Saudi slashes monthly oil prices to Europe; trims U.S., ups Asia
NEW YORK (Reuters) – Saudi Arabia made deep cuts to its monthly oil prices for European buyers on Monday, a move some analysts said reflects the kingdom’s deepening defense of market share, although it also hiked prices in Asia from record lows.
Keystone pipeline would have little impact on gas prices: W. House
WASHINGTON (Reuters) – The White House said on Monday that U.S. President Barack Obama believes the proposed Keystone XL pipeline would have little impact on U.S. gas prices but a spokesman would not say whether he would veto Republican legislation rel…
Fed’s Williams: Interest rate hikes after liftoff should be gradual
BOSTON (Reuters) – A top Federal Reserve policymaker said on Monday that the pace of interest-rate hikes after an initial liftoff should be gradual to preserve flexibility and to help a U.S. economy that still may need stimulus.
BMW’s China dealers say company agrees to pay $820 million subsidy
SHANGHAI/FRANKFURT (Reuters) – BMW will pay 5.1 billion yuan ($820 million) to auto dealers in China who pressured the world’s top luxury carmaker to share the cost of overstocked showrooms, BMW’s main Chinese dealership group said on Monday.
Cost cuts, asset sales and writedowns in store for Tesco
LONDON (Reuters) – New Tesco boss Dave Lewis is expected to focus on cost cuts and asset sales when he provides an update on his plans to revive the troubled British grocer’s fortunes on Thursday.
Fed might not raise rates in 2015: Gross
NEW YORK (Reuters) – The Federal Reserve could find itself challenged to raise U.S. interest rates this year as global growth remains sluggish and inflation subdued, closely watched bond investor Bill Gross said on Monday.
Cyprus plans two international debt issues in 2015: finance minister
NICOSIA (Reuters) – Cyprus plans two international debt issues this year, its finance minister said on Monday, seeking a firmer footing in markets after a near meltdown in 2013.
German bank exposure to Greece around $28 billion: banks
FRANKFURT (Reuters) – German banks have around 23.5 billion euros ($28 billion) in credit exposure to Greece, but the systemic risk is limited as the biggest commercial banks, Deutsche Bank and Commerzbank , hold only a tiny fraction of that, according…
British banks to outline plans to protect ordinary customers
LONDON (Reuters) – Britain’s biggest lenders have only a day before the deadline passes for submission of their plans to protect ordinary customers from the banks’ risky activities, starting a four-year industry overhaul that will cost billions of poun…
Ally Financial sells stake in Chinese joint venture to GM
NEW YORK (Reuters) – Ally Financial Inc said on Monday that it completed the sale of its stake in a joint venture with a Chinese auto lender to General Motors Co for $1 billion.
