Morgan Stanley begins layoffs in credit division
NEW YORK (Reuters) – Morgan Stanley this week cut staff covering short-term credit and regional broker-dealers, after a quarter in which the bank posted a 42 percent drop in bond trading, several sources told Reuters.
Tesla says Australian utility Origin to market solar battery
SYDNEY (Reuters) – Tesla Motors Inc on Thursday listed Australia’s largest power and gas retailer Origin Energy as one of the distributors for its solar battery storage product which the company is launching globally in two other countries.
Yahoo reverses course on plan to spin off Alibaba stake
SAN FRANCISCO/BENGALURU (Reuters) – Yahoo Inc shelved plans to spin off its stake in Chinese e-commerce giant Alibaba Group Holding Ltd on Wednesday, under pressure from activist investors worried about billions of dollars in taxes, and said instead it…
El Nino investment options range from pest control to ski resorts
NEW YORK/CHICAGO (Reuters) – As the El Niño weather phenomenon makes the U.S. Northeast warmer, the Midwest drier, and the South and the West wetter this winter, Eric Marshall, portfolio manager of the $2 billion Hodges Small Cap fund, is not one of those people who just talks about the weather. He’s doing something about it.
Baker Hughes deal likely to close in 2016: Halliburton executive
HOUSTON (Reuters) – Oilfield services company Halliburton’s proposed $35 billion acquisition of rival Baker Hughes Inc will likely close in 2016 instead of this year as talks with U.S. regulators continue, a Halliburton executive said on Wednesday.
United Airlines to stop flying to Dubai
(Reuters) – United Airlines on Wednesday said it will cancel flight service between Washington and Dubai starting in late January, meaning no U.S. passenger carrier will fly direct to the Gulf states.
Exclusive: Credit Suisse, Julius Baer eye bids for BTG Pactual’s Swiss unit – sources
LONDON/SAO PAULO (Reuters) – Credit Suisse and Julius Baer are among a handful of banks vying to buy the Swiss private-banking arm of embattled Brazilian investment bank Grupo BTG Pactual SA in a cut-price deal, sources with direct knowledge of the tal…
Bed Bath, Nordstrom, others settle U.S. false labeling charges
(Reuters) – Four U.S. retailers agreed to pay $1.3 million of fines to settle U.S. civil charges that they deceived consumers by falsely labeling and advertising textile products as containing bamboo, when they were actually made from rayon.
Weak U.S. inventories seen weighing on fourth quarter growth
WASHINGTON (Reuters) – U.S. wholesale inventories fell in October as businesses stepped up efforts to reduce stockpiles of unsold merchandise, suggesting inventories would again be a drag on growth in the fourth quarter. The Commerce Department said on…
Fed set for very gradual rate path after expected Dec 16 hike: poll
(Reuters) – The U.S. Federal Reserve will move very gradually after it delivers what is widely expected to be its first interest rate hike in nearly a decade next week, according to a Reuters poll that points to a tame inflation outlook for next year.
