Saudi Aramco recruits JPMorgan, Morgan Stanley for IPO, HSBC a contender: source
(Reuters) – Oil giant Saudi Aramco [IPO-ARMO.SE] has asked JPMorgan Chase & Co and Morgan Stanley to assist with its mammoth initial public share offer and could call on another bank with access to Chinese investors, a source with direct knowledge of the matter said.
UK economy picks up in late 2016 but signs of Brexit hit appear
LONDON (Reuters) – Britain’s economy sped up at the end of 2016, data showed, but over the whole year it was weaker than previously thought and there were signs that the Brexit vote will increasingly act as a brake on growth in 2017.
Exclusive: China state firm in preliminary deal to buy Chevron’s Bangladesh gas fields – oil executives
BEIJING/DHAKA (Reuters) – China’s state-run Zhenhua Oil has signed a preliminary deal with Chevron to buy the U.S. oil major’s natural gas fields in Bangladesh that are worth about $2 billion, two Beijing-based Chinese oil executives said.
How one Chinese region shows risks of relying on heavy borrowing
SHENYANG, China (Reuters) – A flurry of construction in the Chinese city of Shenyang belies a regional economy in crisis, a striking example of the increasingly diminishing returns from a policy of investing heavily in infrastructure to prop up economi…
Switzerland’s ABB hit by $100 million South Korean fraud
ZURICH (Reuters) – Swiss engineering group ABB revealed the discovery of what it called a “sophisticated criminal scheme” in its South Korean subsidiary on Wednesday, which it expects will result in a $100 million pre-tax charge.
Global stocks top 2016 gains, dollar up before Fed minutes
LONDON (Reuters) – Global stocks hit record highs on Wednesday, pushing gains for the year above those for all of 2016, while the dollar rose before Federal Reserve minutes that will be scoured for clues on the timing of the next U.S. interest rate ris…
OPEC cuts, weak freight rates help traders profit on Asia crude routes
SINGAPORE (Reuters) – Oil traders from around the world, including the United States, Britain and Brazil, have tripled their sales to Asia as they take advantage of an emerging supply gap following OPEC-led production cuts announced late last year.
Goldman says global crude stocks likely to keep falling
(Reuters) – Goldman Sachs expects global crude oil inventories to keep falling due to production cuts and strong growth in demand, although stocks are likely to rise in the United States.
Automakers urge new EPA chief to withdraw Obama car fuel-efficiency rules
WASHINGTON (Reuters) – A trade association representing General Motors Co , Toyota Motor Corp , Volkswagen AG and nine other automakers on Tuesday asked new Environmental Protection Agency chief Scott Pruitt to withdraw an Obama administration decisio…
Burger King and Tim Hortons owner to buy Popeyes for $1.8 billion
(Reuters) – Restaurant Brands International Inc , owner of the Burger King and Tim Hortons fast-food chains, said on Tuesday it would acquire Popeyes Louisiana Kitchen for $1.8 billion in cash.
