Shell folds U.S. shale resources unit, says U.S. head to leave
LONDON (Reuters) – Royal Dutch Shell said on Wednesday it will fold into other operations a unit dedicated to developing so-called unconventional resources, a term used by the industry to describe shale oil and gas, and that the unit’s director and U.S…
Oil rallies after loading issues for U.K. crude, U.S. gasoline demand
NEW YORK (Reuters) – Oil rallied as much as 3 percent on Wednesday with Brent prices helped by news of stalled loadings for the U.K.’s North Sea oil while U.S. crude futures rose after strong demand for gasoline offset worries about record high crude i…
Fed’s Kaplan says does not expect U.S. to enter recession this year
DALLAS (Reuters) – Dallas Federal Reserve President Robert Kaplan said on Wednesday that he does not expect the United States to enter recession this year.
Caterpillar combining two divisions, analysts see more job cuts
(Reuters) – Caterpillar Inc will combine two divisions dealing with power and energy by June, adding more details to a massive restructuring plan, and analysts were expecting more job cuts.
Solid support for Apple in iPhone encryption fight: poll
BOSTON (Reuters) – Nearly half of Americans support Apple Inc’s decision to oppose a federal court order demanding that it unlock a smartphone used by San Bernardino shooter Rizwan Farook, according to a national online Reuters/Ipsos poll.
GM, Ford, Fiat Chrysler slide on Morgan Stanley price warning
DETROIT (Reuters) – Shares of General Motors Co and Ford Motor Co fell more than 5 percent early on Wednesday after Morgan Stanley said the U.S. automakers are exposed to risks of a cyclical downturn in major markets.
U.S. new home sales tumble; services sector weakens
WASHINGTON (Reuters) – New U.S. single-family home sales tumbled in January from a 10-month high as sales in the West region plunged, but the overall housing market recovery remains intact.
The great European telecoms M&A scramble is losing momentum
BARCELONA (Reuters) – The merger and acquisition activity that has characterized the European telecoms market in recent years could soon grind to a halt, even as Orange looks to seal a potential 10 billion euro ($11 billion) deal for French rival Bouyg…
Lowe’s higher sales overshadowed by Home Depot hangover
(Reuters) – Home improvement chain Lowe’s Cos Inc reported an increase in quarterly comparable sales that paled in comparison to those of rival Home Depot Inc , despite beating Wall Street expectations.
France seeks 1.6 billion euros in back taxes from Google: source
PARIS (Reuters) – France is seeking 1.6 billion euros ($1.76 billion) in back taxes from U.S. Internet giant Google , criticized for its use of aggressive tax optimization techniques, a source at the finance ministry said on Wednesday.
