U.S. services sector cooling; jobs market resilient
NEW YORK (Reuters) – Activity in the vast U.S. services sector slowed to a near two-year low in January, suggesting that economic growth weakened further at the start of the first quarter even as the labor market remains resilient.
Toyota looks to Daihatsu to crack Indian small car market
NOIDA, India (Reuters) – Toyota Motor Corp will start talks this week with its affiliate Daihatsu Motor to build and sell small cars in India, where it has so far struggled to crack the cheaper end of the market. The Japanese carmaker aims to double it…
Merck gives cautious 2016 outlook as sales of top medicines lag
(Reuters) – Merck & Co Inc on Wednesday issued a cautious 2016 outlook and reported disappointing fourth-quarter sales of its Januvia diabetes treatment and its Remicade arthritis drug, sending its shares down nearly 3 percent.
Oil bounces 5 percent after U.S. data sparks short-covering
LONDON (Reuters) – Oil rose by as much as 5 percent on Wednesday after investors took advantage of a drop in the U.S. dollar and of earlier weakness in the crude price, despite weekly data showing a surprisingly large rise in U.S. inventory.
Fed’s Dudley to MNI: Tightening financial conditions a concern
NEW YORK (Reuters) – Financial conditions have tightened considerably in the weeks since the U.S. Federal Reserve raised interest rates and monetary policy makers will have to take that into consideration should that phenomenon persist, a top Fed offic…
Ford cuts jobs to sustain European profits as GM lags
BERLIN (Reuters) – Ford revealed plans on Wednesday to cut hundreds of white-collar jobs in Europe and revamp its model range to keep it profitable in the region after turning a corner in 2015.
Stay on sidelines until Chipotle sales recover: analysts
(Reuters) – Sales at troubled burrito chain Chipotle Mexican Grill Inc will have to show signs of sustained recovery before investors consider returning to the once high-flying stock, several Wall Street analysts said.
Goldman’s Blankfein says ‘feeling great’ after cancer treatment
(Reuters) – Lloyd Blankfein, chief executive and chairman of Goldman Sachs Group Inc , told CNBC on Wednesday that he is “feeling great” after the treatment for lymphoma.
European lawmakers back limited reduction in car emissions
BRUSSELS (Reuters) – European lawmakers on Wednesday backed a compromise deal to reduce car emissions that will still allow vehicles to exceed official pollution limits, defying calls for more radical reform following Volkswagen’s emissions-test cheati…
Kia plans first sports sedan next year as it seeks younger, more hip image
SEOUL (Reuters) – Kia Motors plans to launch its first sports sedan next year, people familiar with the matter told Reuters, seeking to burnish a sporty, younger image as larger sibling Hyundai Motor builds up its premium offerings.
