Analysis: Awash in oil, U.S. reshapes Mideast role 40 years after OPEC embargo
WASHINGTON (Reuters) – Forty years after an Arab oil embargo throttled the U.S. economy, surging North American energy production has brought the United States closer to a long-dreamed “energy independence” that is reshaping its goals and role in the M…
Analysis: Debt fight dings U.S. Treasury bills’ status
NEW YORK (Reuters) – The safe-haven reputation of U.S. Treasury bills took a beating during the latest debt ceiling fight in Washington, and it won’t be regained soon, even after the last-minute deal to avert a threatened default.
Witness claims U.S. lawyer used inflated estimate in Chevron case
NEW YORK (Reuters) – A U.S. lawyer used inflated estimates to pursue what eventually became an $18 billion pollution judgment against Chevron Corp in Ecuador, despite warnings that the numbers were “wildly inaccurate,” his former consultant said on Thu…
Wells Fargo cuts 925 more mortgage jobs
(Reuters) – Wells Fargo & Co , the largest U.S. mortgage lender, is laying off 925 employees in its home loan unit as rising rates cut into demand for refinancing.
HSBC hit with $2.46-billion judgment in U.S. class action
(Reuters) – A unit of British bank HSBC Holdings Plc was hit with a record $2.46 billion final judgment in a U.S. securities class action lawsuit against its unit, formerly known as Household International Inc.
Analysis: Washington budget battle may delay Fed taper until 2014
WASHINGTON (Reuters) – The Federal Reserve may have to wait until early next year before it sees sufficient strength in the U.S. economy to begin scaling back its bond-buying stimulus, after a destructive Washington budget battle that may take a bite o…
Deutsche Bank unit to pay $11 million to end Nevada mortgage probe
(Reuters) – A unit of Deutsche Bank AG will pay $11.5 million to resolve a probe of its role in funding subprime mortgage loans in Nevada, the state’s attorney general said on Thursday.
Winnebago’s profit rises, driven by rebounding RV demand
CHICAGO (Reuters) – Winnebago Industries Inc , the No. 1 U.S. motor-home manufacturer, reported a stronger-than-expected profit on Thursday and said its backlog continued to grow in the most recent quarter as rebounding consumer confidence prompted dea…
Fewer iPhone 5C sold than expected, but 5S scarce: Verizon CFO
NEW YORK (Reuters) – Verizon Communications Chief Financial Officer Fran Shammo said Apple Inc’s iPhone 5C “undersold expectations” in the third quarter, while its pricier iPhone 5S was in short supply.
Toyota recalls 803,000 Camry, Avalon, Venza sedans in U.S
(Reuters) – Toyota Motor Corp is recalling about 803,000 sedans, mostly its Camry, in the United States from the model years 2012 and 2013 due to potential problems with air conditioning condensers, the company said on Thursday.
