Oil up 3 percent on weak dollar, speculative buying, Yemen
NEW YORK (Reuters) – Oil settled up about 3 percent on Wednesday as a weak dollar, fighting in Yemen and speculative buying boosted crude prices in spite of U.S. inventories building to record highs for an 11th week.
Wells Fargo to cut 1,000 jobs, shut Milwaukee home-lending office
(Reuters) – Wells Fargo & Co, the fourth-largest U.S. bank by assets, said it will cut 1,000 jobs and close its home-lending servicing office in Milwaukee, Wisconsin.
PayPal to pay $7.7 million in U.S. Treasury sanctions case
WASHINGTON (Reuters) – PayPal, the electronic payments firm, agreed to pay $7.7 million to settle charges by the U.S. Treasury Department that it violated numerous sanctions programs against countries that include Iran, Cuba and Sudan, Treasury said on…
Goldman trims U.S. first quarter GDP view to 1.8 percent from 2.0 percent
NEW YORK (Reuters) – Goldman Sachs economist Kris Dawson said on Wednesday he scaled back his view of U.S. growth in the first quarter, following an unexpectedly weak report on domestic durable goods orders in February.
Pirelli does not plan special dividend for ChemChina deal – sources
MILAN (Reuters) – Italian tyre maker Pirelli , which is being bought by China National Chemical Corp (ChemChina), does not plan to pay a special dividend to its shareholders as part of the buyout plan, two sources with direct knowledge of the matter sa…
Weak U.S. business spending data points to tepid first quarter growth
WASHINGTON (Reuters) – U.S. business investment spending plans fell for a sixth straight month in February, likely weighed down by a strong dollar and weak global demand, leading economists to further lower their first-quarter growth estimates.
Airbus to sell further 17.5 percent stake in Dassault Aviation
PARIS (Reuters) – Airbus Group plans to sell a further 17.5 percent stake in business and fighter jet maker Dassault Aviation as it unwinds its 16-year-old link to its defence market rival.
U.S. mortgage applications rise in latest week: MBA
NEW YORK (Reuters) – Applications for U.S. home mortgages rose last week as interest rates dropped to their lowest level since February, an industry group said on Wednesday.
Fed’s Evans says strong dollar ‘disinflationary’, possibly transitory
LONDON (Reuters) – Chicago Federal Reserve President Charles Evans said on Wednesday he was concerned the strong dollar’s “clear disinflationary pressure” could get embedded in expectations.
Ford recalls over 220,000 vehicles in North America for three issues
DETROIT (Reuters) – Ford Motor Co said on Wednesday it is recalling more than 220,000 vehicles in North America for potential issues with door handles, vacuum pump relays and sensors.
