BlackRock says no need to stress test mutual fund sector
LONDON (Reuters) – BlackRock, the world’s biggest asset manager, says there is no need for a stress test of whether the mutual fund industry could repay a large number of panicking investors in the event of a fresh financial crisis.
Volkswagen managers were notified about diesel probe in May 2014: sources
FRANKFURT (Reuters) – A high-ranking employee warned senior Volkswagen managers in May 2014 that U.S. regulators might examine car engine software as part of an investigation into pollution levels, two sources familiar with the matter said on Sunday.
OPEC members increasingly keen to end oil glut: Nigeria oil minister
ABUJA (Reuters) – The mood inside the Organization of the Petroleum Exporting Countries (OPEC) is shifting from mistrust to a growing consensus that a decision must be reached on how to end the global oil price rout, Nigeria’s oil minister told Reuters…
Noble Group’s LNG traders leaving to join Glencore – sources
SINGAPORE/LONDON (Reuters) – Three liquefied natural gas (LNG) traders at Asia’s biggest commodity trade house, Noble Group Ltd , including two co-heads of the team, are leaving to join rival trader Glencore , sources familiar with the matter told Reut…
Fed’s ‘dot plot’ looks increasingly out of touch on rates
SAN FRANCISCO (Reuters) – The Federal Reserve’s rate path “dot plot” has become increasingly detached from financial markets’ interest-rate projections and risks sending an overly hawkish message that may undermine the central bank’s credibility.
Southeast Asia’s record jet orders seen at risk: IATA
SINGAPORE (Reuters) – Record plane orders placed by ambitious Southeast Asian airlines could be at risk in an environment of intense competition, low profitability and turmoil in financial markets, the head of the International Air Transport Associatio…
Germany wants to introduce random emissions tests on cars
BERLIN (Reuters) – Germany wants to carry out unannounced emissions tests on all carmakers, Transport Minister Alexander Dobrindt said on Sunday, aiming to reinstate confidence in the industry that was shattered by the Volkswagen cheating scandal.
BAE Systems lines up oil exec Woodburn as next CEO: source
LONDON (Reuters) – British defense company BAE Systems has picked former oil industry executive Charles Woodburn as heir apparent to Chief Executive Ian King, a source close to the situation said on Sunday.
Iran offers mining riches post-sanctions, but investors cautious
LONDON (Reuters) – Iran’s rich deposits of zinc, copper, gold and other minerals are tempting international investors after the lifting of Western sanctions, but development of the sector will take time and problems will have to be overcome.
Africa’s big cities offer investors hope in hard times
JOHANNESBURG (Reuters) – Africa’s biggest economies have been hammered by the collapse in commodity prices over the past 18 months but there are still investment bright spots to be found.
