Here is the latest Business News from Reuters.
GM’s China chief says Chinese car market to grow 3-5 percent/year till 2020
BEIJING (Reuters) – General Motors Co (GM) expects to see China’s car market to grow 3-5 percent every year until 2020, its China chief Matt Tsien said on Monday.
GM targets big jump in South Korea sales to alleviate production woes
YANGPYEONG, South Korea (Reuters) – General Motors Co said it is aiming to boost its South Korean sales by one fifth and attain market share of more than 10 percent, part of efforts to revive output at one of its key Asia production bases.
Sherwin-Williams paint company to buy Valspar for $9.3 billion
(Reuters) – The Sherwin-Williams Co has agreed to acquire rival U.S. paint company Valspar Corp , the companies said on Sunday, in an all-cash deal valued at about $9.3 billion.
Exclusive: A plea for help – How China asked the Fed for its stock crash play book
WASHINGTON (Reuters) – Confronted with a plunge in its stock markets last year, China’s central bank swiftly reached out to the U.S. Federal Reserve, asking it to share its play book for dealing with Wall Street’s “Black Monday” crash of 1987.
For bank heist hackers, the Philippines was a handy black hole
MANILA (Reuters) – In February 2013, the Philippines was up against a deadline to amend its Anti-Money Laundering Act and get itself off the ‘grey list’ of a global watchdog, and lawmakers were bickering over whether to include casinos under the legislation.
Asian stocks ease as investors wary after oil drops
HONG KONG (Reuters) – Asian stocks took a step back on Monday after three consecutive weeks of gains as a retreat in oil prices left investors in a ponderous mood about the health of the global economy.
FedEx shares could rise 15-20 percent over next year: Barron’s
(Reuters) – Shares of U.S. delivery services company FedEx Corp could rise another 15 to 20 percent over the next year after soaring 12 percent on Thursday, Barron’s reported on Sunday.
Wilbur Ross to buy Nexeo from TPG for $1.6 billion: source
(Reuters) – Billionaire investor Wilbur Ross has reached a deal to buy Nexeo Solutions Holdings LLC, a distributor of plastic resins and chemicals, for roughly $1.6 billion, including debt, a person familiar with the matter told Reuters on Sunday.
Exclusive: U.S. to offer China’s ZTE ‘temporary relief’ on export curbs – official
(Reuters) – The U.S. Department of Commerce is expected this week to lift export curbs it imposed on Chinese telecom equipment and smartphone maker ZTE Corp for alleged Iran sanctions violations.
Euro zone lenders, Greece make progress on tax, pension reforms
BRUSSELS (Reuters) – European lenders have made important progress in talks with Greece on tax and pension reforms that are part of a package of measures Athens must adopt to win new loans and debt relief, a European Commission spokesperson said on Sunday.
Foxconn lowering offer for Japan’s Sharp: Yomiuri
TOKYO (Reuters) – Taiwan’s Foxconn is lowering an offer for loss-making Japanese electronics maker Sharp Corp from an initial plan of 489 billion yen ($4.4 billion), the Yomiuri newspaper reported on Sunday.
Starwood signs first U.S.-Cuba hotel deal since 1959 revolution
HAVANA (Reuters) – Starwood Hotels & Resorts Worldwide on Saturday became the first U.S. hotel company to sign a deal with Cuba since the 1959 revolution, announcing a multimillion-dollar investment a day before U.S. President Barack Obama was due to visit Havana.
Brazil’s Agnelli, who turned Vale into top miner, dies in crash
SAO PAULO (Reuters) – Roger Agnelli, the Brazilian banker who turned Vale SA into the world’s No. 1 iron ore producer, died on Saturday in a plane crash, a source close to aviation authorities told Reuters. He was 56.
Amazon takes nearly 10 percent stake in Air Transport Services Group
(Reuters) – Amazon.com Inc has taken a 9.99 percent stake in Air Transport Services Group Inc , the company from which it will be leasing freighter aircraft.
Spotify agreement a ‘win’ for artists, company :Billboard editor
(Reuters) – A senior editor for Billboard magazine on Friday called an agreement over royalties reached between Spotify and the National Music Publishers Association “a win” for songwriters and for the music streaming service.
Struggling U.S. oil and gas companies eye rare financing deals
NEW YORK (Reuters) – Some cash-strapped U.S. oil and gas companies are considering creating an unusual layer of debt as a way of surviving the rout in oil and gas prices, according to restructuring advisors.
