Oil rises as Saudis advocate cooperation to stabilize market
LONDON (Reuters) – Brent crude futures rose 2 percent on Monday, adding to strong gains last week, on increasing hopes that the market has bottomed out and as OPEC kingpin Saudi Arabia said it would work with other producers to limit oil market volatil…
AmEx to close sale of Costco card portfolio to Citi by June
(Reuters) – Credit card issuer American Express Co said on Monday it would close a previously announced deal to sell its Costco U.S. co-branded card portfolio to Citigroup Inc by June.
Global funds flee stocks, raise bond holdings to five-year high as growth fears mount
LONDON (Reuters) – Investors dumped equities in February as allocations hit the lowest level in at least five years and world stocks fell for the fourth month in a row, with fears of a global recession keeping risk appetite subdued.
Pay for Berkshire’s Abel jumped 48 percent to $40.77 million in 2015
(Reuters) – The energy unit of Warren Buffett’s Berkshire Hathaway Inc on Monday said Gregory Abel, its chairman and chief executive, saw his compensation jump 48 percent last year to $40.77 million, reflecting a large incentive award.
EU clears Dell’s purchase of EMC Corp
BRUSSELS (Reuters) – The European Commission said on Monday it had cleared Dell Inc’s planned $67 billion acquisition of data storage company EMC Corp .
Icahn offers to buy rest of Federal-Mogul to boost auto business
(Reuters) – Billionaire Carl Icahn’s investment company offered to buy the 18 percent of auto parts maker Federal-Mogul Holdings Corp that it did not own for about $213 million, as it focuses on growing its auto business.
China central bank resumes easing cycle to cushion reform pain
BEIJING/SHANGHAI (Reuters) – China’s central bank resumed its easing cycle on Monday, injecting an estimated $100 billion worth of long-term cash into the economy to cushion the pain from job layoffs and bankruptcies in industries plagued by overcapaci…
Amazon to attack UK grocery market with Morrisons deal
LONDON (Reuters) – Amazon has launched its biggest foray into food outside of the United States with a deal in Britain to offer fresh and frozen goods to customers, in some places as quickly as under one hour, in a deal with supermarket Morrisons.
Chevron mulling sale of Asian geothermal assets: Bloomberg
(Reuters) – Chevron Corp , the No. 2 U.S. oil producer, is considering a sale of its geothermal assets in Asia, Bloomberg reported citing people familiar with the matter.
U.S. funds cut recommended equity allocations in February: Reuters poll
(Reuters) – U.S.-based fund managers cut their equity holdings in February and boosted cash to a nine-month high on persistent worries about a global economic slowdown, a Reuters poll found on Monday.
