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Oil slumps 6 percent as rout runs to 12 days on supercharged selling

November 13, 2018 by  
Filed under News

Oil’s slide accelerated on Tuesday, with U.S. futures dropping to lows not seen in 11 months due to ongoing worries about weakening global demand, oversupply and selloffs across other asset classes, including equities.


Source: Reuters Business News

Amazon picks New York City, Washington D.C. area for $5 billion new headquarters

November 13, 2018 by  
Filed under News

Amazon.com Inc picked America’s financial and political capitals for its split new headquarters, saying on Tuesday it will build offices for more than 25,000 people each in New York City and close by Washington, D.C.


Source: Reuters Business News

Danske money laundering scandal is 'tip of iceberg', whistleblower's lawyer says

November 13, 2018 by  
Filed under News

Danske Bank’s 200 billion euro ($225 billion) money laundering scandal might be the “tip of the iceberg” and investigators should examine whether major Western banks played a role, a lawyer for the whistleblower said.


Source: Reuters Business News

Starbucks to lay off 350 global corporate employees

November 13, 2018 by  
Filed under News

Starbucks Corp is laying off about 350 global corporate employees, Chief Executive Officer Kevin Johnson said on Tuesday in a memo to employees, seen by Reuters.


Source: Reuters Business News

S&P inches higher on trade hope, oil plunge hammers energy stocks

November 13, 2018 by  
Filed under News

The S&P 500 edged higher in choppy trading on Tuesday as a bruised technology sector recovered and industrial stocks gained on hopes of a U.S.-China trade deal, but losses in Boeing Co and tumbling energy stocks limited gains on the Dow.


Source: Reuters Business News

Cosmetics giant Coty replaces CEO, chairman

November 12, 2018 by  
Filed under News

Coty Inc replaced its chief executive officer and chairman on Monday, days after the cosmetics giant rattled investors by warning that fiscal-year performance could be hurt by supply chain issues.


Source: Reuters Business News

U.S. crude turns negative, on track for eleventh day of losses

November 12, 2018 by  
Filed under News

U.S. crude prices turned negative, reversing course as U.S. President Donald Trump said he hoped there would be no oil output reductions, after Saudi Arabia said OPEC was considering cutting supply next year, citing softening demand.


Source: Reuters Business News

Rabobank explores sale of U.S. retail, wealth operations: sources

November 12, 2018 by  
Filed under News

Dutch cooperative lender Rabobank is exploring the sale of its retail and wealth management operations in the United States in a deal that could top $1 billion, people familiar with the matter said on Monday.


Source: Reuters Business News

Nasdaq falls 2 percent as Apple, chip stocks hit by weak forecasts

November 12, 2018 by  
Filed under News

The Nasdaq Composite index fell about 2.5 percent on Monday, hit by a slump in Apple Inc shares after two suppliers cut their forecasts, sparking a selloff in other iPhone component makers and weighing on technology stocks.


Source: Reuters Business News

Takeda's Shire takeover to bring $963 million fee bonanza

November 12, 2018 by  
Filed under News

Banks, law firms and other advisers stand to earn up to $963 million in fees from Takeda Pharmaceutical’s $62 billion takeover of drugmaker Shire , according to documents for the deal published on Monday.


Source: Reuters Business News

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