AIG first quarter earnings down slightly on interest rates, returns
NEW YORK (Reuters) – American International Group Inc’s first-quarter earnings fell slightly as low interest rates and weaker returns from alternative investments offset improvements in its commercial insurance business.
Exclusive: Intel’s standstill with Altera expires in June – sources
(Reuters) – Intel Corp signed a standstill agreement earlier this year with Altera Corp that expires on June 1, giving the world’s largest chipmaker the option to launch a hostile bid after that, according to sources familiar with the matter.
Greece signals concessions in crunch talks with lenders
ATHENS (Reuters) – Greece’s government signaled the biggest concessions so far as talks with lenders on a cash-for-reforms package started in earnest on Thursday, but tried to assure leftist supporters it had not abandoned its anti-austerity principles…
Warren Buffett losing some mojo on his economic ‘moats’
NEW YORK (Reuters) – Warren Buffett has carved out a core stock-picking strategy of investing in companies with strong economic “moats,” businesses that have built, fortified and generated success from well-known brands that make it difficult for them …
Renault vote puts ball in Ghosn’s court, exposing rival visions
PARIS (Reuters) – The French government’s move to tighten its hold on Renault , crowned by a rare public defeat for CEO Carlos Ghosn on Thursday, has exposed competing visions for the carmaker and its alliance with Nissan .
VW, Piech clash on board appointments ahead of AGM
BERLIN (Reuters) – Volkswagen and newly departed chairman Ferdinand Piech clashed again on Thursday over supervisory board appointments, causing new strains at the carmaker ahead of what is likely to become a tense shareholder meeting next Tuesday.
Exxon profit slips but beats forecasts on refining, output
(Reuters) – Exxon Mobil Corp’s first-quarter profit dropped less than expected in results posted on Thursday as margins at the refining unit of the world’s largest publicly traded oil company surged on tumbling crude prices.
Fiat Chrysler shares extend losses after CEO’s consolidation call
MILAN (Reuters) – Milan-listed shares in Fiat Chrysler Automobiles (FCA) fell to a 10-week low on Thursday, a day after its chief executive called for large-scale industry consolidation.
CRC bullish on long-term prospects of Monterey Shale: CEO
NEW YORK (Reuters) – California Resources Corp expects that, as oil prices recover, technology may enable extraction of Monterey Shale reserves previously thought to be unrecoverable, the company’s chief executive said this week.
GM to invest $5.4 billion in U.S. plants over next three years
DETROIT (Reuters) – General Motors Co said on Thursday it will spend $5.4 billion over the next three years on its U.S. manufacturing plants to boost production and vehicle quality.
