TrailStone buys Cargill’s power and gas group: sources
HOUSTON (Reuters) – Commodities trader and investor TrailStone Group has purchased Cargill Inc’s gas and power trading group, three sources familiar with the deal said this week.
U.S. department stores steady profitability boat even as sales slide
CHICAGO (Reuters) – U.S. department store chains, hit by slowing sales for more than two years, have used layoffs, store closings and cutbacks to maintain one aspect of stability: profit margins.
AIG to pay Buffett’s Berkshire about $10 billion in insurance deal
NEW YORK (Reuters) – American International Group Inc has agreed to pay roughly $10.2 billion to Warren Buffett’s Berkshire Hathaway Inc to take on many long-term risks on U.S. commercial insurance policies it has already written.
Uber hires Google search veteran Singhal for senior engineering post
SAN FRANCISCO (Reuters) – Ride-hailing company Uber Technologies Inc. has hired the man behind Google search to work closely with Chief Executive Travis Kalanick and help grow the company’s self-driving car program.
Fed’s Williams says need to raise rates before economy overshoots
SAN FRANCISCO (Reuters) – San Francisco Federal Reserve Bank President John Williams on Friday repeated his view that the U.S. central bank needs to reduce monetary stimulus before the economy overshoots the Fed’s employment and inflation goals and the…
Morgan Stanley, Citi plan Brexit job moves: sources
LONDON/FRANKFURT (Reuters) – U.S. banks Morgan Stanley and Citigroup have identified many of the roles that will need to be moved from Britain following its exit from the European Union, sources involved in the processes told Reuters.
Canada’s Competition Bureau reaches deal with Apple, publishers
OTTAWA (Reuters) – Canada’s business competition watchdog said on Friday it had reached an agreement with Apple Inc and three major e-book publishers that will allow retailers to offer discounts to customers.
Odebrecht group ready to return $5 billion pipeline contract to Peru
LIMA (Reuters) – A consortium controlled by Brazilian builder Odebrecht S.A. will miss a financing deadline on Monday for a natural gas pipeline project in Peru and awaits government notification that it will lose the $5 billion contract, the company s…
Societe Generale to pay $50 million to settle U.S. fraud claims
NEW YORK (Reuters) – Societe Generale agreed to pay a $50 million civil fine to settle U.S. claims that it defrauded investors in connection with the marketing and sale of residential mortgage-backed securities.
Nasdaq backs trading illiquid stocks only on listing exchange
NEW YORK (Reuters) – Nasdaq Inc will ask U.S. regulators under the Trump administration to limit the trading of shares of small companies and illiquid exchange-traded funds to the exchanges on which they are listed, the market operator said in a note …
