Chevron posts largest quarterly loss since 2001 on weak oil prices
HOUSTON (Reuters) – Chevron Corp, the second largest U.S.-based oil producer, posted a second-quarter loss on Friday, its largest since 2001, due to the slump in crude prices and refining income.
Mercedes pulls U.S. E-Class ad touting self-driving car
FRANKFURT (Reuters) – Mercedes-Benz has withdrawn an advert in the United States which compared its new E-class with a futuristic self-driving concept car following allegations from local consumer groups that the marketing claims were misleading.
Exxon Mobil profit misses expectations; stock slides
HOUSTON (Reuters) – Exxon Mobil Corp, the world’s largest publicly traded oil producer, posted a lower-than-expected quarterly profit on Friday due to weak crude prices and refining income, reflecting the broad malaise in the energy sector.
Investors continue equity exodus, buy bonds and emerging markets
LONDON (Reuters) – Investors pulled more money from global equity funds in the past week while buying bonds and pumping cash into emerging debt, Bank of America Merrill Lynch (BAML) said on Friday.
AB InBev clears China hurdle in SABMiller takeover deal
BRUSSELS/BEIJING (Reuters) – Brewer Anheuser-Busch InBev cleared a major hurdle toward its takeover of SABMiller with regulatory approval from China on Friday, leaving the acquisition’s future in the hands of the British company’s board.
Yen, bond yields rise as Bank of Japan action underwhelms
LONDON (Reuters) – The yen jumped on Friday and Japanese government bond yields rose the most in eight years, lifting global sovereign borrowing costs, after the Bank of Japan’s latest steps to boost growth and inflation fell short of investor expectat…
Oil rally to resume later this year, demand to offset glut: Reuters poll
(Reuters) – Oil analysts still expect a rise in the crude price this year, thanks to improving demand growth that should help offset any bearish headwinds from a stubborn supply surplus, a Reuters poll showed on Friday.
Monte dei Paschi set to reject UBS-sponsored rescue plan
MILAN (Reuters) – The board of Monte dei Paschi di Siena is set to reject a last-minute rescue proposal sponsored by Swiss bank UBS that landed as the Italian bank prepared to unveil its own plan to address regulatory concerns over its financial stab…
Xerox’s profit tops estimates on lower restructuring costs
(Reuters) – Xerox Corp reported a higher-than-expected quarterly profit as the printer and copier maker recorded lower restructuring charges.
Euro zone economic growth slows in quarter before Brexit
BRUSSELS (Reuters) – Economic growth in the euro zone slowed in the second quarter as uncertainty before the British vote to leave the European Union swirled, data showed on Friday, and economists said it could be a sign of future weaker growth.
