Citigroup Inc reported a surprise drop in quarterly revenue on Monday, as extreme volatility in financial markets toward the end of the year hurt its fixed-income trading business.
PG&E Corp , owner of the biggest U.S. power utility by number of customers, said on Monday it is preparing to file for Chapter 11 bankruptcy for all of its businesses as it faces potentially crushing liabilities linked to catastrophic wildfires in 2017 and 2018.
Wall Street was set to open lower on Monday, after Citigroup kicked off the earnings season on a dour note, adding to worries over a slowdown in global economic growth that resurfaced after data showed an unexpected drop in China’s trade.
Citigroup Inc reported a surprise drop on Monday in quarterly revenue due to a steep decline in its fixed income trading business, hurt by volatility in financial markets at the end of the year.
ACWA Power is considering supporting the manufacturing of solar panels in Saudi Arabia, its chief executive said, as the power and water plants developer seeks to facilitate Saudi Arabia’s plans to develop its renewable power industry.
PG&E Corp, the biggest U.S. power utility, said on Monday it is preparing to file for Chapter 11 bankruptcy for all of its businesses as it faces potentially crushing liabilities linked to catastrophic wildfires in 2017 and 2018.
Newmont Mining Corp said on Monday it would buy smaller rival Goldcorp Inc in a deal worth $10 billion, creating the world’s biggest gold producer in the face of dwindling easy-to-find reserves of the precious metal.
Ousted Nissan Motor Co Ltd Chairman Carlos Ghosn was indicted on two additional charges of financial misconduct on Friday, bringing the number of charges against him to three.
Global stock markets and commodities took a hit on Monday after a shock contraction in Chinese trade pointed to deepening cracks in the world’s second-largest economy and sparked fears of a sharper slowdown in global growth.
Brazil’s government on Monday nominated three new board members for state-owned oil company Petroleo Brasileiro SA (Petrobras), amid accusations that new CEO Roberto Castello Branco was pushing to oust board members.
Newmont Mining Corp said on Monday that it would buy smaller rival Goldcorp Inc in a deal valued at $10 billion, creating the world’s biggest gold producer by output.
PG&E Corp said on Monday it is preparing to file for Chapter 11 bankruptcy for all of its businesses, as the company faces pressure from potentially crushing liabilities linked to catastrophic wildfires.
Newspaper chain MNG Enterprises Inc said on Monday it had offered to buy USA Today publisher Gannett Co Inc for $12 per share in cash, or $1.36 billion.
ACWA Power plans to expand into solar panel manufacturing, its chief executive said, in a move which would put the power and water plants developer at the heart of Saudi Arabia’s plans to develop its renewable power industry.
Saudi Arabia plans to develop a $2 billion solar and carbon black integrated complex in partnership with China’s Longi and South Korea’s OCI, a Saudi official said.
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