Thousands of rail workers back at Buffett’s BNSF as volumes rise
SEATTLE (Reuters) – BNSF Railway Co has called back roughly 4,000 of the 5,000 workers who were furloughed across its system last year, reflecting stronger volumes of coal, grain and intermodal containers and trailers, a spokesman said.
Glencore puts second coal mine on block amid corporate rethink
SYDNEY (Reuters) – Glencore on Monday said it was looking to sell a second Australian coal mine, part of the Swiss-based resource giant’s rethink on how it deploys capital as its reins in debt and commodities prices rise.
U.S. gasoline price jumps, crude falls as Harvey hits refiners
NEW YORK (Reuters) – Gasoline prices surged to two-year highs on Monday as Tropical Storm Harvey knocked out several refineries and disrupted fuel production, while a back up in crude supplies pushed U.S. crude oil futures down more than 2.5 percent.
German government says Air Berlin bridging loan on schedule
BERLIN (Reuters) – A German government bridging loan for insolvent Air Berlin has not yet been paid out but the timetable for disbursing the credit is on schedule, a spokeswoman for the Economy Ministry said on Monday.
GE shifts strategy, financial targets for digital business after missteps
NEW YORK (Reuters) – General Electric Co wants its industrial software business to cut costs and lift profits next year under new chief executive John Flannery, and is considering expanded partnerships and the possible sale of some equity in the unit, …
Western Digital group finalizing $17 billion deal for Toshiba chip unit: source
TOKYO (Reuters) – A consortium led by Western Digital Corp is close to an agreement to buy Toshiba Corp’s $17.4 billion chip business, with the U.S. firm’s CEO in Tokyo to finalize the long and contentious talks, a person familiar with the matter sai…
Braving security fears, Chinese seek ‘Silk Road’ riches in Pakistan
LAHORE, Pakistan/SHANGHAI (Reuters) – Zhang Yang, a businessman from Chongqing in southwest China, is searching online forums for fellow stout-hearted entrepreneurs willing to cast aside security concerns and join him on a scouting mission to Pakistan….
Gasoline soars, dollar weakens as Tropical Storm Harvey rages
LONDON (Reuters) – U.S. gasoline futures jumped to two-year highs while an already weak dollar hit 16-month lows against a basket of currencies on Monday as Tropical Storm Harvey pummelled the heart of the U.S. energy sector and raised concerns about t…
Harvey throws a wrench into U.S. energy engine
HOUSTON (Reuters) – A hurricane in the heart of the U.S. energy industry is set to curtail near-record U.S. oil production for several weeks, with the impact expected to reverberate throughout the country and across international energy markets.
CBS agrees to buy embattled Australian customer Ten Network
SYDNEY (Reuters) – CBS Corp , the United States’ most-watched television network, on Monday said it plans to buy its biggest customer in Australia, Ten Network Holdings Ltd , and launch its streaming service in the country.
