Shell challenges Exxon dominance with $70 billion bid for BG
LONDON (Reuters) – Royal Dutch Shell agreed to buy smaller rival BG Group for 47 billion pounds ($70 billion) in the first major energy industry merger in more than a decade, closing the gap on market leader U.S. Exxon Mobil after a plunge in prices.
Oil dives 6 percent from 2015 high as stocks swell, Saudis pump
NEW YORK (Reuters) – Oil prices dived 6 percent on Wednesday after closing at their highest this year, as a mammoth rise in U.S. crude stockpiles and news of record Saudi oil production scuttled talk of a sustained recovery.
Fed officials say June rate hike still in play, hinges on data
NEW YORK (Reuters) – The Federal Reserve could still hike interest rates in June despite weak recent U.S. data and investor skepticism, two influential officials with the central bank said on Wednesday, putting the spotlight squarely on the economy’s p…
Fed looked past weakness to press ahead on rate hike plan
WASHINGTON (Reuters) – U.S. Federal Reserve officials acknowledged risks from overseas and a weak start to the year at their March meeting but remained confident enough in the strength of the recovery to continue laying the groundwork for an interest r…
Pawn to cushion payday lenders from regulatory blow
(Reuters) – Payday lenders that have substantial pawn operations are better positioned to absorb the blow from proposed U.S. regulations aimed at cracking down on an industry that has been criticized for saddling borrowers with debt they cannot repay.
Holcim, Lafarge set to name Olsen as CEO of combined company: source
ZURICH (Reuters) – Cement maker Holcim has backed Eric Olsen as chief executive following the Swiss firm’s planned merger with French peer Lafarge , a source familiar with the matter told Reuters on Wednesday.
Shell’s BG purchase could be catalyst needed for U.S. shale deals
HOUSTON (Reuters) – Royal Dutch Shell Plc’s $70 billion agreement to buy BG Group Plc may be just the signal that other dealmakers need to make their own energy takeover bets, particularly in the U.S. shale sector.
Fiat Chrysler to invest $540 million in new engines for Alfa Romeo
MILAN (Reuters) – Fiat Chrysler Automobiles will invest more than 500 million euros ($540 million) to produce two new engines for its Alfa Romeo cars as part of a planned relaunch of the brand, the car group said on Wednesday.
‘Stay tuned’ for more Swiss bank deals over tax evasion: U.S. official
NEW YORK (Reuters) – More Swiss banks that helped wealthy Americans evade taxes will soon strike agreements with the Department of Justice to avoid prosecution, an official overseeing the U.S. government program told Reuters.
U.S. stocks’ volatility expectations muted ahead of earnings
NEW YORK (Reuters) – Investors are staring at the first quarterly decline in U.S. corporate profits in six years – but the message coming out of the options market for now is not to worry.
