J.C. Penney holiday sales drop in latest setback to sector
(Reuters) – J.C. Penney Co Inc reported a decline in same-store sales for November and December, the latest department store chain to reflect the malaise in the sector as shoppers increasingly eschew brick-and-mortar stores and shop online.
Japan defends Toyota after Trump broadside over Mexican plant
TOKYO (Reuters) – The Japanese government defended Toyota Motor Corp on Friday as an “important corporate citizen” of the United States, after President-elect Donald Trump singled out the automaker and threatened to slap punitive tariffs on its Mexico…
Exclusive: Iran capitalizes on OPEC oil cut to sell millions of barrels – sources
LONDON (Reuters) – Iran has sold more than 13 million barrels of oil that it had long held on tankers at sea, capitalizing on an OPEC output cut deal from which it is exempted to regain market share and court new buyers, according to industry sources a…
Trade deficit rises for second straight month
WASHINGTON, Jan 6 (Reuters) – – The U.S. trade deficit widened for a second straight month in November as imports rose to their highest level in more than a year on higher oil prices, suggesting that trade was a significant drag on economic growth in t…
Mexico central bank sells dollars in Asia: Bloomberg
MEXICO CITY (Reuters) – Mexico’s central bank sold dollars in Asia on Friday, Bloomberg reported, after it sold dollars in Mexico and New York a day earlier to fight a slump in the peso.
Oil prices post gains on OPEC hopes, but doubts linger
LONDON (Reuters) – Oil prices edged higher on Friday as output cuts by OPEC members met with lingering concern that other producers could try to shirk their share of planned decreases aimed at curbing global oversupply.
Global stocks hold near one-and-half-year highs before U.S. jobs data
LONDON (Reuters) – World stocks held near 1-1/2 year highs and the dollar moved up from a three-week low on Friday, with investors looking ahead to U.S. jobs data to provide clues on the pace of U.S. interest rate rises this year.
Airbus reached A350 delivery target in 2016: sources
PARIS (Reuters) – Airbus reached a target for at least 50 deliveries of its A350 wide-body jetliner in 2016, two industry sources said on Friday.
Exclusive: China’s ZTE to slash about 3,000 jobs – sources
HONG KONG (Reuters) – Chinese telecom equipment maker ZTE , which is facing U.S. trade sanctions that could severely disrupt its supply chain, is slashing about 3,000 jobs, including a fifth of positions in its struggling handset business in China, com…
Samsung Electronics forecasts fourth-quarter profit at over three-year high
SEOUL (Reuters) – Samsung Electronics Co Ltd said on Friday its fourth-quarter profit likely leapt 50 percent from a year earlier to its highest level in more than three years, beating expectations on strong chip sales and a smartphone rebound.
