Oil slides despite OPEC talk of a floor
NEW YORK (Reuters) – Oil fell in see-saw trade on Monday, with U.S. crude ending at its lowest in nearly six years, as traders discounted comments from OPEC’s top official about the market finally finding a bottom.
Mattel removes CEO, warns of fifth straight fall in quarterly sales
(Reuters) – Mattel Inc removed Chief Executive Brian Stockton after another disappointing holiday shopping season for the maker of the aging Barbie doll.
Telecom network spending seen rising this year amid 4G boom
PARIS/STOCKHOLM (Reuters) – Europe’s telecoms equipment makers look set for an unpredictable year because of consolidation among their operator customers and a slowdown of buildouts of faster mobile networks, known as 4G, in the United States and China…
Rock-Tenn, MeadWestvaco to merge, create packaging giant
(Reuters) – Packaging companies Rock-Tenn Co and MeadWestvaco Corp agreed to form a combined $16 billion company to take on market leader International Paper Co in the United States and abroad.
IBM dismisses Forbes report of massive layoffs
(Reuters) – IBM dismissed on Monday a Forbes magazine report claiming the technology firm is preparing to cut about 26 percent of its workforce, which would represent its biggest-ever layoffs.
Oil major BP freezes pay in 2015 to cut costs
LONDON (Reuters) – BP is freezing base pay across the group this year, the latest in a series of steps by oil majors to cut costs in response to sinking oil prices.
How Draghi got divided ECB to say ‘yes’ to money-printing
LONDON (Reuters) – When Mario Draghi announced the European Central Bank’s trillion-euro scheme to buy government bonds, he acknowledged that in the round of strategies to revive inflation and boost the economy, the bank had just played its last hand.
Soros eyes investing in auto dealer groups – report
DETROIT (Reuters) – Billionaire financier George Soros wants to invest in or buy a large automotive dealership group, potentially following in the footsteps of Warren Buffett, Automotive News reported.
U.S. Treasury’s Lew affirms strong dollar policy
BRUSSELS (Reuters) – U.S. Treasury Secretary Jack Lew said a strong dollar was good for America and that its strength reflected the health of the U.S. economy.
Obama announces $4 billion in India investment and lending deals
NEW DELHI (Reuters) – U.S. President Barack Obama on Monday announced $4 billion in government-backed investments and lending to India, as he sought to scale up a trade relationship he said was “defined by so much untapped potential”.
