Citigroup names new chairman, keeps post separate from CEO
The board of Citigroup Inc on Monday named one its independent members to be its new chairman, keeping the post separate from Chief Executive Mike Corbat.
Oil stocks lift S&P 500; Apple pushes Nasdaq lower
The S&P 500 and the Dow Jones Industrial Average rose on Monday, as oil prices lifted energy stocks and defensive sectors such as real estate and utilities gained, but a drop in Apple’s shares dragged down the Nasdaq.
Amazon drops free-shipping minimum in race for holiday sales
Amazon.com Inc said on Monday it would offer free shipping with no purchase minimum for the first time this holiday season, heating up the competition with Walmart Inc and other rivals vying for customers’ Christmas shopping.
U.S. reimposes Iran sanctions, Tehran decries ‘bullying’
The United States on Monday restored sanctions targeting Iran’s oil, banking and transportation sectors and threatened more action to stop its “outlaw” policies, steps the Islamic Republic called economic warfare and vowed to defy.
Iran says actions taken to continue trade after U.S. sanctions
Iran said on Monday it has taken necessary banking measures to continue trade with its partners after the United States reimposed sanctions on Tehran’s energy and financial sectors, Iranian state TV quoted the head of the country’s Central Bank Abdolna…
Oil sanctions already costing Iran billions since May, U.S. official says
Sanctions have already cost Iran billions of dollars in oil revenue since May when U.S. President Donald Trump pulled out of the nuclear deal, U.S. Special Representative for Iran Brian Hook told reporters on a call on Monday.
Britain’s Lloyds to axe 6,000 jobs: Sky News
Britain’s Lloyds Banking Group Plc will cut around 6,000 jobs, Sky News reported https://news.sky.com/story/lloyds-to-create-2000-jobs-in-drive-to-digitise-banking-giant-11545673 on Monday.
U.S. renews Iran sanctions, grants oil waivers to China, seven others
The United States snapped sanctions back in place on Monday to choke Iran’s oil and shipping industries, while temporarily allowing top customers such as China and India to keep buying crude from the Islamic Republic.
Oil stocks, Berkshire lift S&P 500; Apple pushes Nasdaq lower
The S&P 500 and the Dow Jones Industrial Average rose on Monday, supported by gains in energy stocks and strong results from Berkshire Hathaway Inc, while the Nasdaq was dragged down by a 3 percent drop in Apple Inc shares.
Ex-Wall Street banker’s insider trading conviction overturned
A divided federal appeals court on Monday overturned the insider trading conviction of a former Wall Street investment banker accused of passing tips about five mergers in the healthcare industry to his father, and ordered a new trial.