BlackRock’s Larry Fink paid nearly $26 million in 2015
NEW YORK (Reuters) – BlackRock Inc , the world’s largest asset manager, raised total compensation for Chairman and Chief Executive Larry Fink by about 8 percent in 2015, according to a filing on Friday.
Airbus sets maiden flight of its first jetliner built in U.S.
NEW YORK (Reuters) – Airbus said on Friday it had scheduled the maiden flight of its first U.S.-built jetliner, an A321 that is due to take off on Monday from a factory in Mobile, Alabama.
GameStop attracts large investors as shorts back off
SAN FRANCISCO (Reuters) – GameStop, one of the most shorted U.S. stocks, has started to attract institutional buyers and dissuade some traders betting against it as it fights off a consumer shift toward downloading video games and its depressed share price stabilizes.
U.S. prosecutors, Apple to bring witnesses to hearing on locked iPhone
WASHINGTON (Reuters) – The U.S. government and Apple Inc will be able to cross-examine the other’s witnesses in a court hearing next week over whether the technology company must help federal investigators unlock an encrypted iPhone tied to one of the San Bernardino killers, Apple said.
BlackRock income fund manager slices preferred stocks on volatility fear
NEW YORK (Reuters) – A top BlackRock Inc fund manager said his team cut its exposure to preferred stocks to a “historical” low of 5 percent on fears that market volatility could spill into the asset class.
Bullard says Fed’s goals largely met, rates should edge up
WASHINGTON (Reuters) – The U.S. central bank’s inflation and employment goals have essentially been met and it would be “prudent” to edge interest rates higher, St. Louis Fed President James Bullard said on Friday.
Saudi Arabia leaves shale-favoring plants to Shell in Motiva split
NEW YORK (Reuters) – Royal Dutch Shell Plc plans to maintain control of two refineries that can run more domestic crude, leaving a plant that runs massive volumes of Saudi Arabian oil to Saudi Aramco as the companies end their Motiva Enterprises joint venture.
Exclusive: After Motiva split, Saudi Aramco aims to buy more U.S. refineries – sources
HOUSTON (Reuters) – Saudi Arabia’s national oil company wants to buy more U.S. refining and chemical plants to expand its footprint in the world’s largest energy market once the break-up of its joint venture with Royal Dutch Shell Plc is complete, sources said.
Eyes on the dollar with stocks out of the hole
NEW YORK (Reuters) – U.S. stock market investors will be watching currency markets next week for signs that the recent, related trends of a weakening dollar and a strengthening stock market will continue.
Six months into ‘Dieselgate’ scandal, gloom deepens in VW’s hometown
WOLFSBURG, Germany (Reuters) – When Martin Winterkorn dropped by to order some new glasses in the Volkswagen company town of Wolfsburg, he was “visibly dejected”, according to his optician. But the visit wasn’t last September, when Winterkorn had just quit as the German carmaker’s chief, it was this week.
Argentina, creditors agree $155 million more in default settlement: mediator
NEW YORK (Reuters) – Argentina settled with an additional 115 individual creditors holding defaulted sovereign bonds for $155 million, Daniel Pollack, the court-appointed mediator in the long-running case, said on Friday.
CRH, LafargeHolcim contest final price of 2015 deal
DUBLIN (Reuters) – Building materials companies CRH and LafargeHolcim are contesting the final price of CRH’s acquisition of assets from the Swiss-French company, the two companies said.
Lehman employees lose appeal over stock losses from bankruptcy
NEW YORK (Reuters) – Richard Fuld, the former chief executive officer of Lehman Brothers Holdings Inc [LEHLO.UL], is not liable to onetime employees who suffered millions of dollars in losses in company stock as the bank descended into bankruptcy, a federal appeals court has ruled.
U.S. probe on Wal-Mart finds little sign of bribery in China: Bloomberg
(Reuters) – U.S. prosecutors investigating allegations of bribery by Wal-Mart Stores Inc across the globe have found little evidence of corrupt practices in China, Bloomberg reported.
Some documents in Sumner Redstone case to be unsealed: judge
LOS ANGELES (Reuters) – A Los Angeles judge tentatively ruled on Friday that certain documents can be made public in a lawsuit that challenges the mental competency of 92-year-old media mogul Sumner Redstone.
Twitter to keep 140-character limit, says CEO Jack Dorsey
(Reuters) – Twitter Inc will keep the 140-character limit for tweets, Chief Executive Jack Dorsey said on Friday.
