloBios fires Shkreli as CEO

(Reuters) – Drugmaker KaloBios Pharmaceuticals Inc said it fired Martin Shkreli as chief executive on Dec. 17, the day he was arrested on charges of a securities fraud. Shkreli, who has become the poster child for the issue of soaring prices for prescription medications, has already stepped down as CEO of private drugmaker Turing Pharmaceuticals Inc, in addition to resigning from KaloBios' board of directors. Shkreli was arrested last week for engaging in what U.S. prosecutors said was a Ponzi-like scheme at his former hedge fund MSMB Capital …

Read more here: 
KaloBios fires Shkreli as CEO

« Previous Page — Next Page »