Airline hedges fuel rally in later dated oil prices
NEW YORK (Reuters) – Big airlines are making waves in the oil market for the first time since prices went into a tailspin nearly two years ago, betting this may be their best chance to lock in cheap jet fuel for years to come, industry and market sourc…
HSBC, RBS and Barclays plan to close 400 UK branches this year: sources
LONDON (Reuters) – Three of Britain’s largest banks are planning to close about 400 branches this year, according to people familiar with the situation, a new program of closures that could leave thousands of customers without easy access to a bank.
Indian banks set to reject Mallya’s $600 million loan repayment offer: sources
MUMBAI (Reuters) – A group of Indian lenders is set to reject businessman Vijay Mallya’s offer to repay 40 billion rupees ($600 million), less than half of what his defunct Kingfisher Airlines owes them, sources with knowledge of the matter said.
Dollar and shares lick wounds ahead of Fed minutes
London (Reuters) – The dollar edged up from a 17-month low against the yen on Wednesday, and buffeted European share prices benefited from a rebound in oil to move off their lowest level in over a month.
Nokia plans to slash 1,300 jobs in Finland
HELSINKI (Reuters) – Nokia is planning to cut about 1,300 jobs in its native Finland following its acquisition of France’s Alcatel-Lucent, the telecom network equipment maker said in a statement.
Exclusive: Russia sees oil price of $45-$50 per barrel ‘acceptable’ as it prepares for freeze deal – sources
MOSCOW (Reuters) – Russia believes an oil price at $45-$50 per barrel is acceptable to allow the global oil market to balance, as it prepares to meet leading oil producers in Doha later this month, sources familiar with Russian plans said on Wednesday….
Ackman to face investor grilling after record quarterly loss
BOSTON (Reuters) – Billionaire investor William Ackman is set to face close questioning on Wednesday when he details his hedge fund’s biggest-ever quarterly loss and explains how he plans to handle the investment that led to the fall – Valeant Pharmace…
Amazon chief Bezos defends corporate culture in letter to shareholders
SAN FRANCISCO (Reuters) – In a letter sent to shareholders on Tuesday, Amazon.com Inc’s founder and chief executive, Jeff Bezos, defended the online retailer’s corporate culture, which was the subject of a critical report by The New York Times last yea…
Top Chinese carmakers plot major push into India
NEW DELHI/BEIJING (Reuters) – China’s top carmaker SAIC Motor Corp and Great Wall Motor , its biggest maker of SUVs, are spearheading the country’s first major push into India, one of the world’s fastest growing auto markets, as growth at home stagnate…
Fiat Chrysler to invest $500 million to revamp Argentina plant
MILAN (Reuters) – Fiat Chrysler Automobiles will invest $500 million to revamp its Cordoba plant in Argentina where a new model will be produced next year.
