Tillerson to hand over reins to Exxon’s president Woods
(Reuters) – Exxon Mobil Corp said on Wednesday its president, Darren Woods, will become chief executive and chairman in January following the retirement of Rex Tillerson, who is U.S. President-elect Donald Trump’s choice for secretary of state.
U.S. IPOs set to rebound after dismal 2016
(Reuters) – The U.S. IPO market is expected to bounce back next year after a forgettable 2016, fueled by a sunnier economic outlook and a bit more certainty following the presidential election – factors that encouraged the Federal Reserve to hike inter…
GE to sell $3 billion industrial solutions business
(Reuters) – General Electric Co said on Wednesday it would sell its $3 billion industrial solutions business, which makes electrical equipment, as part of a push to focus on its core businesses.
Wall St. slides after Fed raises rates; energy weighs
NEW YORK (Reuters) – U.S. stocks fell the most in two months on Wednesday after the Federal Reserve raised interest rates by a quarter point and signaled hikes could come next year at a faster pace than some expected.
China may penalize U.S. automaker over price-fixing; GM, Ford shares off
(Reuters) – Shares of U.S. automakers General Motors Co and Ford Motor Co skidded on Wednesday after a Chinese official warned the government could slap a penalty on an unnamed U.S. automaker for monopolistic behavior.
Caesars unit’s bank lenders need more time to resolve dispute: lawyer
CHICAGO (Reuters) – Bank lenders of Caesars Entertainment Corp’s bankrupt operating unit need more time to resolve a dispute over the terms of their recovery, a lawyer said in court on Wednesday.
Barclays sees early U.S. rate increase unlikely
NEW YORK (Reuters) – The U.S. Federal Reserve is unlikely to raise short-term interest rates in early 2017 if the U.S. economic expansion slows and the Trump administration introduces tariffs that would hurt American exports, Barclays economists said o…
U.S. retail sales, industrial output data point to slowing growth
WASHINGTON (Reuters) – U.S. retail sales barely rose in November and industrial production recorded its biggest drop in eight months, suggesting some loss of momentum in economic growth in the fourth quarter.
VW’s bestselling Audi under microscope after EU emissions tests
BRUSSELS/BERLIN (Reuters) – Audi’s top-selling model released excessive toxic diesel emissions in results from lab tests run by the European Commission and seen by Reuters, raising suspicions of wrongdoing at Volkswagen’s luxury division.
Goldman names Solomon, Schwartz as Cohn’s successors
(Reuters) – Goldman Sachs Group Inc promoted company veterans David Solomon and Harvey Schwartz as presidents and co-chief operating officers on Wednesday, setting up the two men to compete to replace Chief Executive Officer Lloyd Blankfein.
