Wells Fargo chairman and CEO buy shares as bank aims to bounce back
(Reuters) – Wells Fargo & Co Chief Executive Tim Sloan and Chairman Stephen Sanger together bought nearly 100,000 shares of the company’s stock as the bank tries to bounce back from a sales scandal that tarnished its once-spotless image as an industry leader.
Boeing to lay off hundreds more engineers: source
NEW YORK (Reuters) – Boeing Co warned employees on Monday it planned another round of involuntary layoffs that would affect hundreds of engineers at its commercial airplanes unit, according to a source and a memo seen by Reuters.
U.S. judge approves $2.6 billion fine for Odebrecht in corruption case
NEW YORK (Reuters) – A U.S. judge on Monday sentenced Brazilian engineering company Odebrecht SA to pay $2.6 billion in fines in a massive criminal corruption case, signing off on a plea deal between the company and U.S., Brazilian and Swiss authoritie…
Chinese automakers SAIC, Geely turn up heat on global rivals
SHANGHAI (Reuters) – Global automakers face fresh threats to their profits in China from domestic automakers SAIC and Geely, which are launching new models and marketing strategies to challenge better-known foreign brands in the world’s largest car mar…
Blackstone to buy EagleClaw Midstream for about $2 billion
(Reuters) – EagleClaw Midstream Ventures LLC, the largest privately held operator of pipelines and processing facilities in West Texas’ Delaware Basin, said it agreed to be bought by funds managed by Blackstone Group LP for about $2 billion.
Wells Fargo’s banking agreement with Nevada extended
(Reuters) – Wells Fargo & Co said on Monday the State of Nevada had extended its banking agreement with the scandal-hit lender until 2021.
Wall Street rallies in low volume led by banks, tech
NEW YORK (Reuters) – U.S. stocks bounced back on Monday after the S&P 500 closed the previous session at a two-month low, in a broad rally led by recently beaten-down bank and technology shares.
The long, rough ride ahead for ‘Made in America’
RUSTON, Louisiana (Reuters) – Mini motorcycle and go-kart maker Monster Moto made a big bet on U.S. manufacturing by moving assembly to this Louisiana town in 2016 from China.
Undaunted by oil bust, financiers pour billions into U.S. shale
HOUSTON (Reuters) – Investors who took a hit last year when dozens of U.S. shale producers filed for bankruptcy are already making big new bets on the industry’s resurgence.
Steel, stimulus drive China’s strongest economic growth since 2015
BEIJING (Reuters) – China’s economy grew faster than expected in the first quarter as higher government infrastructure spending and a gravity-defying property boom helped boost industrial output by the most in over two years.
