Credit Suisse’s Swiss and wealth units to run asset management
ZURICH (Reuters) – Credit Suisse is placing asset management under the twin direction of its wealth management and Swiss banking divisions, it said on Sunday, announcing a further strategy rejig after a shake-up in October.
Saudi Arabia names Khalid al-Falih energy minister to replace Naimi
DUBAI/KHOBAR, Saudi Arabia (Reuters) – Saudi Arabia, the world’s largest crude oil exporter, on Saturday appointed Khalid al-Falih, chairman of the state oil giant Saudi Aramco, as its new energy minister, replacing Ali al-Naimi, who had held the post …
Mozambique’s tuna fleet rusts as an African success story fades
MAPUTO (Reuters) – The 24 fishing boats rusting in the harbor of Mozambique’s capital were meant to be a modern tuna fleet that would rake in hard currency, create jobs and provide a cheap source of protein for one of the world’s poorest countries.
Oil up on Canada wildfire, dollar; big weekly loss for Brent
NEW YORK (Reuters) – Oil prices edged up on Friday, supported by an early dip in the dollar and a wildfire that has shrunk Canadian oil sands crude output by a third, but Brent still ended with its sharpest weekly drop in four months as investors cashe…
Judge leans Redstone’s way in trial over media mogul’s mental state
(Note language in third paragraph. Rewrites with further quotes from court, background on Viacom)
Wanted: Manufacturing whizzes to work on Tesla’s Model 3
SAN FRANCISCO (Reuters) – Technology entrepreneur Elon Musk gave a public shout-out to the sharpest minds in manufacturing this week, calling on them to come help Tesla Motors Inc build a million all-electric cars a year by 2020.
If trend stands, consumer stocks to boost market
NEW YORK (Reuters) – The U.S. stock market could get a shot in the arm next week as consumer-facing companies report earnings in a season in which the sector has so far been the overachiever.
Wall Street gives up on June rate hike by Fed after payrolls disappoint: poll
NEW YORK (Reuters) – Wall Street’s top banks have all but abandoned any expectation that the Federal Reserve will raise interest rates in June, and most now see the U.S. central bank’s next rate hike coming in September, according to a Reuters survey c…
Berkshire operating profit falls short, book value rises
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc on Friday confirmed that its first-quarter profit rose 8 percent, while operating results fell short of analyst forecasts as falling oil prices and coal demand hurt its BNSF railroad unit.
Wells Fargo told staff to keep quiet about missing papers: lawsuit
(Reuters) – A former employee accused Wells Fargo & Co of instructing workers at a call center to refrain from telling customers about lost deeds or other missing documents, and of firing the worker who called the policy unethical, according to a lawsuit made public this week.
