OPEC stands aloof of oil price regulation: Russian energy minister
MOSCOW (Reuters) – Decision-making within the OPEC has become more complicated and since 2008 the international oil cartel has taken no action to regulate the global oil market, Russian Energy Minister Alexander Novak said on Wednesday.
Exclusive: Verizon set to make Yahoo’s bidder short list – sources
(Reuters) – Verizon Communications Inc was set on Tuesday to advance to the second stage of bidding for Yahoo Inc’s core assets, as the U.S. internet company went through offers to put together a short list, people familiar with the matter said.
Doubts cloud Malaysia Airlines recovery after abrupt CEO exit
KUALA LUMPUR (Reuters) – Malaysia Airlines said chief executive Christoph Mueller would step down little more than a year after joining the struggling carrier in September, an early departure that raises concerns over the future of the aviation veteran…
Apple refused China request for source code in last two years: lawyer
WASHINGTON (Reuters) – Apple Inc has been asked by Chinese authorities within the last two years to hand over its source code but refused, the company’s top lawyer told lawmakers on Tuesday in response to U.S. law enforcement criticism of its stance o…
China’s CIC, KKR consortium in talks to buy control of Yum China unit: sources
HONG KONG/SINGAPORE (Reuters) – A group of investors comprising sovereign wealth fund China Investment Corp (CIC), KKR & Co and Baring Private Equity Asia is in talks to buy a controlling stake in Yum Brands Inc’s China unit, people familiar with the matter said.
Once a mainstay, Algerian crude returns to U.S. East Coast
NEW YORK (Reuters) – Phillips 66 has purchased a cargo of Algerian crude oil for its Bayway refinery in New Jersey for the first time since 2013, two sources said, the latest U.S. refiner on the East Coast to shun domestic crudes in favor of cheaper im…
U.S., other countries call for urgent action on steel overcapacity
WASHINGTON (Reuters) – The United States and seven other countries called on Tuesday for urgent action to address global steel overcapacity, a day after China and other major steel producing countries failed to agree on measures to tackle an industry c…
Yahoo results edge past estimates in good sign for sale of business
San Francisco (Reuters) – Yahoo Inc’s first-quarter results beat Wall Street estimates by a hair on Tuesday in what was taken as a good sign for the web pioneer’s plan to auction its core business.
Intel to cut up to 12,000 jobs as PC industry swoons
(Reuters) – Intel Corp said on Tuesday it would cut up to 12,000 jobs globally, or 11 percent of its workforce, as it refocuses its business towards making microchips that power data centers and Internet connected devices and away from the declining p…
U.S. probes tax avoidance schemes mentioned in Panama papers: Guardian
(Reuters) – The U.S. Department of Justice is investigating the tax avoidance claims revealed in the release of the Panama Papers, the Guardian reported on Tuesday.
