Petrobras received bids for fuels unit in recent days: CEO
BRASILIA (Reuters) – The new chief executive of Petroleo Brasileiro SA on Thursday said the state-run oil company has received offers to buy a stake in its fuels-retailing unit BR Distribuidora SA in recent days, boosting plans to raise cash and cut de…
U.S. strikes back at judge’s decision that MetLife not ‘too big to fail’
WASHINGTON (Reuters) – The U.S. government laid out its arguments against a federal judge’s decision to strike down the designation of life insurer MetLife Inc as “too big to fail” in a brief filed late on Thursday, showing how it intends to defend a k…
Dead money: Battle for Japanese inheritances heats up
TOKYO (Reuters) – Elderly Japanese, among the world’s richest retirees, are flocking to inheritance advisers, tackling historical taboos on discussing death and providing a rare avenue of growth for the country’s brokerages and banks.
Sumner Redstone moves to oust five Viacom directors including CEO from board
NEW YORK/SAN FRANCISCO (Reuters) – Sumner Redstone removed five of Viacom Inc’s directors, including Chief Executive Philippe Dauman, from the board of the media company he controls on Thursday, a big step toward a potential management shake-up of the…
U.S. gun shares extend gains after strong Smith & Wesson earnings
SAN FRANCISCO (Reuters) – Shares of firearm makers surged on Thursday after a strong quarterly report from Smith & Wesson Holding Corp , adding to gains this week after a shooting at a gay nightclub in Florida in which 49 people were killed.
Ericsson faces U.S. corruption probe: Swedish newspaper
STOCKHOLM (Reuters) – Swedish mobile telecom gear maker Ericsson is being investigated by U.S. authorities over possible corruption related to its business in China, Swedish daily Svenska Dagbladet (SvD) reported late on Thursday, citing unnamed source…
VW bets on electric cars, services to recover from crisis
WOLFSBURG, Germany (Reuters) – Volkswagen will invest billions of euros in electric cars, ride-hailing and automated driving to become a world leader in green transport by 2025, it said on Thursday, as it reshapes its business following its diesel emi…
Wall Street rebounds, snaps five-day losing streak
(Reuters) – Wall Street closed higher on Thursday as investors digested the implications of a British lawmaker’s death on the country’s impending referendum on whether to leave the European Union.
Cosmetics maker Revlon to buy Elizabeth Arden in $870 million deal
(Reuters) – Cosmetics maker Revlon Inc has agreed to buy Elizabeth Arden Inc in an $870 million deal to strengthen its skincare and fragrance business and expand in high-growth markets including the Asia-Pacific region.
21st Century Fox names Stacey Snider as CEO of film studio unit
(Reuters) – Twenty-First Century Fox Inc said Jim Gianopulos would step down as chief executive of its film studio business in June next year and co-Chairman Stacey Snider would succeed him.
