Sequoia Fund is sued over big Valeant stake
NEW YORK (Reuters) – The investment firm that runs the Sequoia Fund, long known for its ties to Warren Buffett, was sued by shareholders who claim it recklessly took a huge stake in embattled drug company Valeant Pharmaceuticals International Inc , cau…
Fiat Chrysler CEO says major shift on way for North American plants
DETROIT (Reuters) – Fiat Chrysler’s Chief Executive Sergio Marchionne said on Monday the company plans to make significant shifts to its North American production footprint, which will be announced as part of the company’s quarterly financial results o…
Oil tumbles nearly 5 percent to new lows; analysts warn of $20s
NEW YORK/LONDON (Reuters) – A brutal new year selloff in oil markets deepened on Monday, with prices plunging as much as 5 percent to new 12-year lows as further ructions in the Chinese stock market threatened to knock crude into the $20s.
Alcoa gets $1.5 billion supply contract from GE’s aviation unit
(Reuters) – Alcoa Inc said on Monday it had signed a $1.5 billion long-term contract with General Electric Co’s aviation unit to supply components used in aircraft engines.
Uber pushes into public transit with new app partnership
SAN FRANCISCO (Reuters) – Transportation technology company TransLoc announced on Monday a partnership with Uber, marking a significant advancement in the ride-hailing company’s effort to ally itself with public transit agencies.
German carmakers see steady U.S. sales in 2016: VDA
DETROIT (Reuters) – Sales of German carmakers including Volkswagen <VOWG_p.DE>, Daimler and BMW in the United States may hold steady this year, the VDA auto industry association said on Monday.
Shares, oil steady in Europe after China sends Asia sprawling
LONDON (Reuters) – World stocks fell to near 2-1/2 year lows on Monday as a fresh pounding for Chinese markets left Asia at a four-year trough and sent oil and commodity markets sprawling again.
China will find it tough to achieve over 6.5 percent growth over 2016-2020: state adviser
SHANGHAI (Reuters) – China will face great difficulty in achieving economic growth above 6.5 percent over the 2016-2020 period due to slowing global demand and rising labor costs at home, the China Securities Journal quotes a top state adviser as sayin…
Global air freight demand may have bottomed out: IATA
FRANKFURT (Reuters) – The decline in global demand for air freight may be bottoming out, with cargo volumes growing month-on-month in November, the International Air Transport Association said on Monday.
Five things the U.S. stock market is worried about after last week’s rout
NEW YORK (Reuters) – Investors were hoping 2016 would be a fresh start after the U.S. stock market sputtered to wrap up 2015. Instead, what they got was rotten.
