IEA chief says oil price bottoming depends on global growth
KITAKYUSHU, Japan (Reuters) – International Energy Agency (IEA) chief Fatih Birol said on Sunday that oil prices may have bottomed out, providing that the health of the global economy does not pose a concern.
With weak earnings in tow, focus turns to jobs data
NEW YORK (Reuters) – Coming off a barrage of flimsy company earnings reports that included Apple’s first revenue drop in 13 years, investors will turn to April jobs data for signs of budding resilience or further weakening in the second quarter.
German finmin criticizes Volkswagen management over bonuses: paper
FRANKFURT (Reuters) – Germany’s finance minister Wolfgang Schaeuble has criticized the executive board of scandal-ridden carmaker Volkswagen for not waiving bonuses despite bringing the company to the brink of collapse.
Air France-KLM to name Jean-Marc Janaillac as new CEO: source
PARIS (Reuters) – Air France-KLM’s board is to appoint Jean-Marc Janaillac as the Franco-Dutch airline group’s next chief executive on Tuesday to replace Alexandre de Juniac, a source close to the matter said on Saturday.
Daimler hires Deloitte for internal emissions probe
FRANKFURT (Reuters) – Daimler has hired auditor Deloitte Touche Tohmatsu to help with an internal investigation into its diesel-engine emissions technology requested by the U.S. Department of Justice, the luxury car maker said.
United Airlines cuts COO Hart’s pay by $1 million over Port Authority probe
(Reuters) – United Continental Holdings Inc said in a proxy statement Friday that it cut the pay of one of its top officers in connection with an internal probe that resulted in its chief executive’s resignation last year.
Facebook hit with lawsuit over plan to issue new stock
SAN FRANCISCO (Reuters) – A Facebook Inc shareholder filed a proposed class action lawsuit on Friday in a bid to stop the company’s plan to issue new Class C stock, calling the move an unfair deal to entrench Chief Executive Mark Zuckerberg as control…
Puerto Rico government bank reaches debt deal with some credit unions
SAN JUAN (Reuters) – Puerto Rico’s Government Development Bank said it has reached a deal with credit unions to avoid defaulting on about $33 million of debt due on Monday.
Berkshire’s Clayton sees upturn in business despite critics
OMAHA, Neb. (Reuters) – Clayton Homes, the mobile home unit of Warren Buffett’s Berkshire Hathaway Inc, said it is seeing an upturn in activity even as it defends against accusations its lending practices harm borrowers and can be racist.
Wall Street falls as earnings weigh; Dow, S&P up for month
NEW YORK (Reuters) – U.S. stocks posted their largest weekly drop in more than two months on Friday as earnings reports continued to weigh, but the S&P 500 and Dow managed to close up for April after strong showings mid-month.
