Tech, industrials lift Wall St.; financials recover
(Reuters) – Wall Street’s main indexes were higher on Wednesday, led by technology and industrial stocks as well as a recovery in the financial sector.
In race for top spot, VW says vehicle sales up 4.3 percent in 2017
FRANKFURT (Reuters) – Volkswagen (VW) reported a 4.3 percent rise in 2017 sales to 10.7 million vehicles, staying ahead of Toyota in the race to keep the title of world’s biggest carmaker although Renault-Nissan has forecast it would go top.
Rolls-Royce shares jump as commercial marine business goes on block
LONDON (Reuters) – Rolls-Royce is considering the sale of its loss-making commercial marine business in another shake-up by Chief Executive Warren East that will streamline its activities into civil aerospace, defense and power system units.
Mining, demand for heating power U.S. industrial production
WASHINGTON (Reuters) – U.S. industrial production increased more than expected in December as unseasonably cold weather at the end of the month boosted demand for heating, but manufacturing output barely rose, pointing to moderate growth in the industr…
Banks expected to share tiny proportion of mammoth Saudi Aramco IPO
LONDON (Reuters) – The banks that will advise and execute Saudi Aramco’s stock market listing are expected to share a tiny proportion of the $100 billion Riyadh hopes to raise in its initial public offering, according to banking sources and industry in…
Goldman investors rattled by latest plunge in bond trading
(Reuters) – Goldman Sachs Group Inc on Wednesday reported a sharp drop in trading revenue that renewed questions about its ability to revive a moribund profit driver or find business to replace it, sending shares down 3 percent.
Tech, industrials lead Wall Street higher, banks drop
(Reuters) – Wall Street’s main indexes rose on Wednesday, led by gains in technology and industrial stocks, but losses in Goldman Sachs and Bank of America dragged down bank shares.
In replacing Dudley, NY Fed aims to avoid political pitfalls
NEW YORK (Reuters) – Unions and groups advocating for retirees, teachers, housing, and workers’ benefits are among those visiting the ornate conference rooms of the Federal Reserve Bank of New York to lobby for a less conventional candidate to serve as…
SandRidge to meet with investor Icahn to quell rising tensions
HOUSTON (Reuters) – SandRidge Energy Inc plans to meet with activist investor Carl Icahn on Wednesday over his demands for a board shake-up and other governance changes, part of a bid by the U.S. shale oil producer to quell tensions with its largest s…
U.S. approval to close Glencore’s HNA deal seen by end-June: sources
LONDON (Reuters) – Swiss trader and miner Glencore expects to secure U.S. approval by the end of June on the U.S. portion of a deal to sell a 51 percent stake in its storage and logistics business to China’s HNA Group, sources familiar with the matter…
