Russia says Saudis proposing global oil production cut
ST PETERSBURG, Russia/DUBAI (Reuters) – Russia said on Thursday that OPEC’s largest producer Saudi Arabia, had proposed oil production cuts of up to 5 percent in what would be the first global deal in over a decade to help clear a glut of crude and pro…
Oil up 3 percent on possible production cuts to remedy glut
NEW YORK (Reuters) – Oil prices were about 3 percent higher on Thursday after the Russian energy minister said Saudi Arabia had proposed that oil-producing countries trim output, which would be the first global deal in over a decade to help clear a glu…
Lower oil prices squeezing U.S. manufacturing sector
WASHINGTON (Reuters) – New orders for long-lasting U.S. manufactured goods in December recorded their biggest drop in 16 months as lower oil prices and a strong dollar pressured factories, the latest indication that economic growth braked sharply at th…
Under Armour demand continues to soar, stock leaps
(Reuters) – Under Armour Inc , the No. 2 U.S. sportswear maker, on Thursday reported a better-than-expected 31 percent jump in revenue, allaying concerns that apparel sales were slowing, sending its stock up as much as 21 percent.
Yahoo to shut Argentina and Mexico offices
(Reuters) – Yahoo Inc plans to close its offices in Argentina and Mexico, a company spokeswoman said on Thursday.
Raytheon sees higher sales, profit in 2016; fourth-quarter profit tops view
WASHINGTON (Reuters) – Raytheon Co on Thursday reported better-than-expected fourth-quarter profit and forecast higher results for 2016, citing increasing demand from the Middle East, Asia and Europe for precision missiles and missile defense.
Italian tax police believe Google evaded 227 million euros in taxes: sources
MILAN (Reuters) – Italy believes Google evaded 227 million euros ($247.5 million) in taxes between 2009 and 2013 and could hit the U.S. Internet giant with hefty punitive fines, investigative sources said on Thursday.
HSBC curbs mortgage offering to Chinese citizens in U.S.
NEW YORK/ VANCOUVER (Reuters) – Europe’s biggest lender HSBC will no longer provide mortgages to some Chinese nationals who buy real estate in the United States, a policy change that comes as Beijing is battling to stem a swelling crowd of citizens try…
Alibaba delivers on revenue but feels China slowdown
(Reuters) – Strong holiday sales helped e-commerce giant Alibaba Group Holding Ltd beat forecasts on Thursday with a 32 percent rise in third-quarter revenue, but it was not immune from China’s slowdown.
EU clamps down on corporate multi-billion tax avoidance
BRUSSELS (Reuters) – The European Commission weighed into the row about multinational corporations avoiding tax on Thursday, proposing to clamp down on companies shifting their profits to low-tax countries.
