Global oil majors look to shed refineries as crude prices rebound
NEW YORK (Reuters) – Global oil majors Chevron Corp and Royal Dutch Shell Plc are putting small refineries on the auction block as they look to trim lower-margin assets in the face of headwinds from rising crude oil prices.
MillerCoors gets Blue Moon ‘craft beer’ lawsuit thrown out
(Reuters) – MillerCoors LLC won the dismissal of a proposed class action lawsuit by a self-described beer aficionado who said the brewing giant tricked consumers into paying premium prices for Blue Moon by falsely portraying it as “craft beer.”
Exclusive: Bayer explores sale of radiology business – sources
NEW YORK/FRANKFURT (Reuters) – Bayer AG , the German chemicals and healthcare company trying to acquire Monsanto Co , is exploring a sale of its radiology supplies unit that could be worth more than $3 billion, according to people familiar with the mat…
British companies prepare for long night to possible Brexit
LONDON (Reuters) – British companies are preparing for the possibility that the country will vote to leave the European Union with extra funds, pre-written statements and plans for late-night vigils by teams of consultants.
Bullard, down to one rate hike, says Fed communication confusing markets
WASHINGTON (Reuters) – The U.S. economy may only need one rate hike for as long as 2-1/2 years and the Federal Reserve is eroding its credibility by indicating otherwise, St. Louis Fed President James Bullard said on Friday in arguing for an overhaul o…
U.S. housing starts hurt by weakness in multi-family units
WASHINGTON (Reuters) – U.S. housing starts slipped in May as the construction of multi-family housing units dropped, but further gains in building permits signaled a rebound that would support economic growth in the second quarter.
Barclays labels $1.0 billion lawsuit over 2008 fundraising ‘misconceived’
LONDON (Reuters) – Barclays has described as “fundamentally misconceived” a $1.0 billion-plus lawsuit brought by British financier Amanda Staveley over the bank’s emergency fundraising from Gulf investors at the height of the credit crisis in 2008.
Mitsubishi plans $600 million compensation for four models over mileage cheating
TOKYO (Reuters) – Japan’s Mitsubishi Motors Corp said it plans to give owners of four minivehicles close to $1,000 in compensation for its overstating of mileage readings, part of reimbursement costs that will total at least $600 million.
Sell-off abates as Brexit opinion seen shifting
LONDON (Reuters) – Shares, oil and bond yields rose on Friday after a tumultuous week and as campaigning for Britain’s EU membership vote next week was suspended after the killing of a pro-“Remain” politician.
Investors back rivals Uber and Didi, raising eyebrows
SAN FRANCISCO (Reuters) – Ride-hailing companies Uber and Didi have brought many new dimensions to the startup industry, such as making billion-dollar-plus funding rounds routine.
