Fidelity drops credit card partners American Express, Bank of America
BOSTON (Reuters) – Fidelity Investments said on Monday it is dropping long-time credit card partners American Express Co and Bank of America Corp, ending a 12-year partnership that has generated billions of dollars in fees.
Fed’s Mester says not worried by Chinese stock plunge
WASHINGTON (Reuters) – Cleveland Federal Reserve President Loretta Mester on Monday said the sudden drop in China’s stock market was not a major concern and weakness in the Chinese economy did not pose a “significant” risk to the U.S. economic outlook….
U.S. factory, construction data point to tepid growth
WASHINGTON (Reuters) – U.S. manufacturing contracted further in December as lower oil prices undercut spending in the energy sector while construction spending fell in November for the first time in nearly 1-1/2 years, suggesting the economy ended 2015…
Apple shares off but weather U.S. market selloff
SAN FRANCISCO (Reuters) – Shares of Apple Inc fell to their lowest since August on Monday following recent worries about potentially soft iPhone sales but fared better than a 2 percent drop in major indexes.
L’Oreal to buy Raylon assets to expand in U.S. hair salons
PARIS (Reuters) – French cosmetics group L’Oreal said on Monday it had agreed to buy assets from U.S. company Raylon Corporation, which is owned by the Hafetz family and supplies American hair salons with professional beauty products.
Oil down; China, Wall Street tumble erase early rally on Middle East
NEW YORK (Reuters) – Oil prices slid on Monday in volatile trade that saw an early rally of more than 4 percent on tensions in the Middle East until those gains were erased on worries about a slowing global economic growth and sliding stock markets.
Fed’s Williams, unfazed by China, sees 3-5 rate hikes this year
SAN FRANCISCO (Reuters) – San Francisco Federal Reserve President John Williams said Monday he is unfazed by the weak economic data out of China that has spooked Wall Street, and sees three to five U.S. interest rate hikes this year as reasonable given…
China, euro zone and U.S. manufacturing suggest global economy still fragile
BENGALURU/NEW YORK (Reuters) – The global economy finished last year on a fragile footing, with factory activity in China shrinking for the 10th month running in December, while euro zone manufacturing picked up but U.S. activity slowed.
Ford, Toyota ally to counter Silicon Valley in dashboard war
LAS VEGAS (Reuters) – Toyota Motor Corp and Ford Motor Co said on Monday they will adopt the same software to link smartphone apps to vehicle dashboard screens and invited other automakers to join them to counter Apple Inc and Google’s push to control …
Vontobel patriarch Hans Vontobel dies aged 99
ZURICH (Reuters) – Vontobel Holding’s biggest shareholder and patriarch of its founding family, Hans Vontobel, died on Jan. 3 at the age of 99, the Swiss bank said on Monday.