VW managers knew of possible penalties in August 2015: Der Spiegel
FRANKFURT (Reuters) – Volkswagen’s VW brand chief and its head of procurement were told in an internal meeting on Aug. 24, 2015 that the German carmaker could face potential penalties of more than $20 billion for the use of illegal software in its vehicles, weekly Der Spiegel reported on Friday.
FBI probes Bangladesh bank account cyber theft: WSJ
(Reuters) – The Federal Bureau of Investigation (FBI) is probing the cyber theft of tens of millions of dollars from the Bangladesh central bank’s U.S. account, the Wall Street Journal reported on Friday, citing people familiar with the matter.
How UK company formation agents fuel fraud
LONDON (Reuters) – British government efforts to crack down on money laundering and fraud through UK businesses are failing to tackle a key area – the role of company formation agents – a Reuters study of the sector shows.
Bitcoin finds room in small funds; large institutions still on sidelines
NEW YORK (Reuters) – Digital currency bitcoin has found favor among smaller investors, thanks to the availability of funds designed to invest in it, but remains a niche among the larger investing community.
Daimler receives huge order from Uber: Manager Magazin
FRANKFURT (Reuters) – Ride-hailing service Uber [UBER.UL] has placed a large order for cars with Germany’s Daimler , Manager Magazin reported on Friday.
BofA raises share buyback by up to $800 million
(Reuters) – Bank of America Corp said its board has authorized share repurchase of up to $800 million, in addition to the $4 billion share buyback announced earlier.
Staples, Office Depot say FTC opposition to deal ‘simply wrong’
(Reuters) – Staples Inc said the U.S. Federal Trade Commission’s opposition to its $6.3 billion acquisition of Office Depot Inc was “simply wrong” and that it did not take into account increasing competition from online retailers.
Wall St. opens higher, helped by rising oil prices
(Reuters) – U.S. stocks were higher at the open on Friday as the Federal Reserve’s tempered view on interest rates and rising oil prices whetted investors’ risk appetite.
UK sugary drink tax could be sweet for food ingredient suppliers
LONDON (Reuters) – The British government’s planned levy on sugary soft drinks means more business for suppliers of specialty ingredients that boost sweetness without adding calories and can mask aftertastes or add texture.
Fed bank supervisors can curb but not eliminate failures: Dudley
NEW YORK (Reuters) – The army of supervisors from the Federal Reserve and other agencies can reduce but not eliminate the risk of bank failures, New York Fed President William Dudley said on Friday.
Ford CEO’s compensation jumped 17 pct to $17.4 million in 2015
DETROIT (Reuters) – Ford Motor Co Chief Executive Officer Mark Fields’ salary, bonus and stock awards jumped 17 percent to $17.4 million in 2015, a year in which the auto maker earned a record pretax profit, the company said on Friday.
Sheraton owner Starwood set to accept offer from China’s Anbang
(Reuters) – Starwood Hotels & Resorts Inc , the operator of Sheraton and Westin hotels, said on Friday it planned to accept a raised buyout offer from a group led by China’s Anbang Insurance and scrap its deal with Marriott International Inc .
Sweden’s ‘Warren Buffett’ eyes bigger investment crown
STOCKHOLM (Reuters) – In a country where family-run business spheres dominate the landscape, Fredrik Lundberg, often referred to as Sweden’s Warren Buffett, is tackling bigger rivals on several fronts.
German court acquits former Porsche CEO in VW takeover case
STUTTGART, Germany (Reuters) – A German court on Friday acquitted Wendelin Wiedeking, a former chief executive of Porsche , of alleged market manipulation in the wake of one of the auto industry’s most controversial takeover battles.
HSBC says it has begun search for new chairman
LONDON (Reuters) – HSBC has begun the search for a successor to its Chairman Douglas Flint and will aim to nominate a candidate in 2017, Europe’s biggest bank said on Friday.
UBS says European court accepts French tax case petition
ZURICH (Reuters) – Swiss bank UBS said on Friday that the European Court of Human Rights (ECHR) had accepted its petition to challenge French court rulings in a case over whether it helped clients avoid tax.
UK fraud prosecutors get arrest warrants for Euribor bankers
LONDON (Reuters) – The UK Serious Fraud Office (SFO) said on Friday it had obtained arrest warrants to try to bring four Germans and one Frenchman to Britain to face charges of conspiracy to rig Euribor benchmark interest rates.
Upscale jeweler Tiffany’s sales drop 5.6 percent in holiday quarter
(Reuters) – Tiffany & Co’s sales fell 5.6 percent in the holiday quarter as a strong dollar hurt tourist spending at its stores in the United States and ate into revenue from other markets.
