Russia says completes Bashneft sale to Rosneft for $5.3 billion
MOSCOW (Reuters) – The Russian government has completed the sale of a controlling stake in mid-sized oil producer Bashneft to the Kremlin-owned Rosneft for 329.69 billion roubles ($5.30 billion), the economy ministry said on Wednesday.
Energy ministers from OPEC and Russia hold informal talks in Istanbul
ISTANBUL (Reuters) – Energy ministers from Qatar, the United Arab Emirates, Algeria, Venezuela and Russia began informal closed-door talks with the secretary general of OPEC in Istanbul on Wednesday as they try to coordinate efforts to rebalance the oi…
Tesla, SolarCity shareholders vote November 17 on merger
(Reuters) – Tesla Motors Inc and SolarCity Corp said Wednesday in a U.S. securities filing that a vote to merge the two California-based companies will take place on Nov. 17.
Samsung slashes third quarter profit estimate by a third after pulling plug on Note 7
SEOUL (Reuters) – Samsung Electronics Co slashed its quarterly profit estimate by a third on Wednesday, soaking up a $2.3 billion hit from ditching its flagship smartphone in what could be one of the costliest product safety failures in tech history.
U.S., Canada to continue lumber trade talks as deadline passes
WASHINGTON (Reuters) – The top U.S. and Canadian trade negotiators said on Wednesday they would continue talks toward a new trade agreement on softwood lumber, despite the expiration of a “standstill” period prohibiting legal challenges over the long-s…
Fed can be ‘gentle’ in hiking rates, Dudley says
ALBANY, N.Y. (Reuters) – The Federal Reserve can be “gentle” in removing monetary stimulus since U.S. inflation remains low and the economic expansion could last five or more years, one of the most influential Fed policymakers said on Wednesday.
BMW recalls 33,026 cars in Russia: watchdog
MOSCOW (Reuters) – Russian standards agency Rosstandart said on Wednesday it had been informed about a voluntary recall by German carmaker BMW of 33,026 cars of the X3 F25 and X4 F26 models.
Sprint plans to raise $3.5 billion via sale, lease-back of airwaves
(Reuters) – Sprint Corp , the No. 4 U.S. wireless carrier, said on Wednesday it planned to raise an initial $3.5 billion by mortgaging about 14 percent of its wireless airwaves.
Lloyds Banking Group cuts 1,230 jobs as part of strategic overhaul
LONDON (Reuters) – State-backed Lloyds Banking Group said on Wednesday it planned to ax 1,230 jobs as part of a three-year restructuring plan aimed at cutting costs and improving returns for shareholders.
Potential oil output deal prompts another worry: a shortage
ISTANBUL (Reuters) – While OPEC and other big crude producers work toward a deal to cap production to erode a glut, industry executives are concerned the sharp drop in investment that followed the oil price crash could lead to another crisis – a supply…
