Oil hits six-month highs on supply outages, Goldman forecast
NEW YORK/LONDON (Reuters) – Oil prices hit six-month highs on Monday on worries about global supply outages and as long-time bear Goldman Sachs sounded more positive on the market, although a stockpile build at the U.S. storage hub for crude futures li…
Verizon, striking unions set talks after meeting with U.S. official
(Reuters) – Verizon Communications Inc and representatives from two striking unions will return to the negotiating table on Tuesday after a weekend meeting with U.S. Secretary of Labor Thomas Perez.
Pfizer to buy Anacor in $5.2 billion deal for access to eczema gel
(Reuters) – Pfizer Inc is buying Anacor Pharmaceuticals Inc in a $5.2 billion deal to add an eczema gel to its portfolio, just a month after the U.S. drug major scrapped plans to acquire Allergan Plc .
Gannett raises Tribune offer to about $864 million including debt
(Reuters) – Gannett Co Inc , the publisher of USA Today, raised its unsolicited offer for Tribune Publishing Co to $15 per share from $12.25, valuing the publisher of the Chicago Tribune and the Los Angeles Times at about $475 million.
Delta trims growth in flights as rivals’ expansion hurts prices
(Reuters) – Delta Air Lines Inc on Monday said it will fly fewer seats this winter than it had planned and defer the 2018 delivery of four large aircraft, as extra flights by rivals threaten to depress its ticket prices.
German state refused to clear VW management but relented: source
BERLIN (Reuters) – Volkswagen shareholder Lower Saxony wanted to withhold its backing for the carmaker’s top management at a supervisory board meeting but relented to avoid further damaging the firm, a source close to the German federal state said.
HSBC axes 840 IT jobs in Britain in first big wave of planned cuts
LONDON (Reuters) – HSBC , Europe’s largest bank, started laying off 840 information technology workers in Britain on Monday, the first big tranche of redundancies under a restructuring plan that will eliminate 8,000 British jobs by the end of next year…
Domestic focus may limit clout of $2 trillion Saudi fund
DUBAI (Reuters) – Saudi Arabia aims to create the world’s biggest sovereign wealth fund, a $2 trillion behemoth that can throw its weight around global markets, but the fund’s growth abroad is likely to be slowed by its responsibility for aiding the ec…
China needs the private sector to step up
BEIJING (Reuters) – Xia Xiaokang and Bruno Chen, who both run private-sector companies, are the sort of businessmen that Chinese leaders are increasingly concerned about as economic growth slows.
Hyundai raids Bentley to turbo-charge Genesis luxury drive
BEIJING (Reuters) – After poaching Bentley’s design chief last year, Hyundai Motor Co said on Monday that it has also secured the services of the luxury marquee’s exterior designer.
