CEOs, venture backers lose big as LinkedIn, Tableau shares tumble
NEW YORK (Reuters) – LinkedIn Corp Executive Chairman Reid Hoffman lost almost half his $2.8 billion fortune on paper Friday as shares of his social media company suffered their largest drop on record. He was not alone in taking heavy losses.
Celgene, Gilead Sciences shares could rise 30 percent: Barron’s
NEW YORK (Reuters) – The tumble in share prices for biotechnology stocks has created some buying opportunities, with drugmakers Celgene Corp and Gilead Sciences poised for a 30 percent rise over the next year, Barron’s said.
U.N. agency seeks to end rift on new aircraft emission rules
MONTREAL/WASHINGTON (Reuters) – Europe and the United States tried to bridge differences over emissions standards for aircraft on Sunday as global aviation leaders prepared to adopt new rules that could affect Boeing Co and Airbus Group’s production of…
U.S. retail sales and Yellen testimony in focus
LONDON (Reuters) – Global markets have been in turmoil since the start of the year, with stocks and commodities prices reeling, eroding inflation and making central banks increasingly dovish – a trend that could continue with more weak economic data.
Japan’s Tepco works hard to pull out from government control
TOKYO (Reuters) – The Japanese government fund may reduce its stake in Tokyo Electric Power Co to below 50 percent in 2017 if the company achieves its goals including its first bond issuance in six years, the company’s president said.
Volkswagen to offer generous compensation for U.S. customers: fund head
FRANKFURT (Reuters) – Volkswagen will offer generous compensation packages to the roughly 600,000 U.S. owners of diesel vehicles whose emissions are over the legal limit, the head of its claims fund told a German paper.
Iran says Peugeot to pay $446 million compensation for sanctions move
DUBAI (Reuters) – French car-maker PSA Peugeot Citroen will pay Iran over 400 million euros ($446 million) in compensation for losses after it quit the country due to sanctions, the managing director of the country’s largest carmaker said on Sunday.
Prolonged oil slump sparks second wave of cuts to 2016 budgets
(Reuters) – Less than two months into the year, the top U.S. shale oil companies have already cut their budget for 2016 a second time as the relentless drop in oil prices continues to erode their cash flow.
Siemens to slash jobs at energy-related unit: Handelsblatt
FRANKFURT (Reuters) – German industrials conglomerate Siemens is cutting or transferring to other countries more than 1,000 jobs at a unit making gear for oil drillers and mining companies, as low oil prices have depressed capital spending, a German da…
Saudi, Venezuela talk of OPEC, non-OPEC cooperation to stabilize oil market: SPA
DUBAI (Reuters) – Saudi Arabia’s oil minister Ali al-Naimi discussed cooperation between OPEC members and other oil producers to stabilize the global oil market with his Venezuelan counterpart on Sunday, state news agency SPA reported.
