Oil pares early gains on bearish world market outlook
NEW YORK (Reuters) – Oil prices pared most of their gains on Tuesday afternoon as investors focused on a bearish outlook from the International Energy Agency after U.S. crude gained on technical support earlier in the session.
New Barclays CEO faces early challenge to fix wealth arm
LONDON (Reuters) – The new chief executive of British bank Barclays, expected to be former JPMorgan banker Jes Staley, faces an early challenge in deciding what to do in wealth management after a decade of disappointment.
Twitter announces layoffs as CEO Dorsey looks to revive growth
(Reuters) – Twitter Inc will lay off up to 336 employees, or about 8 percent of its workforce, as co-founder Jack Dorsey readies to revive growth in the microblogging service provider’s user base in his second stint as chief executive.
VW looks to cutbacks and electric cars to overcome scandal
BERLIN (Reuters) – Volkswagen will cut investment plans at its biggest division by 1 billion euros ($1.1 billion) a year and step up development of electric vehicles, it said on Tuesday, as it battles to cope with the fallout from its cheating of diese…
EMC to pay up to $2.5 billion to Dell if it opts for rival bid
(Reuters) – EMC Corp said it would pay Dell Inc [DI.UL] up to $2.5 billion in termination fees if the data-storage company accepts a “superior proposal”.
GE to sell $30 billion specialty finance business to Wells Fargo
(Reuters) – General Electric Co took a big step on Tuesday in its plan to unload most of its financing operations, saying it has agreed to sell commercial lending and leasing businesses worth more than $30 billion to Wells Fargo & Co .
Jury selection begins in ex-Rabobank traders’ U.S. trial over Libor scheme
NEW YORK (Reuters) – Jury selection got under way on Tuesday in the trial of two former Rabobank [RABO.UL] traders from Britain facing U.S. charges that they engaged in a scheme to manipulate Libor interest rates.
Barclays says still in process of naming new CEO
(Reuters) – Barclays Plc said on Tuesday it was still in the process of appointing a new chief executive officer, amid ongoing rumors that the British bank was close to naming former JPMorgan Chase & Co banker Jes Staley to the post.
China economic picture remains cloudy as September export fall eases, imports slump
BEIJING/SHANGHAI (Reuters) – China’s exports fell less than expected in September, with monthly figures showing recovery, but a sharper fall in imports left economists divided over whether the country’s ailing trade sector is showing signs of turning a…
U.S. says Apple e-books antitrust monitor no longer needed
NEW YORK (Reuters) – The U.S. Justice Department has determined that Apple Inc has implemented significant improvements to its antitrust compliance program and that a court-appointed monitor’s term does not need extended, according to a court filing.