Indian airlines look to smaller planes in regional push
HYDERABAD, India (Reuters) – Indian airlines are in talks with ATR, Bombardier and Embraer to buy smaller planes to fly to the country’s booming second and third tier cities ahead of a government drive to get more of the country connected by air.
Toshiba: conducting stress test for nuclear business this quarter
TOKYO (Reuters) – Japan’s Toshiba Corp said it is currently conducting a stress test on its nuclear business to assess whether it will require a writedown.
Go easy on deals, investors tell new Rio Tinto boss
MELBOURNE/SYDNEY (Reuters) – Top investors in Rio Tinto say they want the global miner’s new boss to proceed cautiously on acquisitions, focusing on the core, cash-generating iron ore business and on developing his own copper mines before looking for new assets.
JPMorgan increases stock buyback program by up to $1.88 billion
(Reuters) – JPMorgan Chase & Co, the biggest U.S. bank by assets, said it will repurchase up to $1.88 billion in common shares through the end of the second quarter.
Steve Cohen’s Point72 says it has perfect U.S. compliance
NEW YORK (Reuters) – Billionaire Steve Cohen’s investment firm, a family office that took over managing his fortune in 2014 after his hedge fund pleaded guilty to securities fraud, has a perfect regulatory compliance record, its president said on Thursday.
Viacom receives interest for Paramount minority stake: WSJ
(Reuters) – Viacom Inc has received interest from three dozen companies for a minority stake in its Paramount Pictures studio, Chief Executive Philippe Dauman said in an interview with the Wall Street Journal.
Exclusive: DOJ probes allegations that Tiversa lied to FTC about data breaches
WASHINGTON (Reuters) – Federal agents are investigating whether cyber-security firm Tiversa gave the government falsified information about data breaches at companies that declined to purchase its data protection services, according to three people with direct knowledge of the inquiry.
Asia stocks turn positive for year, dollar sags after Fed
TOKYO (Reuters) – Asian shares edged higher on Friday, turning positive for the year, while the U.S. dollar weakened broadly after the Federal Reserve’s cautious stance on further rate increases prompted investors to rebuild their bets on riskier assets.
U.S. oil falls after flirting with 2016-high
TOKYO (Reuters) – U.S. oil futures flirted with new highs for 2016 on Friday, adding to strong gains the previous session as optimism grew that major producers would strike a deal to freeze output, while a more benign interest rate environment also supported prices.
Toshiba says U.S. units under investigation over accounting issues
TOKYO (Reuters) – Toshiba Corp said on Friday its U.S. units have received a request for information from U.S. authorities regarding accounting issues.
New York Fed-FX swaps with foreign central banks total $76 million in latest week
NEW YORK (Reuters) – The Federal Reserve provided $76 million of liquidity to foreign central banks in the latest week via its swap lines for foreign central banks, the New York Fed said on Thursday.
Chesapeake Energy considering 1.5-lien debt exchange: CapitalStructure
NEW YORK (Reuters) – Chesapeake Energy Corp, an oil and gas company struggling in the commodities rout, is considering swapping out some of its existing debt for new 1.5 lien debt, according to CapitalStructure, a provider of news and analysis on the sub-investment grade space, citing sources close to the situation.
Blackstone nears deal to buy HP Enterprise stake in India’s MphasiS: sources
MUMBAI (Reuters) – Blackstone Group LP is nearing a deal to acquire Hewlett Packard Enterprise’s (HPE) controlling stake worth about $940 million in Indian IT outsourcing services provider MphasiS Ltd , according to three sources directly involved in the deal.
TransCanada to buy Columbia Pipeline Group for $10.2 billion
CALGARY, Alberta (Reuters) – TransCanada Corp , the company behind the controversial Keystone XL oil pipeline, said on Thursday it will buy Columbia Pipeline Group for $10.2 billion, creating one of North America’s largest regulated natural gas transmission businesses.
Swiss watchmakers face another challenging year
BASEL, Switzerland (Reuters) – Swiss watchmakers are braced for another difficult year as economic woes in major markets curb consumers’ appetite for pricey timepieces, industry executives said on Thursday.
Aeropostale to explore strategic alternatives, including sale
(Reuters) – Teen apparel retailer Aeropostale Inc said it was exploring strategic alternatives, including a sale, after posting its 13th straight quarterly loss.
