Exclusive: Venezuela shifts oil ventures’ accounts to Russian bank – document, sources
Venezuela’s state-run oil company PDVSA is telling customers of its joint ventures to deposit oil sales proceeds in an account recently opened at Russia’s Gazprombank AO, according to sources and an internal document seen by Reuters on Saturday.
Exclusive: Venezuela moves to replace U.S. executives on Citgo board – sources
Venezuelan state-run oil company PDVSA is taking steps to remove at least two American executives from the board of directors of its U.S. refining subsidiary, Citgo Petroleum Corp, according to people close to the matter.
Marriott teams up with Kuwait Projects on St. Regis resort in Morocco
United Real Estate Co., a unit of Kuwait Projects Co, and Marriott International said in a joint statement on Saturday that they had agreed to open a resort near Marrakech.
Credit Suisse investment bank won’t shrink more: chairman
Credit Suisse’s investment banking operation has been scaled back enough, Chairman Urs Rohner was quoted saying in a newspaper interview, underscoring the number two Swiss bank’s commitment to the business.
IMF’s Lagarde says oil exporters have not fully recovered from oil shock, cautions against ‘white elephant projects’
Oil exporters have not fully recovered from the dramatic oil price shock of 2014, the head of the IMF said on Saturday, and she cautioned against spending money on “white elephant projects”.
U.S. court throws out BlackRock fund fees lawsuit
A U.S. federal court on Friday dismissed a lawsuit against BlackRock Inc that had accused the world’s largest fund manager of charging too much in investment advisory fees, according to a preliminary order.
Exclusive: Tesla’s delivery team gutted in recent job cuts – sources
When Tesla Inc announced last month a second round of job cuts to rein in costs, one crucial department was particularly badly hit. The automaker more than halved the division that delivers its electric vehicles to North American customers, two of the …
EA’s ‘Fortnite’ rival wins 10 million gamers in three days
A game developed by Electronics Arts Inc as a competitor to the wildly popular “Fortnite” has signed up 10 million players within three days of its launch, the videogame maker said, driving its shares up 16 percent on Friday.
U.S. fund managers brace for consumer slowdown
With expectations for slowing growth escalating, U.S. fund managers are selectively avoiding stocks in consumer companies as lofty valuations, concerns about declining earnings estimates, and consumer confidence keep them on guard.
U.S. sues Lockheed, others for alleged kickbacks on nuclear site cleanup
The United States has sued Lockheed Martin Corp, Lockheed Martin Services Inc, and Mission Support Alliance LLC, as well as a Lockheed executive for alleged false claims and kickbacks on a multibillion-dollar contract to clean up a nuclear site, the Ju…
