Wall Street resumes 2016 slide as energy stocks tumble
(Reuters) – Wall Street sold off on Monday, pulled lower by further weakness in oil prices as energy shares led declines, with major indexes retreating after last week’s strong gains.
Short-seller Carson Block launches hedge fund
NEW YORK (Reuters) – Short-seller Carson Block, founder of research firm Muddy Waters LLC who exposed accounting problems and wrongdoing at a slew of Chinese companies, has launched a hedge fund investment firm, a filing with the U.S. Securities and Ex…
Saudi Arabia presents plan to move beyond oil
RIYADH (Reuters) – Saudi Arabia outlined ambitious plans on Monday to move into industries ranging from information technology to health care and tourism, as it sought to convince international investors it can cope with an era of cheap oil.
Siemens beefs up industrial software with CD-adapco
MUNICH, Germany (Reuters) – Germany’s Siemens has agreed to buy U.S. engineering software firm CD-adapco for $970 million, it confirmed on Monday, beefing up its core industrial business with the latest in a string of acquisitions in the area.
Boeing sets first flight of 737 MAX for Friday
SEATTLE (Reuters) – Boeing Co said it had tentatively scheduled the first flight of its newest airplane, the 737 MAX, for Friday, a sign that it is on schedule for another key milestone for its top-selling plane.
American Apparel defeats founder Charney in bankruptcy plan fight
WILMINGTON, Del (Reuters) – A U.S. judge on Monday said he would approve American Apparel Inc’s plan to exit bankruptcy and rejected a takeover attempt from the teen retailer’s founder and ousted chief executive, Dov Charney.
Homebuilder D.R. Horton reports lower-than-expected revenue
(Reuters) – D.R. Horton Inc , the No. 1 U.S. homebuilder, reported lower-than-expected revenue for the final quarter of the year as its home sales fell in all regions but the Southeast.
Saudi Aramco chief says maintaining oil and gas investment
RIYADH/LONDON (Reuters) – National oil giant Saudi Aramco is continuing to invest in oil and gas production capacity despite cost-cutting due to low oil prices, its chairman Khalid al-Falih said on Monday.
Fed says policy meeting to go forward as scheduled despite snow
WASHINGTON (Reuters) – The U.S. Federal Reserve said on Monday its policy meeting set for Tuesday and Wednesday would go forward as scheduled despite an ongoing cleanup in Washington after a major snowstorm.
Valeant’s Pearson says timing of return uncertain
(Reuters) – Valeant Pharmaceuticals International Inc’s ailing chief executive, Michael Pearson, said he was on the road to recovery but was uncertain about when he would return from medical leave.
