U.S. shale firm’s bankruptcy exit shows new chapter just as tough
(Reuters) – Magnum Hunter Resources Corp and its founder Gary Evans are emblematic for the U.S. shale revolution: it started small, borrowed heavily to snap up land and rivals and then crumbled under the weight of debt when prices crashed.
Asia’s factories stay sluggish, stimulus lacks traction
SYDNEY (Reuters) – Japanese manufacturing activity shrank in April at the fastest pace in more than three years as deadly earthquakes disrupted production, while output in China and the rest of Asia remained lukewarm at best.
Capital Group leaders look to rein in inflated CEO pay
BOSTON (Reuters) – The usually close-mouthed Capital Group is speaking up on executive pay – throwing more brickbats than bouquets.
Goldman targets ‘mass affluent’ borrowers with unusual lending plan
NEW YORK (Reuters) – Goldman Sachs Group Inc , the banking gold standard for the world’s elite, sees a future in less prosperous investors.
As oil plows through $45 a barrel, U.S. producers rush to lock in prices
HOUSTON (Reuters) – U.S. oil producers pounced on this month’s 20 percent rally in crude futures to the highest level since November, locking in better prices for their oil by selling future output and securing an additional lifeline for the years-long downturn.
Oil prices fall on rising OPEC crude production
SINGAPORE (Reuters) – Oil prices dipped in early Asian trade on Monday as rising production in the Middle East outweighed falling U.S. output and the recent slide in the dollar, which has been supporting crude.
Fed may need more powers to support securities firms during crises: Dudley
AMELIA ISLAND, Fla (Reuters) – The U.S. Federal Reserve may need more powers to provide emergency funding to securities firms in times of extreme stress in order to deal with a liquidity crunch, New York Federal Reserve President William Dudley said on Sunday.
Asian shares slip, Nikkei skids on yen strength
TOKYO (Reuters) – Asian shares fell in early trading on Monday, with Japan’s Nikkei plunging after the dollar notched a fresh 18-month low against the yen.
U.S. threatens to block easing of EU car exports in TTIP talks, media report
BERLIN (Reuters) – The United States is threatening to prevent the easing of export controls on European cars in order to force Europe to buy more U.S. agricultural products, Germany’s Sueddeutsche Zeitung newspaper and ARD public broadcaster reported on Sunday.
Halliburton, Baker Hughes set to end $28 billion deal: source
(Reuters) – Halliburton Co and Baker Hughes Inc are expected to announce the termination of their merger agreement on Monday following opposition from U.S. and European antitrust regulators, a person familiar with the matter said.
FCA sees issues in Deutsche Bank controls over financial crimes, FT reports
FRANKFURT (Reuters) – Deutsche Bank has “serious” and “systemic” failings in its controls against money laundering, terrorist financing and sanctions, according to a confidential letter by the UK’s financial regulatory agency, the Financial Times reported.
J.C. Penney shares could double in price in three years: Barron’s
NEW YORK (Reuters) – Shares of U.S. retailer J.C. Penney could double in price over the next three years, Barron’s reported over the weekend.
IEA chief says oil price bottoming depends on global growth
KITAKYUSHU, Japan (Reuters) – International Energy Agency (IEA) chief Fatih Birol said on Sunday that oil prices may have bottomed out, providing that the health of the global economy does not pose a concern.
Buffett defends Berkshire’s Coke stake, warns on BNSF
OMAHA, Neb. (Reuters) – Warren Buffett on Saturday defended several of Berkshire Hathaway Inc’s larger or struggling investments, including Coca-Cola and the BNSF railroad.
German finmin criticizes Volkswagen management over bonuses: paper
FRANKFURT (Reuters) – Germany’s finance minister Wolfgang Schaeuble has criticized the executive board of scandal-ridden carmaker Volkswagen for not waiving bonuses despite bringing the company to the brink of collapse.
Air France-KLM to name Jean-Marc Janaillac as new CEO: source
PARIS (Reuters) – Air France-KLM’s board is to appoint Jean-Marc Janaillac as the Franco-Dutch airline group’s next chief executive on Tuesday to replace Alexandre de Juniac, a source close to the matter said on Saturday.
Daimler hires Deloitte for internal emissions probe
FRANKFURT (Reuters) – Daimler has hired auditor Deloitte Touche Tohmatsu to help with an internal investigation into its diesel-engine emissions technology requested by the U.S. Department of Justice, the luxury car maker said.
United Airlines cuts COO Hart’s pay by $1 million over Port Authority probe
(Reuters) – United Continental Holdings Inc said in a proxy statement Friday that it cut the pay of one of its top officers in connection with an internal probe that resulted in its chief executive’s resignation last year.
Berkshire’s Clayton sees upturn in business despite critics
OMAHA, Neb. (Reuters) – Clayton Homes, the mobile home unit of Warren Buffett’s Berkshire Hathaway Inc, said it is seeing an upturn in activity even as it defends against accusations its lending practices harm borrowers and can be racist.
Puerto Rico government bank reaches debt deal with some credit unions
SAN JUAN (Reuters) – Puerto Rico’s Government Development Bank said it has reached a deal with credit unions to avoid defaulting on about $33 million of debt due on Monday.
With weak earnings in tow, focus turns to jobs data
NEW YORK (Reuters) – Coming off a barrage of flimsy company earnings reports that included Apple’s first revenue drop in 13 years, investors will turn to April jobs data for signs of budding resilience or further weakening in the second quarter.
