Petrobras agrees to pay Brazil $508 million to settle tax dispute
RIO DE JANEIRO (Reuters) – Brazil’s state-run oil company Petroleo Brasileiro SA said late Thursday that it paid 1.6 billion reais ($508 million) to settle part of a tax dispute with Brazilian authorities and will take the charge against earnings in se…
Europe moves to restore funding to Greece after bailout vote
ATHENS (Reuters) – Europe moved to re-open funding to Greece’s stricken economy on Thursday after the parliament in Athens approved a new bailout program in a fractious vote that left the government without a majority.
Google rallies as profit beats forecasts on ad revenue growth
BENGALURU/SAN FRANCISCO (Reuters) – Shares of Google Inc rose nearly 12 percent after the Web search leader’s profit beat forecasts for the first time in the last six quarters, boosted by strong advertising revenue and comments by its new chief financi…
GE offers concessions in bid for EU clearance of Alstom deal
BRUSSELS (Reuters) – U.S. conglomerate General Electric has offered concessions in an attempt to counter EU regulatory concerns about its 12.4-billion-euro ($13.49 billion) bid for French peer Alstom’s power unit, its biggest ever acquisition.
Citi posts highest profit since financial crisis, shares rise
(Reuters) – Citigroup Inc, the third biggest U.S. bank by assets, reported its highest quarterly profit since the financial crisis as Chief Executive Michael Corbat’s restructuring and cost-cutting efforts paid off and the bank’s legal expenses plunged…
Yellen says open to raising threshold for systemic banks
WASHINGTON (Reuters) – Federal Reserve Chair Janet Yellen said on Thursday she was open to raising a threshold for determining a bank’s systemic importance and indicated that U.S. lenders had made progress in their submissions of so-called living will …
Wall St. rises; eBay, Netflix push Nasdaq to record high
(Reuters) – Wall Street ended stronger on Thursday, with the Nasdaq up more than 1 percent at a record high after earnings reports from eBay and Netflix boosted optimism.
VW, GM shudder as China profit engine sputters
FRANKFURT (Reuters) – Shockwaves from a drop in Chinese car demand are reverberating in Wolfsburg, Germany and Detroit, Michigan, where VW and General Motors are feeling the effects of a slowdown in a market that has been their big profit engine.
Changing Chinese habits help Mazda outstrip rivals in slowing market
NANJING, China (Reuters) – Chinese car sales have barely got out of first gear this year, yet a shift in consumer behavior has sent Mazda Motor Corp hurtling out of the pack, posting records and struggling to keep pace only with demand.
Chesapeake Energy bond payout raised to $438.7 million
NEW YORK (Reuters) – A federal judge on Thursday said Chesapeake Energy Corp must pay an additional $59.1 million to some investors whose bonds it redeemed early, boosting the natural gas company’s total payout to $438.7 million.