Cuba offers olive branch ahead of Obama visit but slams embargo
HAVANA (Reuters) – Cuba made a rare gesture of reciprocity to the United States on Thursday, three days before a historic visit by U.S. President Barack Obama, but the olive branch was wrapped in spiky rhetoric against decades-old economic sanctions.
Norwegian Air Shuttle boss sees U.S. dispute going to arbitration
LONDON (Reuters) – Norwegian Air Shuttle’s dispute with U.S. regulators over its wish to fly more transatlantic routes will likely go to arbitration, the CEO of Europe’s third biggest budget airline said on Thursday.
U.S. SEC says Amazon should allow shareholder vote on gender pay
(Reuters) – Amazon.com Inc should allow shareholders to vote on a proposal on gender pay equality, the U.S. securities regulator decided this week in rejecting the retailer’s request to omit the measure from its annual ballot.
Alphabet puts robot-maker Boston Dynamics up for sale: Bloomberg
(Reuters) – Alphabet Inc has put Boston Dynamics, part of its robotics division, up for sale for lack of revenue potential, Bloomberg reported, citing people familiar with the plans.
Exclusive: Anbang hires proxy solicitor for Starwood bid – sources
(Reuters) – China’s Anbang Insurance Group Co has hired a proxy solicitation firm to advise it on how Starwood Hotels & Resorts Inc shareholders view its $12.8 billion acquisition offer and prepare its next steps, people familiar with the matter said.
BofA CEO Moynihan bank’s highest-paid executive for first time
(Reuters) – Bank of America Corp Chief Executive and Chairman Brian Moynihan received a higher year-end compensation award for 2015 than any other executive at the bank, the first time this has happened since he took the top job in 2010.
Prominent BlackRock strategist Koesterich moving to new role: memo
NEW YORK (Reuters) – Russ Koesterich, who was BlackRock Inc’s global chief investment strategist, has left that role and is joining the team responsible for the $47 billion BlackRock Global Allocation Fund , according to an internal memo.
Deutsche Bank shareholder won’t back second term for chairman: magazine
FRANKFURT (Reuters) – Deutsche Bank’s second-largest shareholder will not back Chairman Paul Achleitner for a second term because of his lack of success in turning the bank around, a German magazine reported.
U.S. fed funds rate holds at 0.37 pct
NEW YORK (Reuters) – The U.S. interest rate that the Federal Reserve targets to conduct its monetary policy held at 0.37 percent for a second day on Wednesday, according to Fed data released on Thursday.
Viacom extends COO’s employment agreement through 2018
(Reuters) – Viacom Inc said on Thursday it extended the employment agreement of Chief Operating Officer Thomas Dooley 10 months before his current contract was set to expire, settling uncertainty over whether the executive would stay with the multi-billion dollar media company.
German court ruling threatens Apple’s video services
FRANKFURT/SAN FRANCISCO (Reuters) – A German district court has ruled that Apple Inc violated patents acquired by Swiss security company Kudelski’s OpenTV business, which could force Apple to remove some video streaming features from popular products sold in Germany.
Bangladesh police launch heist probe; Manila banker took away cash in car
DHAKA/MANILA (Reuters) – Bangladesh police launched a criminal investigation on Thursday into the cyber theft of $81 million from the central bank’s U.S. account but said it was too early to pinpoint any suspects.
Energy companies drain loans before banks clamp down
NEW YORK (Reuters) – Troubled U.S. energy companies, maneuvering for stronger negotiating positions if filing for bankruptcy, are racing to tap cash still available under existing reserve-based loan commitments before banks cut their credit access next month.
Swiss to return $70 million more to Brazil in Petrobras probe
ZURICH (Reuters) – Swiss authorities plan to return $70 million more in funds frozen amid an investigation into suspected corruption at Brazilian group Petrobras, Attorney General Michael Lauber’s office said after he met Brazilian counterpart Rodrigo Janot.
U.S. safety agency says automakers to add automatic braking by 2022
MCLEAN, Va. (Reuters) – U.S. auto safety regulators said on Thursday that 20 automakers have agreed to make automatic emergency braking standard on nearly all U.S. vehicles by 2022, a move that could prevent thousands of rear-end crashes annually.
VW seeks comprehensive deal on emissions with U.S. regulators: source
HAMBURG (Reuters) – Volkswagen aims to agree a deal with U.S. authorities that resolves as many issues related to its emissions cheating scandal as possible at once, a senior manager at the German carmaker told Reuters.
Dividend alert: Investors have bid up income stocks to risky levels
NEW YORK (Reuters) – Spooked by the early 2016 stock market selloff and sick of low interest rates, income investors have been bidding up dividend stocks at a feverish pace – so much so that these shares now are priced at levels high enough to worry some money managers.