U.S., European trade negotiators battle political headwinds
NEW YORK (Reuters) – Facing deeply entrenched differences and political headwinds, the top negotiators trying to reach a sweeping U.S.-European free trade deal avoided agriculture, public procurement and other thorny issues in talks this week.
Facebook hit with lawsuit over plan to issue new stock
SAN FRANCISCO (Reuters) – A Facebook Inc shareholder filed a proposed class action lawsuit on Friday in a bid to stop the company’s plan to issue new Class C stock, calling the move an unfair deal to entrench Chief Executive Mark Zuckerberg as controlling shareholder.
Renault board maintains CEO pay deal despite shareholder revolt
PARIS (Reuters) – Renault stuck by its decision to pay Carlos Ghosn 7.2 million euros ($8.2 million) for 2015, defying a shareholder vote against the chief executive’s package on Friday.
Nissan to recall 3.53 million vehicles: air bags may not deploy
WASHINGTON (Reuters) – Nissan Motor Co Ltd said on Friday it will recall 3.53 million vehicles, most in the United States, citing passenger-side air bags that may not work properly because vehicle sensors may malfunction.
U.S. earnings still lousy, but showing signs of life
NEW YORK (Reuters) – As earnings season begins to enter the homestretch, what has shaped up to be a dismal quarter for quarterly profits may have reached a bottom.
VW executive committee balks at Qatar’s push for seat: sources
FRANKFURT/BERLIN (Reuters) – Frustrated with the pace of reform at Volkswagen, shareholder Qatar has asked the carmaker for a seat on the company’s executive committee, a request that has met with substantial opposition, two sources familiar with the matter said on Friday.
Exclusive: Yahoo’s bidder shortlist points to cash deal -sources
(Reuters) – Yahoo Inc has shortlisted close to 10 bidders in the auction for its core Internet assets, including Verizon Communications Inc, with most offers involving cash rather than a combination with another company, according to people familiar with the matter.
Apple’s stock suffers worst week since 2013
SAN FRANCISCO (Reuters) – Apple was set on Friday to have its worst week on the stock market since 2013, as worries festered about a slowdown in iPhone sales and after influential shareholder Carl Icahn revealed he sold his entire stake.
McDonald’s probes copycat burger joint in separatist east Ukraine
MOSCOW (Reuters) – The McDonald’s fast food chain said its lawyers were investigating after entrepreneurs in separatist-controlled eastern Ukraine started selling McDonald’s-style hamburgers out of a restaurant that the company shut down two years ago.
Valeant annual report reveals new issues, company overhauls board
(Reuters) – Valeant Pharmaceuticals International Inc on Friday issued a 2015 financial report that met an important deadline for creditors, revealing new details on a range of financial and legal issues, and it also announced changes to its board.
Refining’s silver lining loses luster at Exxon and Chevron
HOUSTON (Reuters) – Exxon Mobil Corp and Chevron Corp posted sharp drops in quarterly results on Friday as an oversupplied fuel market shrank profits from their refining units, which until now had provided healthy margins that helped insulate them from a 60 percent slide in oil prices since mid-2014.
American Airlines’ CEO contract scrapped but he will stay in role
(Reuters) – American Airlines Group Inc said it terminated Chief Executive Douglas Parker’s employment agreement on his request.
Google faces first EU fine in 2016 with no deal on cards: sources
BRUSSELS – Google is likely to face its first European Union antitrust sanction this year, with little prospect of it settling a test case with the bloc’s regulator over its shopping service, people familiar with the matter said.
OPEC oil output near record high in April as Iran, Iraq growth offsets outages: Reuters survey
LONDON (Reuters) – OPEC’s oil output rose in April to close to the highest level in recent history, a Reuters survey found on Friday, as production increases led by Iran and Iraq more than offset a strike in Kuwait and other outages.
Medivation board rejects Sanofi’s $9.3 billion takeover offer
(Reuters) – Medivation Inc said on Friday its board rejected an unsolicited $9.3 billion takeover proposal from Sanofi SA , saying the offer undervalued the company and its pipeline of oncology drugs.
Fed’s Kaplan says may back June or July rate rise
LONDON (Reuters) – Dallas Federal Reserve President Robert Kaplan said on Friday that he could back a rise in U.S. interest rates as soon as June or July, if U.S. economic data firms up as he expects.
Tame U.S. inflation bolsters Fed caution on rate hikes
WASHINGTON (Reuters) – U.S. inflation barely rose in March as consumer spending remained tepid, making it less likely that the Federal Reserve will be able to follow through on its projected two interest rate hikes this year.
Exxon Mobil profit beats expectations on big cost cuts
HOUSTON (Reuters) – Exxon Mobil Corp, the world’s largest publicly traded oil producer, reported a higher-than-expected first-quarter profit on Friday as it slashed costs to offset plunging crude prices and weak refining margins.
Wall St. opens lower as investors assess earnings
(Reuters) – U.S. stocks opened lower as investors assessed earnings and data showed that inflation barely rose in March as consumer spending remains tepid.
Delta orders 37 Airbus A321s worth $4.25 billion
(Reuters) – Delta Air Lines Inc has ordered 37 current-generation A321 aircraft from Airbus Group worth $4.25 billion at list prices in a deal that Delta Chief Executive Ed Bastian called “opportunistic”.
Be the first to comment on "Companies: Latest Financial Topics from Reuters News"