Exclusive: Bank of America seals oil financing deal with Philly refinery – source
NEW YORK (Reuters) – Bank of America Corp has clinched a deal to provide inventory and working capital financing to the biggest oil refinery on the East Coast, replacing JPMorgan Chase & Co with a revamped arrangement that excludes physical supplies, according to a source familiar with the deal.
Exclusive: Actavis plans new merger approach for Allergan – sources
NEW YORK (Reuters) – Actavis Plc plans to approach Allergan Inc again about a potential merger, as the Botox maker warms up to the possibility of a sale, people familiar with the matter said on Tuesday.
U.S. fiscal 2014 budget deficit falls to $486 billion, CBO says
WASHINGTON (Reuters) – The U.S. budget deficit fell by nearly a third during fiscal 2014 to $486 billion as federal revenues grew far faster than spending, the Congressional Budget Office said on Wednesday.
BMW hires Ferrari’s former chief engineer to polish tech prowess
BERLIN (Reuters) – BMW has hired Ferrari’s former chief engineer as it seeks to strengthen its technical prowess amid intensifying competition with rival German luxury carmakers Audi and Mercedes-Benz.
Switzerland says will begin talks with EU on sharing bank data soon
ZURICH (Reuters) – Switzerland will begin negotiations soon with the European Union and some other countries on automatically sharing data on Swiss bank accounts held by foreigners, the government said on Wednesday.
Growth worries grip stocks, oil markets
NEW YORK (Reuters) – An index of global equities hit a six-month low and oil prices slumped again on Wednesday, as investors reduced positions in riskier assets amid concerns about global economic growth.
Exclusive: China, EU close to deal on telecoms trade dispute- sources
BRUSSELS (Reuters) – China and the European Union are closing in on a deal to resolve a long-running telecoms dispute by the end of the month, people close to the matter say, potentially putting an end to one of the most divisive issues between the two…
Price cuts no quick cure for Tesco’s ills
LONDON (Reuters) – Cheaper meat and vegetables should draw shoppers back into Tesco stores but it will take time for the new boss of Britain’s biggest grocer to win back market share.
UPS starts U.S. service to lower failed deliveries
(Reuters) – United Parcel Service Inc said it started a service in the United States that would allow customers to collect or return packages to lockers in neighborhood convenience and grocery stores, addressing concerns of failed deliveries.
Adidas beefs up management as it seeks to revive fortunes
BERLIN (Reuters) – German sportswear firm Adidas has appointed two new senior managers as part of an ongoing overhaul of its top leadership aimed at making the firm quicker to respond to consumer trends to keep up with bigger rival Nike .
