Strong U.S. retail sales, consumer sentiment data buoy economic outlook
WASHINGTON (Reuters) – U.S. retail sales in April recorded their biggest increase in a year as Americans stepped up purchases of automobiles and a range of other goods, suggesting the economy was regaining momentum after growth almost stalled in the fi…
Dalio’s Bridgewater Associates dumps Amazon.com, Coca-Cola: filing
New York (Reuters) – Ray Dalio’s Bridgewater Associates hedge fund firm sold off its stakes in Amazon.com Inc, Coca-Cola Inc, and Gap Inc during the first quarter and added new stakes in Alphabet Inc and McDonald’s Corp, according to the latest regulat…
Mexico’s Pemex could relinquish majority stake in refineries: CFO
MEXICO CITY (Reuters) – Mexico’s state-owned oil company Pemex is seeking partners to operate its money-losing refineries and plans to “dilute” its ownership in the plants, even selling majority stakes, the firm’s financial chief said on Friday.
GM halts some U.S. SUV sales after fuel economy overstated
WASHINGTON (Reuters) – General Motors Co said on Friday it was temporarily halting sales of about 60,000 new 2016 U.S. SUVs because the vehicles’ window labels overstated their fuel efficiency.
U.S. energy bankruptcy wave surges despite recovering oil prices
HOUSTON (Reuters) – The wave of U.S. oil and gas bankruptcies surged past 60 this week, an ominous sign that the recovery of crude prices to near $50 a barrel is too little, too late for small companies that are running out of money.
Humbled hedge fund managers acquiesce to clients at Vegas confab
LAS VEGAS (Reuters) – Swaggering hedge fund managers, long known for ignoring client complaints during years of strong performance, are trying something new: listening.
Lowe’s settles U.S. claims it fired workers on medical leave
(Reuters) – Lowe’s Cos has reached an $8.6 million settlement of a U.S. agency lawsuit accusing the nation’s second-largest home improvement retailer of illegally firing workers who went on medical leave for a long time.
Silicon Valley venture capitalists raise more money, give less away
SAN FRANCISCO (Reuters) – Venture capitalists are raising money at the fastest rate in a decade, raking in about $13 billion in the first quarter of 2016.
Exclusive: Iraq oil projects face delays as companies resist spending cuts
BAGHDAD (Reuters) – International oil firms have warned Iraq that projects to increase its crude output will be delayed if the government insists on drastic spending cuts this year, a senior Iraqi oil official said on Friday.
Warning of downward spiral, IMF sees no economic upside to Brexit
LONDON (Reuters) – International Monetary Fund chief Christine Lagarde said on Friday there were no economic positives to Britain leaving the European Union and that the impact would range from “pretty bad to very, very bad”.
