Oil tumbles 4 percent on growing U.S. supply, China trade worries
Oil fell more than 3 percent on Monday, heading for its biggest one-day percentage drop in a month due after an increase in U.S. crude drilling pointed to further supply growth.
U.S tariffs will slow GDP growth: Congressional Budget Office
Tariffs imposed by the Trump administration will limit growth of U.S. real gross domestic product by an average of 0.1 percent each year for the next 10 years if they remain in place at current levels, the Congressional Budget Office (CBO) said on Mond…
Exclusive: JSW Steel, Duferco in talks on landmark steel pre-payment deal
Indian conglomerate JSW Steel and global trading firm Duferco are in advanced talks on a five-year cash-for-steel prepayment deal, four sources familiar with the matter said, in a rare move for the industry.
Exclusive: JSW Steel and Duferco in talks on steel pre-payment deal
Indian conglomerate JSW Steel and global trading firm Duferco are in advanced talks on a five-year cash-for-steel prepayment deal, four sources familiar with the matter said.
Shares of PG&E jump on report of investor group offer
Shares of power producer PG&E Corp jumped on Monday after a Bloomberg News report said an investor group had offered the company a $4 billion alternative plan that would avoid bankruptcy, according to a CNBC report on Monday.
Shutdown costs pegged at $3 billion as U.S. government reopens
The U.S. economy was expected to lose $3 billion from the partial federal government shutdown over President Donald Trump’s demand for border wall funding, congressional researchers said on Monday as 800,000 federal employees returned to work after a 3…
Saudi Arabia’s PIF slashes exposure to Tesla: FT
Saudi Arabia’s Public Investment Fund (PIF) has slashed its exposure to Tesla Inc, the Financial Times reported on Monday, citing people with direct knowledge of the matter.
Volkswagen to cut staff in Slovakia for first time in a decade
Volkswagen’s business in Slovakia, the country’s biggest car plant and largest private sector employer, plans to reduce staff this year for the first time since the 2009 global downturn as part of an efficiency drive.
Caterpillar fourth-quarter profit misses estimate badly, shares slide
Caterpillar Inc on Monday reported quarterly profit that widely missed Wall Street estimates, hurt by softening demand in China and higher manufacturing and freight costs, sending shares tumbling more than 8 percent.
Caterpillar expects price increases to be offset by higher costs this year
Caterpillar Inc expects price increases in 2019 to be mostly offset by higher costs, Chief Financial Officer Andrew Bonfield said on a conference call with analysts on Monday.
