Crude oil down, extending two-week slide on product glut worry
NEW YORK (Reuters) – Crude prices edged lower on Monday, staying under pressure after two straight weeks of losses, on worries that the oversupply in oil products could swell from unseasonably warm weather and the waning maintenance cycle for U.S. refi…
Xerox to review operations, not considering sale of company
(Reuters) – Xerox Corp , best known for its printers and copiers, said it would review its businesses and capital allocation options, but was not currently considering a sale of the company.
U.S. new homes sales near one-year low; drop seen as temporary
WASHINGTON (Reuters) – New U.S. single-family home sales fell to near a one-year low in September after two straight months of gains, but a jump in prices suggested that housing remained on solid ground.
Bridgestone to buy U.S. auto parts retailer Pep Boys
(Reuters) – Japanese tire maker Bridgestone Corp said it would buy auto parts retailer Pep Boys-Manny, Moe & Jack for $835 million to expand its retail presence in the United States.
Volkswagen hires former CEO of GM’s Opel to run group strategy
BERLIN (Reuters) – Volkswagen has hired a former chief executive of General Motors’ European division Opel to run group strategy, the German carmaker said on Monday.
U.S. union, GM reach tentative agreement on labor contract
DETROIT (Reuters) – Negotiators for the United Auto Workers and General Motors Co reached a tentative agreement on undisclosed terms for a new four-year labor contract, averting a threatened strike, the union said late on Sunday night.
FedEx sees record holiday shipments on rising retail, e-commerce
CHICAGO (Reuters) – Package delivery company FedEx Corp said on Monday that it expects to see a record number of shipments during this year’s busy holiday season, driven by rising retail sales and a jump in ecommerce.
Starwood Capital to buy apartment units worth $5.37 billion
(Reuters) – Private investment firm Starwood Capital Group has agreed to buy 72 properties from U.S. real estate company Equity Residential for about $5.37 billion.
Some U.S. bond funds bet on high-yield survivors of oil carnage
NEW YORK (Reuters) – High-yield energy bonds are on track for their worst year since the global financial crisis yet some funds are holding on, convinced that markets underestimate the ability of many oil companies to ride out the crude price slump.
European shares slip as easing expectations fade
LONDON (Reuters) – European shares fell in early trading on Monday as euphoria about the prospect of further central bank policy easing faded, with investors warning against over-confidence ahead of another week of interest rate decisions.
