Petronas plans cuts and review to counter oil price slump
KUALA LUMPUR (Reuters) – Petroliam Nasional Bhd (Petronas) plans to cut spending by up to 50 billion ringgit ($11.4 billion) over the next four years and review its business structure in response to the profit-sapping slump in oil prices.
Delta Air misses fourth-quarter expectations, sees unit revenue decline
(Reuters) – Delta Air Lines Inc on Tuesday reported fourth-quarter profit slightly below analysts’ expectations and forecast that passenger unit revenue will continue to decline in early 2016 amid “international volatility” and currency pressures.
Credit Agricole revives plan to simplify its structure, shares rise
PARIS (Reuters) – French bank Credit Agricole is reviving plans to simplify its ownership structure with a scheme to inject capital into the listed entity through the sale of a cross-shareholding back to the co-operative parent.
U.S. companies likely to take further big hits from Venezuela economic turmoil
BOSTON (Reuters) – A slew of major U.S. corporations are likely to announce in the next few weeks whether they will take big writedowns for their troubled Venezuela operations, and some may say they are leaving the country altogether.
Global stocks rise as slowing China growth boosts stimulus prospects
LONDON (Reuters) – Shares in Europe and Asia rose and the dollar gained after data showing China’s economy grew last year at its slowest pace in a quarter of a century prompted investors to anticipate more efforts to spur growth.
Renault plans engine software patch to cut diesel emissions
PARIS (Reuters) – French carmaker Renault will announce measures in March to reduce real-world emissions of nitrogen oxide (NOx) pollutants from its latest diesel vehicles, Chief Competitive Officer Thierry Bollore said on Tuesday.
China fourth-quarter growth weakest since 2009 as policy misstep fears grow
BEIJING (Reuters) – China’s economic growth in the fourth quarter slowed to the weakest since the financial crisis, adding pressure on a government that is struggling to restore the confidence of investors after perceived policy missteps jolted global …
Prudential capital ratio beats forecasts, appoints new UK head
LONDON (Reuters) – British insurer Prudential Plc posted a slightly above-forecast capital ratio under new European rules and appointed a UK head as it attempts to woo investors later on Tuesday.
A $59 trillion tailwind spurs governance changes in Asia firms
SINGAPORE (Reuters) – A surge in socially responsible investments to $59 trillion globally over the past decade is nudging Asian firms to change a notoriously insular management style to one that actively addresses corporate governance concerns.
Exclusive: Goldman Sachs inks joint Mexico energy, infrastructure deal – source
MEXICO CITY (Reuters) – The private equity arm of Goldman Sachs Group Inc has teamed up with Mexican consulting firm Ainda to jointly invest in energy and infrastructure projects in Mexico, a person familiar with the matter said.
