Wall Street drops more than 1 percent on Caterpillar, Nvidia warnings
U.S. stocks dived on Monday, as weak forecasts from Caterpillar Inc and Nvidia Corp fueled worries about a slowdown in China taking a bigger bite off corporate profits.
In the new lithium ‘Great Game,’ Germany edges out China in Bolivia
When Germany signed a deal last month to help Bolivia exploit its huge lithium reserves, it hailed the venture as a deepening of economic ties with the South American country. But it also gives Germany entry into the new “Great Game”, in which big powe…
Tesla seen forecasting first-quarter loss after Musk warning
Wall Street analysts expect Tesla Inc to forecast a loss for the first quarter when it reports results on Wednesday, having changed their expectations for a profit after Chief Executive Officer Elon Musk warned of a “very difficult” road ahead.
Vale stock plunges after Brazil disaster; $16 billion in market cap erased
Brazilian miner Vale SA’s shares plunged on Monday, wiping out nearly 62 billion reais ($16.4 billion) in market value, after a tailing dam collapse on Friday killed at least 60 people and left 292 missing with slim hopes for recovery.
Tesco says changes to UK business to impact up to 9,000 jobs
Tesco, Britain’s biggest retailer, said on Monday it was making changes to its UK business that could impact up to 9,000 jobs.
Aramco’s rating ambitions face Saudi economic curb
Saudi Aramco is pushing for a top credit rating ahead of its first international bond sale, but Saudi Arabia’s sluggish economy may curb the state-owned oil firm’s ambitions.
Caterpillar fourth-quarter profit misses estimate, shares drop 6 percent
Caterpillar Inc on Monday reported quarterly profit that widely missed Wall Street estimates, hurt by softening demand in China, a strong dollar, and higher manufacturing and freight costs, sending shares tumbling 6 percent.
Ex-NRG CEO David Crane to exercise voting rights for VTB’s stake in EN+: source
David Crane, former chief executive of U.S power company NRG Energy, will exercise the voting rights for Russian bank VTB’s stake in EN+, as part of the agreement for the United States to waive sanctions against the company previously controlled by Ole…
LSE lifts halt on En+’s London-listed GDRs available to U.S. investors
The London Stock Exchange lifted the suspension on En+ Group’s London-listed global depositary receipts (GDRs) available to U.S. investors, a spokeswoman said on Monday after Washington dropped sanctions on the Russian company.
Oil falls as U.S. adds new rigs, China weakness rattles market
Oil fell nearly 2 percent on Monday after U.S. companies added rigs for the first time this year, a signal that crude output may rise further, but the price is still on course for its strongest January gain for 14 years.