GSK break-up? Don’t bank on it, says drugmaker’s outgoing boss
LONDON (Reuters) – News that GlaxoSmithKline will have a new chief executive in 12 months has fueled speculation about a break-up of Britain’s biggest drugmaker but outgoing boss Andrew Witty says this is wide of the mark.
Goldman’s European business cuts pay after IPO activity slows
LONDON (Reuters) – Average pay at Goldman Sachs’ European arm fell 15 percent year-on-year as turbulent markets discouraged companies from listing on stock markets, hitting the bank’s underwriting business hard.
Long-haul budget airline French Blue sets two-year deadline to break even
PARIS (Reuters) – Airline French Blue plans to give itself two years to break even from low-cost services between Europe and North America, its chairman told Reuters on Thursday.
Transocean defeats U.S. shareholder appeal over Gulf spill
NEW YORK (Reuters) – Transocean Ltd on Thursday won the dismissal of an appeal by shareholders accusing the owner of the doomed Deepwater Horizon drilling rig of deceiving them about its safety practices prior to the 2010 Gulf of Mexico oil spill.
Embraer consultant says believes CEO knew of bribery: WSJ
(Reuters) – A sales consultant told Brazilian prosecutors he believes planemaker Embraer SA’s top officials, including Chief Executive Frederico Curado, knew of illicit payments related to the sale of military aircraft to the Dominican Republic, the Wall Street Journal reported.
BMW CFO says China market has bottomed out, U.S. now a concern
FRANKFURT (Reuters) – BMW’s Chief Financial Officer Friedrich Eichiner said that after taking out inventories to restore demand in China in the fourth quarter, the market appeared to have bottomed out.
Deregulation slowdown poses biggest challenge to UBS in China
SHANGHAI (Reuters) – A slowdown in the pace of deregulation is the biggest challenge facing UBS AG in China, an executive at the Swiss bank said as it opened a branch of its wealth management business in Shanghai on Thursday.
European cars to use more aluminum to meet CO2 targets
CAPE TOWN (Reuters) – The amount of light, recyclable aluminum in European cars will rise to 180 kg on average by 2020 as automakers look to cut harmful carbon emissions, a senior metals industry official said.
Investor Woodford calls for outsider to head GlaxoSmithKline
LONDON (Reuters) – Fund manager Neil Woodford, a top investor in GlaxoSmithKline and a critic of the drugmaker’s current structure, said on Thursday he wanted to see an outsider replace Andrew Witty as the group’s chief executive.
Deutsche Bank to cut retail outlets, hire sales experts
MAINZ, Germany (Reuters) – Deutsche Bank is reducing its network of retail outlets in Germany to 500 from more than 700 as it seeks to lower costs and adjust to an increasingly digital banking sector, a board member said.
U.S. jobless claims edge up; current account deficit falls
WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits rose from a five-month low last week, but remained below a level associated with a strengthening labor market.
Shell, Aramco U.S. refining breakup lets both pursue ambitious goals
LONDON (Reuters) – The breakup of Royal Dutch Shell’s and Saudi Aramco’s giant U.S. refining joint venture draws a line under an often rocky relationship and allows Aramco to accelerate an ambitious public offering and Shell to push ahead with a large asset sale.
Wall St. flat at open day after Fed meeting
(Reuters) – U.S. stocks opened little changed on Thursday, a day after the Federal Reserve’s lowered expectations of two interest rate hikes in 2016 pushed the S&P 500 to its highest close this year.
Euronext looks to snap up assets from any Deutsche Boerse-LSE fallout
By Sophie Sassard, Freya Berry and Alexandre Boksenbaum-Granier
Lufthansa says A320neo engine improving but not there yet
FRANKFURT (Reuters) – Lufthansa said issues with the new engine of its A320neo plane are not fully fixed and as a result it was not ready to put more of the revamped Airbus jets into commercial service.
Heineken eyes control of indebted Indian tycoon’s brewery
MUMBAI (Reuters) – Heineken is likely to ask Vijay Mallya, who owes creditor banks more than $1 billion, to step down from the board of United Breweries , India’s largest brewer, three people with direct knowledge of the plan told Reuters.
Norwegian Air says Paris-to-U.S. ticket sales ahead of forecast
OSLO (Reuters) – Norwegian Air’s ticket sales for the upcoming flights from Paris to U.S. destinations have been stronger than anticipated, the budget airline said on Thursday.
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