Oil hits one-year high as Russia ready to join output caps
NEW YORK (Reuters) – Oil prices jumped as much as 3 percent on Monday, with Brent hitting a one-year high, after Russia said it was ready to join OPEC in curbing crude output and Algeria called for similar commitments from other non-OPEC producers.
Apple stock hits highest since December on Samsung Note 7 fire crisis
SAN FRANCISCO (Reuters) – Apple Inc’s stock on Monday jumped 2.3 percent, reaching a high not seen since December, after rival Samsung Electronics Co Ltd suspended production of its flagship Galaxy Note 7 smartphones following reports of fires in rep…
GE confirms interest in $2 billion Nigeria railway concession
LAGOS (Reuters) – General Electric (GE) confirmed its a “keen interest” in acquiring a Nigeria railway concession project worth around $2 billion, the U.S. company said on Monday.
Bristol lung-cancer setback puts rival Merck drug in driver seat
(Reuters) – New data is likely to prompt doctors to abandon Bristol-Myers Squibb’s immunotherapy Opdivo in favor of Merck & Co’s rival Keytruda in a large segment of the lucrative lung cancer market, analysts said on Monday. The results of a closely watched clinical trial sent Bristol’s shares plunging 10 percent. The data, presented at a medical meeting on Sunday, showed that lung cancer patients fared worse on Opdivo than those on chemotherapy. Merck shares rose nearly 2 percent on stron
Greece gets positive review but euro zone withholds part of new loan payment
LUXEMBOURG (Reuters) – Euro zone finance ministers gave Greece a positive review of its reforms on Monday but divided up the latest tranche of aid to Athens, disbursing a 1.1 billion euro loan but postponing its decision on a further 1.7 billion payout…
EU’s Vestager says not investigating Google’s European tax deals
BRUSSELS (Reuters) – EU regulators who are investigating whether Alphabet unit Google is abusing its market power have has not extended their scrutiny to its tax deals with national authorities across Europe, the EU’s antitrust chief said on Monday.
Religious investors lose faith in Wells Fargo after scandal
BOSTON(Reuters) – A group of nuns and other religiously-affiliated investors have lost faith in embattled Wells Fargo & Co and filed a shareholder resolution calling on the bank to report on the root causes of a fake accounts scandal that led to a $190 million settlement struck with regulators last month.
Deutsche Bank forced into rethink as strategy overhaul stutters: sources
FRANKFURT (Reuters) – Threatened with a multi-billion-dollar fine from U.S. regulators, Deutsche Bank’s management is rethinking elements of its year-old strategic overhaul that has made faltering progress, people familiar with the matter said.
Syngenta: ChemChina’s bridge financing ‘committed and irrevocable’
ZURICH (Reuters) – Bridge financing is “committed and irrevocable” for ChemChina’s $43 billion takeover of Syngenta , a spokeswoman for the Swiss chemicals maker said on Monday, following a report on Chinese news outlet Caixin that the acquisition had …
Fiat Chrysler targets kids though social media to sell minivan
DETROIT (Reuters) – Fiat Chrysler Automobiles, which popularized the minivan three decades ago and remains its top seller, is seeking to stay on top with a social media campaign targeting its new Chrysler Pacifica model directly at the people squabblin…
