KPMG to layoff 400 employees in South Africa in latest shake-up after scandal
JOHANNESBURG (Reuters) – Global auditor KPMG said on Monday it will axe up to 400 staff in South Africa in its latest shake-up following a corruption scandal in the country, which saw it lose several major clients.
Saudi Aramco restructures non-oil assets ahead of IPO: sources
DHAHRAN, Saudi Arabia/DUBAI (Reuters) – Saudi Aramco has created a subsidiary to house its multibillion-dollar pension fund and could spin off its aviation division, sources said, as it restructures some assets not related to oil and gas ahead of its p…
Oil down as U.S. supply grows, OPEC considers higher output
LONDON (Reuters) – Oil prices fell on Monday as U.S. production hit a record high and OPEC members considered boosting supply.
Former State Street executive faces U.S. fraud trial
BOSTON (Reuters) – A former executive at State Street Corp is set to face trial on U.S. charges that he participated in a scheme to defraud the bank’s clients by charging them secret commissions on billions of dollars in trades.
Big Tesla investors look like firewall for Elon Musk
(Reuters) – Tesla Inc Chief Executive Elon Musk faces votes at Tuesday’s shareholder meeting that will challenge his grip on the electric carmaker, but he may be able to count on some powerful friends: big fund managers likely to be fans.
Oil down as U.S. supply grows, OPEC mulls higher output
LONDON (Reuters) – Oil prices fell on Monday as U.S. production hit a record high and as OPEC members considered boosting supply.
China’s Xiaomi plans $3 billion CDRs in blockbuster July IPO: sources
HONG KONG (Reuters/IFR) – Chinese smartphone and connected device maker Xiaomi plans to raise up to 30 percent of its blockbuster $10 billion IPO by selling shares in mainland China while offering the remainder in Hong Kong, said people with knowledge of the matter.
Mercedes-Benz recalls 1,426 Sprinter vans in Russia: standards agency
MOSCOW (Reuters) – Russia’s technical safety watchdog Rosstandart said on Monday it had approved a plan of action with regards to a voluntary recall of 1,426 Mercedes-Benz Sprinter Classic cars sold in October-December of 2017.
Hyundai Motor says reviews investing in contract manufacturing
SEOUL (Reuters) – Hyundai Motor on Monday conducted due diligence on a contract car manufacturing plant site for possible investment, as the South Korean firm seeks ways to cut costs and conserve capital to develop new technologies such as electric ve…
Global shares shrug off trade tensions as U.S. data reassures
LONDON (Reuters) – Global shares rose on Monday as worries over a trade war between the United States and other major economies took a back seat, with investors focusing on an easing of political risks in Europe and strong U.S. jobs data.
