Oil breaks above $60/bbl, but doubts about growth curb gains
Oil prices rose nearly 3 percent on Monday, clawing back some of last week’s steep losses, but gains were capped by uncertainty over global economic growth and further signs of increasing supply, including record Saudi production.
Wall Street rebounds on holiday season hopes
U.S. stocks rebounded on Monday after two bruising weeks, as investors picked up beaten-down energy and financial stocks, while retailers gained on hopes of robust sales on the largest online shopping day of the year.
Bitcoin sinks as cryptocurrency sell-off gathers pace
Bitcoin plunged more than 12 percent on Monday, extending falls in recent weeks in a broad-based selloff in digital currencies as sentiment sours.
Exclusive: Venezuela rejected BP bid to buy Total’s stake in gas block – sources
Venezuela’s oil ministry last month turned down a proposal by BP to buy Total’s stake in a promising but inactive natural gas project along the maritime border with Trinidad and Tobago, five people briefed on the matter said.
U.S. top court leans towards allowing Apple App Store antitrust suit
U.S. Supreme Court justices on Monday appeared open to letting a lawsuit proceed against Apple Inc that accused it of breaking federal antitrust laws by monopolizing the market for iPhone software applications and causing consumers to overpay.
Cyber Monday set to become record U.S. online shopping day
Cyber Monday was on track to bring in a record $7.8 billion in U.S. online sales, but will also test the limits of retailers’ e-commerce operations as millions of shoppers scour for steep discounts on everything from Lego sets to big-screen TVs.
Campbell ends proxy fight with Third Point, adds directors
Campbell Soup and Third Point LLC settled their proxy contest on Monday by adding two of the hedge fund’s nominees to the U.S. food company’s board and giving the activist investor a say in selecting Campbell’s next CEO, the company said.
GM to slash jobs and production as U.S. sedan sales sink
General Motors Co said on Monday it will cut production of slow-selling models and slash its North American workforce in the face of a declining market for traditional gas-powered sedans, shifting more investment to electric and autonomous vehicles.
Canada blindsided by GM Oshawa closure, workers walk out in protest
Hundreds of workers walked off the job and Canadian Prime Minister Justin Trudeau expressed “deep disappointment” after General Motors Co on Monday announced the closure of its Oshawa plant, catching governments and employees by surprise.
Wall Street regains stride after two weeks on holiday shopping optimism
U.S. stocks rebounded on Monday after two bruising weeks, as investors bought into beaten down sectors such as energy and financials, while retailers gained on hopes of blockbuster sales on the largest online shopping day of the year.
